What do you do when you lose a sale?
Sure, we all don’t like losing sales. No one does.
How you react when you lose a sale is important. Let’s make some assumptions – you are pitching to the client because you worked with them to obtain an opportunity to offer. And, you sought that opportunity because when engaging with them you identified them as a business worth pursuing. And, you engaged with them because your research suggested this. And, you started researching them because you identified them as an ideal client.
So, if they are an ideal client – do you slink away with your tail between your legs never to be seen again by that client. Blame the clients for making a poor choice or not seeing the obvious. Blame your competitors for dropping their price.
A good sales professional will:
- Ask for feedback as to their proposal and why they missed a great opportunity?
- Review this feedback against what they thought they did?
- Review whether they could have or should have taken a different approach against this feedback
- Ensure they leave the door open with the client to stay in touch
Very few people have ever gone through their life, let alone sales career, without experiencing defeat. The good ones take the opportunity to learn from their losses. The good ones know that their ideal clients are worth pursuing. Tenaciously.