It can be annoying and frustrating when a prospective customer decides not to buy from you. It is also a great opportunity to get some feedback which you can use to grow your business though, so do not let it go to waste!
A phone call is often the most effective way to get feedback, although e-mail works as well. Try these simple steps:
Thank them for their feedback, explain that you will use it to improve your business and ask if they will bear you in mind for the future.
Most of the feedback should be easy to understand and implement changes, but the cost objection needs further investigation. If they have not found someone else to do the work, it is likely that it was just a general enquiry. It may mean though, that the way you promote your product or service needs to be reviewed. Usually, a cost objection is caused by 1 of 3 things:
If you send quotations or proposals to prospective customers, try this simple template we use. Our conversion rate is over 90%.
Section 1 – Background
Thank you for your enquiry about XXXXX. From our conversation I understand that you are looking to XXXXXX and that your main concerns are XXXXXXXXX.
Section 2 – Summary of my proposal
This will make sure that xxxxxxxxxxxxxxxxx.
The total cost is £x plus VAT, total £x.
I will call you in the next few days to answer any queries you have, but please do not hesitate to call in the meantime.
Section 3 – Details
List each element, what you will do, why it is important and what they need to do if anything
Section 4 – your expert
A brief biog if required of the person/people who will carry out the work.
If you have an accountant, they should be your first stop for business advice. If you don’t have an accountant or they can’t help, BuBul has a wide range of experts available. For more business advice why not follow BuBul on LinkedIn?