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The art and science behind losing sales deals

How do you lose sales? Some may think they have it down to a fine art while others may think there is a science behind it but it actually takes a bit of both. Losing sales happens when too much attention is paid either to the art of sales or the science of sales. To succeed and grow exponentially in your business you need to focus on both parts of the sales.

Here are six tips on how you can close more deals.

Personalize your sales strategy

You can’t go into sales thinking a one-size-fits-all sales strategy will work. You need to know what the pain points of your customer are and how your product or service will help the customer to reduce these pain points. By personalising your strategy according to the dynamics of your customer, they will feel appreciated and therefore put more value on the offering you are suggesting to them.

Know who you are selling to

Are you selling to individuals or a group of people? This is especially true in B2B (business to business) sales. It is no longer one person who is responsible for the purchase of a product or service. You need to make sure you have made contact with all the key decision makers who will be responsible for the purchase. You also need to identify who is the person most tenacious in the buying committee and win them over. They will fight for you to get your offering to the procurement stage. They are normally natural leaders and may not necessarily hold the executive position in the business.

Add value to the sales conversation

You need to be up to date on what is happening in the industry of your customer. You are required to know the pain points of customer and you can get a better idea of this by speaking to the people who work within the business. By doing your research of the company and the industry, you can add value to the sales conversation. This value will build trust between you and your customer and they will be more keen to do business with you in the future. Make sure that the information you share during the sales conversation is always relevant to the customer and their industry.

Create a compelling case for change

One of the mistakes of many sales people make is that they are unable to create a situation in which the customer feels the urgency to make a purchase. You need to highlight what the customer will lose by not making an investment into your product. It can be related to revenue, time, risk or losing out to their competition. You need to know what is important to them and highlight that loss to them if they don’t invest in your offering. Just be careful not to come across as a telemarketer.

Understand the customer experience

The customer experience starts at your first point of contact with your customer and may never end. Make sure you always communicating appropriately with your customer. Always follow-up and don’t leave things to chance. If you have sent an email and haven’t heard from you customer after a few days, call them. This will put you in a position to answer any hesitations which may be preventing them from moving through the sales funnel.

Ask the right questions

You need to ask the right questions during the whole buying process so that you will always know where you stand. This will also help you to be front of mind for your customer without being pushy.

By following these six tips you will be well on your way to closing more deals.

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