Our “Startup Selling: Sell More Stuff” course on Udemy is now live, and it’s free.
Straight up – choosing a price was an enormously difficult decision. After many, many customer development conversations and lots of sound advice from everyone all around, we decided that this very, very awesome course should be free. And so it shall be.
1. It’s impossible to price based on each user’s perceived value.
We’ve worked with Udemy along the way – production tips, marketing ideas, pricing guidance. Most Udemy for-pay courses fall in the $49-99 range. So think of our course as a premium comparatively and should be $89 – at the higher end of this price spectrum.
But… $89 doesn’t capture the value of the course. Helping just one company build their sales process equates to millions of dollars of economic value created. Seriously. I’ve put this course into action myself in consulting arrangements and watched companies improve their sales performance.
We know when we provide value to people, real value, that’s the peak of our professional life. It happens every day with our paying consulting clients. When a client that pays a $10,000 retainer watches their sales pipeline grow and multi-million dollar deals advance in the sales cycle, that’s real value.
Attempting to capture this sort of value in an $89 price tag feel cheap. In fact, $89 feels cheaper than free.
And besides, for every startup CEO looking to meticulously implement the course ideas and build their sales process, there are thousands of entrepreneurs, salespeople, sales managers, technical cofounders, and engineers that are simply looking for a few ideas to jumpstart their learning today, this week, this month. Look at this Quora question I recently answered.
Do we really think this person would be willing to spend $89 for one course on Udemy, let alone our course? Doubtful. If we offer real value to this person though, they’ll remember and will come back for more when it’s time.
2. Buyer behavior and price elasticity
I picked one of our course users to analyze their behavior. This person is pretty active on Udemy, with 111 active or completed courses, and another 70 courses on their Wishlist. I reviewed all of their courses to see if a buying or behavioral pattern emerges.
Active & Completed Courses
Most of the person’s paid courses were tech-based, ranging from Excel to jQuery/AJAX to Joomla. They did pay for two “startup/business” courses. The rest of their business-related course were free courses. Here’s the rundown:
- Startup “How To”: 7 Steps to Creating a Successful Product – Janice Fraser ($199)
- Startup & Go – First Steps to Building a Technology Company by Founder Institute ($99)
- Foundation of Business Strategy (Free)
- Startup FAQs (Free)
- Lean Canvas Course by Ash Maruya (Free – 2.2k students! Ash – you are the man…)
- An Entrepreneur’s Checklist (Free)
- Entrepreneurship – From Idea to Launch – (Free)
- Plus lots of free tech-based courses along with the for-pay courses I mentioned above.
The for-pay startup courses are led by serious brand names – Janice Fraser and Founder Institute.
All of the Wishlist courses are for-pay courses (obviously):
- Sales & Persuasion Skills for Startups $180 by Len Smith (373 students)
- The Ultimate Guide to Business Development at a Startup by Andrew Dumont $79 (550 students)
- A Young Entrepreneur’s Guide to Start & Grow a Business $79 by TeleTime Video (16 students)
- Become a Startup Founder by Founder Institute $399 (502 students)
- Running Lean Workshop by Ash Mayura $297 (336 students)
This person paid $99 for a Founder Institute course, but hasn’t yet paid for their $399 course; took Ash Mayura’s free course, but hasn’t yet paid for Ash’s $297 course.
See the trend here? I do. I’m detecting a price curve.
Bottom line – until this person recognizes SalesQualia as a brand name delivering quality content, they won’t pay for our single course.
I’m 100% certain that pricing our course at $89 would have put us in the “WishList,” if at all. Instead I have the opportunity to interact with this person, help them grow, and also learn about their buying decisions for future courses.
3. From a customer development call: “People buy sales training to make themselves feel good. They like to feel like they’re doing something positive.”
This may be true, and if it is, we’d rather give away ideas for free to help that person feel good than try to squeeze $89 from them. And in most cases, we won’t be able to squeeze the $89 anyway. And we can’t help the people that are paying $89 to feel good anyway. We’re about improving sales performance, not Tony Robbins motivation. And the thought of squeezing anyone for money gives me shivers.
This person urged me to charge for the course after I told him it would be free.
Him: Respect the wallet. Why charge a shitty price for a shitty product?
Me: It’s not a shitty product.
Him: Then why are you charging a shitty price?
This person has three sales course on Udemy – two free and one paid ($97). He experimented with several price points:
$199 to start: 0 sales
$97: some sales
$34: 0 sales (his price was pushed down by Udemy in a course promotion, not by his choice.)
