If you’re in sales you are inevitably going to lose a sale. Yeah I know that’s harsh but a reality. The question is what do you do when YOU lose a sale?
The average sales person sulks for about a week, grumbles about missing quota then moves on to finding a new opportunity. WRONG!
If you’re in this trap you’ll be there forever.
It’s critical you maintain and build on the relationship you’ve started. Remember, customer implementations don’t always go well, managements changes, even needs change. Just because you lose one opportunity with a prospect doesn’t mean there aren’t more to come.
This is what I do when I lose a sale.
- Send a thank you note. Yes, send a thank you note. Expressing thanks goes a long way to endearing people to you. Thank the prospect for the opportunity to have worked with them. Wish them success in their purchase. Emphasize you are still there for them in the future.
- Set a calendar date 30 days out to to followup with the prospect to see how his purchase and implementation has gone.
- If you come across an interesting article, industry trend, etc. relevant to your customer send that to him. Continue to be a resource for your prospect.
- Set a calendar item for 90 days from that date to follow-up with his implementation again. Dig to see if there are people he knows or other departments that might have an appropriate need for your product.
- Send holiday wishes throughout the year.
- Basically BUILD on your existing relationship!
Remember a NO today doesn’t mean a NO forever. Business needs change, management teams change, markets change, people move to new opportunities, etc. You want to be there when those changes arise.
For three years I’ve maintained and built a relationship with a prospect that chose a competitor’s product. Guess what three years later we’re now doing business together. Why? Because I kept working with the prospect. I kept building the relationship. And when, he became disgruntled with the service is had been receiving guess who he called? Me, the guy that kept interacting with him.
Remember every thing you do today leads to business tomorrow. The questions is are taking yourself out of the game when you’re told NO today? Or are picking yourself up, dusting your self off and getting ready for round 2?
Happy Hunting!