5 Ways to Cope from Lost Deals With CRM
Every business here in Singapore aims to boost their sales reports by converting leads into successful deals. However, it’s easier said than done. No matter how hard you try, you just can’t please everyone. And if you do not do your best to recover, it will surely affect your bottom line big time.
So, how do you recover from a lost deal? How can you ensure that your next prospect client won’t go cold on you? Here, we will discuss the ways on how to help your business cope from lost deals and how a reliable CRM software can help.
1. Understand Your Sales Processes
The sales are the bread and butter of any business. That is why it makes sense to start in the evaluation of your sales reports.
The key to making comprehensive analysis is to have detailed records of your sales opportunities, whether successful or not. When a potential deal fails, at least the necessary information relating to the sale is available at your disposal.
If you keep a record of sales processes and create notes in your CRM system, everything you need to review and evaluate your actions can be easily accessed. Moreover, when you have a cloud system like crystal dash singapore to track and save your activities, you can quickly search any deal to know where you lost it and what issues should have been taken care of right away to reverse the outcome. This way, you will know which part of the process is ineffective and have to be improved. Once you know where it all went down, you can make the necessary adjustments to make sure positive outcome of sales in the future.
2. Know why you lost the deal
Knowing and understanding why you lost a deal is a priceless information to take a hold of. The best answer to this question can be heard from your clients who said ‘no’.
To make sure that the next sales opportunity is a success, ask your lost customers for feedback. Feedback questions may include:
• Why did you decide to stop partnering with us?
• Why did you choose to work with this competitor?
• Was there anything we missed that made you changed your mind?
Let the prospect client know that you are cool with the loss and that you are open to suggestions to improve your services. This way, you will put the person at ease, making them feel comfortable to talk to you again, and possibly transact with in the future. Make sure to listen to them and try your best not to be defensive, especially if the reason they backed out was you.
3. Keep the relationship going
If you lost the deal, it doesn’t mean that they do not want your product or services altogether. Many times, it only means that the prospect is not ready to buy yet. Therefore, it is important to keep in touch with them. So when they are ready to buy or invest, you will be the first one they will approach.
Make use of your CRM system to help you with customer relationship management. Implement marketing strategies that allows you to connect with consumers and provide them with relevant offerings when they need it. This will make a huge difference when trying to close a certain deal in the future.
You can also utilize the email marketing feature of your CRM software to advertise upcoming events, new products or other updates to prospect clients.
4. Reconnect with your lost deals
Winners never quit. It is always worth trying again to reach out to lost clients, allowing enough time to pass since the moment they turned you down. People evolve, as well as their needs, so always be on the lookout for this sale opportunity.
Since part of a great customer relationship management is to keep records of clients, it should be easy to follow up on lost prospects. For every lost deal, schedule a future check-up call. When to do a check-up call depends on the length of contract you were selling (but lost to a competitor).
For example, you were selling a one-year service but lost it, you would want to make your call within 10 months, when the contract is coming to an end. That is the best time you want to present yourself again. If you check up on them after 12 months, then you’re too late and probably lose the deal again.
So make sure to keep past clients’ information safely stored in your cloud CRM for future use.
5. Focus more on winning opportunities
The key to ensuring that your sales management is dealing with better sales opportunity is to find the right people to sell your products or services to.
Start by identifying your target market, your ideal client profile and ways to reach as many potential clients that fit your ideal profile. Once you know who your ideal clients are, be proactive with your sales management. Try to perceive the reasons why you might lose a sale before it actually happens.
If you find yourself doubting on the services you offer, whether it is going to fit a prospect client’s needs, make sure you can turn the table—or move on. When you think you cannot sell yourself to a customer, stop right there and redirect your attention on deals you know you can win instead.
Nobody wants to lose a deal. However, it’s inevitable in the world of business, especially here in Singapore. While losing a big client can be upsetting, it can also serve as an opportunity for growth. If you happen to experience this, do not just forget about a once-valuable customer. Take the time to identify and analyze what went wrong. Take advantage of the information you have in your CRM system to improve your processes, customer relationship management and overall productivity.
Creative Ways to Earn More Money
Properly handling your finances is an important aspect of living a financially free life. Oftentimes, cutting back on expenses is the only way we see to make ends meet – but it’s no longer the only option these days. Apart from reducing your expenses, earning extra money will also give you the financial freedom that you seek. That said, we’ve listed down some creative ways on how you can earn more money and maintain the current lifestyle that you have.