His $97 course has more than 100 users – !$9k in revenue. Seems like we’d need to really hustle to earn that $9000.
Or we can give the course away for free and we can concentrate our effort on learning and applying this learning to developing more products with a lifetime customer value much higher than $97.
We think $89 says we’re a sales training company. A sales coaching company. We’ve done those things but that’s not who we want to be or who we want our customers to be. Sales training is a temporary fix. Sales coaching turns us into shrinks. We’re building our company to focus on the very best in sales analytics.
4. Information asymmetry
The people who know SalesQualia - workshop attendees, our Startup Sales Meetup group, tech group organizers, entrepreneurs, clients, and startup friends - know that we create really good stuff. They know we work hard to prepare and deliver awesome workshops. Our Net Promoter Score reflects this. (We’ve hit +40 in our workshops
For our advisory clients, they know that what we’ve worked on has improved their sales performance.
So if we’re so awesome, why not charge for the course?
Because this community is a micro-unit of all of the entrepreneurs, startup CEOs, and sales people out there that we want to find – that we NEED to find to build a successful business. For every person that knows SalesQualia, there are hundreds of thousands of people who don’t. Literally. This is the first of many courses and products that we’ll to build over the next millennium.
5. Conversion Rates – Free & Prepays
In the week prior to launch, we tested landing pages – nearly 500 page views of 6 different designs – targeted on Twitter with the hash tags #leanstartup #startup. We had 4 conversions – <1%. We think this proves the information asymmetry exists for our brand. We learned that even getting free conversions is hard.
We didn’t try paid ads – Facebook, Google, LinkedIn – yet. We did a Clarity call with a previous Udemy executive. He shared that the paid ads had proven unsuccessful for Udemy courses, and I suspect it’s because of information asymmetry.
(Yes, we realize that our Landing Page tests are incomplete. It’s the best we could do given time and resource constraints, and I think that this test is a fair indicator of conversion for our product in our market.)
I built a small “Friends of Scott” list that included friends in the sales profession and current/recent advisory clients. Of the 17 friends and clients that prepaid, only one joined the class the day we launched the course. A second joined the day after.(Sheesh. C’mon people – we’re depending on you for testimonials!) We now need to go back to the other 15 and hound them. I’ll repeat that – I have to go back and hound the my friends that paid to take the course!
(Sidenote: Maybe there’s some sense that they’ve served their duty by prepaying – “I paid Scott $19. I contributed.” Funny huh? I don’t care about the money and yet we charged the people most likely to do us a favor. Did I burn the favor by asking for $19 when I should have asked friends to take the course instead and leave a testimonial? Maybe. I’ll find out. The good news is that we have 15 people in the course as of this morning with another 15 that should be joining in the next two days. That’s a good start considering we’ve posted only a single tweet about the course yesterday.)
People are busy. That’s the point. Even “free” means spending time. Literally spending the scarce amount of time that our target market has available.
Then why did you charge friends $19 before the launch?
During production, we felt we needed to charge for the course. One of our core beliefs in sales is that charging any amount, even $1, yields different and valuable consumer behavior and activity. We planned to run a tiered pricing schedule over three months – $19 in November, $39 in December, then $89 in January.
We thought the $19 would be a fair introductory price to find a few “friends and family” people to prepay, and thus be able to say that we had X number of people in the course at launch. Our goal was 25 prepays before launch.
This was a good test to see which of our friends were really willing to support us. We slowly expanded the circle of people as we asked for the $19 prepayment. We had to watch the face of people and deal with silent replies to our emails. Asking friends for $19 is really hard because you know you need to bring them value or damage your relationship with them.
Funny how you weed out people – who say they’ll do it and which people follow through. Most people followed through, a couple did not. Now we know who we can depend on for future projects likes this.
6. What about the people that sign up and don’t finish the course because it’s free?
That happens with for-pay courses too. See above – “People are busy.” We verified this with other Udemy course instructors.
Following people through the course also helps us discover which of the sections are cumbersome or difficult. Knowing that people sign up for a course and never take it measures actual saturation rates – not just customer transactions. We have more than five (5) hours of video on the course. I’m already thinking that this is too much. What? Yes, really. Maybe people would rather take five one-hour courses rather than one five-hour course. Guess we’ll find out, and real users yield that data.
