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Aside from “using a competitor…”, the “no budget” response is one of the top objections that I had to deal with in my cold calling days. It’s also one of the toughest to overcome. If someone tells you they are all set be cause they are using “xyz” instead…you most likely have ways to combat that by describing what differentiates your product. However, when it comes to no budget…how do you help them justify purchasing something when they claim the funds do not exist? The answer: you keep asking questions.
Kelley Robertson had a great blog entry last week on How to Respond to “You’re Too Expensive.” Although his point of view is more on the outside sales person perspective, an inside rep can still take a lot of these tips and use them to their advantage. As inside sales reps, you are given the very basic (if any) information on pricing, but it is important to know at least a few details.
The reason is that, as Kelley points out, customers are often comparing you to another solution that they previously researched. This could include cost and it is your job to find that out and help them realize what sets you apart from the competition. Maybe your product offers a different pricing structure that would make a purchase worthwhile. Like Kelley said in his post, a lot of times folks are just comparing you too another solution that they looked at previously.
It’s your job to find that out and make them realize what sets you apart from the competition. Pricing aside, there may be a feature in your solution that would make that purchase worth it to them. If you just end the call as soon as they say no budget, you would never find out.
People also fear change . This is another reason why you should always keep asking questions. I found that a lot of the time people would just say “no budget” to get off the phone. (“Sorry, no budget at this time…” *click*.) They know it’s a great way to “cop out” so to speak, because you won’t have anything to say back to them. I can’t count the number of times that I’ve had success by calling their bluff and asking questions like: ” When do you start budgeting and can I check back at that time?”
Come to find out they’re either budgeting now or will be soon and the real reason why they don’t want to look into anything is the fear of change. Other times, they feel as though it’s better to not rock the boat. Again, as an inside sales rep its your job to ask them these questions and get to the bottom of what they’re thinking and help them to understand how your product can help them and actually save their company money.
Whether your an inside or outside sales rep, check out Kelley’s post as it really offers some great questions for combating the “no budget” or “you’re too expensive” response. With these tips, I think you’ll find more sales opportunities than you thought existed.VN:R_U [1.9.7_1111]Don't Take "No Budget" For An Answer...,
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