10 Questions
What was the approximate total amount the speaker made in straight commissions during their 17-year sales career?
33 million
How many salespeople has the speaker's method helped?
Over 9,000
What action does the speaker encourage the audience to take with regards to the book?
Open and start using it
What might happen if the audience doesn't check their spam folder for the book?
They might miss out on receiving the book
What is the main benefit the speaker suggests the audience can gain from using the book?
Help prospects become more open and make more money
What approach is recommended to shift prospects from cost-based thinking to results-based thinking?
Asking the prospect if the offering would work for them if they had the funds
What is suggested to avoid capping the prospect's thinking when selling B2B?
Using the term 'budget' instead of 'funding'
What is the purpose of using a curious tone when addressing budget objections?
To ease the prospect's guard
What helps in addressing the prospect's emotional buying decisions?
Tying the availability of funds to what the prospect wants
What is part of a larger set of skilled questions outlined in 'The neq Black Book of questions'?
Asking the prospect if the offering would work for them if they had the funds
Study Notes
Handling Budget Objections in Sales
- In a declining economy, sales prospects are likely to object due to budget constraints.
- It's crucial to shift prospects from cost-based thinking to results-based thinking early in the conversation.
- When a prospect says they don't have the budget or money, the salesperson should initially agree with them to ease their guard.
- Using a curious tone, the salesperson should ask if the offering would work for the prospect if they did have the funds.
- When selling B2B, it's advised to use "funding" instead of "budget" to avoid capping the prospect's thinking.
- The approach emphasizes tying the availability of funds to achieving what the prospect desires.
- The salesperson can ask the prospect how they feel they can resolve the budget issue to stay on the emotional side of the brain.
- Tying in the availability of funds to what the prospect wants helps in addressing their emotional buying decisions.
- Common solutions to budget objections include using a credit card, getting a loan, or reallocating funds from other areas.
- The approach is part of a larger set of skilled questions outlined in "The neq Black Book of questions," designed to enhance sales scripts.
- This approach is intended to help salespersons navigate budget objections and thrive in any economic condition, even during a recession.
- The method has been used successfully during previous economic downturns, such as the 2008-2009 financial crisis.
Learn effective strategies for handling budget objections in sales, especially during economic downturns. Discover how to shift prospects from cost-based thinking to results-based thinking and navigate objections with confidence.
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