Tuesday, November 13, 2007

No Money? No Problem.

Today we tackle the second obstacle to sales: "no money."

Sometimes the no-money objection is only an excuse, suggests sales training firm The Brooks Group. But when funding to buy your product or service is your prospect's genuine concern, try these suggestions:

Deal only with prospects at the senior level who can revise the budget, develop strategies and make emergency purchases for products or services that fall into unforseen areas.

Before visiting a prospect, discover what items are - and are not - usually included in the company's budget. Is your type of product or service usually budgeted for? Know the potential customer's budget cycle, planning times, policy for disposing of excess funds and who controls what parts of the budget process.

Finally, to gather more information to help the prospect solve the no-money problem, The Brooks Group suggests that you continue the discussion by asking the following questions:

  • How have you funded this type of project before?
  • We encounter this quite often. Let me suggest how other organizations have found ways to handle it.
  • How much money have you set aside that may not be used? Are there ways we could access those funds to start this project?
Try these tips the next time the "no money" obstacle arises. You'll soon be saying, "No money...no problem!"

The Brooks Group is a world-renowned sales training firm specializing in business-to-business selling. Visit their website at www.brooksgroup.com

Tomorrow's obstacle: "no hurry."
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