Close your next deal by understanding your client’s source of funding
People are inherently “quality” conscious if they have the money… There’s a reason most churches are nicer than most homes; they use other people’s money.
That’s not a bad thing – our churches depend on each of us, their faithful, today as they have for centuries – and as well they should. The point is that the same might be applicable in your business; with your customers and prospects.
Qualify each prospect well. Determine if the funds are available and in place. Understand where the funds originated. Is the client reinvesting back in to the company? Is the client securing financing? Or are the funds coming from an investor, a private equity firm? Are the funds restricted to your potential transaction? Or are they part of a greater growth strategy?
The more you know about the customer/prospect’s budget and source of funding, the better you can customize your proposal/offering to meet the client’s specific needs and expectations. You always want to sell “quality” over price as a differentiator between you and your competition. The question is, how conscious is your customer/prospect of “quality” over price? Find out. Ask the right questions as you recall the church analogy above.
Now, go in peace…