How To Handle The #1 Sales Objection -

How To Handle The #1 Sales Objection

ISSUE #69

Sales are the backbone of any business.

And improving your sales process is one of the fastest ways to increase your revenue.

TOGETHER WITH

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Sales are the backbone of any business.

And improving your sales process is one of the fastest ways to increase your revenue.

Sometimes even the subtlest tweaks can create significant results — and once you know what works, it becomes a consistent tool in your arsenal

Every person who has ever made a sales pitch has dealt with the dreaded ‘money objection’ when speaking to a potential buyer.

But did you know there are different types of money objections?
And that what people often say the problem is — isn’t always true?

In today’s Deep Dive, I’m sharing how you can discern which money objections your potential clients actually have, so you can respond appropriately and close more sales…

This will help you to increase your sales close ratio and continually finesse your sales process to potentially address the issues before they even come up — making it easier and easier for ideal clients to say YES.

Let’s dive in

NOTE FROM SCOTT OLDFORD

If You Aren’t Making $100K+ / Mo…. Every Month….

You just haven’t yet set the proper foundations for a 7+ figure business.

Those foundations include:

#1. Marketing that is automatic

#2. A sales process that works with flexible effort from you

#3. A business model that can scale without your direct 1-on-1 time

#4. Lean operations that doesn’t require you to be some “big shot CEO”

#5. A set of mindset beliefs to get you out of your head and into action

That’s it.

That’s all.

That’s what’s required.

And when you do this… things work.

Want to learn how to build these foundations into your business?

For only $27, you can join Scott Oldford on a live 7 Figure Foundations workshop hosted on Thursday February 22nd at 1pm PST

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DEEP DIVE –

Emily Utter is a sales trainer and creator of the Sales Power System.

She teaches coaches how to attract high-level clients with fully-expressed marketing and messaging resulting in them selling their services confidently and ethically, without using sleazy or forceful tactics.

With over 8 years of experience and hundreds of success stories, Emily is transforming the way the coaching industry does sales.

How To Handle Money Objections On A Sales Call

So believe it or not — there are 2 different types of money objections you may come across when speaking with potential clients.

Knowing how to spot the difference (and respond accordingly) can make ALL the difference in your sales.

Most people make the mistake of believing their prospects’ literal words when they say, “I don’t have the money…”

But the truth is — there’s a lot of nuance here.

In this Deep Dive, I’m going to spell out the differences AND show you how to respond once you know which objection is really holding your potential client back.

The First Type of Money Objection

The first type of money objection presents when your potential client legitimately does not have the money they need to invest with you readily available.

Their bank account balance is lower than the price you’re quoting.

Pretty straightforward.

However, this does NOT mean they can’t problem solve, and go find the money themselves, if they had the drive and determination to figure it out.

We’ve all heard epic stories of people finding money they didn’t have, making an investment that paid off, or suddenly coming into unexpected winnings. Maybe that’s even been YOU!

Or maybe you’ve worked with clients who created money miracles in order to invest with you… I certainly have.

But these aren’t common, nor are they easy to overcome as a salesperson.

The Second Type of Money Objection

But the second type of money objection could com-plete-ly change your sales game, if you grasp what I’m about to share.

This money objection presents when your potential client says “I don’t have the money,” but what they really mean is…

They don’t have the money FOR YOU.

This could mean one of several things, but most commonly:

1. They don’t see value in what you’re offering, so they “don’t have the money for it” (even when they have 5x what you’re asking for sitting in savings)

2. They’re confused by your offering, and can’t justify spending money on you because they don’t understand what they’ll get or experience

3. You’ve left them with seed(s) of doubt about whether or not you can deliver what you’ve promised, because they sense a lack of confidence or alignment

But the good news is…

There IS a solution to these challenges.

When your potential client has the first type of money objection — “I legit do not have this money in front of me,” it’s really up to them to figure it out — or not.

Humans are capable of doing remarkable, miraculous things, but you can’t want it more than they do.

You can of course help them out a bit through working out a manageable payment plan or a discount or some other way to help bear some greater amount of risk in the deal.

But in the second type of money objection case…

YOU, my friend, can fix this “sales problem.”

In addition to clearer messaging, the BIGGEST shift YOU can make to your sales call process is HOW you make the offer.

When a potential client is raising money objections, it’s often due to a lack of clarity. They’re wondering “What the heck am I being offered?!”

If you’ve ever received a money objection, only to find out later that they invested with someone else (and worse… someone with a higher price tag), pay attention to this part of your sales process.

“So how do I figure out which type of money objection I’m working with, so I can then solve it?”

It’s Easy….ASK THEM!

Try saying something like this:

“Is it okay if I follow up with a question about the money aspect?”

Then, once you have their permission, ask them something along the lines of, “Is it because you don’t have this amount of money available to you, or is it because you’re not sure if what I’ve offered is the right fit?”

Depending how your potential client answers, you’ll be able to discern which type of objection they have.

If your potential client truly doesn’t have the money available, your job is done here. They can decide how badly they want the solution, and figure it out — or not.

I recommend you let the client take this responsibility on, instead of you taking on the responsibility of their ability to get resourceful.

But after almost a decade of coaching clients on the sales process, I’ve found the #1 cause of all objections — including money objections — generally comes from a LACK OF CLARITY given to the prospect by the salesperson.

Meaning that, when they describe their offer, it’s still unclear WHAT it actually is & how it can directly support the potential client in front of them.

So until you clean up any confusing or unclear aspects of your sales messaging, you will continue to create unnecessary barriers that restrict your ideal clients from saying ‘YES’ easily & enthusiastically to working with you.

= = = = = = = = = = = = = = = = = = =

Was this Deep Dive an eye-opener?

This is just 1 of the topics Emily teaches in her in-depth sales intensive, The Sales Power Experience.

Want to learn more about Emily? Dive in here!

TODAY GROWTH PICKS

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A NOTE FROM ROEZAN

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How To Handle The #1 Sales Objection