Jeffrey Gitomer November 4, 2013
November 6, 2013
By Jeffrey Gitomer
November 4, 2013
74% of salespeople complain about losing a sale because their price was too high. And 74% of them are wrong.
How did you lose the sale?
Why did you lose the sale?
Was it really price? Or was it you?
Losing the sale manifests itself in “blaming complaints” about: price,unreturned phone calls, bidding, loyalty to others, and otherblame-based excuses about why a sale does not take place, and therelationship isn’t being built. Ouch.
Here are the major reasons why salespeople lose sales:
1. The customer was loyal to someone else. Your first job is to uncover what makes the customer loyal. What’s thereal reason they continue to do business with someone else? Ask yourself if you and your company possess the same qualities.
2. Lack of real connection to or with the buyer. The prospective customer is looking for comfort, peace of mind, and assurance
3. Lack of engagement. You weren’t able to create real interactive dialog.
4. Lack of perceived value. If the customer does not perceive genuine, definable value in your offer, then there is none.
5. Lack of perceived difference. If the customer does not perceive genuine, definable difference between you and your competition, then there is none.
6. Lack of relationship. When long-term relationship is present, truth, trust, and value are the basis of purchase.
7. Lack of hustle. Response time to a customer’s need for service and/or information are critical factors in purchase.
8. Poor salesmanship. This has fundamental flaws of preparedness and presentation skills. There’san obvious lack of questioning skills or sales strategies that create abuying atmosphere.
9. Poor attitude. The way you presentyourself and your word choice combined with your tone and demeanor leave a HUGE impression on the customer. And that impression is eitherpositive, neutral, or negative – and YOU CHOOSE how you made them feel.
10 Lack of ability to reduce or eliminate risk. This may be the prime factor in losing sales. And the least talkedabout. The simple answer is: PROOF. Can you substantiate your claims?
10.5 Failing to do your BEST. Without a doubt, this is the BIGGEST flaw in salespeople. Whether it’sattitude, belief, self-confidence, preparation, or follow up, yourexecution at a level less than BEST leaves a huge opening for yourcompetition to win.
REALITY: None of these reasons are ever stated by salespeople. Instead, they (you) blame the loss of a sale on price.
“They took the lowest price,” is the most often stated “reason” for the lossof a sale. And it is totally bogus. It’s easy to blame “price” for theloss. It’s harder to face and discover the real “why.”
Thereality (and life-long value) of why you lost a sale is forever silenced when you blame the loss on price, and move on to the next sale.
REALITY: “The customer took the lowest price,” is as bogus as “My dog ate myhomework.” The fact is you let the customer control the selling/buyingprocess. Not good.
STRATEGY: Get the customer to change the criteria of proposal submission in a way that is both in favor of the customer and you.
GIVE THEM IDEAS TO GET THE ORDER: Make the customer aware of the cost ofbuying inferior products as it relates to work stoppage and lack ofproductivity. Make them aware of the value of their image andreputation.
PROVE IT TO WIN IT: Make everyone competing provide aVIDEO testimonial for each item they’re selling and every claim theymake about it. Document and prove elements like service response time,how friendly you and your team are, and how easy you are to do businesswith.
THE REALITY OF BLAME: The opposite of blame isresponsibility. In sales responsibility is taken, not given. Beresponsible TO yourself and FOR yourself. Don’t blame the customer, HELP the customer. Do not let the REAL reasons you lost the sale get tangled up in blame.
ASK YOURSELF: Why did you really lose that sale? What could you have done to make it?
PATH OF LEAST RESISTENCE: Lowest price is the EASIEST excuse for asalesperson to make. Customers take lowest price because they perceiveyour product or service is the SAME as your competition. Not good.
If you are sick of losing sales like that, then you better discover WHYthey took the lowest price, and create greater value differentiation.And while this is easier said than done, it is BY FAR, the biggest sales and profit opportunity you possess.
“Jeffrey,” you whine, “Butwhat about “bidding?” You know the people that take three bids thenchoose the lowest price? I’ve got some surprise answers about biddersnext week!
Jeffrey Gitomer is the author of twelvebest-selling books including The Sales Bible and The Little Red Book ofSelling. His new book, 21.5 Unbreakable Laws of Selling, is nowavailable. For book tour dates and information about training andseminars, visit www.gitomer.com or email Jeffrey personally [email protected]
© 2013 All Rights Reserved. Don’t eventhink about reproducing this document without written permission fromJeffrey H. Gitomer and Buy Gitomer. 704/333-1112
November 4, 2013
74% of salespeople complain about losing a sale because their price was too high. And 74% of them are wrong.
