Are you meeting with the sales team to discuss the deals they are losing? During sales training I ask this question to the group:  what deals you are losing, and why? This is not psychological warfare on your sales team; it is a healthy and productive way to build revenue. My recommendation is to meet once or twice a year to investigate lost bids.  

Typically, the reasoning behind the loses fall into one of two umbrella issues:

  • The organization has a universal problem with the product or service that needs attention. 
  • Individual or a group of sellers are struggling with some obstacles during the sales process.  

This is not a support group meeting; this is a revenue development meeting. Assessing the problem is not solving: you need solve.

If you determine it is a universal issue:

1.      Identify the core issue.  If they say price, that is not specific enough.  Ask follow up questions like pricing issues on all the products, on particular products, on bundles, etc.  After identifying the pain points, determine if you should fix it to drive sales.

2.      Market shifts can impact the sales team creating what looks like a product problem.  This is normal when a new competitor that forces you to reposition your product to offset their value proposition versus making changes to the actual product.  If you determine it is a market issue, use this time with the sales team to improve the value positions for the market.

3.      Live in this new world and do nothing. (This is the most common solution, that is why only 10% of organizations survive.)

Individual or Group of Sellers:

1.      Similar to a sales call, start with asking the right objective questions to understand the concerns.  Build a list of the obstacles preventing the close adding the necessary sales specs, like which product, pricing, client, and new or renewal.   

2.      Develop a solution to address the obstacles.  Incorporate other teams in the organization and other sellers who have developed winning strategies around these obstacles.  Always ensure they are fluent in the product’s features and benefits before you start creating solutions for specific objectives.  

3.      Over the next several months build your big book of obstacles busters. Use this FAQ of obstacles and answers as a repository of how to handle these objections in an innovate and proven method.   This builds team bonding, a positive culture and drives an increase in close percentages.

Open and honest discussions with the sales team are essential to establish trust between sales management and salespeople.  Remember, this is not a rah-rah meeting where you just combat all their issues.  This is a listen and learn where you make clear decisions based on facts and analysis.