The salesperson must understand what financial impact the buyer's goals and challenges have on their overall business and/or personal situation. Once the salesperson understands this, they are in a position to discuss all issues concerning money.

It is important for the salesperson to determine the need of the prospect and to have the prospect understand the impact of not having the pain fixed. The salesperson needs to understand the range of money the prospect will invest for the solution. This should be clearly defined prior to moving forward.

10.1 Money Messages 

Overcoming Conceptual Roadblocks

1. Adopting a new behavior in a selling situation: 

Be prepared with focused questions.

Model the behavior of someone who does not have limiting attitudes and feelings.

Practice over and over again.

Develop responses to common prospect questions.

2. During the budget discussion, be careful to present the right behavior:

Maintain relaxed demeanor.

Exhibit good posture, stand up.

Maintain appropriate eye contact with the prospect.

Speak with authority.

Do not: 

Fidget.

Stumble over your words.

Clear your throat excessively.

Mindset: Invest vs. Cost 

In the Budget Step, it is very important for you to understand what the prospect can invest, not necessarily what you cost. You have to plant your feet and reverse to understand what that number or range is and whether or not it will work for the project.

10.2 Techniques for Discussing Money Mindset and Definition

BRACKETING 

"Bill, most of the time when I work on a project like this, the total investment falls somewhere in the $25,000-$30,000 range. Do you think that the amount you will be able to invest will fall within that range?"

THIRD-PARTY STORIES 

"Joan, I was working with a client a few months ago who was facing some of the very same challenges you are. And like you, they were committed to eliminating the costly post-production inspection delays. They invested close to $15,000 to have us put together a program for them. Would you invest as much as $15,000 if you were confident that we could help you, too?"

COMBINATION (BRACKETING AND THIRD-PARTY STORIES) 

"Karen, I appreciate that you can't reveal your budget numbers. But, maybe you can help me so that we don't waste your time. When we have worked on projects like this, the client's investment usually ran somewhere between $7,000 and $11,000. Which end of that range should I focus on? Or is it over before we even get started?"

HISTORICAL/FUTURE EXPECTATION 

"Tom, the last time you had the system overhauled, what size investment were you looking at? Do you expect to spend more or less this time?"

METAPHOR

"Bill, as you begin to think about the size of the budget for this project, are you going to be thinking little league, college level, or major league? What do you consider a little league amount?"

SILENCE 

Whoever talks first loses.

MONKEY'S PAW

Offer a little deal to get a big deal.