14/11/2013 - 06:30

Really, why did you lose the sale?

14/11/2013 - 06:30

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Really, why did you lose the sale?

Taking responsibility for your product and service level will help your sales much more than blaming others and complaining about price.

IN my experience, about three-quarters of salespeople complain about losing a sale because their price was too high. And all of them are wrong.

Losing the sale manifests itself in ‘blaming complaints’ about: price; unreturned phone calls; bidding; loyalty to others; and other blame-based excuses about why a sale does not take place and the relationship isn’t being built. Ouch.

Here are the major reasons why salespeople lose sales.

1. The customer was loyal to someone else

Your first job is to uncover what makes the customer loyal. What’s the real reason they continue to do business with someone else? Ask yourself if you and your company possess the same qualities.

2. Lack of real connection to or with the buyer

The prospective customer is looking for comfort, peace of mind, and assurance

3. Lack of engagement

You weren’t able to create real interactive dialogue.

4. Lack of perceived value

If the customer does not perceive genuine, definable value in your offer, then there is none.

5. Lack of perceived difference

If the customer does not perceive genuine, definable difference between you and your competition, then there is none.

6. Lack of relationship

When long-term relationship is present, truth, trust, and value are the basis of purchase.

7. Lack of hustle

Response time to a customer’s need for service and/or information are critical factors in purchase.

8. Poor salesmanship

This has fundamental flaws of preparedness and presentation skills. There’s an obvious lack of questioning skills or sales strategies that create a buying atmosphere.

9. Poor attitude

The way you present yourself and your word choice, combined with your tone and demeanour, leave a huge impression on the customer. And that impression is positive, neutral, or negative – and you choose how you made them feel.

10. Lack of ability to reduce or eliminate risk

This may be the prime factor in losing sales. And the least talked about. The simple answer is proof. Can you substantiate your claims?

10.5 Failing to do your best

Without a doubt, this is the biggest flaw in salespeople. Whether it’s attitude, belief, self-confidence, preparation, or follow up, your execution at a level less than best leaves a huge opening for your competition to win.

Reality: Rather than acknowledge these reasons above, salespeople blame the loss of a sale on price.

The reality (and life-long value) of why you lost a sale is forever silenced when you blame the loss on price, and move on to the next sale.

Reality: ‘The customer took the lowest price’ is as bogus as ‘The dog ate my homework’. The fact is, you let the customer control the selling/buying process. Not good.

The reality of blame: The opposite of blame is responsibility. In sales, responsibility is taken, not given. Be responsible to yourself and for yourself. Don’t blame the customer – help the customer. Do not let the real reasons you lost the sale get tangled up in blame.

Ask yourself why you really lost the sale? What could you have done to make it?

Blaming the lowest price is the easiest excuse for a salesperson to make. Customers take lowest price because they perceive your product or service is the same as your competition. Not good.

If you are sick of losing sales like that, then you better discover why they took the lowest price, and create greater value differentiation. And while this is easier said than done, it is by far the biggest sales and profit opportunity you possess.

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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