If you grew up in the 90s you may remember the song I am referencing. Beck had a song in the early nineties call “Loser.” The hook was “I’m a loser baby, so why don’t you kill me?” The premise of the song is because Beck was the worse rapper ever, he was a loser and therefore should be killed.
I think in sales, it is very easy to have a deal blow up in your face and for you to get down in the dumps about your ability to sell. It becomes even more difficult, the longer your sales draught goes. Even the best sales professionals have a moment in their career where they couldn’t play dead if they needed to.
This week, I am here to tell you that losing a deal is a good thing in sales. Let’s face it, our job is to do one thing: Sell product. I don’t care if you are selling software, insurance or services…your job is to sell! I know you are thinking: “Bo if my job is to sell, why is not selling a good thing?”
Let me give you a scenario. You talk with a prospect and have an introductory meeting, you do a discovery meeting and even are able to demonstrate the abilities or your product or service. I think it would be safe to say that you are 75% of the way through the sales process. Then all of a sudden the client goes dark. After a number of days or weeks, you finally hear from them and they tell you it may be a month or two until they are ready. Two months pass and you get in touch with the client and they say they are still not ready and to meet up with them next month. The cycle of call and get pushed off continues. Each time you call, each time the client pushes you off, and each time you update salesforce; you are wasting your time and taking it away from an opportunity that could close.
I get it, it is hard, you do not want to close the opportunity. You believe that you have the best product, you have done a great job so far and the client or prospect should sign with you. Regardless, in this case, it is better for you to close it and move on.
So how do you let it go? There is one email you need to send. This email is great. Not only does it allow you to walk away from this deal but if your client has been non-responsive, this email will get them to respond. The email is called the Magic Email. I did not come up it. It was highlighted by Kurt Elster. You can learn more about the magic email at www.themagicemail.com
Here is the email:
“Since I have not heard from you on _______ (Insert topic, product or service), I have to assume your priorities have changed.”
That is it. That is all that you have to do.
Here is the magical part of the email. One of two things will happen.
- Your client/prospect will confirm that “yes, in fact, our priorities have changed” This could mean a number of things. Maybe it is year-end and they are focused on finishing their year out. Maybe they have decided to purchase something else or maybe they are simply not impressed with your offering. But because you make the assumption that their priorities have changed, it is easy for them to agree. You can follow up that whenever this becomes a priority for them to call you and close the opportunity.
- The other thing that happens is your client admits that it is a priority and they need to commit more time and energy to the decision. By calling them out for the delay, you bring your product/service to the front of their mind. Many times when I send this email, the response will start with an apology. I reply that there is no need to apologize and then set something on the schedule to move the opportunity forward.
I challenge you to give this email a try and let me know how it goes for you. No matter how they respond you have the power over your calendar because you can focus on the opportunities that have a better chance at closing.