Losing a sale is probably the biggest downer for sales agents. It is not only about the commission, the bonuses, or the promotion that follow the sale but the time and effort lost in trying to close it. Moreover, the personal accountability plus the guilt that you might not have done everything to make the sale are a heavy burden to carry.
There is hope for those who want to bounce back and learn from their mistakes. If you put your focus and effort in the right places, you can turn this loss into an opportunity.
Here are tips for completing the next sale.
Assessing your performance is the key to succeeding in your next sale. You have to be aware of what you have done right and wrong in your previous sales pitch to improve yourself. This is easier if you know what prevented you from closing the sale, that which undermined all your efforts. Areas to look out for are the presentation of the product, the way in which you approached the customer, and the templates and materials used in your presentation. You should also think about if you sounded helpful or pushy or gave too little or too much information, and if the prices were feasible or your competitors just are better than you. Determining the reason behind your loss can help you improve your tactics and succeed the next time.
This is a common dilemma among businesses, big and small, as the comparative mindset of customers is always in play. A value proposition strategy should be executed for the client to break free from competitive price battles. How? Make sure that your client is aware of the many benefits and advantages that your services have over the competition’s offerings. Leave nothing out of the discussion. In this way, not only do you leverage your product and services but you also gain customer trust and loyalty.
Demonstrate a Sense of Urgency
Yes, patience is a virtue that sales agents must possess. However, being willing to wait, say, two months, six months, or up to a year will have a negative effect on your business. You must work harder than this. The law of supply and demand can push your client to make a decision faster.
Create the Perfect Sales Process
This might take time, but try to create a sales flow process that is suitable for various kinds of customers.
Your road map to success must be clear. The company’s goal is to make sure that its sales agents — or their “front liners,” as they call them — are fully aware of where they are going as well as how they intend to get there. If they don’t know this, sales agents will only work for themselves and not for the company, and a mentality of accountability will never be instilled. Therefore, the cycle of losing a sale will repeat itself. If you are accompanied by external and internal motivation, your path to success will be smoother and more comfortable.
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