How to deal with prospect telling you they don’t know how much money they can spend

The prospect has at least some idea of what they can spend for your product or service … always. Here is an all too familiar scenario. You ask, “what is the budget for this product”. The prospect says, “I don’t know”. You write that down and continue on with the call feeling that you have asked the budget question and gotten no answer as per usual … you did your job. You report that to your sale manager. He shrugs and you go about writing a quote which you lose because your price was way too high. The problem is that your mindset is all wrong and so is your manager’s. You must believe that they know how much they can spend. They know, at least they know within a certain tolerance. And if they do not know how much they can spend, they know how much they can’t spend. If you have that mindset firmly implanted in your belief system, you will be able to continue the conversation and come out with at least some idea of the amount they are willing to spend to fix the problem you are discussing. With this empowering belief system in mind, you could always say, “well for this project it should be between $4,000 and $5,000. Will that be a problem do you think?” Or you could throw out a high number like, “George, I don see why for this project it should be more than $9,000”. I promise you will get a reaction and you can take the conversation from there. If you are a salesperson change your mindset and you will change the results you get. If you are a sales manager, change what you are willing to accept and you will help grow your sales team and your bottom line.

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