Learning from Lost Sales: Turning a Negative into a Positive

You can’t win them all (if sales were that easy, everyone would be in the business). What you can do is learn from those lost sales. A good sales person loses a sale and moves on to the next prospect; a great sales person loses a sale and asks “why?”

Which sales person are you? The one who ignores defeat, or the one that learns from that defeat and constantly strives to be better? Remember, those who ignore the past are doomed to repeat it. So don’t risk losing future deals because you failed to address past failures.

Ask Yourself the Following Questions:

  • Was I able to effectively communicate with the customer?
  • Did I learn the prospect’s key needs and desired benefits?
  • If so, how did I address those needs?
  • How did the customer respond to me?
  • What sales techniques did I try?
  • How did the customer respond to those techniques?

Set Up a Post-Sale Debriefing with the Prospect

  • Ask the following question: “I’m always looking to improve, what could I have done better to earn your business?”
  • Don’t settle for vague answers. Ask “How do you mean?” or “Say more” to help probe for more detailed answers.
  • Don’t get defensive or angry. Take full responsibility for everything.
  • Don’t try to resell the prospect.

By learning from failed sales deals, you will grow as a sales person and become a much more efficient seller.

If you have any questions, contact Springboard Business Development by calling 410-832-7560 or click here today!

Located in Baltimore, Maryland, Springboard offers outsourced sales solutions for businesses in the professional services arena. It’s simple, while you focus on delivery, we bring our sales expertise and connections to focus on your business development challenges.

Our approach to business development makes it easy to find new clients without the concerns of sales team turn-over, lack of sales expertise and payroll.

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What Did You Learn from the Last Sale You Lost?

Cold Calling: Outdated, Ineffective, and Pointless

In today’s modern world, why are so many businesses relying on such an outdated sales method? Cold calling is a thing of the past.

The problem with cold calling is that it is not an effective use of time. If any other aspect of your business had a success rate of less than 10%, would you continue with it, or would you pull the plug? Of course you wouldn’t invest time and money in something so unproductive; you want your business to run as efficiently as possible. So why are you still relying on cold calling?

The goal of the average sales person making cold calls is to call 100-125 people a day with the hopes of generating 8-10 interested parties. That’s right, 8-10 people out of 125. Cold calling is a numbers game with no real winner.

There has got to be a better way.

The truth is that cold calling is outdated. With the help of the Internet, Social Media, television, talk radio, and magazines, consumers are now more educated than ever before. Consumers want real information, not a sales pitch. This is why cold calling does not work. If someone needs a certain product or service, they can search for it, research it, and purchase it without ever leaving their couch.

Consumers no longer need cold calls, so why are businesses still relying on cold calls?

You should have potential clients coming to you, whether it be by word of mouth, lead generation, advertising, or referrals. Today’s business world is built upon relationships and trust.

So instead of focusing your efforts on complete strangers, build a rapport with your current clients. One referral from a satisfied consumer is more valuable than 100 cold calls. Based on a Nielsen poll, 90% of consumers trust peers and less than 10% trust an unknown source.

This is one reason social media has become increasingly popular as a sales tool. It helps build relationships. Sales people can have more relevant intelligence on prospects and become great resources to their customers by using social media. Now companies have the opportunity to listen, engage and converse with a massive market place, like never before.

There has been a fundamental shift in the way business works. So maybe it is time for you to embrace the future of sales and finally shift your tactics away from ineffective cold calling.

If you have any questions about outsourcing, contact Springboard by calling 410-832-7560 or click here today!

At Springboard we offer outsourced sales solutions for businesses in the professional services arena. It’s simple, while you focus on delivery, we bring our sales expertise and connections to focus on your business development challenges.

Follow us on Facebook and Twitter as well!



Is Cold Calling A Thing of the Past? SalesHQ.Monster.com

Why Cold Calling is the Bottom of the Barrel Blog.InsideView.com