"Lose a sale, win a customer" sounds contradictory but customers are won and lost on the emotional level. Listen to today's episode of Sales Psyched! to learn one of the most psychologically, powerful thing you can do with a prospect who may not be ready to buy from you.
Episode 15: How to Win Back a Customer by Losing a Sale
"Lose a sale, win a customer" sounds contradictory but customers are won and lost on the emotional level.
In this episode, you will learn:
· The best reaction to a lost sale
· How to make the buyer feel supported in their decision
· And how this support can pay off in the long run
Listen to today's episode of Sales Psyched! to learn one of the most psychologically, powerful thing you can do with a prospect who may not be ready to buy from you.
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More About SalesDrive, LLC
At SalesDrive, LLC
, we help companies perfect the salesperson hiring process by offering a variety of tools, like a sales assessment and psychologically-based interview guides, that aid companies in never hiring a bad salesperson again.
SalesDrive was founded in 2005 based on the single biggest frustration many companies face, selecting sales candidates who interviewed well, only to flame out when placed on the line. Dr. Croner reviewed more than 90 years of academic research as well as his own work in conducting intensive behavioral interviews and discovered that high-performance salespeople shared three innate personality traits. After identifying a gap in the marketplace, he went on to develop The DriveTest® sales assessment. The only sales assessment to measure the three non-teachable traits necessary for new business acquisition.
If you are hiring salespeople, request a free DriveTest assessment today: https://salesdrive.info/free-trial-request
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[00:00] Katherine Abraham: Hello and Welcome to the Sales Psyched podcast, where we discuss strategies for leveraging psychology within the world of sales. Each episode is hosted by Dr. Chris Croner, who has a PhD in clinical psychology and has spent his career helping companies around the world build stellar sales teams.
[00:20] Let's get started.
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[00:30] Chris Croner: Dr. Chris Croner here. "Lose a sale, win a customer." I know this sounds contradictory, but hear me out.
[00:37] Customers are won and lost on the emotional level because all buying decisions are, at their core, emotional. So, when a buyer makes a decision to buy something, her emotional level is elevated and she will remember the details of the process.
[00:54] Many salespeople display disappointment, and even resentment, when their product or service isn't chosen by a customer. This is the exact opposite of the reaction which will plant the seed for a longer term relationship and sales down the road. Nobody likes a sore loser. And trust me, during this time of heightened emotions, the buyer will absolutely remember what you say and do when let down.
[01:24] The most psychologically powerful thing you can do at this moment is to validate the buyer's decision. When someone makes a decision to buy something, they expose themselves emotionally and can feel very vulnerable. Which is the reason people often get a feeling of buyer's remorse, particularly after a big purchase.
[01:48] Your job at that point is to support and validate. Because as I will repeat again and again in this series, validation is one of the most powerful techniques for bonding with other people in the psychological spectrum.
[02:05] There's also a kicker to this strategy. Many of my sales clients have told me that they thought they lost a deal, but for some reason the competitor stumbled and the buyer came back to the person who was most supportive of them in the process.
[02:24] So, don't look at the escape of a sale as a loss. Look at it as part of the process. And therefore, an opportunity for you to express empathy, dignity, and most of all, validation to a person who is still a great prospect long term.
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[02:47] Chris Croner: Thank you for listening to the Sales Psyched Podcast. If you haven't already, please be sure to click the subscribe button and leave us a five-star review. If you found this information helpful, please consider sharing it. We'd love your help in spreading the word.
[03:05] Until next time, take care!