How to win a deal after it's already been lost

Some of the best communicators I have ever met are salespeople. And one of the most interesting salespeople I have ever met is Tony Tyson.

Tony is in charge of “closed lost” analysis at a company that sells complex solutions in a crowded market. In a recent interview, Tony told me that he converts about 50 percent of the “closed lost” deals he investigates to “closed won” using the following approach.

You don’t have to be a salesperson to learn from Tony’s approach. It’s about optimism, persistence and a spirit of inquiry.

First principles:

1. Rule number 1: You MUST believe in the product and believe you can win.


2. Keep in mind that you have a fiduciary duty to both yourself and your company


3. Keep your conversations “All about business”

Closed lost analysis

• On your first call, say (Probably by voicemail initially)


• I am working on improving our customer engagement process


• I understand you recently decided not to work with us (or to go with another solution)


• I want to understand how you arrived at your decision


• Did you understand our solution fully?


• I want to understand how my sales reps can improve


• I would like to ask for 5 minutes of your time, to help me understand what happened.


• I am not trying to change your mind, I just want to understand what happened.


• In the live phone call, repeat the above, but you may want to explore the following:


• Maybe the rep didn’t do a good job explaining our solution


• Maybe there was something you missed


• Continue to probe until you are satisfied. It doesn’t surprise me that Tony gets results with such a sincere and customer-oriented approach.

You don't need to take Tony's word for it either. Here's some proof that this works.

Here are some other gems from my interview with Tony:

Prospecting:

1. Set aside one day a week just for cold calls: Make 40 calls that day


2. Knock on every appropriate door in your territory


3. Being aggressive about internal resources is half the game

Dealing with prospects:

• Nobody will give you a dime unless they have a problem that you can solve


• Telling people they can save money is not a way to win. They need to see you as an investment


• If they don’t see the problem, you have to show them. If they don’t see it after one sales call, move on


• If you can solve a problem you should expect them to buy it


• Once you have identified the problem, ask for commitment: “If we can meet your criteria, will you commit to buy our solution?”


• Ask your prospect if they can make the decision.


• If they say yes and you have doubts, ask: “Once you decide to proceed, what happens next?” If they say no, ask who can


• If they say it’s a team, you are talking to the wrong person


• People have to like you and feel comfortable dealing with you. They have to understand you’re not in it for yourself.