Have you ever lost a deal that was about to be closed?
If so, are you still wondering why? Although there are several sales failure causes, these are the 3 top reasons that could be affecting your deals:
1. Did you follow up?
According to a recent survey conducted by Harvard Business Review, 17% of salespeople fail to follow up. This mistake is the third most significant reason that makes sellers lose the deal. Another study shows how 40% of all leads go unresponded, which in sales, is a sin. Are your marketing and sales teams putting in the effort to generate prospects for you? Then the least you can do is have a system that you will follow up.
2. Did you listen?
Active and perceptive listening is a must in sales. Did you know that 18% of salespeople lose their sales deals because they fail to listen to the prospects’ needs?
A good rule of thumb, whether it’s face-to-face or on the phone, is to speak only 20% of the time and listen 80%. The reason why this rule is so important is that your primary objective should be to uncover your customers' business challenges and priorities. Otherwise, how could you offer a solution that alleviates their problems? So, pay close attention and work on identifying what your prospects’ needs are. You will need that information to be successful!
3. Did you follow your client’s buying process?
A staggering 26% of the times sales are not closed is because the salespeople failed to follow the client’s buying process. What a pity, right? Especially since this is the last step of a sometimes long and hard job.
We, as salespeople, all have our own way of selling our product or service and follow specific steps. However, that doesn’t mean that our buyers are in the same stage of the process. Do not take for granted that they are ready and willing to buy. Instead, try to understand what their buying process is, and how they evaluate, analyse and make decisions.
It is crucial to find out what’s important to them, who’s involved in the decisions, who the influencers are, and who ultimately has the final say. Ask upfront, and you will be much more likely to satisfy their needs and help them make the right decision.
Although each salesperson is different and each product and industry has its challenges, these are the three common mistakes in the sales world. Now that you are able to identify them you could prevent your next deals from failing.
In conclusion, if you want to drive your sales, and consequently, your growth and profits, you must bear these golden rules in mind. Remember to adapt them to your own style while keeping your distinct personality.
If you would like to learn more, develop your sales team or unlock your sales potential get in touch and schedule an initial phone consultation with me on +353 87 2805518 or email: firstname.lastname@example.org
#Sales #BusinessDevelopment #Prospecting #FollowUp #SalesDeals
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Patrick is the CEO of SALES at Sales Dynamics.