If you’ve done any sales conversations at all, you know that the number-one objection that prospects present as a reason not to buy your product or service is money.
You get to that point in the sales conversation, and they say, “I don’t have the money,” “Our funds are allocated elsewhere,” or “We’ve got medical bills or tuition or too much debt.”
No matter how they phrase it, the solution for banishing that problem forever from your sales process is the same.
Don’t Buy Into Their Lie
The first key to dealing with any kind of objection that prospects present is to discern the real ones from the excuses.
The real objections are challenges, so you deal with them as such. Excuses are lies or beliefs in a false reality.
“I don’t have the money” is a lie.
How do you deal with this lie?
Well, first, you have to apply Pillar 1 and influence yourself.
You have to accept that money is never the problem. The problem is always urgency.
For instance, imagine a homeless drug addict, somebody who is really down and out. That person is a lost soul, trapped inside a reality that the addiction has created.
Have you ever heard of addicts who can’t get the money to buy their next fix?
No, because they always find a way.
Now, don’t get into the judgment of how they do it. That doesn’t matter. The point is that they do. And that homeless addict’s reality is much more dire than any prospect’s you’re going to be talking to.
They come up with the money, because the urgency is so great. They’ll do anything to get the money for their next fix.
So, when prospects tell you that they don’t have the money, remember that drug addict, and don’t buy into that excuse.
Instead, work on your prospects’ sense of urgency, because the urgency isn’t great enough for them to do what they need to do to get the money.
Whether that’s negotiating with their spouse to reallocate savings or getting a loan or raising their rates.
If you deal with their objection from a money place, you’re dealing with it from their reality.
And you will never influence them from their reality, because their reality says that they can’t get out of that reality.
So how do you influence them?
You bring them clarity, which, in turn, will create urgency.
So when you encounter the money objection, ask your prospects this question:
“What’s going to happen if this problem doesn’t change?” and have them see what the exact outcome will be.
Whether that’s facing the health consequences of diabetes, or poverty as an elder, or the loneliness of remaining single if they don’t want to.
Remember, part of the problem is that they’ve pushed this negative scenario into some nebulous future, where they don’t have to deal with it.
By bringing it to the present, they will face it.
And that clarity will bring them the urgency to change the outcome.
They’ll realize that they don’t want to tolerate their problem one minute longer, and, all of a sudden, they’ll find a way to get the money for the solution they need.
And, if they really are your ideal client, the solution they need is yours.