Lose a deal, if you must, but keep the Customers
Lose a deal, if you must, but keep the Customer
"Cut your loss and move on" his friends advise him. But the young Bank RM doesn't like it. The hopeful, determined eyes of the entrepreneur haunt him. The entrepreneur must be his age. Young and full of dreams. Looking to make it big, exporting ready-mades.
The RM had promised to help. He had said he will work to get bank credit to support the export dreams. The RM assisted with the paperwork. Six months of effort. Proposal submitted and followed up. Outcome? Declined by the Zone. "Talk to him politely” his seniors said “Tell him our underwriting standards are tough. Stop wasting more time on this. It’s useless"
But our RM doesn't give up. He recalls the sales training lesson - Lose a deal, it's fine, but never give up on a Customer. Our RM is driven, dogged and determined. He goes through the rejection note. He lists the weak areas. Influences entrepreneur to give it another shot. Spends 2 hours every week to plug the gaps. They make a proposal that’s fully bankable. Two more quarters pass. Queries are raised and answered. The Bank approves a modest credit limit. Exports start and pick up. Brand makes a name in global markets. Referrals multiply. Our RM becomes a quota crushing wonder kid. Fairy tale? No. Slice of real life, made possible by die-hard determination to help Customer against all odds. The kind of resilience which creates sales heroes!
Action Question: Who is the one Customer you will work with to convert a rejection into a rewarding relationship? What steps will you take to make it happen?
Related Reading: Mercuri Insight Document on ‘Creating conditions for future sales vs selling now’
About the series: This is the 9th in a series of 100 posts that purport to build your #Sales Resilience.. as an individual salesperson, as a sales team, and as a sales organization. Because a Resilient India needs Resilient Sales.
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