How to avoid “no budget” objections 🤔
This comes up on cold calls, like: “thanks for calling but we have no budget for new tools right now”
In discovery: “this is interesting, but I have to be honest it’s gonna be very hard to get new budget approved right now”
And near the end of the sales process: “unfortunately we’re getting pretty serious pushback from our CFO on budget approval”
These are NOT real objections.
They’re a lack of belief and understanding on the customer’s side. Belief that the sum total of the value you’d deliver is significant enough to justify their understanding of the cost.
Value is things like:
Exec Team Priorities (revenue, cost savings, key named initiatives)
Solving painful problems (for them or their execs)
Self interest: compensation, promotions, working less, etc
Which is weighed against the total cost, things like:
$$$
Bandwidth to implement and use
Risk it doesn’t work
For example, if a customer likes your features and thinks they would be nice to have, but also doesn’t really want to ask for $50,000 and just assumes that like most SaaS it’ll be annoying to set up and use…
There’s a very good chance you’ll eventually arrive at something resembling “no budget”
BUT… if they’re clear on exactly how your tool will entirely eliminate the risk they miss their 2027 revenue plan (closing a $1.3m gap) AND it only costs $50,000 AND they heard how easy it is to set up and use from a customer at a great, trustworthy brand?
Value > Cost
Which means you’re WAYYYY less likely to have “budget” issues.
Imagine a scale with value on one side and cost on the other. Is value massively outweighing cost? If yes, proceed. If no, edit your sales approach to increase perceived value and lower perceived cost until yes.
Our next live training session is in 8 days (next Tues at 12) with the ENTIRE session focused on “no budget” style objections.
Live talk tracks and scenarios to avoid before they ever happen AND how to handle if they do.
Sign up here: https://luma.com/qewmb81e
One of the most impressive interview processes I’ve seen in the last year 💯
One Sunday last November I got a blank connection request from an AE. Good profile. Long stints. Promotions.
So I accepted.
And sent him a message. He replied almost instantly (remember, it’s a Sunday morning so quite the first impression).
We agree to meet the next day, Monday.
Meeting time. We click. Meeting runs way over. Present a role I think he’ll love.
Later THAT SAME MONDAY he meets the Head of Sales. THEY click.
Meet again 2 days later on Wednesday. Run way over. 90 minutes.
Next day, Thursday we send the prompt for a mock sales call. Mock scheduled for next day, Friday. Only 27 hours to prepare.
He demolishes the mock. It feels like he already works there. The call would have worked on a real customer.
Two days later, Sunday morning, he gets introduced to the Founder. He meets her SAME DAY (this guy, man…). She ends up making the offer live on the call.
8 days. Cold connection request > signed offer.
He was super responsive throughout the entire process. Almost never more than an hour between any messages. And opened his own direct line with every stakeholder he met during the process.
Animal.
This rep will close approx $2.5m this year. And the company has roughly 3x’d since November.
I’m genuinely not sure if this sounds easy or hard, but it is SIMPLE. If you do this, you will land amazing roles.