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Get the Budget - Skip a Wild-Goose Chase

Guest post by: Linda Richardson

Article Overview: Before you expend days on that complex proposal or jump on a flight again to see your client or prospect, find out about the budget. While knowing client needs is paramount to maximize opportunities, knowing the budget is also vital.

Get the Budget - Skip a Wild-Goose Chase

Before you expend days on that complex proposal or jump on a flight again to see your client or prospect, find out about the budget. While knowing client needs is paramount to maximize opportunities, knowing the budget is also vital. Certainly budget should not be the first question to ask but learning about the budget early on helps you target opportunities with potential and bring solutions that are doable to clients.

Soon after you understand needs, the decision process, and compelling event, get to the budget. You can comfortably ask about budget by positioning your request from a client need perspective such as, "So I can understand your parameters to meet your needs, what are?" However, some clients, in spite of how often you ask about the budget, avoid the subject. Perhaps they don't know. Perhaps they are withholding the information as a negotiation ploy. Either way a lack of budget information can spell trouble for you.

If the client avoids giving budget data to you, especially if the client is more junior or tends to be close fisted, suggest for a range. For example, after you've asked about budget and have not been successful in getting the information you need, ask: "I know you don't have a specific budget at this stage. To help me gauge my thinking, is it under X or over Y? Or is it between A or B?" Based on the size of the opportunity and your knowledge of the client's needs, you can fill in the range. Of course, suggest ranges only as a fallback. Clients usually respond when you give them a range and this will give you the parameters you need to help you gauge the opportunity and the client's commitment. When clients continue to refuse, even with wide parameters that can tell you a lot about how real the opportunity is.

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Article Tags: Linda Richardson, Sales Tips, Sales Training



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