What to Do When Your Client Says ‘I haven’t got any Money!’

What to Do When Your Client Says ‘I haven’t got any Money!’

‘’I’m broke’’, ‘’I’m penniless’’, ‘’No money to invest”, “I don’t have a budget” are just a few examples of the answers some potential clients may give when approached with the purchase of a product. I think everyone in business, especially those in network marketing has heard this at least once. Some of us have laughed because we too were feeling the consequences of the market downfall, others were embarrassed for asking money out of broke people and others simply rephrased their offer.

As entrepreneurs we have learned that customers sometimes misevaluate the value a product can bring them and turn down our genuine offers to take lousy ones our competitors are offering. But this is no reason to have a fit, insult them, beg them or reconsider your product and price. You have to understand that the customer is king but all kings have advisors that guide them in their decision-making. In our case you - the business man or woman- will guide the king or queen in accepting your deal and taking out the $$$.

I see you are skeptical. You want to ask how on earth you are supposed to make the customer accept the deal. Tie him? Tickle him? Implore him? No don’t worry, we don’t need to resort to those marketing tacticsJ. As a marketing specialist I don’t encourage fellow ‘sellers’ to push a client who has said NO. For you to be really successful you have to have all the cards in hand. And one of those cards includes understanding the client. What I’m going to help you understand today is what lies behind that client’s NO.

Read between the lines folks!

The ‘I don’t have money’ excuse sometimes is just that; an excuse! It might mean:

* I can afford it but I don’t want your stuff because I think it would be of no use to me whatsoever.
* I can afford it but I have my eyes on a competitive product.
* I can afford it but I bought similar (or so the potential customer believes) stuff before and was disappointed.
* I can afford it but I bought such products before and didn’t use them because I didn’t know how to get started or simply because it didn’t seem worth the effort anymore.
* I can afford it but the opportunity cost would be high as it would mean sacrificing other goods/services whose payback are quicker to obtain or more attractive.
* I really can’t afford it or so I think.
* I really can’t afford it.

Once you know why the customer said no you can help discard his doubts or misconceptions and get him to say yes. For example if the customer said no because of reason number 1 (these type of customers are the easiest to notice as they are dismissive or squarely say they don’t care), 2 (they might nod absentmindedly or smile at you feigning interest) or 3 (hints are that customer doesn’t let himself be convinced, he might be nearly mocking or brush you away) then as a seller you should be able to show him what your product has that the ones he purchased didn’t.

Show him the difference! Use your gut skills to show him how hard your team has been working to produce that jewel and why it simply isn’t the same ‘stuff’ as the other ones on the market.

If the client declined your offer for reason 4 (hints are he is not very at ease with the products you are showing him or else ask awkward questions) then see this as the opportunity to help a newbie and propose him you are sincere to help get him started. You might give him a call later in the week to see if he is all set. Believe me that is a good shot at customer loyalty.

As for those who fall in category 5 and 6 it is above all a question of value. Not their value but your product’s. The reason they don’t see the purchase of your product as a priority is because you have failed to show its value. Value surpasses price by far. It is not the price of your product that drove the customer away. It is the product’s lack of value. Keep one thing in mind: When we want something we go for it and get it. Same applies here. If the customer saw the value in your product he would do his hard best to get it, discount price or not. It would become his purchase list priority and he would put off buying a new TV and a GPS system to the next few months.

Also remember that even if the person really has financial difficulties but wants to buy your product solutions exist. Why not consider a payment plan or splitting cost with a partner?

I am confident your product or service has value. But what you have to do is show it to the potential customers. And the best way to do that is not to do it at all. Let me explain. If you go out of your way to show the customer how great your product is he might give in and buy it. Or he might not. But if he sees the value by himself with minimum input from your side then you are sure to tie this deal. The trick is that if a product is so good its value is actually visible then there is no reason why you will hear a ‘’Dah better luck with next customer.

Now how will you add value to your product or in other words how to make that value more evident? Adding value is in fact quite simple if your product is good. Make it simple.

* Clearly list the benefits on the packaging or on a nearby promotion board. You could list an example of a problem that this benefit solves.
* Concerning the packaging itself make it in accordance with your goal and brand image. Gold or silver colours for advanced products, a nice green or sea blue for an eco-friendly good or a bright eye-catching one for an innovative one.
* Brand image should be reinforced via campaigns. Remember that a campaign doesn’t necessarily have to be very costly. Depending on your target market a local painting contest could be just as effective, if not more, as a more lavish activity. Imagine the winner’s painting being used as your next product packaging. That’s what I call two in one!
* Testimonials are a great way to pass on positive vibes. A genuinely delighted client’s testimonial might convince another customer to trust you and try your product. Just be careful not to put too many as it usually has a descending effect.
* An affiliate program is a win-win step whereby you offer money for referrals. From an expense, your product becomes a source of income. Just be straight and keep your word as to referral fees and you will do just fine.
* Guarantees reassure customers, especially if the product is very expensive or if it is their first purchase of that kind or their first purchase with your business. A strong guarantee such as a 100% Satisfied Or Refunded drastically reduces post-purchase remorse and stress. And on your side if you know your product is value for money then you will offer the guarantee with confidence.
* I believe after-sales service is a must when you are dealing with people who have paid for your product or service. Everyone is getting into internet marketing it seems these days and half of them are buying those great packages we offer and yet so few of them know how to make the most of these tools. It is good practice to help them after the money has changed hands. As a seller provide it and as a customer expect it.
Remember it’s rarely about money, but it’s always about value. So go out there with the word VALUE in mind and show them who rules!