Gino Wickman’s Entrepreneur Operating System (EOS) claims, "For a business to be successful, it must perform…
If you want to improve your teams’ selling percentage, don’t let them overlook the reason for losing a deal in which they have the most control. Find out if they’ve been outsold.
Ask yourself the question, “Why did we lose this deal?” What reasons does your sales team give? Following are some typical answers: Price, product, customer changed their parameters or their needs. Finally, they might mention the competition, timelines, customer service, or the company’s credit terms. All these things are outside of the salespersons control. The salesperson can make recommendations to these for the future. But have they overlooked another reason for losing a deal?
But What About the Salesperson?
What is the overlooked reason for losing a deal? The number one overlooked reason for losing a deal is probably the most important one. Ask this question about every lost deal. “Was I outsold? As a salesperson, was I outsold?” And as sales leaders, if we aren’t asking, “How were you outsold?” then we’re missing the opportunity to get better. This isn’t about beating up your team. It’s about getting better.
What Areas Can We Control
I asked one of my teams, “What are the areas that we control where we might be getting outsold?” They came up with the following list. They said, “Follow-up, timeliness, product knowledge, written communication, availability, attitude, accuracy and how well they converse with the customer.” And I would add in a couple more. Firstly, managing expectations and secondly, a very big one that affects all of these, is qualifying well.
So let’s focus on qualifying well. If people need more in their pipeline, they might weaken their qualification. For instance, you need to have good criteria for what makes a qualified lead. This is important. In other words, if they’re putting just anything in the pipeline that they hope will qualify later, it could end up being like the competition had a better fit.
Go through the following check list to see if your team can get stronger and be outsold less.
- Product knowledge
- Written communication
- How you converse with customers
- Managing expectations
- Qualifying well.
To conclude, focus on what you can control and not on what you can’t control. If they do this, your team can improve their winning percentage and improve their sales overall.
Subscribe to my YouTube Channel