- Sell Stuff Through Craigslist
Craigslist is considered as one of the best places to exchange goods and services to earn money. But aside from selling stuff, the site is also considered a great place to get some freebies. Craigslist is actually full of rare gems that you can resell for a decent return. All you’ve got to do is look for free stuff that is currently selling on the site or elsewhere. Some of these items are usually in good shape but if not, simply spruce it up and resell it on Craigslist, a garage sale or a flea market.
- Rent Out an Extra Room
If you have a spare room in your home and you want to generate an extra income, consider renting your free space out. If you’ll be travelling a lot this year, then rent out your place to make some money and help you pay for all the expenses on your trips. That sounds like a great way to earn some extra cash while enjoying your travel adventures. Also, don’t worry about the security of your place since security options can be placed on your home to make this earning option less terrifying than most of you think.
- Teach Online Classes
Whether you’re already a seasoned professional or still starting out, there is probably something that you’re good at. Even if it’s something that you never got credited for, chances are you have a skill that other people may find valuable. Make use of that skill to earn some extra cash by teaching in Udemy, SkillShare or Teachable.com. You can use these sites as a lucrative way to earn a passive income, and you don’t need to be an expert to take advantage of this option.
- Be a Field Agent
No we don’t mean becoming an FBI agent – we’re talking about the Field Agent app. All you’ve got to do is sign up for an account and take on small tasks from different clients in your town. Your task can range from conducting surveys to checking prices at local supermarkets. You also get to choose which task you want to have and get paid based on the assignment.
- Join Direct Selling Companies
Direct selling companies like Mary Kay and Avon allow anybody to start their own business for a very low cost. Becoming a sales representative for such companies is one of the easiest ways to earn some money, especially if the product you’re selling is something that you use or love.
Earning money is now easier these days. All you’ve got to do is make use of any skill you have and you’ll surely be able to achieve the financial freedom that you’ve always wanted.
Using Custom Printed Envelopes for Your Business
With the various developments in the packaging industry, it makes it possible for both people and companies to find the right type and style of envelopes they should use for their personal and business mailing purposes. From being a hollowed-out clay sphere used back then for financial transactions to red paper envelopes in China, and it is now one of the most flourishing business when it comes to office supplies. The addition of printed envelopes in the line-up of postal packaging products within the world of packaging is certainly one of the greatest improvements.
Why is the printed envelope very valuable today for most businesses? Why is it important for a company? Why is it a must for companies to employ such direct mail tactic for their marketing techniques?
Well, it’s a fact that we all know of the fierce competition amongst businesses selling the same products and promoting the same services with just a little distinction. To stand out among the rest, companies need to develop various marketing strategies in order to grab the attention of potential customers and retain their existing clients. With numerous strategies you can use, one of the simplest yet very effective advertising technique used by companies for direct mails is the custom printed envelopes. This type of envelope may considered as simple and really basic yet it can create a lasting impression about your company.
If you really want to customize your envelopes by having custom designs printed on it and fill it with eye-catching graphics then you will be getting these valuable gains for your company.
Your company gains a professional-looking postal packaging item.
When you have a custom printed envelope, you are able to achieve a container for letters and documents that looks professional. You have the option of designing an envelope you can use for official mailing purposes and another one for promotions. However, the great thing about printed envelopes is that the recipient will be able to create an impression about the professionalism of your company. It is a great advantage because it’s a plus point for the company.
Your company is able to create an impression to the recipient.
The intention for all the marketing efforts used by the company is to make an impression to the recipient or the potential and existing customers. What is the impression created by a company sending a letter to their desired recipients? The recipient may feel important because for him to suddenly receive a letter from a company means that the latter took the time to research him and his address to send a promotional item. It creates a lasting impression that will be vital for the company in the end.
Your company can get lost mail because your name and logo is printed.
In the event that your company sends a bunch of letters to different recipients but some got lost or the recipient is no longer residing in the address, it will be easy for the courier to send it back to your address. It decreases the increasing number of lost mails and can then be resent to other recipients with the right address. Indeed, a postal packaging product that has customized designs provide a lot of gains to the companies.