Imagine this: You've found the right customer for your product/service. With clear examples of how your organization is qualified to meet the needs of the client, you created a stellar presentation. You've been practicing your pitch and nailed the presentation. But, the client said “no” after all that.
What would you do?
While rejection is normal in the sales process, every salesperson should learn some ways to handle it. Here are five ways to stay positive and moving forward despite a rejection:
1. Ask for feedback.
It is difficult to do, but it's not going to hurt. Ask why they made the decision to go with another company or walk away from the deal. You might be shocked by what you hear when you ask for constructive criticism, but you might get some insight into how they made the decision.
Reflect on the scenarios of criticism and practice that make use of the suggestions. To make potential improvements, refer to their replies. Perhaps you will remember that this prospect was not to begin with an outstanding prospect. Each rejection will help you better establish who your ideal customer is and the best way to close the deal from there. Embracing constructive criticism with an open mind requires practice. Always listen carefully and quietly and take notes. Thank them politely for the chance.
2. Follow up and keep in touch professionally.
Follow-ups are part of the game. Only 2% of deals are closed within the first meeting. On average, it takes at least five contact attempts to get a "yes" from a prospect. However, it doesn't mean you should bombard your point of contact. Instead, check in regularly so you're on their mind.
Remember, it's okay to start with a smaller deal because you can add services and items as you gain trust. Those 98% who said "no" on the first meeting value trust nearly as much as they value the service you provide. Build that relationship and you will be on their mind as soon as they have a need for what you offer.
After all, the key is to show your contact you value them as a professional connection and thought leader in their industry. When a buyer feels a connection, they are 60% more likely to pay for your services. These efforts help enhance your company's services and skills, and your potential client will get to know your business better from afar.
3. Ask for referrals.
Maybe you're not exactly their cup of tea, but maybe your service can be used by their college roommate who owns a company. Tell them that you believe in your product or service and that you would appreciate the chance to speak to someone they consider to be a potential prospect. Direct communication can be overwhelming, but it can help you accomplish or get close to your objectives.
If you are uncomfortable with making this request, offer an incentive for referrals as it will make the gesture appealing, and your prospective customer will be more likely to remember to refer you.
Through providing personal referral links on your website, tangible referral cards, or networking via Facebook Groups or Meetup, you can also facilitate referrals passively.
4. Consider passing the client to another salesperson.
You're in sales, so you're competitive, but for this customer, you may not be the right personality match. There will be some time where your supervisor or boss wants someone else to close the deal for you. If that really happens. Accept it and pass to your colleague. Doing so, the prospective customer can view you as a valuable resource, and you place yourself as someone who is easy to work with and does not take things too personally by offering up connections.
Besides, the entire team benefits from new clients. No matter who secured it, a broad base of business extends the company's recognition, and that will create more leads for all.
If you face rejection, don’t take it personally. Everything is normal. Talk to a trusted mentor and remember it's fine. Have coffee with a mentor or friend and ask them to give you some honest feedback. You should already be doing this regularly, so this is the perfect opportunity to seek advice about your approach.
We understand that it's really tough to hold your head up when you have quotas to meet and need commissions to pay bills. You did your best and they made a business decision that likely has nothing to do with you personally. Use this as an opportunity to reflect, make necessary changes, and grow.