This week’s Sandler Training Seattle President’s Club focused on the importance of talking about the prospect’s budget up front. Most salespeople wait until the end of their presentation to bring up price or other money issues. Most often, talking about money is a conceptual issue. The salesperson was taught certain things about money growing up. Statements like “It’s rude to talk about money,” may be ringing in his/her ear while meeting with a prospect. Or, the salesperson has fallen into the traditional qualify, present, close strategy where money is brought up only after the salesperson has given his/her full presentation.
Following are three good reasons why it’s important to discuss money up front.
1. Saves you time and energy. Bringing up issues of budget is an important step toward qualifying your prospect. Is this person qualified to buy your product/service or not? If not, wouldn’t you rather know before you invest too much time and energy in a lengthy presentation?
2. Maintains your prospect’s focus. If your prospect is wondering, “How much is this going to cost me?” the entire time you’re speaking, how much attention will he/she be giving to the important points of your presentation? Without knowing the prospect’s price expectations, you risk presenting the wrong solution to his/her need.
3. Clears the path toward a closed deal. Dealing with money issues up front is the key to qualifying your prospect and building credibility. Getting the issues on the table allows you to clear away objections giving the prospect an opportunity to be fully focused and attentive to your offering. Removing the obstacles of qualification and lack of attention allow your prospect to seriously consider your offer in light of his/her budget.
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