A common refrain by prospects in today's market is; "I'm really interested in what you're selling, but we just don't have any budget left this year. Let's talk again in 2011." This is commonly followed by, "wow boss, they are really interested in buying and I'm sure they'll buy in January. So, I don't want to count them as lost for right now".
No budget? Really? You sure? Something tells me that budget is not nearly the objection we make it out to be. One very powerful question to qualify this objection is;
"If I could defer billing until 2011, will you sign today?". My guess is that 98% of the prospects would reply with;
"Well, I can't do that because I don't know what my 2011 budget will be." In which case your response should be;
"I was just thinking that since you are so interested now, but your 2010 budget is shot, that if we removed the '10 budget issues you would be sure we are in your 2011 budget." (Then shut up!) The next one who speak loses.
Frankly, it really doesn't matter what they say next because whatever it is, you know exactly where you stand. If they buy, you now have another problem; getting management to agree to terms (however in tough times and with a credit worthy prospect this may not be as tough a sale as you think).
If they say "no", then you know that budget wasn't really the issue and you can continue the selling process. Remember, pain finds budget and pain drives urgency (see Pain, the only thing worth qualifying for in times like these). If budget keeps coming up, you most likely have not found or created any real pain. Keep searching and if you can't find any, then make it YOUR choice to end the sales process, not THEIRS!
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