Friday, February 22, 2013

Learn from My Mistake: 4 Ways I Lost My Last Sale

Do you want to lose sales?

Stupid question, huh?  Would you like a better one?

Recently, I did some foolish things that caused me to lose a sale.  Would you like to try learning from MY lesson so that YOU don't repeat it?

If not, then you might not want to read this post.  Otherwise...

A small business owner was nice enough to arrange for me to teach his coworkers some marketing skills.  He set aside a day for them to come.

The catch?  Each of them had to pay their own way.

Now this guy is a great salesman, and he told me that he'd take care of it.  That was nice of him, but he is a busy guy, and he has other things to handle besides my class.

In the end, I lost the sale, and I realized that I could have--and should have--done things better.

  1. Spend Individual Time: Find What Matters
  2. Create a Professional, Easy-to-Read Flyer
  3. Send Reminders
  4. Offer a "Can't Miss" Special

1. Spend Individual Time: Find What Matters

In this case, I met most of the people; so I have a little bit of a relationship with them, but they never had to pay money to spend time with me.

I should have taken time to find what their needs and wants are.  This would have helped me shape my discussion to find ways to help them with their concerns, instead of me just asking them for money.

Since I relied on the business owner to make the pitch, it was easier for each person to say, "No."  More importantly, I failed to find how I could make each person's life better.

I needed to spend time with each person individually.

2. Create a Professional, Easy-to-Read Flyer

People often need time for buying decisions, especially when it is for something intangible.  People are not looking for reasons to spend money, anyway, but they really are not interested in spending money on something that they cannot touch nor relate.

A professional looking flyer that is easy to read would make it easier for people to get excited about what they are going to learn.  A good flyer spells out everything, making people almost fearful of missing on really important information.

A professional, easy-to-read flyer would be a constant sales pitch, even when I'm gone.  Plus, having people register makes them just a little more committed than a verbal "Yeah, I'm coming."

That often leads to, "Oh, I forgot.  Sorry!"

3. Send Reminders

People have busy lives.  They certainly have more important things to remember besides your event...UNLESS you MAKE IT IMPORTANT.

How do you do that?

You present it AND keep reminding them.

You can send them emails or even remind them in person.  If you really want to make an impression, you can send a "Thank you" letter in advance.  You really are thankful they registered, right?

I didn't do any of that.  I needed to remind them, and they forgot.  That's my fault!

4. Offer a "Can't Miss" Special

Most of us need some encouragement to spend money.  Many of us need value.

I don't mean some crummy deal that we're insulting people's intelligence by calling a "value," but we need to create an offer SO good, they feel more uncomfortable saying, "No," than they do saying, "Yes."


See Also: Are you offering an incentive or an insult to my intelligence?

When you make an offer they can't refuse, they want to accept it.  Just as importantly, they will remember.  They won't forget; they won't want to forget.

I did not think to do this until it was too late.  If I want a group of people to respond to what I'm selling, I need to make the offer so appealing that it becomes fashionable to say, "Yes."

Next time, I plan to get that sale.  Of course, that means I will have to apply what I just suggested to you.

Don't lose any more sales for the wrong reasons!  (especially those that you were about to get)

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  1. When you start a business, it is really important to consider on how to increase your sales and products and how you gain more customers using it.

  2. Hi, Billy. You're right about the importance of increasing sales. What do you mean by "increasing products," though?


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