Plus we have the opportunity to overwhelm our users with value. We can test new content ideas to see if that moves any of the stalled users to action. If it does, then maybe we’ve hit on a hot topic to explore more.
7. We’re still learning our marketing channels.
Here’s a partial list we’ve defined (suggestions welcome):
- LinkedIn, Twitter, and Facebook to reach my immediate network.
- LinkedIn Groups
- Email campaigns to our lists and groups.
- SlideShare and YouTube where we’ll publish course previews.
- Hosted Webinars & Google Hangouts
- Influencers and Multipliers that have agreed to amplify our message about the course.
- Meetups and Technology groups willing to share the course with their members.
- Universities & Entrepreneurship Groups
- Incubators, Accelerators & Shared Workspaces
- Communities like StackExchange and Reddit
We have a list of ~2000 people on Quora that either follow me or have viewed at least one answer on mine of Quora. We can send a personal message to each person asking them to join the course. Quora publicly posts who are Followers of specific topics. Entrepreneurship: 448,638. Startups: 292,103. Lean Startups: 232,573. All the way down to SaaS Sales: 475. We can send each of them a note as well.
If we ping each of these people about a for-pay course, we’re spammers. If we message them about a really cool free course, we’re helping them. Will it work? We don’t know, but we’re about to try.
8. Add value, add value, add value.
$89 is a premium price in this market. For $89, people expect something to be pretty freaking awesome. And while we think our course is pretty freaking awesome, we’d rather someone take the course in utter disbelief that such a course could possibly be free.
“Free” also blows up the for-pay market on Udemy in our segment. Sure, there are a few excellent courses by the brand names or courses with content contributed by leading sales experts. Some of those are free too. For anyone else that wants to build a sales course on Udemy, it needs to be free or much, much, much better than our course. Or maybe just better at marketing. And we’ll work until our eyes bleed to make sure that never happens.
9. We can always charge later if we really, really want to.
We’d rather start with the course as free, then charge for new courses down the road.
We believe it’s better to have one course as free – forever free – then create more value down the road than to come out of the gate at $89, sell very few, then drop have to drop price dramatically (or have Udemy do that for us…) or changing it to a free course, giving the appearance that the course must not be very good otherwise more people would have spent $89 on it.
10. We’re building a company, not selling an online course.
This course is the one of many products we have on tap. If we’re wed to making money on this one product, we risk running a two-variable experiment. The first variable is whether or not the content is useful to the broader community, and the second variable is price.
Our goal is to reach 1000 users by the end of 2013. That’s 25 new people every day that will take the action to register for the course. Our goal by March 2014 is 2.5k users. We’re more concerned about reach, learning how to develop a great course, and learning how to reach our market than the money right now.
Of course it sounds like a cop out for those demanding that a product’s true value cannot be tested until it’s sold. I agree – for this product. We’re building lots of products and to isolate our learning, we need to reduce the variables in this experiment.
Heck, we don’t even really know the market wants this course in the first place. Sure, we did customer development and saw a demand based on in-person workshops hosted all over the country. This doesn’t mean the world wants this content in an online environment.
We can, and will, build more products. We’re committed to this market for the long, long run. Like the next millennium long run.
In “Think Better: An Innovator’s Guide to Productive Thinking,” Tim Hurson discusses the concept of “wave thinking.” Examining a problem not once, not twice, but three times to determine a solution:
- 1st solution = obvious
- 2nd solution = more interesting
- 3rd solution = creative
Ahhh… How about your client interactions? When you find a new prospect or begin learning customer needs, how quickly do we jump right to the first solution as it relates to our product. It’s the most obvious right? The prospect has a problem and has come to your website or agreed to a conversation with you. As you confirm the problem with the prospect, the most obvious tact is to discuss how your product solves that problem.
What if instead you just listened and then scheduled a second call a few days hence? What if you simply told the prospect – “I think I have a few ideas for your problem and I want to talk it over with my team some more.”? By the second conversation, bolstered with ideas and perspectives from your team on the prospect’s problem, you’d automatically present more interesting solutions that include your product and perhaps 2-3 ways to solve related parts of the prospect’s problem.
Then after discussing this 2nd level solution, you ended the conversation with – “I think there’s a few more ideas we can build on this. Can you bring in a couple of people from your team for one more round of conversations to analyze your situation? I think from there we’ll be able to craft a solution set for you and be much more able to develop a work plan to implement these solutions together.”
Wow – that would be something wouldn’t it?
