Principal at Zomara Group. I help organizations strategize, grow and scale. As Director Bus Dev at EQUANS, I deliver results. Let’s connect!
Success in sales and business development is mainly measured by the end result of a pursuit—either getting an affirmative outcome or the other party declining your proposition.
In the world of for-profit business, where cash is considered king, the sure pathway to achieving this kingly position is an ongoing pursuit for a larger revenue/margin, which is achieved by targeting a higher sales volume. So, yes, success does get determined by a positive end result, but should that be an end all be all in this process? I don’t believe it should be.
Below are some considerations for achieving success, regardless of how your particular sales journey concluded.
‘No’ to a ‘Not Now’
When both sides have invested time and an understanding of each other’s needs, and when each party has played a role in identifying and agreeing on the right solutions and taken the time to discuss other details, it’s important to consider that a “no” may be a “not now.”
Customer organizations are often fairly complex places with a struggle for power, vision, resources, finance and so forth. Thus, there might be an opportunity to transition a “no” into a “when” even if you feel your stakeholder is not in a position to provide a more appropriate timeframe. In the meantime, this can present an opportunity to broaden the discussion and include other subject matter experts from your side to engage with non-direct decision makers from the client’s side with an educational perspective so the selling piece doesn’t feel so front and center.
Many times, in my experience, these “not now” situations are due to new key personnel or policy being onboarded or an unforeseen financial curveball that impedes their immediate ability to allocate funds to your services and solution. What is essentially required in these situations is altering your positioning strategy. And if you have the capabilities to package your solution differently, either financially or in another required way, the deal may be yours to take—because both sides have invested time, which is the critical and most important resource for any organization.
Network Marketing
The opportunity for network marketing applies in both instances—whether selling was successful or not—but more so when the result is negative. Because, by this stage, you have already sold you, hence the continued engagement. If you are not the reason why a prospect organization does not do business with you and it’s made clear that they see your value, make it imperative to ask them to take the time to broadcast you in their network. This can be a helpful way for the other party to feel the relationship offers some sort of mutual value, offering you something for your time and having had you go through the process when they weren’t able to come through.
There is never a better situational outcome than where you are positioned with credibility, certitude and a pledge of trust to a professional and qualified network of leads who might actually need your services. This was not what you set out to achieve initially, but it can still be a strong growth-focused position for you to be in.
Point-Blank Question
After all this time and effort of going through the sales process and conducting an objection-handling phase efficiently, it’s sometimes a good strategy to ask directly what is leading your customer to say no.
Remember that you are proactively trying to be a disruptor. As professionals, we all are programmed to make the settings as amenable as possible for our customers, but sometimes, it’s okay to be mildly confrontational and inquire to know the background and inside story since you are also invested in the situation.
Take the bull by the horns and ask for a direct answer. Of course, there will be times when this leads to a sense of uncomfortableness, but if you have done the earlier stages of the sales cycle accurately and have built that trust, this technique should get you a direct and non-political answer that could present a scenario where a quick tactical revision can again alter the situation positively. The feedback received might be totally different from what you were expecting. The end game here is to get to a successful outcome.
Is It You?
Maybe somewhere in the process, you took a wrong step, which jeopardized the end result. But since mind reading is not possible, getting honest feedback will help you immensely for your next inquest. Don’t become defensive and dismissive of their viewpoint, despite it being personal or critical.
Remember this fact: Every sales and business development professional has made a mistake somewhere in the course of their career, but what differentiates the top tier from the not-so-top tier is they are also comfortable in uncomfortable settings when fingers are pointed at them. Take ownership, learn from the situation and avoid repeating the same mistakes.
Goodbyes Are Temporary
When all else fails, and you are convinced that the situation truly cannot get back to the outcome you desire, make it a point to keep in touch at a certain agreed-upon timeframe. Create this expectation directly and clearly in your customer’s minds and follow through to do that. One constant that is ever present is that financials, market conditions, decision-makers and every other related aspect can change in the future, so don’t position yourself out when this happens—sometimes even before you think it will.
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