How can I handle “We don’t have it in our budget?”. Many times as a seller we come across the illusive statement, “It is not in our budget”. As a seller, it’s inevitable that you will hear this statement at one point or another. When I hear this, four things come to mind:
1. You didn’t qualify properly…
It’s important that you have a sales process that enables you to weed out non-buyers and not waste time
Set the rules before you play the game with each prospect
Here are some potential questions to ask so that you don’t get the budget questions
“Typically our system runs for $4K per year. Is that in your budget for this project?”
“What is your budget for this project?”
Find out who else will be a part of the decision-making process or what other departments are being affected by the purchase. Perhaps they can have a joint budget for the project.
Many times people are afraid of losing something so they hold onto someone who shows slight interest so you go through hoping that they will see something that will peak their interest later.
2. They are lying….
Some people lie and are just trying to get rid of you. Just cut your loses and move on.
“Is it okay if I ask you a question without you getting upset with me?” “Is price really an issue or are you just not interested?”
Or, many times when people say it’s not in the budget it’s because:
“I did not explain it right and they don’t see the value”
“Really interested, but just have no money”
They are not interested and wanted to say it in a nice way……Which one is it?
3. They really don’t have a budget….
They really don’t have the money to dedicate at this time. They have other pressing projects and it’s not on the top of the list. These are the folks I would have my marketing folks do a hyper focus on with educational material. I would also keep in touch with them periodically, but not waste too much time. What information could I offer that will be of tremendous value over the next several months?
4. They really have a need and don’t have the budget.
This would require us to look at doing a partial payment at the end of the fiscal year and the remainder in the next year. They can pay part now and part later.
“How much would you be able to allocate now to start off with?”.
Maybe they don’t need all the features right now and you can add it as they go over the next several months. If you do this approach, I would put specific dates in the agreement for the next payment due date. (Story of Charlotte County School). Another option is to do a “pilot” approach. Can you offer a 3 month pilot at a reduced rate to have them sign up and try it out?
I wouldn’t offer it for free, I would have them pay something. I was taught by a friend that even if they pay $1.00, they feel a sense of commitment and you’re able to tell true motives and sincere desire. Just like the partial payment, offer specific dates for the trial period and conditions.
Donald is the host of the popular sales podcast,"The Sales Evangelist". He is the founder of The Sales Evangelist Consulting Firm where he helps small companies develop killer sales process to scale their business and increase growth.
Donald is also an award-winning speaker, sales trainer, and coach. He's a big fan of traveling, South Florida staycations and high-quality family time. Donald has a belief that “anyone” can sell if they have the desire and receives the proper training.