If you write detailed bids or proposals for your prospects, what happens to the ones you didn’t sign? Instead of wasted paper, these may be a source of potential sales. Are they happy? Did they make the correct decision? Has the person making the original decision left the company?
Keep a file of the "ones that got away," with detailed notes on what they liked about the service, and why they went with the competitor. Then set a follow-up date for several months in the future.
These merchants won’t call you, it’s too difficult to admit they made a mistake. However, if you call them with, "I just wanted to let you know that we appreciated the opportunity to bid on your business. How is it going with XYZ Company?"
If the merchant raves about his check guarantee or verification service, reply with a, "Well, that’s great."
Don’t "bad-mouth" the competition. However, if the merchant should hint at a dissatisfaction, probe for more details. Don’t assume the "I told you so" attitude; rather, become the "problem solver." Empathize with the merchant while you discover exactly what it is that the competition is failing to do. Allow the merchant to save face on making a bad choice.
Remember: You must listen carefully to what the prospect is saying, since many companies are beginning to really understand that increasing declines are choking their much needed sales, and they are more than happy to pay for "More Approvals."
Good Selling!SM
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