How to Stop Losing Winnable Deals and Reengage Stagnant Opportunities

Elen Udovichenko
May 23, 2024
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In sales, failure is a part of the game. And before you can win, you will inevitably hear a couple of NOs. So sales reps should grow a thicker skin and learn to take rejection lightly. 

But what if some of those NOs could be turned into YESes? What if I told you that you’re losing winnable deals?

If your pipeline is more like a leaky bucket, there are a few things you can do to fix it. In this post, we will explore the common problems leading to stalled or lost deals and share tips to avoid that.

Why do salespeople lose deals? 10 common mistakes

Salespeople lose deals for a variety of reasons, most of which are within their control. The key here is to know WHY that happens and address the mistakes in your sales process. 

Source: Matt Green on LinkedIn

Take a look at the recent closed-lost deals in your CRM and try to understand what went wrong. Most likely, it was due to one of the common sales mistakes.

1. Inadequate follow-ups

Did you know that 80% of sales happen after the initial meeting? Following up is crucial. If you’re not consistently checking in, sharing valuable insights, and addressing concerns, you’re likely to lose out. Effective follow-ups aren’t just reminders; they’re opportunities to build relationships and keep the conversation moving forward. Stay on your prospect’s radar and show them you’re committed to meeting their needs.

2. Lack of customization

One size does not fit all in B2B sales. Your potential customers expect solutions tailored to their specific needs and pain points. If your messaging is generic and highlights irrelevant features, it fails to resonate with the buyer. Customizing your product offer to align with the unique challenges and goals of each prospect shows that you understand their business and are committed to providing a relevant solution. It requires thorough research and a deep understanding of the prospect's industry, company, and specific needs.

3. Speaking to the wrong person

Engaging with individuals who lack decision-making authority is a common pitfall. If you're not communicating with the key stakeholders or decision-makers, your efforts may be in vain. Multi-threading, which involves engaging multiple stakeholders within the organization, ensures that you are addressing the concerns and interests of those who have the power to make purchasing decisions. Identifying and reaching out to the right contacts early on is crucial for advancing the deal.

4. Misalignment in expectations

Early in the sales process, it's essential to vet prospects thoroughly to ensure their needs align with what your solution can deliver. Misalignment in expectations can lead to frustration and an eventual loss of the deal. Clearly defining what your product or service can and cannot do, and ensuring this aligns with the prospect’s expectations, helps in setting a transparent foundation. This prevents wasted time and resources and builds trust.

Source: Donal O’Riodan on LinkedIn

5. Not differentiating from competitors

In a competitive market, it's vital to articulate what sets your offering apart from others. If prospects perceive no significant difference between your solution and a competitor's, they may opt for the alternative, often based on minor factors like price. Clearly communicating your unique value proposition and demonstrating how your solution addresses their specific needs better than competitors is essential. This includes highlighting unique features, superior service, or better ROI.

6. Not building relationships

Focusing solely on the transactional aspect of sales without fostering relationships can be detrimental. Building strong relationships with prospects goes beyond making a sale; it involves understanding their long-term goals, challenges, and establishing trust. Competitors who invest in relationship-building often have an edge as they become trusted advisors rather than just vendors. Building rapport and showing genuine interest in the prospect's success can significantly influence their decision.

7. Not providing enough proof

Prospects need assurance that your solution will deliver the promised benefits. Failing to provide adequate proof of your solution’s effectiveness can result in lost deals. Utilize case studies, testimonials, and success stories to demonstrate the tangible results your solution has achieved for other clients. This evidence helps build credibility and provides prospects with the confidence that your solution can solve their problems effectively.

8. Slow response time

In today's fast-paced business environment, prospects expect prompt and attentive communication. Delays in responding to inquiries or providing necessary information can frustrate prospects and lead them to seek alternatives. A slow response time signals a lack of interest or inefficiency. Ensuring timely responses and proactive communication helps maintain momentum in the sales process and demonstrates your commitment to the prospect's needs.

