Seventy-four percent of salespeople complain about losing a sale because their price was too high. And Seventy-four of them are wrong.
How did you lose the sale?
Why did you lose the sale?
Was it really price? Or was it you?
Losing the sale manifests itself in “blaming complaints” about: price, unreturned phone calls, bidding, loyalty to others, and other blame-based excuses about why a sale does not take place, and the relationship isn’t being built. Ouch.
Here are the major reasons why salespeople lose sales:
1. The customer was loyal to someone else. Your first job is to uncover what makes the customer loyal. What’s the real reason they continue to do business with someone else? Ask yourself if you and your company possess the same qualities.
2. Lack of real connection to or with the buyer. The prospective customer is looking for comfort, peace of mind, and assurance.
3. Lack of engagement. You weren’t able to create real, interactive dialog.
4. Lack of perceived value. If the customer does not perceive genuine, definable value in your offer, then there is none.
5. Lack of perceived difference. If the customer does not perceive genuine, definable difference between you and your competition, then there is none.
6. Lack of relationship. When long-term relationship is present, truth, trust and value are the basis of purchase.
7. Lack of hustle. Response time to a customer’s need for service and/or information are critical factors in purchase.
8. Poor salesmanship. This has fundamental flaws of preparedness and presentation skills. There’s an obvious lack of questioning skills or sales strategies that create a buying atmosphere.
9. Poor attitude. The way you present yourself and your word choice combined with your tone and demeanor leave a HUGE impression on the customer. And that impression is either positive, neutral, or negative – and YOU CHOOSE how you made them feel.
10. Lack of ability to reduce or eliminate risk. This may be the prime factor in losing sales. And the least talked about. The simple answer is: PROOF. Can you substantiate your claims?
10.5 Failing to do your BEST. Without a doubt, this is the BIGGEST flaw in salespeople. Whether it’s attitude, belief, self-confidence, preparation or follow up, your execution at a level less than BEST leaves a huge opening for your competition to win.