Get an SEO budget up-front to help win new business

By getting a budget up front, my own prospect to new client conversion rate has always been very good because I always got a budget that my potential clients were happy to invest.

By getting a budget, it means that price will never ever be the reason for you losing the sale. Now that’s a major step forward within the whole sales process.

I know exactly what you’re thinking! I can hear it under your breath:

“But prospects never give me a budget, even if I ask for one.”

I hear you and I have gone through the exact same thing myself. Therefore, over the years, I have been testing and tweaking different ways of dragging a budget from prospects. Here is usually how the conversation goes:

Me: “Yes, I can help you to increase new business but first I need to know what budget you have to make this work?”

Prospect: “I don’t really have a set budget.” OR “I just want a proposal so I can look it over.”

Me: “The fact is, I have clients that pay me £500 per month and others that pay me £10,000 per month. The more they invest, the more effort I am able to put into their campaign, the more targeted traffic they will receive which all results in a higher return. There is just no point in putting a proposal together for you based on £4,000 per month if your marketing budget only stretches to £700 at most. This is just wasting both of our time. With this in mind, which end of the scale are you at?”

WAIT FOR THEM TO ANSWER

Prospect: “It’s probably somewhere in between.”

Me: “Thanks. So, if I put a proposal together based on £2,500 per month that demonstrated your estimated return on investment, would you seriously consider it?”

Prospect: “Yes, I would.”

Me: “That’s great news. In order for us me calculate an accurate return I just need to know what your average client is worth to you - in revenue terms that is. I also need to know what your lead-to-sales conversion rate is and what you need to happen to see this campaign as successful.”

Prospect: “Well an average sale is worth around £1,500 and I convert about 20% of all leads into business.”

Me: “And what sort of return would you need to receive to make this work for you?”

Prospect: “Around the £20K per month mark.”

Me: “Fantastic. I don’t see any reason we are not able to help you. Give me a couple of days to put a proposal together and I will give you a call once you have had time to go through it. I’m free either next Tuesday or Thursday. Which day is best for you?”

This conversation works for about 95% of all prospects calls I have made. If for whatever reason they just won’t give you a budget, you either must let them know that you are not able to move forward (which sometimes forces them into submission) or make a calculated guess.