Monday, May 26, 2008

On Sales: Fair Trade

“I don’t finance!”

Have you ever heard that from a prospect even after you’ve done a great job of helping him buy emotionally? He says he wants your product, and he wants your company to install it. Furthermore, he really wants to do business with you. Unfortunately, he doesn’t have the wherewithal to make the required investment in cash, and now he says he doesn’t finance.

A prospect’s first statement after you’ve shown him the price is often the most significant. Frequently, we hear, “That’s more than I expected to pay.” Then, when you explain that you can arrange a series of affordable monthly investments, you may hear, “I don’t finance!”  The first of the two statements could mean that your prospect isn’t convinced that the product’s value justifies its price. In other words, he doesn’t want to trade his dollars for your product. You’ll want to clarify what he’s really saying. Does he mean, he can’t write a check for the entire amount, or is he saying that you have not yet convinced him that the product is priced fairly?

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