Rejection is important in business as it can help you identify improvement opportunities in your selling strategies. But as important as it is, getting rejected can hurt, especially when you have received several rejections. Most entrepreneurs get discouraged with “NO” as a response from their client and may be inclined to give up on their newly developed product or service. It is preferable for business owners to keep their emotions out of their company and to realize that it is okay if customers reject their products.
While you cannot influence the choice or interest of a prospect in your goods, you can however, influence how you respond to it.
Rather, decide to take a lesson from each rejection. Don’t let one unfavorable comment deter you from selling to the next client. Find out why they declined, as that is what you can do.
In order to find out what the consumer needs or why they aren’t currently interested in the products, many associates use inquiries in their selling technique. Your firm may have improvement opportunities as a result of the trends you can spot in its products or services thanks to this feedback.
The foundation of your ideal customer profile is understanding why a potential customer chooses to buy from you or not; this will help you with your marketing efforts and increase sales. If you’re serious about succeeding in business development, you need to start considering how you may use your rejections to your advantage and move closer to your objectives. Here are some ideas to consider:
- Rejection can build bridges for the future:
If you’re sad that a prospect chose a rival over you for a retainer because you firmly believe that your agency was the best fit, cheer up. If it’s as good a match as you think it is, they will return to you in the future.
If you take advantage of this chance to demonstrate that you weren’t just playing to win and that you achieved your goals, you’ll be at the top of the list the next time the client offers another opportunity. Don’t take rejections like this personally; they might actually help you create relationships with prospects.
- Rejections can present chances:
One thing that softens the blow of rejection is that things move incredibly fast, meaning a rejection can easily turn around into a contract just when you least expect it!
For this reason, it’s important to keep those prospects who’ve turned you down this time round nice and warm (and easily searchable in your database!) so you can go back to them when the time is right.
- Rejections challenge you to up your game:
Rejection conjures up emotional energy that will undoubdtedly be negative initially, but the good news is you can recycle this energy boost into positive motivation for the next challenge.
Think of it like getting an unexpected ‘F’ in an exam when you know you’re a straight-A student, our rejections can give us the motivation we need to push ourselves to the very best of our ability. So take that rejection, accept it as a challenge, and you’re sure to increase your billing as a result!