In 6 Things They Mean When They Have No Money, Naomi Dunford does an amazing job of reading between the lines. Her interpretation of what consumers mean but don't say is simply detailed in her blog entry. Naomi starts by putting the reader into 3 categories:

1. People who sell things, or want to sell things.

2. People who are, without exaggeration, destitute and are very sensibly finding free information online about starting and running an ittybiz.

3. People who are financially comfortable but like to wave the I’m-so-fucking-liberal flag. (We know who you are. We can identify you by your screaming about the plight of the poor, while donating less than 1% of your money and 0% of your time to charitable causes.)

I would say that I fall into the first category. When Naomi and her company put out a new product, she receives feedback from people who tell her they have no money to make a purchase. I get this email when I reach out to new prospects. I start to question whether my price is competitive for what I offer. According to Naomi, they are lying to you. She breaks down what, "I have no money" really means.

1. I’ve bought four [things like your product] in the last two months and haven’t used any of them. I’m getting really disillusioned and I’m blaming myself for buying things and not using them. I feel I don’t deserve to buy your thing.

2. My spouse is really pissed off at me because I’ve been spending too much money on the internet/on clothes/on these crazy make-money-online schemes. Your product is not worth making things awkward with my spouse.

3. The last three [things similar to what you sell] I’ve bought haven’t come close to living up to their promises. Now I don’t really trust them, even from you. I think it sounds good right now because I’m excited, but when I actually buy it, I’m going to be really disappointed and mad at myself because I should have known better.

4. My marriage/job/life sucks, and I need some little conveniences to keep me going. (Latte on the way to work. Sending the kids with lunch money instead of lunch. Sending MYSELF with lunch money instead of lunch.) I CAN afford your thing (I do have the money) but if I bought it, I’d have to give up my little conveniences, and I’m not willing to do that.

5. I have another completely valid reason for not buying, but it takes too long to explain and it’s kind of embarrassing. (Examples: I drink too much. I have a feeling my spouse is about to leave me and I need to make sure I have money aside for a divorce and/or alimony. I just came very close to maxing out my credit card, and there’s a big psychological difference between an ALMOST maxed out card and an ACTUALLY maxed out card, and buying your thing would really freak me out.)

6. I don’t want to buy your thing but, for whatever reason, I feel the need to justify myself to you. Saying I don’t have the money feels like an inarguable and socially acceptable white lie. I get to feel good because I said nice things about your product, but I don’t actually have to part with my money.
I have to admit, I think #6 applies to me when I am propositioned to buy something. Honestly, I think I did this just last week to a persistent vendor on the phone. I have some money. I chose to spend it on another tools, products or services. Stop calling me!

This further perpetuate Naomi's point that those people really do have money. They're just spending it else where. If that consumer really wanted what you have and can not afford it, he would find a way.

They could split the cost [with a colleague]

They could offer to barter. (See my entry on October 21, 2009)

They could request a payment plan.

They could sell their guitar.

They could cut down on conveniences and luxuries for a few weeks.

Naomi's right. If you really want something, you find a way to get it. Even I saved my money, cut down on going out to eat and did hours of pricing research to buy the laptop that met my business requirements. I make these adjustments on a regular basis to get the things I want personally and professionally.

So, how do you entice the liars and the people taking their money else where? Naomi wisely says, "Nothing. Do absolutely nothing." I was relieved. That is exactly what I do when a prospect tells me they have no money. Well, I do say it a nice way, "Thank you for you time. If your situation changes, please don't hesitate to contact me in the future." Naomi has an excellent point, "If they thought it was overpriced, they would either tell you they thought it was overpriced, or they wouldn’t say anything." I completely agree that, "'No money' isn’t about price. It’s about value. They don’t currently see it in your thing, and your thing at a different price will probably not change anything. It might. It probably won’t."

The next time someone says, "I have no money". Don't over analyze their response and question the price of your product. Don't immediately offer them a discount. If they were truly interested, they would have approached you with an another payment option. And there is absolutely no benefit to getting angry or hostile. "People will give you ALL SORTS of reasons why they’re not buying. Be nice to them, but try not to pay too much attention to what the reasons are, because odds are, they’re not the real reasons."

Naomi Dunford is a a microbusiness marketing consultant, helping businesses with fewer than 5 employees create dynamic marketing campaigns on the cheap. She is a writer for IttyBiz.