are many reasons why a client doesnt' buy
from you: e,g right from a poor company
record to product performance or even sales
persons' inability to create the 'right
image' or any combination of these.
if price was the main reason for losing
a sale, it would be a lot easier to get
the order, simply reduce the price. However,
experience suggests, there are solutions
customers will pay a premium for. Customers
decide to buy from you, if they believe
you promise to offer something that has
value to them and cannot be obtained elsewhere
at a cheaper price.
you know real reason why you lost the order?
The only way you will know the real reason
is to ask (at a right time ;-). Understanding
why you lost (or even gain !) presents a
great opportunity to improve your future
sales approach & developing your next
offer. Unfortunately there are very few
sales people I've come across, go back &
search real reason for loosing (or bagging)
common reasons for not giving you the order.
Here are typical common responses you've
probably heard & what they really mean.
"Our budget was rationalised
at the last minute."
You may not have addressed concerns of the
decision maker to insulate your sale from
this outcome. The decision maker is mostly
at a higher level than you were dealing
with. This decision maker if convinced would
have been able to revise the budget to accomodate
our 'solution' which is critical for there
didn't need all the options & features
you offered. We found out it was high priced
for our needs."
Understanding real needs & paint areas
helps you prepare the offer ideally suitable
for the customer needs. Identifying options/features
which have no value helps you to eliminate
to be outpriced or valued as a high price
offer doesn't address all our objectives."
In this situation, you may have offered
the lowest price, but since you didnt' offer
a solution which the client is trying to
accomplish, you were not selected as the
your Enquiry to Order ratio.
The insight you can gain from understandin
the 'real' reason why the client did not
choose your offer, can actually improve
your credibility, indicating genuine interest
in why your solution was not the best. It
will also help you understand the decision
escape of confessing, "Order was lost
because of price", will severely affect
your future chance of developing relations
with the customer. It will also cause a
serious credibility issues within your own