Talking about the Economic Outlook

Question

With the markets fairly bearish and the economic outlook not the best, how has this changed your approach for interacting with net-new customers?

Are you avoiding the subject, since an upcoming recession might cause them to allocate their budget differently and cut spend? And why remind them of the bad news

Are you only triple checking budget approval?

Are you trying to highlight how your product is more important now since they need to increase revenue/decrease costs even more now?

........

At least on my end, I have been talking to people and learning where the new priorities are knowing that they must of changed and are anticipating a recession. Knowing that my product can decrease costs in XYZ areas, I am talking about why CXOs should invest and showing how an investment now can be a competitive advantage.

Been having mixed reviews so would love to hear how people are handling negative outlooks

Accepted Answer

If you build in something that provides demonstrable savings as a part of the evaluation then you aren’t hurting.

Answer

My customers tend to fix their budgets a year in advance so it’s not affecting me that much. But it might next year.

Answer

My rig eliminates software cost and headache, so its baked-in to some of the outreach and more of the presentation. It's also a light lever. For me the play has some element of making at least part of the business more efficient while eliminating 3rd party add-ons and people to manage them. So, I ignore the impending doom and lean on it to get a cheap yes when I can.

Short answer: It doesn't matter much.

Answer

Most are suggesting a turnaround towards the latter half of Q3 and the beginning of Q4, nobody has any clue what will happen. The Taiwan stuff is pretty scary though. It's not really impacting the sales I have seen in my new org though.

Answer

I would not avoid the subject. If it’s a real threat then bring it up, ask about it.

Answer

Doing my due diligence as always and paying attention to what matters most to the customer.  The end of last year was a bigger challenge than this year is shaping up to be.

Answer

I'm fortunate enough that my basket size is low, and its transactional cycle. Thankfully, there haven't been any price increases.

Answer

Nowadays, I start with pushing for high value high cost product for a higher commission, if they don't take it I flip it by pushing for a Low cost Average value for a second product we have that does nearly the same but not as good as the first one!

Kosta_Konfucius

Talking about the Economic Outlook

11 comments

Kosta_Konfucius

Talking about the Economic Outlook

11 comments

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