March 1, 2017

Do you know how to budget-qualify your prospect?

It’s down to the wire. Your prospect is convinced that you have the best solution. But, all of a sudden, the prospect is concerned about how to pay for the solution. Shouldn’t this objection have come up earlier in the sales cycle?

If you are following a sales methodology, you know that you need to determine the need, obtain authority to purchase, and establish a timeline and budget to qualify a prospect up front. Sometimes though, in our zeal, we skip a few steps here and there. This can lead to an unwelcome surprise when you are asking for the order.

How to Budget-Qualify Your Prospect

Avoid surprises by ensuring the person has a sufficient budget for the solution you are offering. The best time to begin budget discussions is early in the sales cycle, in the qualification stage. Some typical questions you might ask are:

  • Are you responsible for establishing the budget?
  • Do you already have a budget allocated? If not, when do you expect that you will?
  • How much are you planning to invest?
  • How does the budget sign-off process work?
  • What are you currently spending on this issue?
  • Are you interested in moving your expenditures from CAPEX to OPEX?

How Can Arrow Capital Solutions Help Close Deals?

Arrow offers partners and their customers an array of financial options that can help you overcome just about any financial objections. Ideally, you should bring in Arrow Capital Solutions representatives as soon as you have budget-qualified the prospect. Prospects may already be looking for financing, and they don’t know what Arrow offers. “Often times we see partners bring in Arrow Capital Solutions when the sale is not going as planned,” said Scott Robinson, Arrow National Sales Director for Cyber Security. “Since a majority of all deals are financed, it only makes sense to bring in Arrow Capital Solutions early in the sales cycle.”

Scott Robinson Quote

Arrow Capital Solutions works with partners and their end-user customers to develop customized solutions. “We’ve never had a situation where we couldn’t find a solution,” added Robinson.
Partners who have used Arrow Capital Solutions benefit from the financial programs. Advantages include:

  • Partners are fully paid at the time of sale, and Arrow maintains the risk of exposure.
  • It’s a very smooth process from Arrow through the partner to the end-customer, resulting in no sales delay with excessive paperwork.
  • Finance objections are quickly overcome, making business close faster.

“We have an excellent understanding of customer needs, and we can develop unique solutions for every situation,” said Wayne Peters, Senior Director, Arrow Capital Solutions. “Taking advantage of Arrow’s financing solutions ensures that both the solutions provider and the vendor can accelerate revenue recognition. As a result, we aim to create a win-win for our partners, vendors and the end-customer.”

Wayne Peters Pull Quote

Arrow finances all brands of hardware, software and services, both on and off the Arrow line card. We can deliver 100% software and services financing, as well as first payment deferrals from 30 to 365 days. Arrow is a full-service lender, offering financing for anything from IT, to medical equipment, to mobility — even warehouse equipment! If you can sell it or acquire it, Arrow can probably finance it.

To summarize, early on in your prospect qualification, ask the right questions to determine if your customer has the budget to pay for the solution they need. If they need standard, non-traditional or unique financing to help make their IT requirements a reality, be sure to call Arrow Capital Solutions to help you win the business.

If you would like additional information on any Arrow Capital Solutions plans, please contact Tim Bertrand (West) at tbertrand@arrow.com or Bryan Dement (East) at bdement@arrow.com.

Editor’s Note: This articles was originally posted in December 2016 and has been updated for accuracy and comprehensiveness.