What are your strategies for when the client says they don’t have the budget, which is clearly untrue?
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Client brags about success, client doesn’t have the budget
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If the client doesn't "have the budget" they likely don't have the pull inside the organization to make whatever you are selling happen. Strategically, here is what I do. 1) I do whatever I can to make this person my champion. Not someone to "sell internally" but someone I can go to gain all of the necessary intel/information in requires to sell the actual person who has/can find the budget for what I sell. 2) Once data is gathered, go get the buyer and push the deal home.
I like this optimistic strategy quite a bit! I also like the perspective that the only reason they would say not in the budget is because they must not be the decision maker, and someone else most likely does have the budget. Thanks!
In my experience, if someone tells you they have power/budget, they are NOT the decision maker. If someone says they are not involved in budget, most of the time they actually are. It is funny how it works.
All my prospects that brag about having internal power do not.
To the point made below though, even though they do not have budget/power directly they can always be a coach or champion for you. Getting them on your side and getting a warm intro to the ultimate EB is always preferred.
All my prospects that brag about having internal power do not.
To the point made below though, even though they do not have budget/power directly they can always be a coach or champion for you. Getting them on your side and getting a warm intro to the ultimate EB is always preferred.
This is great, and seems to be very true! Thank you!
"All my prospects that brag about having internal power do not."
I can vouch for this as typically being the case - not on the sales side, but on the client side - I worked in an auto OEM for years and would have meetings with colleagues when meeting with potential suppliers. Typically the suppliers CEO's and their sales teams would come in and pitch us on their products.
At the end of the day 9 time out of 10 they were in a room filled with people that had ZERO buying power, and had ONLY opinions to the people that would buy. However, I heard on numerous occasions, people with zero decision-making power brag about how they actually did have this power. I could never understand this and chalked it up to only trying to satisfy one's ego and wishing they were in such a position.
I can vouch for this as typically being the case - not on the sales side, but on the client side - I worked in an auto OEM for years and would have meetings with colleagues when meeting with potential suppliers. Typically the suppliers CEO's and their sales teams would come in and pitch us on their products.
At the end of the day 9 time out of 10 they were in a room filled with people that had ZERO buying power, and had ONLY opinions to the people that would buy. However, I heard on numerous occasions, people with zero decision-making power brag about how they actually did have this power. I could never understand this and chalked it up to only trying to satisfy one's ego and wishing they were in such a position.
I once had a potential client explain how good of a year it has been, but when we got to the pricing portion, which is ridiculously low, the cost was not in there marketing budget. No matter the industry, this is a common objection. What are your strategies?
In this situation, they either don't have the authority or don't see value in your product.
This might be unpopular but the "insert fake excuse" is sometimes a nice way of saying leave me alone.
Yes, that is the feeling I get quite a bit when that common objection is stated. Is it best to back away then or make any last attempts?
If they say they don’t have the budget when you know somehow they do, it likely means they can’t associate the budget allocation with the value you’re offering yet or your solution hasn’t yet been demonstrated to cater to what their prioritized needs are
Any tips to make sure they see the need?
It’s one thing to solve for a surface level issue with a product/service.
you need to dive deeper into their pain to quantify it. justify their investment in addition to demonstrating the solution aligns
you need to dive deeper into their pain to quantify it. justify their investment in addition to demonstrating the solution aligns
This is great. Thanks!
Np! Hope it works out!
Depends, What position is the client? If lower level they don't have the decision making power, build the relationship, learn what you can & move your way up. Play to the relationship "Yea 'Name' I can see that you're a sharp guy/girl/person & realize the value here, who could we both speak with to get this set up?"
We are going to grow by 150% this year!!!! *can't afford your product*
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