Selling does not have to be a number’s game. Companies and salespeople can improve future sales by studying the lost sales. When you imagine the number of hours and energy you have put forward, the only thing that you can be proud of is a call from a prospect telling you that he has changed his mind.
We all have been there. But the truth is, as a salesperson, you have the capability of closing almost every sales deal just like the top 1% of salespeople do. If you have been losing more sales than win, this article is about to show you a couple of things that you can start doing today to close more business.
1. Take Serious Study on the Sales System
Selling is a system. If you follow the sale system or circle, you will know the weak areas that you are performing poorly. If you have happen to have lost the sale in the past, all you need to do is study that particular sale from the presentation stage to the closing stage. From there, you will know the weak areas that are making you lose the sale.
If you have had past success, you can also take a close look on how you sealed that deal. If you start studying both the winning and losing sales, you will get a market gap that you are not fulfilling. It can be like you changed your presentation with the new deal that you lost. Or, it can be that you became so confident that you scared away the prospect. Taking both studies is the beginning of closing more business in the future.
2. Get Through Feedback from Your Previous Client Whom You Have Won the Sale
You have heard it a lot that you need to get feedback from past clients whom you have lost the sales. It is right. But, chances are only a few of those clients will be bluntly honest with you. Others will give you vague generalities like, ‘the product or services is not good enough’. You will not get a real answer that can help you close more business in the future. The only people that can help you are your previous customers, who have bought your services.
You can start conversation by telling them like:
“You are one of our most valuable customers. Now, my company wants to improve your life even better with this product or services. Why did you buy our product or services? What excited you about it? Is there anything that you would want our company to introduce or include in the service or product that can make your life easier and more comfortable?”
You can always get more creative and ask more questions. Now, depending on the answers that you will get, take a study of the kind of words your customer is using to describe your product or services. You will notice that they are using simple words, not corporate words that many salespeople use when doing their presentation. If you get the right words they use, this can help you change your presentation a little bit and use the exact words when doing a presentation to a new customer.
The exact words that the customers use are usually the hot buttons. Now, if your customers tell you that your company needs to improve in certain areas of your product or services, you need to be thankful because these customers will be buying from you for life. It means you can sell them more your product or services and they will be willing to buy. And you can always tell them how your product or services perfectly fit what they are saying.
As a sales company or a salesperson, it is so easy to get to know the concern for your existing customer so that you can see a way of selling to new customer.
3. Know Your Competitors
Chances are there is something unique that they are doing to close more sales deals. Your job is to study that. You begin by knowing their product or service better. Then your job is to come up with a major difference, which can be a great selling point. That difference is what you need to sell to the customer to close the deal. For you to get this, let me give you a short example about a pizza shop.
“Do you like pizza? Our competitor will tell you that they can create fresh mozzarella, but they don’t tell you that they buy it pre-shredded in a big plastic bag. At John’s Pizza, we hand-shred our mozzarella every morning. Our competitor will tell you how convenient their home delivery service is, but they won’t tell you that their average delivery time is over an hour. John’s Pizza delivers in 28 mins or, your pizza is free.”
The sales company and salespeople struggling today lost most deals in the past and moved to the next without doing a flashback of what happened. That is the key difference between top 1% of the salespeople that make it and the bottom 80% that are struggling.