Closing and Losing Sales | A Closer Look As We Prepare for 2013

As we delve into Summer with Fall right around the corner, it is a good time to take a look back  in order to look forward, plan appropriately and make good decisions regarding our sales efforts. Although we are seeing some positive movement in special event sales, we have to remain sharp with a clear sales strategy and be smart about our position moving forward.

A great start to this type of thinking is to take a two-pronged approach. First, look at all of the sales you closed (or booked) in 2012 (so far). See where they came from, the length of time it took to close, if it was a result of a current relationship or as a result of some type of advertising or pro-active promotion you generated. Keep great records of all sources of business and associated costs. Focus on the advertising and activities that produced the greatest results (magnify these efforts for best results) and improve upon or eliminate the ones that did not produce. Ensure that your advertising is targeting the correct market that you are looking to attract.

Next, take a look at all the business you did not close in 2012 - the ones that got away. Do you know exactly why someone chose a competitor over you? Keeping good, meticulous "lost business" records can teach you a lot going forward about how to close more business. Reasons varying from "better product", "product or service did not suit our needs", "felt more comfortable with the competitor's sales person", "better customer service", "better pricing" or "more professional sales person" can help you to spot trends, make adjustments to products, services and presentation styles. Knowing what your competition offers and does not offer affords you the opportunity to market yourself on how you stand out from the rest. Keep current tabs on your competition and your lost business and you will start to unlock the key to keeping and closing more business.

Most importantly, take the time to analyze all of the information you have collected. Use it to create future marketing programming, decisions on where to spend advertising dollars and decisions on how to invest your capital dollars (what should you be spending money on that will produce the best return on investment). Being proactive in this approach will ensure that you are actively managing your business, not just reacting to a changing market.


Article by: Lynne LaFond DeLuca, Sr. Vice President Beverly Clark Hospitality Training Program