Wednesday, December 24th, 2008: Top Reason for Losing Deals

"CloserQ, if you had to name one factor that causes sales people to lose sales, what would it be?" Linwood

Linwood, what a simple question that could take pages and pages to answer. I was originally working on a larger response with my rankings of the top reasons based on the sales situation, product, buyer, etc.. As I reread and reread your question and thought deeper about my response, the 'one factor' that I kept returning to is LISTENING or more accurately, NOT LISTENING.

'NOT LISTENING' is my number one factor people lose sales.

Listening is hard for most people and even harder for sales people. Often we are so excited about our solution that we want to talk about ourselves first. In my personal sales career, I have often done a better job of selling a product or service that I knew less about because I had to listen more and talk less, versus a solution that I thought I had all the answers on.

During your next presentation or meeting, time how much you speak and how much your prospect speaks. It s counterintuitive but ideally they should speak roughly 70% of the time and only 30% of the time for yourself. Think of yourself as a 'Sales Doctor' curing business problems. What does the doctor do during your visit, he or she asks questions first (LISTENS) to your problems before recommending (TALKING) prescription, physical therapy, surgery, seeing another doctor, etc.

As usual, I will end with a quote from Steven Covey, "Seek first to understand (LISTEN) then to be understood (TALK)"

Linwood, 'Good Listening' and winning quality business. Reader Feedback, please click the comments below to give ‘Linwood' additional recommendations and I want your feedback on my response. Shaun Priest aka CloserQ.

MERRY CHRISTMAS to you and your families.

Comments

Anonymous said…
I 1000% agree with you on this. Listening is the biggest downfall of sales reps closing deals. I like to use the ratio of 2 ears to 1 mouth.

Have a great new year !!

MT
Anonymous said…
I agree as well. Listening is a critical element in successful selling but I must say that it is just ONE element in what has to be an exquisitely choreographed sales effort. I have worked with good listeners that have not been able to close a deal...mostly because they don't know what to do with what they have heard! Let's face it, ya need the whole package!

Happy New Year.