Rejection is one of the toughest things for a person to deal with in life, much less in business. However, in order for a sales professional to be successful, they must learn how to deal with this unpleasant feeling like a pro. Let’s discuss some effective techniques for coping with rejection, and learning from your mistakes.
Rejection is Inevitable
Sales is a sport that’s based around having more losses than wins. In this career path, you’re meeting with business owners who have no idea who you are, and your ultimate goal is to get them to sign a contract with you. It’s no simple task to convince a stranger to trust and invest in you, so sales agents will receive a lot of rejections. If you talk to 30 businesses and you receive two or three interested parties, it typically means that you’re doing a good job. In the beginning stages of your career, you will receive a significant number of rejections in comparison to your sales, but as you refine your pitch, this number will improve. Even the most successful agents started out exactly where you are, so it’s important to keep pushing yourself to improve.
Dig a Little Deeper
One of the most common mistakes for new sales agents is getting a “no” and leaving it at that. This is not an atmosphere where you can take that first rejection and call it a day. If a merchant says they’re not interested, this is the point where you need to dig a little deeper into their needs and motivations. In a respectful way, you should ask them directly why they aren’t interested and if there’s anything you can do for them. Their reason might be as simple as they’ve just switched payment providers, and they’re content with their current service. On the other hand, they might have spoken to multiple sales agents in the past few months and when they performed a rate analysis, they didn’t see any major savings. With this information, you can tailor your pitch more closely to their unique needs.
Make a Friend
There are always going to be hard sells that you can’t land, but these shouldn’t be seen as losses. When you get a firm rejection, take this as an opportunity to learn, make a friend, and grow your network. Make sure to give them your card and let them know that if anything changes, you’re here to assist them. Additionally, you should throw them on the FlashBanc referral program where for every business they refer, they receive a gift card for $50. If a particular merchant isn’t ready to take advantage of our offerings, they probably have a professional connection who is ready. Plus, almost 10 times out of 10, that merchant will come back and sign up with you at some point down the road.
Need Some Help?
If you’re struggling to land sales, make sure to contact your sales director for guidance. Remember, becoming a successful sales agent doesn’t happen overnight, so it’s vital to seek help when you need it and give yourself time to grow.