How To Deal With No Deal

So, you just lost the sale. After putting an incredible bid together, working tirelessly for months, hours of phones calls, hundreds of emails and the customer has decided to go with an alternative option that does not include you, or your product. Maybe it was new business, or maybe it was a customer who had been with you for many years but has decided to go elsewhere. What now? You could sit and think about how crazy the customer is to not have seen the vision you tried to put together for them, slam the laptop closed and say “Well that was a waste of time”. That is one option, but there are alternatives. Here are my top 5 things you can do when the deal has not gone the way you would have liked so all will not be lost.

Stay Professional

As easy as it would be to throw your toys out of the pram and stomp your feet this will just reinforce the customers decision that they did not go with you. By acting professional and taking the loss in good grace it will show off just how professional you and your company are. That’s not to say you shouldn’t express your disappointment with not getting the company’s business, but you should display it in the correct manor.

Offer Contact

The choice to not purchase this from you does not mean you need to cut contact. Offer them contact in the future. Say “this may not be for you right now” but perhaps if there is something else you need for your business in the future you would keep me in mind. This leaves the door open for business in the future. Chances are with technology and customers’ needs changing all the time they may need something from you in the future. It also means if the company who they have chosen messes up your door is still open.

Thank Them

Thank the company for considering you in the first place. Most companies will expect you to go cold once they have said no, but by saying thank you despite the choice not to go with you this may even have them having second thoughts. The last thought you want them to have of you is a good one, not a crybaby who sulked because they did not get the deal.

 Ask why you lost

It is important to find out why you lost. Moving on without finding this out will just lead to more losses in the future. Finding out what you could have done better or why they selected another vender will give you more ammo going into the future so your next bid is a win. There is an old saying “You learn a lot more from a loss than a win”.

Add them to Social Media

 If you are not connected on LinkedIn or other social media platforms already, send the customer links to not only your personal profile, but to the company social media page also. This will be a good way for the customer to keep you in their mind going into the future. Building rapport with them when the deal has already been taken off the table will show you are genuine in doing what is right for them, and who doesn’t like dealing with genuine people.