Running their business as usual
Total budget lockdown
Pre-approved projects only
Open to new investments with a solid business case.
Here’s a sample narrative for uncovering this information:
Sample narrative:
“I know there is a lot of uncertainty in the market these days. As you can imagine, we’ve been talking to many companies in your space about how we can help and everyone’s in a bit of a different situation. Some are pressing forward with business as usual. Others are in a total budget lockdown and not taking on any new projects. Others are only moving forward to pre-approved projects, and some are open to new investments under specific sets of conditions. I’m curious, which of these situations is your company in at the moment?”
2. Advise & Qualify
After showcasing your knowledge of the market, assessing where the prospect lands on the buying spectrum, and empathizing with them, the next step in the narrative is providing an evidence-based qualification hook for why they should engage to see how they respond. The key here is guiding the customer toward your solution ideally using trustworthy, third-party data.
Note: in this case, I’ve used the value of technology investments as cayman islands telegram data the qualification hook, but sourcing similar hooks for your solution or industry is usually a simple Google or ChatGPT search away!
“Based on similar companies we’ve been talking to in your space/geography, those who are investing believe it will not only achieve a significant return but also help them emerge from the uncertainty in a much better competitive position. In fact, a study from Mckinsey that looked at how companies react during economic downturns showed that traditional cost reduction efforts had a 2% impact on the bottom line. But companies who invested in innovative digital tools like ours saw an incremental 5% cost reduction.”
3. Pause & Question
Science tells us that customers like their ideas more than they like your ideas. That’s why finishing your narrative by teasing the future, taking your foot off the gas, and passing the mic back to them is imperative. Asking them what they think the future might hold if they DON’T move forward with (or even evaluate) your solution provides them with a sense of control and helps you understand how much emotional value they associate with it.