You've done your homework, dressed to impress, and delivered a compelling presentation to score new clients. You were so sure it's going to be your biggest milestone yet. They said they'll keep in touch to follow up with the deal, and you can't help but feel optimistic.
But after a couple of days waiting for the phone to ring, it finally sinks in: your sales pitch failed. Instead of getting all frustrated about this fiascoâ€”it happens to all entrepreneurs, don't worryâ€”rise up to the challenge! Here are five productive alternatives to sulking in a corner after a failed pitch.
Investigate why your pitch didn't work.
There could be a hundred reasons why your clients aren't pleased. One little hiccup, a missing detail, or even a tiny piece of incorrect data can cost you your credibility. You might have said something your potential clients didn't like. Or your offer simply doesn't match what they need right now. But until you find out why they're not satisfied, you're stuck.
Ultimately, a failed sales pitch boils down to these three umbrella causes:
â— insufficient research
â— ineffective presentation
â— weak client relations
The sooner you pinpoint the root cause, the sooner you can patch things up and make them right.
1. Do follow up!
We understandâ€”it does seem scary and intimidating. How can it not be?
But all successful entrepreneurs will tell you one thing: in the realm of business, there's simply no room for pessimism or hesitation. At this point, you have to admit that you need your clients. And so, there's no excuse to delay that imminent, much Âneeded follow up call. So, dial them up, ask how their day went, and smoothly discuss your previous meeting. Who knows, this phone call might be the only thing standing in your way.
2. Reviseâ€”then send again.
Let's go back briefly to point number 1 above. You've identified the culprit, right? Congratulations! This means you're ready to improve your original sales pitch. And this is very good news. After repackaging the presentation and perhaps adding in better offers, it's time to revisit your leads. ReÂsending it through email would be ideal. Just pay close attention to your subject and introductory lines to get your message through. Of course, a phone call to inform them you've re-sent the pitch will also work wonders.
3. Move on to another lead.
If nothing else works, the problem may not be you. Sometimes, clients decline because they have to. Meaning, you're pitching to the wrong people. When this mismatch happens, the next smart move is to nurture your other leads. Don't worry about the extra effort you need to rewrite your presentation: just do the work. After all, it's a more fruitful option than chasing lost causes.
4. Don't burn bridges.
Even if your potential partnership doesn't come to fruition, you still have to end things in a friendly and cordial manner. You never know when an opportunity with your previous networks will arise again. So, don't hold grudges and leave the door open for future possibilities! Remember that being an entrepreneur is no easy journey. But if you face every hurdle with resilience, believe us when we say nothing can get in your way!