Stop losing sales

Ever spoken to a prospect who you just knew would become a client? But then, at the very last moment, they didn’t.

It happened to me a while ago. And of course, I hated it.

Sure, there might have been all kinds of reasons why they decided not to hire me. Reasons I couldn’t have foreseen. Let alone control.

However, I do believe there’s always room for improvement. So, for my next sales meeting, I’ll use a 65-year old piece of paper.

Allegedly, in 1959, Ben Smith created a Sales Research Survey titled Why Did I Lose That Sale? The list contains 29 Yes or No questions in 6 categories.

1. Preparation – Was I really prepared?
   
   A good preparation covers the basics. Like a plan for your meeting, knowing the prospects’ name, their position in the organization, and whether they bought from you before.
   
   It also involves understanding if your offer is clear to the prospect, and if they really need it. Plus the anticipation of objections and whether you are ready to address these.
   
2. Liking – Did they like me enough?
   
   This covers appearance. Looking the part always helps. In general, it’s better to be overdressed than underdressed.
   
   What’s maybe even more important, is to be liked in the conversation. This means: no signs of ‘pressure’, no arguments, and no interruptions – ever.
   
   Additionally, show a genuine interest in your prospect and their business. Instead of selling, help them to buy.
   
3. Interest – Were they interested?
   
   Address your prospect’s challenges. Position your service as a solution, by sticking to what your service could do for them.
   
   Dramatize, so your prospect can ‘see’ what they’re hearing – the essence of storytelling. 
   
   Repeat those Unique Selling Points (USPs) of your service that your prospect seems most interested in.
   
4. Understanding – Did they understand?
   
   Make sure your story is concise and told in a logical order.
   
   Tell your prospect enough of your sales story, so they understand the imminent challenge in front of them and see your service as the best solution.
   
   Boil it all down to a few, simple to understand selling points for your service.
   
5. Believe – Did they believe?
   
   Inspire confidence, by being sincere and enthusiastic.
   
   Stick to the facts. Back up claims with examples, figures, and visible proof.
   
   Answer any questions and objections.
   
6. Strategy – Was my strategy strong enough?
   
   Make your prospect realize their needs, before attempting to sell them anything.
   
   Ask questions. And give them an opportunity to express their views.
   
   Find out which selling point your prospect is most interested in and concentrate on that. Test agreement on one point, before going to the next.
   
   Explicitly ask for the deal at the end of your meeting.

Not sure if Ben Smith actually existed. And if he really created this list. However, I do think the questions are valid. Definitely something to take into account before your next client meeting.

Hope this helps!

Thank you for reading Nudge #025, sent to busy subject matter experts on June 11, 2024.