The Worst Feeling in Sales

If you are thinking that losing the sale is the worst feeling … evahh, you would be wrong. Sure, losing is bad but what’s even worse is …

Thinking about what you might have done differently that could have changed the outcome

Yeah, that really sucks. If it is that bad, how come it happens? The answer generally lies in one or two scenarios. Maybe even both.

You knew what you should be doing but there is a huge difference between knowing and reflex and/or …
You got lazy. Maybe you are lazy. Maybe you are overconfident. Same result.

I know because I have been guilty of both and since I probably hate losing even more than I like winning … I formulated a plan.

The only way that I could accept losing a deal would be if I could look at myself in the mirror and honestly conclude that I had done everything possible to win it.

On the surface, a pretty simple plan. Executing it would be more complex. There are so many aspects to selling and each would need to be performed to perfection. As perfection is an unrealistic goal, for any of us, I would just have to exert my best efforts in approaching it.

Still, I would need to look closely at each component of my sales process.

Define your process – And then perfect and practice it until it becomes reflex. Practice everything until it becomes reflex. I can’t stress this enough. Practice makes permanent so you are encouraged to practice the right things.

Evaluate your prospecting methods – I’m not a complete idiot. I will always look for ways to maximize my chances for securing the sale and that means focusing on repeat business from existing customers as well as referrals to new ones.

Now, there will be opportunities outside of these areas that will present themselves. They are going to have to meet certain criteria prior to their pursuit.

Choose your deals carefully – Lots of questions here …

Do they meet my Ideal Client Profile? If not … buh bye. You have to be honest with yourself and with them. There are going to be some deals that have your name written all over them and then there will be others where your name will be nowhere to be found.
Can I meet their needs and expectations? Do I have the right solution to meet these? Questions. Lots of questions.
Are they qualified and am I dealing with the M.A.N.? If you are not familiar … that is the person with the Money, the Authority, and the Need.
Can I identify, and get close to, other deal influencers? The best question that I know for this … “Who, in addition to yourself, will be involved in this decision?” Then … “When can I meet with them?” If there are others, and I can’t get in front of them … I’m walking.
If you don’t respect me or my time … life’s too short and I don’t need you either.
How do they base their buying decisions? If it is low bid … see ya later!
Who are my competitors and are they already entrenched with one? If yes, why would they change? “If you could ask your current supplier to do some things better, what would those be?”
Can I create a competitive advantage? I will always assume that there will be competition and I will also always be thinking about how I might create separation.

Anticipate challenges – Particularly in a competitive situation, you may have some perceived weaknesses that will likely be exploited by your competitors. Or, while you might have a great overall solution, it might not do everything that the client wants. That’s wants, not needs. Be ready or prepare to be caught with your pants down!

Set their expectations regarding the process – Your client is probably not fully knowledgeable about the process involved with buying and implementing your product or service. If you do not educate them on this, I can just about guarantee that they will define this process on their own and that you will not like it!

Plan your next steps – This is a continuous process and always review, for yourself and with your customer, where you have been previously prior to going forward.

Exceed all expectations – You are setting the time frames for this process. Remember, if you don’t, they will. Now, exceed those expectations and do so consistently.

If something goes south … you make that call. When a customer calls to inquire about the status of … anything … you have not done your job and have likely screwed yourself in the process.

Clarify and confirm. Never assume – Questions are going to come up and sometimes those questions are going to be objections. Do you fully understand them? Then, did you answer them to their satisfaction? Always, always, clarify and then confirm.

Give an awesome presentation – And finish it by confirming agreement with your solution! In fact, confirm as you go along. These are trial closes and they are designed to take your prospect’s temperature.

Create a quality proposal – You’ve come this far so don’t screw the pooch by letting down now. Aka … getting lazy. Include a cover letter, how you address their needs, references, implementation process, and a detailed order form. Press hard for multiple copies.

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Craig M. Jamieson

Managing Member at Adaptive Business Services

Craig M. Jamieson is a lifelong B2B salesperson, manager, owner, and a networking enthusiast. Adaptive Business Services provides solutions related to the sales professional. We are a Nimble CRM Solution Partner. Craig also conducts training and workshops primarily in social selling and communication skills. Craig is also the author of "The Small Business' Guide to Social CRM", now available on Amazon!