Written by Sean McPheat |
Okay, so you’ve lost the sale you’ve been working so hard on.
Now, it’s a natual reaction to get angry, to sulk and to go into denial and all of those things but keep calm and try and focus.
I recommend that you have a system in place on how to deal with lost business. Here’s what you should do:
1. Find Out Why You “Lost”
So you might be fuming at the propsect who took up so much of your time and at this moment you’d like to throw them through a window but be professional about this. Call them up and find out the specific reasons why you didn’t get this business.
“Did we do anything wrong Mr Prospect?”
“Did you see value in our product/service?” If so what?
“What did the “winner” do that we didn’t Mr Prospect?”
Ask questions that will enable you to become a better sales person. Just a few tweaks here or there might be all it takes to make the difference. But you need to know what they are!
2. Follow Up
After you have received the feedback send the Prospect a thank you card or a personal letter. This will position you and your products and services in a positive light and might actually seed some doubts in their mind that they have made the right decision! There’s always another time, and you want them to come to you next time.
3. Keep A Level Head
Your mindset is crucial when going through this process. I can honestly say that I think a company is nuts if they use anyone else other than MTD Sales Training to improve their sales staff but it does happen from time to time. You’ve got to keep a level head and analyse the reasons why. And don’t assume it’s always on price either.
4. Keep Proving Your Worth
Put the prospect into an ongoing educational marketing and sales process. So you’ve lost this battle but it’s the war you’re interested in. Keep proving your worth over time by sending the prospect tips, newsletters, freebies and articles and keep educating them and helping them.
Over time, they will come back to you.
You win some, you lose some. That’s the nature of sales.
But take it on the chin and learn from any “lost business” and you will become a much stronger sales person for it.
Sean McPheat – The UK’s #1 Authority On Sales Success
Originally published: 3 November, 2008