Let’s talk about losing the deal – what it means and how you can actually benefit from it.

Losing a deal doesn’t need to be completely negative experience.

Be thankful for the opportunity to present your offering, learn something and increase your experience and exposure.

**If you have lost a deal and dented your confidence then check out our Confidence Booster**

Naturally in the short term you will experience the pain of losing the deal, the client and the money, but looking at everything in the longer term (one of the Selling Confidence™ Principles)

Sometimes the learnings from a lost deal can far outweigh the value that you would have got from closing the deal.

There are Four things you can do when you lose the deal:

Ask why.

If you have lost the deal then by all means you can ask the prospect why they decided not to proceed. Unless the relationship has deteriorated in the sales process then asked politely and with respect you should be able to learn how to improve for next time.

May I ask why you decided not to proceed?
What could we have offered you that would have made you proceed?
Why did you decide to choose XYZ supplier?

Think about next time.

Depending on the nature of your offering there is a chance that you have simply missed out on making the sale this time- there is often an opportunity to pitch for the same or a similar purchase down the track.

When would be best to speak with you about contract renewal?
This sale aside could our offer

Ask for a referral.

It seems counterintuitive, if someone is not proceeding with you then they are unlikely to recommend you to their peer group. But you would be surprised. And besides if you don’t ask, you don’t get.

We actually get a lot of our business through personal referral. Do you know any other people/companies that could benefit from our offering?
Would you know anyone who our offering would be more suited to?

Thank them.

Being polite is a core principle of Selling Confidence™. Thank the person for their time and wish them well for the future. Add them to your Christmas card list and keep the relationship alive with regular maintenance. A “no” is only ever a “no” for now- with nurturing it can become a “yes”

TAKE ACTION

Remember: Don’t chase them. Replace them.

Yes it can be terrible to lose a sale, yes it can dent your confidence and yes it’s not what we want, but only invest so much time in a client once they have declined. It’s far easier and more enjoyable to find new potential clients and opportunities than to focus on “convincing” someone to move to a “yes”

Let’s find some new opportunities:

**If you have lost a deal and dented your confidence then check out our Confidence Booster**