Probably one of the most daunting areas of a sale for the seller is opening the discussion of budget. Going to high can lose a client but going to low means losing available revenue. In this part of the sale there are so many ways to make mistakes but many of which can be avoided through strategy and practice. When first approaching the topic of money you must have first earned the right to talk about it, having shown the client your engagement through strategic questioning. To reach an actual number smaller steps must be taken. First, it is key to reaching a threshold, what is too high for a customer or client. Then getting a range for what they are willing to spend for a particular service should be next before an actual number can be found. The best practice is to get the client into a price bracket and narrow it down from there. Showing them what products or services they could get for certain prices can benefit even farther in satisfying the customer’s needs.
By williamsms1
BoweryJE22 2 thoughts on “The Budget Question”
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I liked what we talked about in class with regards to budgeting in terms of giving a few options. Similar to a marketing tactic, provide a good, better, best scenario and hope that the customer falls into one of those categories.
Also, when talking about money, you want to make sure you are talking to the head decision-maker you are selling to. This will allow pain to be discovered easier and problems to be solved quicker. Gathering information and building rapport are both key instruments to a successful sale!