Losses Can Highlight Ways to Win

Understanding why you lost each sale is one New Year's resolution to make – and keep – for many happy returns.

While loss reviews aren't nearly as enjoyable as celebrating a win, successful salespeople know the information they find could help them win future opportunities. Here are a few ways to incorporate this valuable activity into your sales process:

• Reconnect with everyone who worked on the sale within a week of the buyer's final decision. You'll get a clearer picture of what led to the decision while the information is still fresh.

• Consider a review as part of your process. Scheduling a final interview fights the urge to postpone or ignore the exercise.

• Ask for a follow-up phone call soon after you hear the dreaded "no." Knowing the sale's final outcome allows you to ask straightforward questions to learn why the customer didn't choose your solution.

• Connect with your manager to determine if it's possible to discuss recent losses at team meetings. Point out that highlighting best practices or reviewing what didn't work could help all members of your team close more business.

• Connect with your team members. Find out how others have successfully overcome similar challenges.

No one likes rehashing mistakes, but reviewing the steps that were taken, or uncovering those that weren't, will help shed light on the actions that could help you close more sales this year.

Maximize Your Loss Reviews
Identify how future sales opportunities can be pursued more strategically with Funnel ScoreCard®. Improve resource allocation and time management with this repeatable process.

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