Here's a math quiz for you…
You are at gate A2 at Jacksonville International Airport. You look at the screen and see that you are number 19 on the upgrade list. On the next screen you see that there are only 5 seats available in first class. Do you board the plane as assigned with zone 2 or do you wait to see if you get the upgrade?
Until recently, I would have boarded with zone 2.
About a month ago I noticed something on those big display screens. I saw that as people boarded the plane, the numbers changed. As people who were on the potential upgrade list boarded the plane with their regular coach seat, their name automatically dropped off the upgrade list. This was valuable information.
I know these people.
You do too. Those of us who fly a lot tend to have the patience of a gnat. We need to be moving forward and will do so at every opportunity. I also learned that many of them learned their math skills in public schools. (So did I, but I relearned them in engineering school).
Here's where you win!
As I stood their in Jacksonville, number 19 became 17 then 15 then 12 and finally 5. I was number 5 with 5 seats still left in first class. Suddenly, my name was called and I was told to go to the boarding door for a new seat assignment. I made it! Seat B2 was mine!
So what happened?
It appears that the people ahead of me in line had so little faith in their chances to get upgraded that they simply rushed on the plane when their zone was called. They did what I had done a hundred times. And they lost.
Woody Allen said that 80% of winning is just showing up. In sales, 80% of winning is having the patience and persistence to still be in the game when they announce the winner.
Last week my daughter called to say that she had just lost a big deal. At the last minute they had decided to go with another company. She called because she needed help prospecting for a deal to replace the one she lost. My advice to her was to call the prospect she had just lost and try to get the deal back. Stay in the game. Fight for the deal. Show the client that you value their business and that you are willing to work for it. Don't just rush ahead and leave this opportunity in the dust. (BTW: She got the deal back!)
We know from studies that sales people tend to give up too early. We have all heard that the average sale happens after the 5th call, but the average sales person doesn't make call number two. I know both from my own experience and from the coaching I have done with sales people, that a significant number of 'lost deals' can be won if you stay with them and refuse to lose.
Why is this true?
I think it is because the prospects don't make their choices based on huge differences between vendors. They choose based on small things and they seldom find a clear winner. So when you go back in and fight for the deal, more often than not, you will show them a side of you that they had not seen. A side that tells them you are likely to work as hard after the deal as you did to get it.
If you want my "5 Tips for Winning a Lost Deal", email me at article26@waterhousegroup.com.
In the meantime, be a fighter. Earn your commission by working hard to win every deal, even when the prospect tells you that you lost. As the old adage goes, "Winners never quit and quitters never win". Be a winner.
Steve Waterhouse is Principal and Founder of Waterhouse Group (www.waterhousegroup.com), a sales consulting and training company that helps companies dramatically increase their sales. He can be reached at 1-800-57-LEARN or info@waterhousegroup.com.
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