Overcoming Finance Based Objections

‘We can’t afford this right now’ – How to overcome finance based objections like this

In working alongside a large number of partners across the country, we’ve discovered that a high proportion of the issues they encounter are when prospects and clients object to their solutions on financial grounds.


It is rare that a lack of money is the only reason a prospect hasn’t chosen your solution, so we are here to provide you with some tactics and strategies for overcoming objections as and when they arrive in your proposals and negotiations.

‘We can’t afford this right now’

If the prospect tells you this, there are typically only three options. They:


  • There is another objection that you haven’t identified
  • They genuinely cannot afford your solution.
  • Do not understand the true value of what you are proposing


Whilst we’d like to avoid sweeping statements, in most cases a sales professional will start at the bottom of this list and work upwards, when in reality they should start at the top and work down.


It is likely that there is another reason why they are not investing in your solution. It is your job to identify whether or not you can find and overcome that objection or more importantly, identify the problem so that you can ensure you do not repeat the issue in future proposals.

 ‘XX is offering everything you are but cheaper’

As part of your overall sales and industry-specific education you should be taking time to undertake competitor analysis. It is important to understand the strengths and weaknesses of your competitors if you hope to be successful in your sales role.


In this scenario, the worst thing you can do is rush to discount your services. Instead you should look to:


  • Identify your strengths and learn to promote them in a compelling way
  • Identify your weaknesses and ensure you are aware of workarounds and/or making recommendations internally to improve these weaknesses
  • Identify the strengths and weaknesses of your competitors so that you can overcome them in a professional, accurate and powerful way.

‘We don’t have the cashflow until XX’

When this objection arises, you have three options that you should consider before deciding how you will approach this issue with the client:


  • An option to spread the cost. We are obviously available to help you should you need help in setting up your finance programme and in supporting partners we remove the hassle from offering finance to your clients
    Find out more how we can help you start offering finance in as little as 48 hours..
  • Is any of the functionality include a ‘nice to have’ rather than a ‘must have’. If anything falls into this category, could you produce a secondary proposal that would reduce the cost in line with this?
  • Can you help them calculate the cost benefit that the purchase will provide? Do you have other case studies, industry standards or ROI calculations based on solid findings? It’s crucial to be transparent here and ensure the forecasts are accurate..


By ensuring you have considered all three options in every proposal you make, you are ensuring you have the best possible understanding of your prospects (and clients). In doing so, you are in the best possible position to understand who needs your solutions and when. In turn this will increase your likelihood of success as you are more capable of understanding the needs of your prospects.

‘It’s not worth is as it doesn’t do this and this and this and this and this’

The validity of this objection is down to two things.


  • How much of a specialist is the person who is providing the objection?
  • How well did you propose your solution?


If there is a long list of items that accurately demonstrate that your solution is not a good fit and never will be, then it is time to conclude that the client is correct and that moving forwards would be a mistake. However, if they have simply misunderstood and are listing areas that you are capable of resolving, then the onus lies with you to provide feedback that helps them to understand the information you have been trying to present to them.


This feedback should then dictate your future presentations, demonstrations and proposals as it is likely that you are simply not explaining certain elements of your proposal strongly enough. At this point we’d recommend undertaking more research either with specialists in your team or even better if you work with third parties to provide the solution then ensure you work with them to improve your understanding and so ability to explain why your solution is the strongest on the market.


What to do if the Decision Maker Still Isn’t Convinced

If you have strongly presented your solution, overcome objections and have provided the best option and the decision maker still isn’t convinced you might find this is still not enough to obtain approval for the project.


When this happens. Your options are:


  • Rework the proposal into a more suitable solution
  • Establish the lessons to be learned and move on.


Whilst many people would argue that discounting is then a serious and viable option, the price alone is very rarely going to be the ultimately deciding factor in such an important strategic decision. One of the greatest benefits we hear time and time again from our partners is that our finance solutions allow them to offer more affordable payment terms without having to discount their products.

Developing your ability to overcome objections by understanding and listening to what your clients are telling you is key to being a great sales professional.  We offer partners of our partner programme free training resources on topics such as ‘objection handling with finance’, ‘guide to finance. Register your interest in joining our partner programme to access to all this and more.