Last night, I sent out an cold “InMail” yesterday to a “D” contact and got a reply. My first reply from a D. We’re setting up a time next week to talk. (Reminder: “Ds” are cold contacts – people I’ve never met before - in my classification system for customer development contacts.)
Sidenote: That’s the second reply to an InMail (out of three) this week. The first reply was from a “C” contact. with whom I’ve yet coordinate a time . He and I played some phone tag this week. The third is also to a “C” contact, from whom I haven’t heard back yet.
How did I find this person?
I was on the LinkedIn profile for a person I’d met previously at a conference (the other “C” contact in InMailed yesterday). After sending that “C” contact an InMail, I looked at the “People Similar to ___” box on LinkedIn and saw this person’s profile. It was a good match in terms of job title and role, so I crafted an InMail to ask her help:
Hi ___ – I saw that we’re both know ____ at ____, and in reading your profile, I thought you’d be a good person to ask about a research project I’ve been asked to do for a mortgage tech startup.
Specifically, I need to learn a few key points in the underwriting process and thought you’d be a really good person to ask. We’re trying to get some visibility about consumer expectations once a loan reaches the underwriting stage.
Do you have 15-20 minutes over the next two weeks? I can’t offer much except good karma and a Starbucks next time we’re in the same place.
Many thanks for reading this far – I’d really appreciate a few minutes of your time and expertise!
(415) 596 0804
Other factors that influenced why I chose to send this contact a blind request
- The person had 500+ connections, indicating an active use of LinkedIn.
- The person had deep experience in the industry – several companies and roles in this area I care about for this project.
- The contact’s photo was a very happy photo – one that indicated to me that they’d be friendly.
- We had a contact in common that I could reference in my InMail. (LinkedIn will suggest this, and other tips, when crafting InMails.)
Had a very good call block yesterday. My goal was 12 calls, and I hammered out 16. An early trend emerging that is unsurprising and important. More on this below…
I’ve started a process to track my call outcomes. I don’t know how long I’ll stick with this – just a way for me to measure results and sources.
- Type 1: Real Customer Development conversions. These are generally appointments established from previous calls/emails.
- Type 2: Outbound calls during which I talk to the prospect, and we agree to set a definitive time to have a true Customer Development conversation (i.e. Type 1 call is now set).
- Type 3: Outbound calls that go to voicemail, followed by a personalized email to the person, AND the person returns my call/email.
- Type 4: Outbound calls that go to voicemail, followed by a personalized email to the person, but no return call/email received yet.
- Leftovers: Call backs and emails from previous days’ calling efforts to scrape up more appointments.
- “A” Contacts: Personal and professional friends. People I’ve known and worked with in the past; people who I know will take my call and make time for me.
- “B” Contacts: People I’ve met in person or have had an extended phone conversation or two, and with whom I’ve actively kept in touch; also includes introductions from “A” contacts.
- “C” Contacts: People I’ve met once or twice (i.e. at a conference, as part of a group presentation) and who may not remember me even though I remember them.
- “D” Contacts: People who don’t know me at all.
- Type 1: Three (3) of these. Two were appointments set last week. One was the result of an outbound call earlier in the day, and the subject made time for me right away. All three of these were “A” contacts. The one that made time for me in the afternoon without an appointment was heading to Paris last night, yet she still took 30+ minutes to talk to me, then gave me four more people to call, and invited me to host meetings during an upcoming conference at her company’s reserved meeting area.
- Type 2: Six (6) of these. I reached these people mostly through “voicemail then email.” 5/6 are “A” Contacts. One was a “C” contact that I emailed via LinkedIn’s InMail function because he’s switched companies since we last spoke and I did not have his current contact info.
- Type 3: Three (3) of these. All three are “B” contacts. I now have two appointments set for this week, and was told by the third’s assistant – “You should call him at 8AM on Thursday. His schedule is clear at that time and he’s always in the office early.”
- Type 4: Two (2) of these. One A and one C contact.
- Leftovers: Two (2) follow up emails from voicemails I left on Monday and I hadn’t sent the follow up email on Monday right away.
See the trend? Great customer development calls and pingbacks with my “A” contacts. Less so with the B, C, and Ds.
More calls scheduled for Thursday, so another post soon on how that goes.
Lessons learned so far:
- Use the network where you can.
- Soon the network will run dry, so get introductions in every call with “A” contacts.
