“Start to look at the core reasons as to why you are losing the deals on a daily, monthly, and weekly basis and start to formulate a plan on how you can reduce the numbers.” – Kieren O’Connor in today’s Tip 498
Why you are losing deals?
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Scott Ingram: You’re listening to the Daily Sales Tips podcast and I’m your host, Scott Ingram. Today’s tip comes from Kieren O’Connor. Kieren is the CEO & Co-Founder of Growth Stream, a sales consultancy firm based in London. They’ve already helped their clients earn over £10 million in sales revenue for their B2B clients since launching in September of 2018. Here he is with today’s tip:
Kieren O’Connor: Thanks very much for listening and watching. My name’s Kieren O’Conner, CEO, and Co-founder of Growth Stream. Now my daily tip, especially during this pandemic when sales managers and directors have more time is to go back to your CRM and start to look at your closed loss reasons. The reasons why you are losing deals both previously and to date. For example, lost the competition, going elsewhere, unable to contact, price. Start to look at the core reasons as to why you are losing the deals on a daily, monthly, and weekly basis and start to formulate a plan on how you can reduce the numbers. For example, if you lose into the competition, go back and listen to all of them because where they were closed for lost to competition and start to formalize why. Is it industry knowledge? Is it because your sales team don’t have a clear USP? Is it that they’re not delivering it properly and start to formalize how you can fix that problem and start to reduce that close rate percentage and start winning more deals. If you can reduce that even by 50% you imagine the amount of deals that you will be doing on a monthly and yearly basis by changing absolutely nothing from the perspective of money, just utilizing the current tools that you have.
Scott Ingram: For more about Growth Stream and to connect with Kieren on LinkedIn, just click over to DailySales.Tips/498 and we’ll have everything for you there. Including the video version where you can actually see Kieren.
Once you’ve done that, be sure to come back tomorrow for another great sales tip. Thanks for listening!