It seems as though, “we have no budget for that” is a standard go-to response these days. I personally believe we hear this so often because many people in sales, especially small business owners, have not mastered the craft of having a successful sales conversation.
Here are a few things you should know and some tricks you can have in your back pocket when you hear the dreaded “It’s not in the budget” line.
What You Should Know:
- There is no budget to begin with. When your pipes at home burst and the plumber inquires about your budget, there isn’t one, right? The same is true when offering your products or services to corporate clients. They often don’t know ahead of time that a need for YOU is going to occur.
- Like many of us, corporations can always find the money. When an urgent issue arises the “purse-string Gods” can always find a way to pay for what they need and want. Just like at home with the pipes.
How to Respond:
- Is it not in the budget at all, or just not right now?
- Aside from budget, what else is holding you back?
- Can you tell me more about why you say that? (This is my go-to response for ANY objection)
- Is the amount I proposed more than what you set aside for this initiative?
Ideally you want to find out if no means “no” or just “not right now.” If money is TRULY an issue, consider delivering your service in phases or scaling the project back to lower costs. More importantly, ask good questions to find out if what you are proposing may not provide what they are looking for. In that case, find ways to tweak it to make it a perfect fit for their challenge.