- Figure out the script for the “C” and “D” contacts. These represent the “rest of the market” once we’re ready to sell an early version of our solution.
- There are more lessons to learn. It’s only Day 2 of this project.
I teach clients to set daily goals when I’m teaching clients how to manage their selling days. Yesterday, I set a goal to call ten (10) contacts for a customer development and sales project we’ve undertaken for a new client.
- 10 planned calls
- 8 outbound calls
- 2 conversations
- 1 call back
- 3 emails for me to send today as follow up
The gory details:
- Left three (3) voicemails, and have yet to send the emails I promised to send to the recipient as a means to find a time to talk with them.
- One of the VMs returned my call, and left a VM because I wasn’t available. I know this will lead to a call by week’s end.
- Spoke to two people briefly (under 10 minutes). One was a cool introduction from a close contact I spoke with last week. It took him a few minutes to warm up. He started off the call telling me – “This isn’t a good time.” Then we ended up talking for nine minutes, and an agreement to schedule a longer call in the week. The second was earnestly happy to hear from me. It also wasn’t the best time for him, and we agreed to a specific time to talk later in the week. I sent him a note on LinkedIn (he was already a connection) to confirm that I sent the meeting invite to the correct email address. He accepted the meeting invite a couple hours later.
- Had one “No Answer.” This was a top executive in his field, and I called after business hours local time (purposely to avoid a gatekeeper) but turns out no one was around. From the rings and delays in the rings, it seemed like the call was getting auto-forwarded a couple of times – perhaps from his direct office line to his assistant’s line to a main line operator. No answer means I call back today at a different time.
- Sent one email confirming a meeting today. This is a call arranged last week with a close contact. I emailed to confirm the time. He replied with “Roger that.”
Why didn’t I reach my target of 10 calls?
- I started too late in the day. It wasn’t until 2pm that I could sit and focus on these calls because of other issues I let take precedence.
- I didn’t plan properly for a few administrative items related to my company that took longer than they needed to.
- I didn’t have a specific call list prepared. I’m in the early stages of the customer development work, so the good news is that I can scan through LinkedIn and various contact platforms I’ve accumulated over the years to find people quickly. But regardless… without a call plan, I had to type out what I planned to say to each person, which took time for each of the eight (8) calls I made. Probably 30 minutes in total that I could have used to knock out the two more calls I didn’t reach.
Today is spent with the same client onsite, with two calls scheduled and big block of time in between. Targeting 12 calls today – 10 new plus the two I failed to reach yesterday. Got to get back on par.
Weekly goal is ten (10) set appointments. I’ve already got three set.
Thanks to Atlas Accelerator for the opportunity to present at their Fall 2013 Symposium last night. And a special thanks to John Sechrest for the introduction and his wonderful hospitality in Seattle yesterday. I had a hoot hanging out for the day at ImpactHUB and SURF Incubator. Even had a sunny day up there.
Slides posted to Slideshare. Check ‘em out and let me know what you think.[slideshare id=26633983&doc=atlas-20accelerator-20-20enterprise-20sales-20draft-202013-09-17-130927193319-phpapp01]
“I know that you believe you understand what you think I said, but I’m not sure you realize that what you heard is not what I meant.”
- Robert McCloskey
There are four conversations in every sales call you make:
- What you wanted to say.
- What you said.
- What you think you said.
- What the client heard.
A few ideas to align your intentions with what the client receives:
- Product demos should be conversations, not show and tell. It’s not about getting through the 17 features. It’s about showing the client the 2-3 functions of your product that solve their problem.
- Preview the product feature you’re planning to show by starting with – “You said that tracking your inbound leads from Twitter is one of your biggest marketing ROI problems. Is that right? Got it. Let me show you how we solve that for you.” Then show the feature, and ask them – “Would this work for you? or “Is this what you had in mind based on our conversation last week?”
- Map out your sales calls (read more about Sales Mapping). Prepare for each branch in the conversation tree so that you can focus on the client’s questions and statements, instead of wondering what you’re going to say next.
- Keep your sentences short and consistent. You need to drive home the message because you are one of hundreds of conversation your prospect will have that day.
- Follow a 3:1 ratio in your conversations. For every three questions you ask, leave time for the prospect to ask you a question. This creates a two-way conversation instead of an interview.
- After 3-4 sentences that you speak, pause for the client to speak.
