What to Do When You Don’t Get the Sale:
Losing the Big-One
by Garrison
Wynn
"After careful consideration, we have chosen our vendor, and it’s not
you.”
Hard words to hear.
That big deal, the account you have been courting for months, has
fallen to someone else.
“We appreciate all the time and effort you put into your bid. It was
quite professional.”
Yeah sure, they really appreciate your months of grueling work, but not
enough to actually write you a check. You feel like you’ve just been
elected the mayor of Loser-ville. So, what do you do now? At this crucial
point, many salespeople make one of two mistakes: they either forget about
this big, potential customer (and the time invested) forever or they make
some desperate move that further cements their fate as the Company That
Couldn’t. “Hey wait-a-second Mr. Prospect, are you really mentally
prepared to give me a final no? Hello? Hello?” (Never comment on a
prospect's mental health.)
One thing that separates a good salesperson from a great salesperson is
the ability to become a backup vendor. In essence, positioning yourself as
the secondary supplier for the account sets you up to continue to build a
relationship with the client, to someday win that business. Most companies
want to have depth in their supply chain. Everybody likes to have options.
Few clients will deny your last request. “Sure, whatever.”
Maybe they don’t sound sincere, but they’ve just given the invitation
to keep the relationship alive. Now you can go to work showing them what a
great vendor you could be. One key thing to remember is to never criticize
the company that won the business. If you talk bad about the winning
competitor, you are criticizing the customer’s recent decision. Calling
your potential customer stupid is not an effective sales tactic.
Next, find out exactly why you lost the deal. People typically don’t
have much trouble telling you where you went wrong. If they balk, tell
them that to be an effective backup vendor, you want to know more about
their specific needs. Before long, you find out what you did wrong – and
what you need to do right – to eventually get the business. Every bit of
detail you discover will help you win the account one day. Look for the
role you played in the failed deal.
You can also ask for referrals. You will be amazed how easy it is to
get leads from a company that just told you they have chosen another
vendor. Then sell to the other companies and get testimonial letters from
them. Send copies and a thank you note to the company who gave the
referral.
Continue to build the relationship just like you would if you were the
primary vendor. Put regular ticklers for the client in your contact
database (if you don’t have contact software, pick up your rotary phone
next to the lava lamp and order some now) and touch base with them. Keep
reminding them that you’ll be ready when they need backup.
Develop an email relationship and let them know occasionally (not every
two days) how you are helping your other happy customers.
Keep building the relationship. Stock the products they use, and send
updated product information. Offer solutions to any problems they may tell
you about. Refer them to other companies who provide products or services
you don’t. These kinds of activities will ensure that you stay on their
vendor list, and you will build a reputation as a problem solver.
Be nice to everyone in the company. Someone who is not making the final
decision now, could be in the future. As a matter of fact, I have seen
situations where the low man on the ladder ended up as a decision-maker. I
was able to get the business because I treated him with importance when he
was Mr. Nobody. In another case, I discovered that the purchasing agent
had been replaced, and that the new one couldn’t stand the current vendor.
I have also built strong relationships with want-to-be decision-makers who
move to other companies to become real buyers (guess who got the
business).
Invite the client to company events and parties. Treat them just like a
customer, and sooner or later, they will be.
All the while, continue to document what did not work the first time
with this client, and make sure you cover your bases for the future. If
your product and service is superior to the competition, hang in there.
Your potential customer will be replacing parts or suffering inferior
service while you start to emerge as the low risk provider.
Treat the lost customer well enough, and they’ll start to imagine how
good you’d treat them if you really had their business. The company that
keeps up the communication longest will eventually get the business.
Practice poised consistent persistence. We had a Skybox at the Astrodome.
On one occasion, I had some folks there from a company we had never sold
anything to. They hung out and watched the game with all our happy
customers. At the end of the day the CEO walked up to me with a plate of
barbecue in his hand and said, “How come we are not buying from you?” I
said, “I have no idea!” I signed them the next day. Never give up. A
company once told me I would “never, ever” get their business. Never,
turned out to be exactly 18 months.
© Wynn Solutions 2003
Garrison Wynn is a nationally known speaker, trainer, and
consultant. He is the president and founder of Wynn Solutions, specializing in
turning talent into performance.
www.wynnsolutions.com
Garrison@wynnsolutions.com
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