Here's how you can handle a lost deal in medical sales.

When you lose a deal, you need to know why. This means asking the prospect who chose someone else, but here's the key. They don't want to talk to a winey sales rep who's begging them to reconsider. This means your first words with the prospect is to acknowledge they've gone with a different vendor and say thank you for considering your products/services. Then...tell them you need their help with a very important question: What would you have had to have done differently to win the proposal. You can then make one final, respectful attempt by saying, "I understand you've made your decision, and I respect that, but I have to ask. If I could meet or beat those terms now, would I still have a shot. Then respectfully honor their response.

Most people 'keep it moving' after a lost sale -- and while that's a great mental strategy, it's well worth taking a look back at the process and where things went off the rails with the lost deal. Connect with someone from the lost deal and ask if they'll give you some honest feedback about why and how the option they chose better served them. Be sure to emphasize that you're always looking to improve and provide better solutions. Thank them for this feedback. Then, instead of writing it off for good, make it part of a retargeting plan in the future. While it's not possible to win every deal, it IS possible to learn from every deal, win or lose.

Here's a step-by-step guide on how to manage this situation effectively: 1. Process Your Emotions 2. Analyze the Situation 3. Identify Learning Points 4. Adjust Your Strategy 5. Enhance Your Skills 6. Maintain Relationships 7. Set Realistic Goals 8. Seek Support 9. Stay Resilient 10. Implement a Follow-Up Plan By following these steps, you can turn the experience of a lost deal into an opportunity for growth and improvement, ultimately enhancing your effectiveness as a medical sales professional.

I believe it is a Japanese proverb fall down seven get up eight. If getting a product approved by a hospital was 100 percent guaranteed than our roles would be order taking not selling. After this stumble, see what you can do again or next time better. Look at how you structured clinical, economic or user data to help the decision makers.

1. Reach out to colleagues, mentors, or the client who declined the deal. 2. Understand that constructive criticism is essential for professional development. 3. Engage in these conversations with an open mind and a genuine desire to learn. 4. Focus on obtaining insights rather than justifying your past actions. 5. Use the feedback to sharpen your sales strategies and enhance your ability to close future deals.

You always need to be learning in a sales role and if you do not loop back on an event you wont go forward. My approach started the old fashion way- stalk Doctor in parking lot, but now I am more refined and "meet" them on LinkedIn. And this strategy can also be adapted for geography too. We don't sell the same in every market.

1. Reflect on feedback to find specific weaknesses, like product knowledge, pitch delivery, or objection handling. 2. Develop a plan with clear steps and timelines to address these areas. This proactive approach demonstrates resilience and a commitment to excellence, helping you stand out in the industry.

I saw a post recently about forgetting commission and focus on relationships in regard to trade shows. In many ways, when you enter a hospital establish relationships with EVERYONE. The security guard can be your best friend when you need to leave your car for a quick run through. As a surgical rep, central sterile is your savior - your competitors aren't your friends initially but at some point you may need there equipment to help in a situation in a room - smile and be friendly to EVERYONE !! Saying Hi with a smile can brighten someone's day or better yet make them wonder what you are up to !! Happy Hunting aka Good Selling!

Networking should be a continuous effort, especially after a lost deal. 1. Build relationships with colleagues in your field. 2. Participate in industry-specific associations. 3. Go to medical conferences to meet new contacts. These connections offer support, advice, and potential leads. Networking isn't just for immediate opportunities; it's about creating a strong professional network for long-term benefits and unforeseen opportunities.

When handling a lost deal in medical equipment sales, focus on professionalism, learning, and maintaining relationships. Acknowledge the Loss: Respond professionally to the client, thanking them for the opportunity. Seek Feedback: Request specific feedback to understand why the deal was lost Analyze and Improve: Analyze the feedback and identify areas for improvement. Adjust your offerings, pricing, and sales strategies accordingly Enhance Relationships: Maintain contact with the client for future opportunities. Offer value through industry updates and new solutions. Training and Development: Invest in ongoing sales training and knowledge updates. Competitive Analysis: Study competitors to better highlight your unique selling points.