Why Do You Lose Deals?

WHY DO YOU LOSE DEALS? Understanding why companies lose deals can help you perform better and increase your revenues. We've summarized the results from a recent survey by CSO Insights*: Competitor's price & terms Competitor's marketing message Competetor's sales process evecution Competitor's references 20.4% 3.7% Other 18.5% 16.5% 79.6% 1.9% Competitor's level of service / support 14.8% 55.6% 22% 37% 7.4% Competitor's account coverage Competitor's product superiority 11.1% Competitor's ROI business case Competitor's existing relationships Competitor's brand equality / reputaion Competitor's availability of product / solution SO WHAT CAN YOU DO ABOUT IT? %24 Learn to communicate you advantages Why are you better than your competitors? If your price is higher, how can you justify it? Figure out price expectations early on Make sure the prospect is aware of your price early on. Havea solid explanation for what makes up your price. Work on your marketing message More than 20% of your deals can be lost because your messaging is wrong. Build a concise, clear and simple message to communicate your superiority Choose the right target 4 market Hyper-focus on a customer segment. Understand the value proposition for this specific segment. 5 Tract and manage your process Use a simple sales tracking tool to manage your sales process. Track the reason for lost deals to improve your process. 2.