3 Reasons We Lose Sales

Has this ever happened to you ? You have an initial, promising meeting with a potential client. They called to speak with you or you were recommended to them – so things got off to a good start. You start by asking them about their business. You talk about some of the problems they face and identify that there are things you can help them with. You discuss what you can do and they seem pleased. They ask you to drop them a proposal and you leave the meeting feeling rather pleased. It feels like this one is in the bag.

                                Then nothing happens.

Despite sending a very compelling value proposal, they don't call you back. Eventually you get through to them and they explain that priorities have changed. Budgets are tight and although still interested in working with you, it won't be for a while – they will revert to you when things become better.

You wonder if they have chosen to go with a competitor. Someone you know, who will never be able to do a job as good as you can. Sounds familiar ?

If it does, be happy that you are not alone. This kind of scenario is played out time and time again for Sales people, Consultants, Coaches and other professionals worldwide. It has happened to me again and again, until I learned the 3 key lessons. About why you lose sales. It still happens, but much less.

Reason 1 : Not Bringing Any New Insights.
Today, many clients come to the table with a clear picture in their mind, of what they need and what kind of solution they want. They may not appear to be an expert like you – but believe me, they have done their research on the web and come to you with some pretty clear needs.

So most of us tell them about how we can meet their needs and how we can deliver the solution they're looking for. Trouble is, if all we are doing is telling the client that you can meet the needs, they've explained to us and can provide the solution they already think they want – we have just become a Commodity. Every service provider can tell clients they will deliver on the solution to their needs. That, unfortunately means, that the client has to base his decision on Price. A bad thing to happen for us.

Of course, we tell about your great team and service levels. We show the brilliant testimonials and feedback. But everyone can say that. We list our USPs and Differentiators. But the client's not interested in that. They just want to know whether we can meet their needs. So how can we escape being trapped in such a corner ?

We must bring new insights to the table. We must get them to change their minds about their needs or the solutions they want. We need to dig deeper than just asking the client what their needs are. We need to identify and highlight problems or opportunities they didn't know they had. We have to suggest different, better solutions than the ones they came up with.

If we can do this, then and then only we are actually adding value. We are then,  differentiating our self from our competitors in a real and meaningful way. We are proposing different solutions to issues the client didn't initially specify. So our solution looks very different (and better) to our competitors.

Now doing this is not easy. We have to really know our stuff. We have to be able to challenge the client without insulting them. We must be able to think on the spot. If we don't, then we are just competing on Price.

In my next blog, I shall cover Reason #2 and Reason #3. See you soon.