Sales training ideas – What to do when you lose a sale.

In today’s sales training idea we’ll talk about what to do when you find out you just lost a sale. Why? Well, because someone just called me and said, “I lost a big sale I was sure I was going to get. What should I do?”

Okay, here’s what to do:

1) Find out if it’s a done deal. Did the prospect already sign a contract?

2) Do you still have a shot? Quick question to ask: “Ms. Prospect, is there anything I can do to still get the business?” If she says “yes”, find out what.

3) Find out WHY and get competitive information. Find out why you lost. This works best if you get in front of the person who made the decision and if you get there soon after the news. In other words, you don’t want to get the information from the secretary. She won’t have all the details as to why you lost and she won’t have the emotional reasons to open up to you. The decision maker may feel bad and thus, will be that much more open to telling you specifically why you lost and to give you actual, documented competitive information such as proposals.

4) If it is a done deal, thank the prospect for the opportunity and ask that the door be open in the future.

5) Send a “Thank You” Note.

6) Stay in touch and continue to keep your name in front of the prospect.

7) Get back to work. Use this as motivation to work harder and get more sales.

The bottom line: When you find out you lost the sale, find out if there is still something you can do to save it. If you can, do it! Learn what you can from the situation and finally, get fired up and go get other business.