9. Unresolved concerns

Leaving prospects' concerns or doubts unresolved can erode their confidence in your solution. Addressing questions and concerns promptly and thoroughly is crucial. This involves actively listening to their worries, providing clear and honest answers, and offering solutions to mitigate any perceived risks. By resolving concerns, you reassure prospects that you are attentive to their needs and capable of delivering a reliable solution.

10. Complexity and lack of clarity

Complexity can create friction that derails deals. Multiple stakeholders, countless emails, and heaps of documents can lead to misunderstandings and frustration. Poor next step management often results in missed follow-ups, sharing irrelevant information, and leaving questions unanswered. Clear and concise communication is key. By reducing complexity and ensuring clarity, you can prevent confusion and keep the deal on track.

Source: Kyle Asay on LinkedIn

How to reengage stagnant prospects and revive stalled deals?

Before you write off a potential client, you should at least try to reignite their interest and get the deal back on track. 

Here are five proven tips to help you reengage prospects, address their concerns, and move forward with confidence. 

  • Visualize and align the buying process

Help your prospects understand the timeline and steps required to implement your solution. Clearly outline the process and tie it to their goals. Highlight the consequences of delays to create a sense of urgency. For example, “If we don’t start implementation by next month, we might risk hitting your Q4 targets.”

  • Simplify communication and requests

Keep the dialogue moving by making it easy for prospects to respond. Ask critical questions and simplify your requests. “I know you’re busy and I’m happy to reschedule, but is there anyone else we need to involve in this discussion? Also, I need these two answers today to organize my client success team. Can you provide those?”

  • Show genuine interest to build relationships

Stay on their radar with casual check-ins and show genuine interest in their business and personal connection to their work. Send a quick note asking how they’re doing, what’s top of mind, or their plans for the upcoming quarter. Additionally, suggest new ideas, share thought leadership, or discuss upcoming product launches that might be relevant to their needs.

  • Always add value

Aside from sharing resources, you can add value by connecting them with useful resources. Introduce them to agencies, consultancies, or new tools that could benefit their business. Offer recommendations for key hires that could strengthen their team. This demonstrates your long-term interest in their success and shows you’re invested in providing solutions beyond just the immediate deal.

  • Address their concerns

Frame the situation to emphasize urgency and address any unresolved concerns. Help prospects see the consequences of inaction and the importance of moving forward. For example, “I understand you have other priorities, but if we don’t get X done by Y, we risk delaying your project significantly.” This approach keeps the deal on track and builds trust.

Source: Samantha McKenna on LinkedIn

Keep your deals flowing with a digital sales room

Stalled deals and unresponsive prospects can be a real headache, especially when your commission depends on them. Applying the tactics listed above can definitely help you keep the spark alive with your prospects. But if you’re looking for more help, consider using dedicated software to keep those deals flowing.

Here’s how using digital sales room software like Flowla can help you keep your deals on track and closing faster.

  1. No more juggling multiple email threads, documents, and chats. With everything in one place, everyone stays on the same page, reducing confusion and ensuring critical information isn’t lost.
  2. Assign action items, set deadlines, and automate reminders. This keeps you consistently on track and moves the deal forward without missing a beat.
  3. Tailor your flows to each prospect’s needs. Share relevant case studies, product demos, and customized proposals that directly address their challenges and goals.
  4. Engage with prospects in real time. Answer their questions and address concerns instantly, providing the support they need to make informed decisions.
  5. Track prospect engagement, understand their behavior, and identify any bottlenecks. Use this data to refine your approach and tackle any issues that might be slowing you down.

By integrating Flowla into your sales process, you can overcome common pitfalls that lead to lost deals. From streamlined communication and stakeholder engagement to personalized content and real-time insights, Flowla helps you close deals with confidence.

Keep your deals flowing and speed up your sales cycle with Flowla.

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