What to Do When You Lose a Sale
Losing a sale can be frustrating, but it’s also a learning opportunity. Instead of dwelling on the disappointment, take proactive steps to improve your future chances. Here’s what you should do when you lose a sale:
1. Analyse What Went Wrong
Start by reviewing the sales process. Did the customer have concerns you didn’t address? Was the competition offering a better deal? Understanding why you lost the sale will help you refine your approach.
2. Ask for Feedback
Don’t be afraid to reach out to the prospect and ask why they chose not to move forward. Be polite and professional, and frame it as a way to improve your service. Many customers will appreciate the effort and provide valuable insights.
3. Was it the price?
Prospects don’t necessarily tell you that ‘it’s too much’ during your sales pitch. In future you need to give them the opportunity to tell you – if it is. A Question like ‘What price do we need to come in at or below, to win the business?’ It doesn’t mean that you have to say yes to their answer, but it gives you valuable information so you don’t waste time.
4. Stay Professional and Positive
Even if you’re disappointed, maintain professionalism. Thank the prospect for their time and express your willingness to help in the future. Leaving a positive impression could lead to future opportunities.
5. Follow Up Later
A lost sale today doesn’t mean it’s lost forever. Check in with the prospect after some time to see if their needs have changed. A simple email or call can reopen the conversation.
6. Move On and Keep Selling
Rejection is part of sales, keep improving, and focus on your next opportunity. By treating lost sales as learning experiences, you’ll become a more resilient and successful salesperson in the long run.
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