Overcoming the #1 Sales Objection

What’s the #1 sales objection when you sell memberships?
“We don’t have the budget.”
We hear it every day and we will hear it every day after. This sales objection will always be the one to come up because it works. It’s effective with sales folks who don’t know how to overcome it. Here’s the strategy the Moery sales team uses:
First and foremost – mistakes are made when we lead with price or start talking about the dues level before we should. The key is to establish the value and benefits they will receive through their alignment with the organization – either as a member or a sponsor.
Many times the “budget objection” could be a smoke screen for other things like 1) I don’t understand what my company would get from this, and 2) I am not impressed enough to put myself on the line that this transaction is a good idea.
In either case…you’re sunk. And, in either case, budget isn’t the real issue.  The fact is organization’s surpass budgetary constraints all the time.  It’s not a big deal…IF THERE IS VALUE AND IT IS UNDERSTOOD.
However, if you have effectively established the value proposition – and, there is still a budget objection – I offer the following rebuttal, which is particularly good for phone calls – (doesn’t work as good with emails):
The prospect: I just don’t have the budget.
The response: I totally understand, budgets are important.  I have those guidelines myself. We’ve had a great discussion about whether this organization is the right fit – and, it looks like there are some great opportunities for a fantastic partnership. Let me ask you this, if it wasn’t the budget, and money wasn’t an issue, would you join?
Then shut up.
If they say “Yes,” now you’re still in business. Offer to talk about some payment plans or other ways of getting involved with the association.
If the prospect replies “No,” then we have much more work to do.  There is no value for any budget.
Another budget objections response is: “Have you ever gone over budget?”
The prospect: Yes.
The response: Oh yeah.  What were those circumstances?  My sense is the program was probably worth it and you were willing to consider some budget alternatives.  If you’re willing to work with me more, maybe we can find a way to work around this issue.
Through years of experience, I’ve learned the budget objection is usually a smokescreen. And, it works because you are not prepared for it.  Until now.