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Is it timing or budget that is the bigger challenge for your prospects?

My gut feeling is that budgets are perhaps the harder nut to crack in this environment. While 'timing' might have been a more dramatic short term concern in Mar-Apr, I suspect things should now be getting more constrained by budget.
When we looked at sample call data (~1Million minutes) in Wingman, we saw this:
50% more calls had mentions of timing related concerns versus budget concerns in June.

What has been your experience?

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    • Profile picture of Matt Cameron
      @mattcameron
      ( 590 POINTS )
      1 month, 2 weeks ago

      Shruti, my observation and experience (2000, 2008 & now) is that timing is more often a euphamism for ‘uncertainty’ and risk mitigation if we are talking SMB, mid0market or venture backed.. Companies may have the money today and the need, but unless it is mission critical, most boards have instructed CEOs to save their acorns just in case and to extend runway as far as possible.

      If you are talking about publicly listed ocmpanies, then ‘timing’ is more of a concern – It is a matter of being n the consideration set of operational necessities (Increase revenue or decrease cost with a <12mth payback).

      • Profile picture of Shruti Kapoor
        @wingwoman
        ( 700 POINTS )
        1 month, 1 week ago

        That’s so true Matt. Uncertainty makes people freeze in the their tracks. They are more challenged to be visionaries and it becomes a case of conservation. It is good to see that slowly companies are thawing out of inaction but they will continue to tread more carefully and hence timing and decision processes will be impacted, even as budgets might be available.

    • Profile picture of James Murphy
      @jamesmurphy
      ( 250 POINTS )
      1 month, 2 weeks ago

      In. my experience, timing and budget are rarely the issue and they are surface level objections. More times than not, the actual reasoning is because they do not understand how the time and budget investment will positively impact the business or the person you were dealing with was unable to convey the message clearly to the additional stake holders.

      Currently, the surface level objection we hear the most initially is timing. Budgets are being reallocated to areas that can improve overall business and create long term meaningful impact.

      • Profile picture of Shruti Kapoor
        @wingwoman
        ( 700 POINTS )
        1 month, 1 week ago

        James you are right – ofcourse I am also comparing pre-COVID to now – in both cases the baseline level of superficial objections exists. And yes creating urgency is also part of the sales job.

    • Profile picture of Trish Bertuzzi
      @bertuzzitrish
      ( 750 POINTS )
      1 month, 1 week ago

      Let me play devil’s advocate here Shruti. In this selling time the biggest competitor we all have is status quo. Companies are reluctant to change as they view the future with uncertainty. If you can paint a vision of a positive return and future while making change, budget and timing will follow. Status quo is a nasty little competitor but it can be beat!

      • Profile picture of Shruti Kapoor
        @wingwoman
        ( 700 POINTS )
        1 month, 1 week ago

        Absolutely spot on Bert. Ofcourse that has always been the case – I was looking at the baseline of what was being said in February versus July 🙂

    • Profile picture of Vikrant Bafna
      @vikrant
      ( 930 POINTS )
      1 month, 1 week ago

      In my perspective, it all boils down to whether your product is a must-have or nice to have during such times when every dollar is heavily scrutinized by the buying committee. If there is a genuine need & you have proven enough value then prospects will inevitably find the budget.

      Timing is short term objection & we must not get bogged down IF the prospect is willingly giving a reason & a clear timeframe to reengage in future.

      Interested to know how others feel about this.

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