Overcome The “We Have No Money” Sales Objection
“We have no money.” “We have no funds.” “We are on a spending freeze.” “It’s not in the budget.” These are all the same objection and if I didn’t find this objection funny, I’d be insulted by it.
Why do I find the “We have no money” sales objection so funny? I laugh at all the reps that fall for it. Many of those reps think they just (un) qualified the “suspect”. What they should be thinking is that the prospect is trying to sell them a ton of bologna! Trust me… 9 out of 10 times… the prospects have the money. I find that attempt to “sell” me bologna very insulting. I’m not talking about prospects that truly don’t have the funds.
Never let a prospect “sell” you. If that prospect (Heaven Forbid) had a flood or heart attack, don’t you think they would find the money to take care of business? So what’s missing?
Remember one word if you expect to successfully overcome the “We Have No Money” sales objection. That one word is “Urgency”. A heart attack is urgent. Prospects will always find the funds for something “Urgent”.
Reps must create urgency about their product if they want to “kill” the “We have no money” objection. But, just how do we create this urgency? Well, that’s why we have sales training.
Products solve problems. What problems does your product solve? With that answer, you are on the road to creating urgency.
What could happen if the problem is ignored and what could that cost?
How much money is the problem costing per Year? Month? Day?
How much more will the solution cost next year? Nothing, over time, costs less to fix.
Is there any danger generated by the problem?
The best I can do is point you in the direction of creating urgency.
I hope I made my point about urgency and the “We have no money” price objection.
To your great sales success!
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