A few more reads about conversation:
- “Talk Deep, Be Happy” (NYTimes)
- “Men – the other talkative sex” (New Scientist)
- “That’s Not What I Meant” (Amazon)
Check out our upcoming Meetup event Thursday, July 25:
Why are you sales opportunities stalling? Could be that you’re using Sales Vanity Metrics.
# of Outbound Calls
This means you are waiting for leads and prospects to call you back. And they don’t. So instead, you tell yourself – “Sales is just a numbers game and if I make enough calls, I’ll close some sales.” Sounds an awful lot like the Infinite Monkey Theorem.
Instead measure number of leads converted to prospects or number of sales advances from your outbound calls. Making 10 calls and logging five advances is far better than making 45 outbound calls with no progress on your sales opportunities,
# of Demos:
Demos stall the sale because you think the product is the reason the prospect is interested. Measuring the number of demos causes you to rush to the demo before properly assessing the client’s situation and the problem they need to solve.
It’s not your product – it’s how you can to solve the prospect’s problem. In fact, see how far you can take a sale without showing your product. And when you need to, see how short you can keep your demo.
# of Free Trials
If you are measuring the number of free trials, what you’re really doing is sending logins and pass codes to accounts will never be used. It sounds good because you think the person is really interested, so much so that they want to use your product. For free. Without any commitment. And they can screen your phone calls, never login, and never talk to you again. Yeah, that sounds great doesn’t it?
Instead of “free trials,” call them “Problem Assessments” where you and the prospect mutually agree on how the new user account will be applied to a specific problem the prospect is facing. Set a deadline and then assess whether your product solved their problem. (Hint: Set up the rules to the game so you win…)
Here’s a nice article on Cohort Analysis (http://chrislema.com/are-you-doing-cohort-analysis/) for your free trial, er Problem Assessments…
# of Proposals:
After your demo, your prospect says – “This looks great. Send me a proposal.” You fist pump because you get to notch BOTH a demo and a proposal on your Sales Vanity Metrics…
Proposals are nothing but a reason to stall. A typical proposal includes a product description, price, delivery, training, implementation, and contract length. When you send a proposal, you’re giving the prospect a list of reasons to reject your product – “not the right product” – “too expensive” – “not a good time” – “need more training…” etc, etc, etc.
Instead of proposals, write out a Project Implementation Plan with the client. Ask them what should be included so that the project is approved internally. Make them put in just as much work as you so you have a clear picture of what they exactly need.
And remember to check out that Meetup event:
Startup Sales Circle with Featured Guest Matthew Harrell, Enterprise Sales Manager with Google.
“To be good at sales, you need to be good at dealing with rejection.”
I remember a call with a very large hedge fund I’d been working with for six months. The final call ended abruptly with the Managing Director telling me – “We’re not interested.” . That was it. After six months of sales calls, product demos, white papers, engineers, and PowerPoint slides. I hung up the phone and loudly stated what a “f-cking $#*&*sucker” the guy was.
I hate rejection. I take it very personally. You should too. Because when a lead or prospect tells you they’re “not interested” what they are a really telling you is “You haven’t shown me enough value to engage in a conversation, spend money, or take a risk on my career with you.”
When I cooled down and played out the sale, I realized that I bulldozed too quickly to the product instead of learning needs. I had a product demo with 7-8 analysts on the call, and I didn’t call a single one after the call to ask them what they thought, and what problems they needed to solve. I tried to push to a close by offering to send a contract for their legal team to review – at the end of the product demo.
I did all of these things. Really. It was my fault. And so it is with you when the client tells you “no.” It’s your fault. It’s your fault. Say it with me – “It’s my fault when the client rejects me.”
Yes, there are occasional numskulls and idiots that reject you because that’s what they do to everyone. Do you really want to do business with them anyway?
Plain and simple, most rejections are your fault. Never get used to rejection. Every rejection is an opportunity to appraise yourself.
What could I have done differently?
- Did I really do my research before calling that person?
- Did I push to quickly into a demo, thinking that the product would sell itself instead of crystallizing the client’s needs?
- Did I bet too much on one contact in the account?
- Did I think the decision was about price, instead of what value I would bring?
- Did I assume a problem even existed in the first place?
My first and favorite sales manager once told me that there are a million was to screw up a sale. So when you screw up a sale, think about which of these million reasons caused the rejection and resolve to fix it. Heck, maybe call the guy that just rejected you and try again. Do something.
Just remember: it’s your fault.
Want to improve your Sales Model? Check out the Sales Model Canvas here.