Tell me if this sounds familiar:
“The competition has had this account for many years, but there has been some turnover at a decision-maker level. The new person is a friend of ours from another one of our accounts. He has only been there a short time, but he has provided us with insight into the operation, believes we can provide a value solution and feels he can make this decision and use this as his opportunity to become well-positioned with his new organization. There’s not much more we need to do to win this deal.”
Now, fast-forward 30 days:
"We lost the deal. I just don't get it. Everything was going in our favor."
Unfortunately, these stories and opportunity scenarios occur all too often and when reality sets in: There is only ONE reason why you lost again!
You were OUTSOLD. You missed something in the sales process.
What you may have missed:
Was your "friend" really the decision maker? Being new to the organization, did he truly understand the competitive or political landscape?
Who "Owned" the incumbents relationship? Chances are it wasn't your new person, so maybe all the work you put in and all the resources dedicated were directed to the wrong person.
Were you able to fully understand the client's operational challenges and know, really know, how this negatively impacted their business, to the degree that they needed to make a change?
At Butler Street, we categorize these all under one reality check:
What creates defect in the buying/decision process is not what you know, it is what you don't know
What could you do differently?
Some suggestions and important questions to answer:
Do your homework. What key facts indicate that you have a qualified opportunity?
Has the prospect demonstrated a vested interest in working with you to solve a problem?
Have you met the decision-maker and engaged in dialogue and validated solution alignment? How will the decision really be made?
Do they really have to make a decision? Have you uncovered and again validated that the problem is important and that not making this change will negatively impact their business?
Does the prospect want you to WIN? Any blockers? What’s your plan to mitigate those blockers?
Does your prospect agree, have they stated, that your solution is the best for their company?
The lesson here is a simple one: No shortcuts! Selling and winning is a process. A structured, repeatable methodology that if adopted will increase win percentages and help prevent losing again. A methodology that defines a path, forces the correct dialogue and provides a true representation of what is required to WIN!
Don’t be OUTSOLD by missing something in the sales process. Let us know if you’d like to introduce the Butler Street Deal Review process to your team.
Like this blog? Another blog you might be interested in I was Outsold