In order to win more, it’s important to put yourself in a position to lose more or take more risks. How are you reacting to those losses and what follow up are you doing to ensure you learned from the loss?
For the purposes of this post, loss is defined by a client saying no to something you are trying to sell them.
In order to learn a lesson from a loss in sales, ask yourself the following questions:
- Did you know the customer’s objective and overall goal?
- Did your product help to achieve that objective or goal?
- Did you explain your product, so the customer understood their WIFM (What’s In It For Me) and how the product would help them achieve their objective or goal?
If you did the above and still got a no, you know you missed on something above and now you can learn by dissecting where you missed.
- Did you have the customer’s objective correct? Did we take the right steps to ensure a positive result?
- If yes, did they understand why your product would help them reach their objectives?
- If yes, did they believe your product would help them to achieve their objective?
- If yes, were they comfortable with the price?
- If they weren’t comfortable with the amount, what amount would they be comfortable paying to get the result you have discussed?
The famous sales motto of “no means not now” is only true if we learn from that loss in sales. Losing allows you to approach situations differently in the future, and when we do that, we will turn our losses into wins!