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Business Is More Fun When You Have a Ton Of Leads Trying To Break Down Your Door And Give You Money!

What Do You Do When You Lose a Bid, Contract, Proposal, Client, Patient...?

02/24/2009

When you lose a Bid, Quote, Contract, or Customer — Keep Selling, Keep Marketing.

I’m Not saying “keep selling or marketing” in general, that’s a given.

I specifically mean sell to that same client that said NO to you. If the prospect just said no to you and hired someone else, why should you keep selling to them?

There are a number of reasons:

  1. If they bought from a competitor, they’re a good candidate to buy your product or service in the future
  2. If you’ve spent any time with them by phone, in person, taking in data to complete a proposal, you know their needs and hot buttons
  3. If you’ve developed any level of professional relationship, you now have contacts in that company and if your contact moves to another company, you now have an “instant” contact there
  4. In many B2B situations, there’s a finite universe of vendors and buyers. For instance, if you sell equipment to apply corrosion-proof chemicals to airplane fuselages. There probably aren’t many companies who need your product and vice-versa. Spread your net far and wide, and keep it open
  5. Things change. They may not get along with their current vendor and need a replacement. If you’ve kept selling to them, you will be “top-of-mind”
  6. They may have said no in the preliminary stages. After going through all the vendors they may still be undecided, or the scope of the project changes. If you’ve stayed in front of them (in a professional, persuasive, and non-annoying way), you have another shot
  7. A new project may come up. If you’re on their short list, you’ll be asked to consider it

How do you do this professionally and persuasively without annoying your prospect? We’ll go over some methods in a future post.

In the meantime, digest this one. And let me know, do you think it’s a waste of time to continue marketing and selling someone that just hired your competitor and may not need your product or service for weeks, months, or years? Leave a reply and let me know.

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