Lack of Budget: Overcoming Pricing Issues

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To help you get prepared to handle sales objections, let’s jump into some of the most common objections that all salespeople face.

The Six Most Common Types of Sales Objections (and How to Respond)
Despite the uniqueness of what you’re selling, your objections aren’t special. All salespeople face the same common objections, which is fortunate because it means you can learn from how other people deal with them.

The most common objections fall into these same six buckets:

Lack of budget
Lack of need
Lack of trust
Lack of urgency
Lack of authority
Hard NO
Below, we’ll break down the why behind each type of objection. Then, we’ll go over some examples and responses that you can take for your own sales team.

When you hear, “Your product is too expensive,” “I need a discount,” or “We already allocated our budget for other needs,” you’re getting hit with a lack of budget objection. To overcome these, you need to remind your potential customers about the value you’re providing and make them feel like that value is worth your price.

The Six Most Common Types of Sales benin telegram data Objections (And How to Respond) - Lack of Budge
People often use price objections to hide other concerns or fish for a discount. If you ask the right questions, you can get to the root of a pricing objection and figure out what’s really going on. Below are some price objection examples and responses you could give.

Objection: "It's too expensive."
When a prospect says your product is too expensive, it’s often because you haven’t demonstrated enough value to justify your price.

The other possibility is that they’re using a pricing objection to mask other concerns. They could also just be trying to start a discount negotiation, and I recommend you don’t give in. The first move is to ask questions and find out what’s really going on.