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Home  | How we help clients |  Executive Education  | Learning Centre 
September 22 2019.
I lost the sale now what..??

What to do when they don’t buy.

Expect to Lose Some of the Time.
        Accept, you cannot not turn every appointment into a sale. If you are selling your product, there will be many "no's". There is one positive thing you can bring out of this experience. Even though you lost the business, you can learn something from the experience. The best thing you can do is to find out why they chose to go with another company. Ask what influenced their decision to go with your competitor. Listen to their answer and thank them for the opportunity they have given you. Be kind and don't burn your bridges. You never know if they might call you again or refer you to a colleague.

Determining why you were not chosen can also help you compete more effectively. If you frequently hear the same reason(s) for losing business, you may want to think about adjusting your product or service accordingly.

Remember, It's a Numbers Game.
      You won't get every customer nor should you expect to. If you have only 3 competitors, the law of averages tells you that you will get the order a third of the time, all other things being equal. If you do any better than that, you're ahead of the game. In the beginning, to keep your sanity, expect to hear 8 "no's" for every "yes". As you gain more experience, your success rate will definitely improve.
 
Don't be Afraid to Fire an Existing Customer.
       Everyone has a customer who causes him or her no end of aggravation. We all have them. They want a price that barely meets your production costs and is far below the current market. Or they want free products. Or they are constantly calling you to complain. Sometimes you can identify these people ahead of time, befsore they become your customers. During your visits, if you find that your customer is continually demanding more from you, don't be afraid to walk away. If they are this demanding before they give you their business, imagine what they'll do after you get the order.

Remember, You're Only Human.
       If, during a visit with your customer, you're tripping over your words, or can't remember a product spec, admit it with a smile. You will be seen as a "real" person and not just someone rattling off a canned speech. Keep your sense of humor and don't get caught up in being perfect. You'll find that this nervousness disappears after awhile, once you have more experience. The person sitting across the desk from you has been in your shoes at one time or another and will usually be very empathetic. Remember it's your attitude that counts. Smile, be energetic and don't apologize.

 

 

 


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