Assessing Lost Sales
by Jeff Davidson
It’s unfortunate, but it happens. Every sales professional loses out on potential customers for various reasons. The assessment of lost business entails many factors. When calling on a potential buyer the reasons for not getting the sale or the contract might include:
* Lack of adequate preparation
* Lack of knowledge of the customers needs
* Inability to effectively present your own products or services
* Not dealing with the right person
* Failure to convey your ability to successfully complete the task at hand.
Losing a Previous Customer
What are some of the reasons why you can lose a formerly good customer?
Accessibility – It is as important here as in any other line of business. Sometimes, however, the purchasing agent or buyer needs change on short notice and thus his/her need to get in touch with you is paramount.
Inadequate progress reporting – It is not just the product or service that you make and deliver that is important to buyers, it is also important to keep the buyer informed. In addition, no one likes surprises unless they are in favorable nature. A vendor who doesn’t accurately and swiftly convey problems of which the buyer should be informed is setting himself/herself up for lost business in the future.
Inability to meet contractual obligations – This speaks for itself, quality and delivery being the most crucial elements.