Monday, 30 March 2009

What do to when a prospect say no

One of the challenges you are going to have to deal with is when a prospect chooses someone else rather than you and your business. Now, this is OK early on in the marketing process, but it’s harder later on the cycle.

Last week, I lost a piece of business I thought I had won. It hurts financially. It hurts personally. It bruises your business ego. It’s like being dumped by a partner. I was not a happy Roddy! So what should you do?

Get over it! Nobody cares! We all make these decisions every day not to spend money with certain suppliers. We don’t obsess as buyers nor should we as suppliers.

Here are some simple tips:

1. Don’t get mad with the prospect. They have just made a decision that seems logical. They’ll hardly welcome you telling them they’re wrong.

2. Were you really as good as you thought you were. Did you offer enough value? Were you remarkable enough? Or just another supplier they could easily say no to.

3. If you want to continue a relationship with the prospect, keep your emotions out of any correspondence. “You told me I had the business” won’t go down too well.

Last week’s news was tough for me, but I took a lesson from it. I have to offer more value and be more remarkable.

Now, how do I do that?