Politics. Religion. Money. These are three taboo conversations that we are taught from a very early age to avoid. On sales calls, however, the conversation on money should not be avoided.
One of the major weaknesses that some salespeople have is the fear of talking about money. When a salesperson has money issues it indicates that the salesperson could be uncomfortable talking about money, unable to uncover an actual budget or has an unreasonably low concept of how much money constitutes 'a lot'.
Why do many salespeople shy away from talking about money? One of the reasons is because of the way many of us were raised. It was impolite to ask how much money something cost, or how much money someone had.
The avoidance of talking about money can get in the way of an actual sale. Salespeople with money discomfort will often inappropriately propose; either high or low because of a lack of awareness over how much money the prospect will spend. This can also happen when the salesperson isn't comfortable with the amount of money being talked about.
Salespeople need to get more comfortable in raising the subject of money at the right time. There are times when salespeople should talk about money and there are times when they should not. Usually, salespeople bring up money too soon when the prospect asks how much their product or service will cost. This is where salespeople need to learn to not panic and slow down. Frequently, salespeople raise the topic of money too late into the call and this typically happens after they’ve given away their time and expertise.
There is a time and a place to talk about money in the sales call and it after the PAIN step of the Sandler Training selling system. Salespeople should not talk about money in a sales call before they understand their prospect’s pains, problems, and frustrations are costing them; then lead the conversation toward uncovering the prospect’s budget.
80% of salespeople have some element of the money weakness. Overcoming this hang-up could mean 30% more business for the individual. Join us for an upcoming event designed to help you/your people overcome dealing with these challenges.