A Simple Fix for Lost Sales
Today’s advice applies to those who have met with their prospects, presented a proposal and are completely taken aback when their prospect declines becoming a new client. Something obviously went wrong. The preliminary steps to take are:
1. Ask why the prospect had a change of heart ~ know the reason for no! It’s a learning process.
2. You may be able to overcome the objection and still save the sale
3. Ask if this is a temporary delay or if their change of mind prevents it from ever happening.
Part II
Very often the difficulty lies in the proposal itself. When I share the following in person I always observe a surprised look and “ah-ha” moment from the other party:
You must always ask the prospect’s budget. Relay you have multiple products and services, so the more honest a number, your proposal will more precisely match their needs. This goes for job interviews too. At the end of an excellent interview, if the salary was not openly discussed, you may wish to ask, “What is the salary range?”
Always provide 3 options: barebones to get started, medium priced to meet everything you heard in the meeting, and higher priced to address some or most of their wish list.
The reason for 3 options is two-fold. People think in 3’s and more importantly:
When you offer 1 choice, you only have a 50% chance of getting the sale. Offering 2 choices, you have a 66% of closing the sale (No is still an option). Offering 3 choices, you now have a 75% chance of getting the sale and the start of a beautiful relationship with your new client.
It was this last point about choice where almost everyone made their fatal error. You cap the proposal by saying, “I don’t care which you choose, the important factor is that we get started and you allow me the opportunity to prove I deliver what I promise. My goal is to develop a long term relationship with you.” Of course you want to put this in your own vocabulary.
When your mindset is focused on the other party’s point of view, your communication and business development are on target and you then proceed into enjoying the Smooth Sale!
