『What About The Deals We Lost』のカバーアート

What About The Deals We Lost

What About The Deals We Lost

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Salespeople spend enormous amounts of time thinking about the deals they won and the deals they lost to competitors. But there is another, potentially much larger category we often ignore: the buyers who didn't buy from anybody. That group should be fascinating to us. If the client didn't choose us but also didn't choose a rival, perhaps our problem wasn't the competition at all. Maybe the real competitor was doing nothing. That changes how we should think about selling. Why do so many sales opportunities end with no decision? The biggest competitor in many sales situations may not be another supplier. It may be the client's decision to do absolutely nothing. I am a big fan of American sales coach Victor Antonio and his Sales Influence Podcast. In one episode, he discussed research suggesting salespeople close around 40% of the deals they pursue. That leaves 60% which don't close. The interesting part was his breakdown of that 60%. Only around 20% of the total opportunities were reportedly lost to competitors. Another 10% stalled because the price frightened the buyer into doing nothing. That still leaves a substantial group who didn't buy from us, didn't buy from the competition and didn't stop purely because of price. So what happened? For salespeople, this is an important distinction. We tend to conduct win-loss reviews based around, "Why did they choose the competitor?" Maybe we need another question: Why did the buyer decide that changing anything wasn't worth the trouble? Do now: When reviewing lost opportunities, separate competitive losses from genuine "no decision" outcomes. They are different sales problems and require different solutions. Is a lost sale really a price problem? Price matters, but price and value are not the same thing. A buyer can afford your solution and still decide the gain isn't sufficiently attractive to justify taking action. Victor Antonio's argument was that some stalled buyers simply didn't see enough value. That makes sense. Value depends entirely on what the client considers important. The gain might involve reducing costs, increasing revenue, accelerating delivery, saving employee time, improving integration with existing systems, reducing risk or making the client's own offer more attractive to its customers. Unfortunately, salespeople often decide for themselves what the client should value. We become enormously excited about our solution's features and benefits. We explain what it can do. We show the data. We provide evidence. Meanwhile, the buyer is quietly thinking, "So what?" The question isn't whether our solution has value. The question is whether the client perceives enough value according to their own criteria to justify changing their current situation. Do now: Ask clients explicitly, "When you assess a solution like this, what would represent significant value for you?" Why do salespeople struggle to discover what clients really value? Many salespeople don't discover value because their questioning is too shallow. They collect information without uncovering what really matters to the buyer. I see this regularly when we teach salespeople from Japanese companies. When we reach the question-design portion of the training, the idea of deliberately constructing questions to uncover needs, motivations and value can be surprisingly new. The traditional approach is often to get quickly into specifications, data and product features. That is basically throwing mud against the wall and hoping something sticks. Professional sales training is still not as deeply established in Japan as it is in some other markets. A lot of development happens through OJT — On-the-Job Training. The danger is obvious: inexperienced salespeople can inherit the habits of other salespeople who were never formally taught consultative selling themselves. Even salespeople who ask questions often miss opportunities to go deeper. The buyer gives them a hint. A flag appears saying DIG HERE. They ignore it and move mechanically to their next prepared question. That is where enormous amounts of useful information disappear. Do now: When a buyer reveals an important issue, temporarily abandon your question list. Probe it with "Why is that important?" and "What impact is that having?" Can implementation effort kill an otherwise attractive sale? Yes. Buyers don't evaluate only the potential gain from a solution; they also evaluate how difficult achieving that gain will be. I have experienced this myself. I teach in the Japan Market Expansion Competition, or JMEC, a non-profit programme where teams of young businesspeople work with companies and develop business plans for them. I have also been a paying JMEC client. In our case, I received the team's finished business plan — and threw it away. Why? Not because the ideas were necessarily bad. The problem was the amount of effort required to implement the recommendations. When I compared that effort with the likely gain, the equation ...
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