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Handling the Economy Objection Once and For All by Mike Brooks


If you’re still getting the “We’re just not going to do anything until the economy (settles down or improves, or whatever…), when you are closing the sale and asking for the order, then I’ve got some good news and bad news for you:

First the good news: After reading this article, and applying the techniques in it, you will virtually eliminate this objection once and for all.

Now the bad news: If you’re getting this objection during the close when you’re asking for the sale then you’re responsible for creating it.

Here’s the bottom line: It’s your responsibility to qualify out any economy, price, budget objections on the front end call so that these objections don’t come up during the close. If you’re still getting these objections later on, it means you didn’t “disqualify” out the non-buyers – which are what you’re dealing with when you get this objection.

It doesn’t mean they aren’t ever going to be buyers, it just means they aren’t going to buy now. And you need to know that in the beginning and not send any information or demo out.

Here are some questions to ask to identify who will and who won’t use the “We’re just going to wait until the economy gets better” objection.

During the qualifying call, make sure and ask any of the following questions by working them into your specific sale:

“A lot of companies are taking advantage of this (your product or service) now that the economy is slow – do you think the time is right for you, too?”

“Given what’s happening in the economy right now, do you still see yourself (or your company) moving forward with this now?”

If they say they don’t know, then layer it with:

“When do you think would be a more appropriate time for you?”

Also, ask:

“How are you doing in this economy?”

Layer:

“Are you still going to be able to participate in this if we can get you the (price, rate, deal) we’re talking about here?”

Ask:

“__________, many of our clients find that this (your product or service) is still important regardless of what is happening in the economy – is it
something that you still have in your budget?”

I think you’re getting the idea, right? The bottom line is that it’s up to you to eliminate any budget objections before you get into the closing arena. And you’ll do this by asking these types of qualifying/disqualifying questions in advance.

Start using them today and watch as your closing ratio goes up, and your frustration level goes down.
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Mike Brooks, Mr. Inside Sales, works with business owners and inside sales reps nationwide teaching them the skills, strategies and techniques of top 20% performance. If you’re looking to catapult your sales, or create a sales team that actually makes their monthly revenues, then learn how by visiting: MrInsideSales.com

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-Were the ideas above helpful? What were some key points that stood out? Do you have any other sales strategies along these same lines that would be helpful? Use the comments to join the conversation.

  • C

    Great post! There are always objections and we need to remember to address them before the prospect does.

    I look forward to the tips here and use them regularly.

  • Josh Hinds

    I'm sure I speak for everyone when I say I appreciate you sharing your thoughts here. I hope you'll visit and participate in the community often.

    To your sales success,
    Josh Hinds 🙂