How do you handle sales defeat? If you are like the 60% of sales reps I meet, you hide, whine, complain, and blame others. You stop making calls, go out for a drink to drown your sorrows and go home early. This is why 60% of sellers are mediocre.
The top 10% are like the Heat. They accept responsibility, regroup, refocus, and come back charging. They hit the court / office, make note of what didn’t work and what did, and leverage their strengths. Sure, take a breather after a big loss. Step away from your desk, go for a walk, or take an afternoon at the park. But, while you are away accept that YOU lost the deal and only YOU can stage a comeback. A comeback with your sales will start only when you take responsibility and then take action. <– Click To Tweet
Colleen’s steps to staging a sales comeback:
- Recognize your role in what went wrong. Was the client not an ideal target? Did you present too early? Did you underestimate the competition? Did you not understand their needs? Did you not identify the decision makers correctly?
- Make a commitment to change your sales approach on all open opportunities. Are you about to make the same mistake again?
- Conduct an honest assessment of your pipeline. If you notice that you are at risk of making the same mistake on any open deals, work now to rectify the situation. Call your buyers to receive missing information, re-qualify open deals, ask to present again if you did a lousy job the first time.
- Start filling the pipeline. Dedicate 2-3 hours immediately to new client attraction activities. Ask for referrals, make cold calls, attend a networking event.
I know that you feel the least motivated after a loss but you must take action now. Action creates motivation. Once you get the ball rolling, start speaking to new buyers and buyers in current opportunities. By doing so, you will be on your way to your comeback and winning the next deal.