REASONS FOR LOSING SALES

in #business5 years ago

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Losing Sales Deals would spell doom for your company if not checked. Your ability to win clients equals increasing sales. Losing customers will deprive you from reaching your targets. There are always concrete reasons you are losing deals and it is imperative that you figure those reasons out and look for solutions before your business folds up.

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POSSIBLE REASONS FOR LOSING DEALS:


1 Not Being Aware of the Ideal Target Customer

2 Lack of Personalization

3 Focusing Heavily on Price Advantages

4 Engaging in Activities other than Selling

5 Disorganized Activities

6 No proper Sales Follow-up

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DETAILS



1 NOT BEING AWARE OF THE IDEAL TARGET CUSTOMER


As sales personnel, spend ample amount of time to find out your ideal target customers, don’t try selling to everyone. Everyone cannot be your customer. Do well to analyze who really is in need of your product and advertise to them.


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2 LACK OF PERSONALIZATION


It is pertinent to find out your leads thoroughly and personalize the sales pitches so as to be appealing to your customers. This is because different customers are enticed by different pitches. Your solution must aim at catering to the specific needs of a prospect. Ensure to create online avenues for your product advertisement. There are different social media platforms, make use of them to reach out to your target audience.


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3 FOCUSING HEAVILY ON PRICE ADVANTAGES


Offering your products at lower prices may bring more customers, but can ruin your business. Thus, ensure to provide more quality products and sensitize your customers on the need to get them, the values your products have over others, etc. convey more of values to your customers and always differentiate your products and enable the customers to know what they stand to gain from your products.
Once your products are tested and trusted, you’ll have more patronage with higher profits, than more patronage with lower profit.


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4 ENGAGING IN ACTIVITIES OTHER THAN SELLING


Allotting little time to selling causes underperformance. They tend to allot more time to get into management of projects and processes, such is not good for the company’s growth. There should be a balance through specialization.
As a company, try and allot other services to support staff and automate processes that are possible.


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5 DISORGANIZED ACTIVITIES


Sales team of any organization should be well structured and organized. Without the sales team being organized, challenges like deals closing might set in. a well-organized sales team can easily recognize and follow up with prospects, they can identify new opportunities. An organized sales team is a team that would timely conduct follows up with prospects.


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6 NO PROPER SALES FOLLOW-UP


Following up with prospects on time can increase a company’s chance of making good sales. Potential revenue opportunities can be wasted without a proper follow up.



REFERENCE:

Inside Sales Box

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