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Sales Coaching Money Objections 
By: Cheryl A. Clausen
How do you respond when a prospect tells you they don't have any money? What do you do when a prospect tells you they want more money? Do you accept these statements as fact? If you do you're falling into a sales trap that means no sale for you. Even though their statements sound logical you're missing the critical information you need to make a sale. When you hear that someone doesn't have any money you think you should just remove them from your prospecting list or you should wait until they do have money. You're missing a real opportunity, and you aren't even aware of it.
Lack of money is nothing more than an objection to get you to go away because what your offering isn't valuable to them. No one buys anything unless whatever they're buying is worth more to them than the money they have to part with to get it. It doesn't matter whether you're dealing with people in the upper spectrum of wealth or the lower. People will only buy the things that are more valuable to them. A local roofer likes to tell the story about showing up to do a job one day, and being told by the home owners that his services wouldn't be needed after all. Now the roofer could plainly see that the roof hadn't been repaired and that the damage to the roof was enough to cause internal structural damage to the interior of the home if not now, in the very near future. So he asked the home owner if they had a lower bid, or what had caused them to change their minds. The home owner got a big grin and invited the roofer into their home to show him the new big screen TV they purchased instead of repairing the roof. The home owner explained they could get the roof repaired later, but that they needed the TV to watch the upcoming big game.
No matter who you're talking to or what you're trying to sell them lack of money is the prospects way of saying you haven't demonstrated value to them. It's your job to figure out what they really want and why that's important to them. If you don't you have a "no sale". This is also true if a prospect tells you they want more money. No one actually wants more money they want what money can buy. When you hear a prospect say they want more money your natural instinct is to sell more money. But that is a fatal mistake because you're going down the wrong trail.
Don't try to sell more money. You have to find out why they want more money. If they had more money what would it mean for them, what would it allow them to do, what would it allow them to have, or what would it allow them to be? You have to know the answer to these questions and how important those things are to the prospect before you can sell money.
The real driver is emotional. When you hear they don't have enough money, or they want money you now know you have more work to do to get the insurance sales you want. Currently when you hear these words you either walk away, or you jump ahead trying to make the sale.
Slow down and step back. This is where you have to go to work and discover the underlying truth. Discover what they really want, and how it would impact them to have it. Help them to discover how your solution will help them to get what they want.
Article Source: http://www.uberarticles.com/articles
Author: Cheryl Clausen can help you get unstuck. Find out how your Sales Skills match up. What if you just had more time? Improve your Time Management Skills, check this out.
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