Every experienced Sales Professional has that horrible story of winning a big deal, “ringing the bell,” starting implementation while the contract was still being signed, and feeling great about life…
Until the bottom fell out when a different vendor “stole the deal.”
I was working with a client in the specialty chemical industry to design a new strategic selling program. During a subject-matter-expert interview, I heard a story about a salesperson who won a brand-new logo from an incumbent vendor. The incumbent, who had been living in the account for more than a decade, apparently became complacent, got expensive, and saw quality decline. So, the customer decided to shake things up and issue an RFP.
My client’s organization responded quickly, demonstrated credibility, and offered a higher-quality product at a lower price, winning the business.
But something nefarious happened on the way to happiness. The former vendor, who had built up numerous high-level relationships within the account, went crazy and started pulling in executive-level contacts to save themselves and override the decision.
And painfully, they were successful.
Think about that. The challenger had a better product, a better price, and the customer's decision. Yet somehow, the incumbent walked away with the business.
That story got me thinking about the strategic selling skills and tools that could have prevented this disaster. Based on experience and some painful lessons from the real world of selling, I'd like to share five insights.
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