Downturn Pitching Vision Over Momentum
Back in November '22, the OECD published its 2023 GDP forecasts. Although without decent track record in such divinations, most leading market economies will, it projected, see growth. A problem pair did exist though; Germany & UK.
If '23 is to see a contraction in these major countries (-0.3 & -0.4pc respectively, it claimed) then if you sell into them, how are you best advised to go about doing so?
A decade back we faced the GFC. An American-led downturn lasting roughly 18 months during 2008 and '09. Yet these global financial crisis ripples suppressed business spending for what seemed like longer, until 2011.
I blogged on this extensively throughout. Searching for the ideas, examples and results that powered solution sales success in such tough conditions.
I now see one model of entrepreneurial activity that we might adapt for selling when potential client budgets are at best frozen, and discretionary spend banned.
One which distinguishes between those noisily hopping onto the current wave, from the "transformative" with steadfast vision to change their small slice of the world regardless.
In the good times, buyers are prepared to spend on more what I read described as "momentum" purchasing. Bandwagonning onto the latest trend. Business sheeple not wanting to be left out, just in case.
In rougher climes, buyers spend on the issue that screams loudest. And that alone. If you are not solving a problem that they both recognise and acknowledge worthy of urgent redress, and perhaps crucially outguns other expenditure candidates, then no sale opportunity exists.
In recessions, it's carnage for those rushing into areas establishing themselves just prior the downturn. Price holds sway. Margins evaporate.
Those offering something substantive, that both heads off injurious possibility today as well as laying groundwork for multiple dividends tomorrow, are way more likely to survive the crash. And come out the other side so much stronger.
If you're in the fad-chasing camp, then best you find an angle that - unique to you - turns you in your prospect eyes into a solid staple when the cycle begins to upturn.