“I like what you’re selling, but we don’t have any budget for that this year.” How many times have you heard that one? If you are selling a product that will make that customer more profitable, effective, efficient or productive, then that simply isn’t true. There is ALWAYS budget for something that puts money in your customer’s pocket. You just have to know how to find it.
If what you sell puts money in your customer’s pocket, there only two things you need to do to find the hidden budget that every customer has available to buy from you. Every customer. First you need to work with your contact to discover impact that your solution will have on their personal gain. Not what you believe, but what the customer will affirm that he or she sees would come from your products or services.
Some products save costs. Cost savings can come from a number of sources such as the price of alternative products or from the costs of productivity that your products can impact. Other products increase revenues. Either way, you need to discover and gain the customers’ agreement on the expectations of that value. Then, you need to find the person who created the budget and have a conversation with him or her.
The person who created the budget at the beginning of the year did so without the knowledge of the benefit of your products or services. That person set those budgets based on historical trends and best projections on how to make that company or family successful. That person would change their minds and budget allocations in a heartbeat if they knew and believed that your solution was a better investment that other budget allocations. And they would do it every time. Make that connection, and you’ll find the hidden budget necessary to close your deals. And it doesn’t take an MBA to do it. The conversation takes place in plain language.
Stop accepting the false belief that there is no budget. There is always budget.
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