Why B2B sales deals are refused
Winning and losing are part of any sales process. Every deal and opportunity enriches a sales professional's journey with insights and experience. Learning is a lifelong journey and we learn more from losing deals than winning. It’s important to reflect upon key reasons for refusal leveraging 2nd loop learning, even if we made a reasonable offer and catered for various factors in play. Frustration kicks in easily when negotiations in good faith backed up by a genuine offer fail, hence it requires a new approach to tackle and win. The key to winning is getting a handle on why stakeholders refuse a good or generous proposal.
Following are the key reasons why deals are refused:
No Closure was Proposed or Reached - The back and forth nature of negotiations often lead to numerous proposals to sweeten the deal. It is important to put a line in the sand and tell them what is the final proposal to close it, without drawing a closure line, you run on a risky slope and in the process setting up wrong expectations.
Failure in providing a Good Purchase Experience No alt text provided for this image
Didn’t give a Face Saver – it is important to give a face sever to the client because we don’t know who in their hierarchy has said what to their stakeholders for clinching a deal.
Didn’t Respect their Restrictions – Need to respect clients' constraints and restrictions and show more flexibility in navigating around their environment.
Couldn’t Justify or Articulate the Value - Sharing and telling a story around the value is important, even if the proposal is sound and covers all aspects.
What do you think, would like to learn from your experience and journey. Please do share your thoughts. #Sales #Advisory #Deal making #Negotiation
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