Remember that prospect that you met with last week? You know, the presentation that you did? In this Selling in Asia Podcast episode, Managing Director Tom Abbott discusses the five reasons why you’re not closing that deal!
1. Your Attitude!
When you lack confidence in yourself, your product, and your skills – your prospect will notice. Why would they choose to buy from someone who doesn’t believe in their own product? Imagine you have two equally knowledgeable, equally skilled, equally able people offering the same product or service, one has a positive attitude while the other has a negative attitude. I could almost guarantee that the one with the more positive attitude will outperform the one with the negative attitude every time. Write down your greatest sales achievement. You’ll be able to draw upon that for motivation and inspiration. Check your attitude!
Also read: 15 Top Sales Closing Techniques To Increase Close Rates
2. You Didn’t Qualify The Lead Properly
You didn’t qualify your prospect properly, and now you’ve only found out they’re only a gatekeeper, not a decision-maker, who didn’t need your product, or it isn’t even the right time for them. You’ve just wasted a lot of precious time on the wrong lead! There are so many different qualifying methodologies. You really have no excuse.
3. You Didn’t Differentiate Yourself
Why should they choose you? What is in it for them? If you don’t want to waste your time, you need to find or create a value proposition for what you are offering before you do anything else. You then need to clearly communicate the unique value your product or service brings to the table.
When you articulate the specific benefits that your solution provides, you’re helping potential clients understand the tangible outcomes they can expect. For instance, if your service saves time, quantify it. Does it improve efficiency? Show them how with real-world results and stories.
4. You Can’t Close
You simply can’t close, perhaps your consultative skills are lacking, and you can’t handle objections. What do you do when the prospect says “no”? Well, a confused mind always says “no” so perhaps you haven’t clarified the information to help them say “yes”. Common objections include:
- It’s too expensive
- It takes too long
- I’m too busy
- it costs too much
- It won’t work for me,
You must clarify their objection, ask if it’s a deal-breaker, respond using proof devices, and only then ask for the sale again. At the same time, learn to recognize hopeless selling situations and avoid saying anything that will jeopardize the relationship in the future.
You can also list the common objections people have given you in the past and create a short rationale for why each objection is not valid. Practice saying them out loud so you’ll feel confident when prospects raise objections.
Also read: Trial Closes – When and How to Use Them to Close More Deals
5. You Didn’t Have A Relationship
A salesperson can compete based on product, price, and service but still lose a sale because of the relationship between the customer and the competitor’s salesperson. Partnering is the highest-quality selling relationship. With increased competition and greater product complexity, we need to adopt a relationship strategy emphasizing the ‘lifetime’ customer.
Don’t Get the Skills to Stand Out; Get Your Team The Skills to Dominate
Let’s be honest – many others are doing the same thing as you, all competing for the same customers. It can be tough to stand out from the crowd. So why not take advantage of our Differentiation Dominance e-learning course or live training program?
In this training, we’ll help you define a differentiator that matters to your target buyers. Ultimately, if your differentiator isn’t important to prospects, you’ll be stuck competing solely on price.
Start learning to position yourself, your company, and your offering as the ideal customer solution. Build a true competitive advantage that goes beyond just pricing.
