Sandler Brief: When All Else Fails, Become a Consultant

When you know you’ve lost the business, what do you usually do?

We have all been in that position. We thought we had something. The deal fell through. We know it’s over. The buyer made a decision. We have to say something. The question is, what? There should be a go-to move in this situation, something we do consistently, as part of a process. So: Does that go-to move exist?

You may be tempted to say something like this: “What if I found a way to lower the price for you?”

That is the go-to move we see from a lot of salespeople. They try to turn around the buyer’s decision by making the price so low they can’t possibly say no! But that’s not the move we recommend.

Why not? Well, think about it. Even if you can find a way to lower the price at this point, there is a problem: you will destroy your credibility once you do. Up to that point, you have been saying that you have offered the right price, the best price you can give. Now you are going to pretend that didn’t happen?

Let’s flip the roles. If somebody comes to you at the very end of the sales process, after you've said “No,” and then offers a fifty percent discount, how do you feel? You won’t trust anything they say from that point forward, because they’ve already told you multiple times that the price they originally offered was the best they could do!

Here’s our advice. Don’t try to resuscitate the deal by slashing the price. Don’t try to resuscitate the deal at all. Play the long game. Become a consultant. Next time someone tells you it’s over, try saying something like this:

“I understand. I hope you and I have the chance to revisit this in the future . . . but now that it's over, may I take off my sales hat and just be a consultant for a moment?”

The other person will respond in the affirmative. You can then continue along the following lines:

“I have worked with a lot of your counterparts over the last few (months/years/decades). I have been in front of (dozens/hundreds/thousands) of organizations like yours, and I feel I wouldn’t be doing my job if I didn’t take a moment to tell you what I think you are likely to be facing over the next few (weeks/months/years). That way, at least, you may be able to see what is coming -- and who knows, there may be an opportunity for us to talk in the future.”

Then tell them what you see on the horizon and deliver some value without getting a check for sharing your expertise. This is when you want to be a consultant -- not at the very beginning of the sales process. Give them a taste of what it would be like to work with you should the deal fall through -- and plant the seed for future discussions.

Maybe they will listen to what you have to say. Maybe they won’t. However, you will retain your credibility, get a confidence boost by talking about problems you can solve, and lay the groundwork for a business relationship in the future. You know what else? Every once in a while, you will manage to turn that “No” into a “Yes” . . . but not by shredding your margins and undercutting all the work you did. You will do it by demonstrating, in a compelling way, what type of professional you are and the kind of value you deliver.

So when you run out of options and the buyer tells you it’s all over, don’t panic. Don’t offer to slash the price. Move into consultant mode!