“Sorry…no budget!” Selling in tough economic times.

February 21, 2009

…”Sorry no budget…not now…not this quarter…maybe in Q2…” that sounds familiar, right? Actually what many customers are actually saying is “why should I spend my limited budget on YOU”.

So you’d better get ready to prepare how to handle the “no budget” objection and turn it into a building block so a sale can happen, and at least the conversation can go on.

Ok, let me give you some examples:

Prospect says: “Sorry…No budget!”
I say: “I’m sorry to hear this…I’ll call you back next year.”

Well, that was just a warm-up, not a very good one actually. Let’s try better.

Prospect says: “Sorry…No budget!” I say:

I understand, and I’m not calling to sell you anything today, that’s not what this call is about. I was interested in understand better your specific context, your business and see how our solution could be a resource for you, for the future, when you get a budget. Let me ask you a few questions…

This is exactly why I’m calling you. Many of my customers, especially in those tough economic times, are wondering what is the best, most efficient away, to invest their limited resources on solutions that offer the best ROI. One of our customers in your industry actually increased their business profitability through a better understanding of bills of materials and real costs with our solution. But before even going further I wanted to understand how our solution could help you save money over time. May I ask you few questions?

I understand and I don’t expect you to even consider spending money on something you don’t know anything about. Let me ask you a few questions and then you can decide whether it makes sense or not to go further and see how our solution could help you saving money, increasing profitability…

I know exactly what you mean but let me ask you: how do you usually get a budget when an unexpected purchasing opportunity shows up?

If you’re like most of my customers, you will be extremely cautious regarding any money you spend and before we even talk about budget, let me ask you few questions to determine if our solution even makes sense or not for you.
Ok, now it’s your turn…reply this thread and share with us how you personnally handle this objection, feel free to give examples, what works, what doesn’t work…