Sorry, But You Lost The Contract

Sorry, But You Lost The Contract

by Sean McPheat

“All of the tenders received have been carefully evaluated and a decision has been reached.

I regret to inform you that you have not been successful on this occasion”

Aghhhh!

A tough message to take.

All of your hard work over the past couple of months in trying to win that contract has come to nothing.

So what do you normally do now?

Well, I have known hundreds of salespeople and many fall into one of two camps.

They either brush it all under the carpet and forget about it or they send a note trying to salvage the situation saying “We can do this” or “You must have misunderstood me during the pitch”

Both of these are not good!

Instead, what you should do is position yourself as a backup vendor with the company.

Just face it – you win some and you lose some.

That goes for MTD too!

In essence, positioning yourself as a secondary supplier for the client sets you up to continue to build a relationship with the client, to someday win their business.

Of the tenders that we have not won, I would say that we have worked for around 40% of the companies that first turned us down!

Why is this?

Well, one reason is that the company may have figured out they chose the wrong supplier, to begin with!

Other reasons can be put down to trying different vendors and giving “someone else a try” or they have heard great things about you since or there is a different decision maker at the helm of the decision!

Companies like choice so always make sure that you are in the ball game when it is time for them to discuss options.

Find out why you lost that particular contract.

Ask them what was important to them?

What did you need to do to win that contract that you did not demonstrate?

Once you get all of these answers, the company has basically told you how they make their buying decisions.

Use this to your advantage for the future by keeping in touch with your contact.

Not overly so, but the odd email or letter every now and again.

Soon, when it is time to enter the ring again you will be the best-positioned vendor to take advantage of all of the knowledge and the relationship that you have built up since that lost contract!

 

Go to our website:   www.ncmalliance.com

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