The Top 3 Reasons You Lose Sales: #1
Has this ever happened to you?
You have an initial meeting with a potential client. They asked to speak with you, or you were recommended to them – so you get off to a good start.
You ask them about their business. You talk about some of the problems they face and identify that there are things you can help them with.
You discuss what you can do and they seem pleased. They ask you to do them a proposal and you leave the meeting feeling rather pleased. It feels like this one is “in the bag”.
Then nothing happens.
Despite writing a very compelling proposal, they don’t call you back. Eventually you get through to them and they explain that priorities have changed.
Budgets are tight and although they’re still interested in working with you, it won’t be for a while – they’ll get back to you when things change.
Or perhaps they’ve chosen to go with a competitor. One you know won’t do as good a job as you.
If it does, you’re not alone. This scenario is played out time and time again for consultants, coaches and other professionals worldwide.
It happened to me again and again, until I learned three key lessons about why you lose sales. Not that it never happens now. But it happens an awful lot less.
The Top 3 Reasons You Lose Sales
Reason 1: Not Bringing Any New Insights.
These days many clients come to the table already having a clear picture in their minds of what they need and what kind of solution they want.
They may not be an expert like you – but they do their research on the web and come to you with some pretty clear needs laid out.
So you tell them about how you can meet their needs, and how you can deliver the solution they’re looking for.
The trouble is, if all you’re doing is telling the client that you can meet the needs they’ve explained to you and can provide the solution they already think they want – then you’re a commodity.
Every service provider can tell the clients they’ll meet their needs and provide the solution they’re looking for. That means all the client has to go on to differentiate between you is price.
Of course, you’ll tell them about your great service and people. Your brilliant testimonials and feedback. But everyone can say that.
You can list your USPs and differentiatiors. But the client’s not interested in that. They just want to know whether you can meet their needs.
So how can you escape being painted into this corner?
You’ve got to bring new insights to the table. You’ve got to get them to change their minds about their needs or the solutions they want.
You’ve got to dig deeper than just asking the client what their needs are.
You’ve got to identify and highlight problems or opportunities they didn’t know they had.
You’ve got to suggest different, better solutions than the ones they came up with.
If you can do this, then you’re actually adding value. And you’re differentiating yourself from your competitors in a real and meaningful way.
You’re proposing different solutions to issues the client didn’t initially specify. So your solution looks very different (and better) to your competitors.
Now doing this is not easy. You have to really know your stuff. You have to be able to challenge the client without insulting them. You have to be able to think on the spot.
But you must do it. Otherwise you’re just competing on price.