How did you lose the sale?
Why did you lose the sale?
Was it really price? Or was it you?
Losing the sale manifests itself in “blaming complaints” about: price,unreturned phone calls, bidding, loyalty to others, and otherblame-based excuses about why a sale does not take place, and therelationship isn’t being built. Ouch.
Here are the major reasons why salespeople lose sales:
1. The customer was loyal to someone else. Your first job is to uncover what makes the customer loyal. What’s thereal reason they continue to do business with someone else? Ask yourself if you and your company possess the same qualities.
2. Lack of real connection to or with the buyer. The prospective customer is looking for comfort, peace of mind, and assurance
3. Lack of engagement. You weren’t able to create real interactive dialog.
4. Lack of perceived value. If the customer does not perceive genuine, definable value in your offer, then there is none.
5. Lack of perceived difference. If the customer does not perceive genuine, definable difference between you and your competition, then there is none.
6. Lack of relationship. When long-term relationship is present, truth, trust, and value are the basis of purchase.
7. Lack of hustle. Response time to a customer’s need for service and/or information are critical factors in purchase.
8. Poor salesmanship. This has fundamental flaws of preparedness and presentation skills. There’san obvious lack of questioning skills or sales strategies that create abuying atmosphere.
9. Poor attitude. The way you presentyourself and your word choice combined with your tone and demeanor leave a HUGE impression on the customer. And that impression is eitherpositive, neutral, or negative – and YOU CHOOSE how you made them feel.
10 Lack of ability to reduce or eliminate risk. This may be the prime factor in losing sales. And the least talkedabout. The simple answer is: PROOF. Can you substantiate your claims?
10.5 Failing to do your BEST. Without a doubt, this is the BIGGEST flaw in salespeople. Whether it’sattitude, belief, self-confidence, preparation, or follow up, yourexecution at a level less than BEST leaves a huge opening for yourcompetition to win.
REALITY: None of these reasons are ever stated by salespeople. Instead, they (you) blame the loss of a sale on price.
“They took the lowest price,” is the most often stated “reason” for the lossof a sale. And it is totally bogus. It’s easy to blame “price” for theloss. It’s harder to face and discover the real “why.”
Thereality (and life-long value) of why you lost a sale is forever silenced when you blame the loss on price, and move on to the next sale.
REALITY: “The customer took the lowest price,” is as bogus as “My dog ate myhomework.” The fact is you let the customer control the selling/buyingprocess. Not good.
STRATEGY: Get the customer to change the criteria of proposal submission in a way that is both in favor of the customer and you.
GIVE THEM IDEAS TO GET THE ORDER: Make the customer aware of the cost ofbuying inferior products as it relates to work stoppage and lack ofproductivity. Make them aware of the value of their image andreputation.
PROVE IT TO WIN IT: Make everyone competing provide aVIDEO testimonial for each item they’re selling and every claim theymake about it. Document and prove elements like service response time,how friendly you and your team are, and how easy you are to do businesswith.
THE REALITY OF BLAME: The opposite of blame isresponsibility. In sales responsibility is taken, not given. Beresponsible TO yourself and FOR yourself. Don’t blame the customer, HELP the customer. Do not let the REAL reasons you lost the sale get tangled up in blame.
ASK YOURSELF: Why did you really lose that sale? What could you have done to make it?
PATH OF LEAST RESISTENCE: Lowest price is the EASIEST excuse for asalesperson to make. Customers take lowest price because they perceiveyour product or service is the SAME as your competition. Not good.
If you are sick of losing sales like that, then you better discover WHYthey took the lowest price, and create greater value differentiation.And while this is easier said than done, it is BY FAR, the biggest sales and profit opportunity you possess.
“Jeffrey,” you whine, “Butwhat about “bidding?” You know the people that take three bids thenchoose the lowest price? I’ve got some surprise answers about biddersnext week!
Jeffrey Gitomer is the author of twelvebest-selling books including The Sales Bible and The Little Red Book ofSelling. His new book, 21.5 Unbreakable Laws of Selling, is nowavailable. For book tour dates and information about training andseminars, visit www.gitomer.com or email Jeffrey personally [email protected]
© 2013 All Rights Reserved. Don’t eventhink about reproducing this document without written permission fromJeffrey H. Gitomer and Buy Gitomer. 704/333-1112
