Now why would you want to know how to lose a sale?
I mean, you’re paid to close sales, not lose em. Right?
Well if you know how to lose a sale, then maybe you can become aware of behavior in the future when you are doing something that will cost you a deal.
1) Talk AT Your Prospects
Some sales people think they are born sales people because they can spout pitches off like a late night TV informercial.
Glibness is entertaining, but salesmen who talk AT their prospects all the time, don’t learn anything from or about their prospects or the deal.
If your main sales technique is to espouse all the fine benefits of your products to as many prospects as you can, then you are playing the numbers game.
Yes, talk, talk, and talk AT enough prospects and a few will buy, but you will lose most of em, and man is that a lot of work.
2) Don’t Hear What’s Being Said
When you are too busy talking, it’s difficult to hear what’s being said to you when your prospect does speak.
If your brain is too busy thinking about what your gonna say next, then you can’t consider and respond properly to what your prospects are saying.
Prospect’s know when you are not listening, or when you are not hearing them.
They notice it, and they don’t like it.
You lose rapport, and you lose valuable insight into what’s going on with the sale.
3) Never Ask Any Hard Private or Personal Questions
Most of us were taught as children not to ask about money and not to ask strangers questions about their personal lives or their feelings.
The thing is though, sales is all about money and feelings. Whether you are selling to business people or to consumers, all buying decisions are emotional decisions about money.
If you stay away from these two areas, you won’t know till you have to discount whether they’ve got enough bux to spend. And you won’t know what’s driving the deal, depriving you of the leverage to work the sale to a close.
4) Accept Superficial Answers to Your Questions
Some sales people do ask some good questions, but they stop themselves from probing further when they get a weak, superficial or vague answer.
I’m talking about questions like “Why are you buying this?” and tolerating useless answers like “Because we need a new one.”
Such an answer tells you nothing. And if you move forward without knowing why the prospect is buying, your gonna have a heck of time determining if they are going to buy from you or your competition until it’s too late.
5) Drop Your Price When Told Your Competition is Winning
The first warning of impending doom for most sales people is when they prospect talks about an important feature that your competitor has and wants to know if you have a similar capability.
Many sales people react when they don’t by dropping their price. When you do, you are admitting that your product is weaker, is inadequate, and is probably not the best solution for the prospect.
Instead you shoulda found out in the beginning what all the important needs and wants were (as well as their priority), so you could best position your capabilities or get out if you couldn’t meet the prospect’s requirements.
Losing slow is painful. And costly.
Better to find out early if you can win or not, and walk when you can’t.
That aint losing. That’s walking away to fight again another day.
Sell with Pride,
Shameless Shamus Brown
P.S. The most money is made in selling as a result of your actions and decisions at the beginning of the sale. Discover my method for kickin ass in sales right here.