TheColdestColdCall

Enterprise Account Executive

Valued Contributor

"Closed Lost" Rant

I've noticed in my short tenure as an AE that while some losses are more painful than others, in the end. A loss is a loss.

We recently just lost a deal and it's one of those deals that there really wasn't anything we could've done differently.

Of course, hindsight is 20/20 but even this close to he decision I can't help but feel that there was honestly nothing we could've done differently because if your prospect team doesn't level with you, or if they aren't honest, then there isn't any amount of maneuvering you can do to win or recapture a loss.

The short of it was that we ran a very enthusiastic and highly competitive cycle. I was close to my coach so that we could win over the VP and address his concerns before he presented the recommended solution to the CFO. From the get-go I highlighted we would be the premium solution with a premium price. We negotiated to get it within a competitive standpoint, and addressed the VPs concerns with a platform solution and they enthusiastically gave us the guidance they would recommend our solution as the vendor of choice. They said the CFO review was more of a formality and I was told the VP had authority to sign/accept after making the recommendation.

Despite this, the CFO said "no deliberation, cheapest option" and we we're able to revisit our proposal/scope and get within a few thousand of our competitor. We consulted the VP on the decision and were able to push a more aggressive incentive package and reduce our scope slightly to get us there, and guess what... "We're going to continue on with our original decision and go in a different direction." (What does that even mean?)

Generally just frustrated we spent time on all these points, and in the end the reason we thought we were going to lose the deal doesn't seem to be the reason we lost anyway. I have a note out for feedback to understand more clearly the reason why we lost despite meeting them on commercial terms.

In the end, a loss is a loss like I said and I'm not sure there is much reason in dwelling on it any further but it's challenging to not know the real answer and to be given ambiguity as a parting gift.

And here I thought taking the month off drinking would help my emotions stabilize lol

15

24 comments

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jefe

Arsonist

5

🍁

Let it all out.

We've all been there. But when you do everything right it's even more of a shitty feeling.

Breathe, take a walk, and on to the next one.

TheColdestColdCall

Executive

2

Enterprise Account Executive

Stings a bit, but yeah I know I need to walk away from this and get back to the other deals I'm driving to close. Bigger fish to fry as they say.

BigShrimpin

Catalyst

3

Account executive

you kind of spelled it out in the post you came down in price and scope your competitor changed nothing so from the CFO perspective youre still more expensive even if by a few thousand on top of offering less
the only thing you could've done differently is found out the CFO is a cheapskate in the beginning, it sucks losing on price in b2b but many see only the number on the budget line especially in the current market

TheColdestColdCall

Executive

1

Enterprise Account Executive

I agree, I mean the reality is we know we would've provided the same "functionality" on a better technology. It's just difficult to preach that point when you're guarded from the Executive Buyer. It appears the guidance from our buyer team was either deeply over promised or they're something we don't know. Either way, each one of these hard-fought losses helps me learn a bit more.

DataCorrupter

Politicker

0

Account Executive

I hate to say, but it could also be that your buyer team didn't know either. They guarded you from VP/CFO because they don't know how to talk to them either or how they'll react. Doing these deals really exposes the nuances of people's relationships in these enterprises. Your VP may have said, yeah we can do premium, then gone to the CFO who said no, and maybe they're not cool/friends like that, so the VPs hands feel tied. Something I've learned the last few years or so is that you can do tons of discovery upfront and throughout the process, but shit like that you just can't plan for.
It's not your fault, homie.

BigShrimpin

Catalyst

1

Account executive

You can always try and qualify out upfront on price e.g "one of the reasons people don't work with us is because we're premium in the market and you can expect to invest $x-$x on this. Assuming we can solve your problems and you want to work with us will that cost be an issue?" Not guaranteed to work but can let you pull it out early if its a problem

Armageddon

Opinionated

3

Enterprise Account Executive

Thats a tough pill to swallow. They will come back around. In the end, Value > Discounts. Stay with it and stay in front of the account, next time double down on your products value during the cycle to help the customer realize the ROI

TheColdestColdCall

Executive

2

Enterprise Account Executive

We've seen these competitors ripped/replaced after failed deployments and low-use all the time.

Looking forward to the "yeah, we made the wrong choice" email a year or two from now or least a guy can hope haha

oldcloser

Arsonist

3

💀

In a different macroeconomic world, this just as easily could have gone your way. May their epiphany find you swiftly. It does happen.
Sorry, man. This blows.

TheColdestColdCall

Executive

4

Enterprise Account Executive

I'll admit that I just got word on one of my other EOY deals that the CFO is presenting the contracts to Legal today for review and likely signatures today or tomorrow so consider the loss absolved haha

oldcloser

Arsonist

3

💀

The cycles that cycle us... post that bad boy when it lands.

FeelItInMyPlums

Valued Contributor

3

Sales Account Executive

Cash is king! The takeaway from this deal should be making sure you understand early that the economic buyer in this case is the CFO. The fact that you got that far along only to get veto'd meant you should have pulled out way earlier (ha).

CuriousFox

WR Officer

2

🦊

Where the fuck u been

FeelItInMyPlums

Valued Contributor

1

Sales Account Executive

Dying a little more inside every day :D. Left my gig of 7 years (6 100%'s and 3 club trips) to take a stab at the startup life again right before covid started......didnt work out. Now I got 2 kids and little to no time for Bravado!
Having a shit week at work - so decided to pop back into the war room to right my head!

CuriousFox

WR Officer

0

🦊

We ❤ you bb

HVACexpert

Politicker

2

sales engineer

Can’t dwell on it. It’s ok to be disappointed , and this definitely sucks.

Time to move on and close the next one.

Let’s fucking go!

Revenue_Rambo

Politicker

2

Director, Revenue Enablement

CFOs are typically hard focused on 2 metrics: Revenue and Cost. If you’re going to be more expensive you’d better be driving significantly more revenue.

TheColdestColdCall

Executive

1

Enterprise Account Executive

This is precise. Unfortunately we (I) didn't drive enough of a request to present to the CFO where we could've defended our higher cost (even after coming down significantly)

Revenue_Rambo

Politicker

0

Director, Revenue Enablement

What’s also true is that you get what you pay for. As they will probably find out.

Glad to see you’re already onto the next one and looking forward to you posting that win story soon.

Sunbunny31

Politicker

1

Sr Sales Executive 🐰

Losses sting!
Sometimes you cannot keep your prospects from making the wrong decision. I lost one for dumb reasons last year...and will expect them back in a year or so. Hopefully the wiser for the bad experience we all know they are having.

Justatitle

Big Shot

1

Account Executive

Nothing you can do here, don't lose sleep on it.

AnchorPoint

Politicker

1

Business Coach

Celebrate what you did right, understand what you learned, apply the learns to the future.

Kosta_Konfucius

Politicker

0

Sales Rep

Damn sorry to hear that

salesprof12

Contributor

0

Account Executive

Sometimes the only thing that matters is price.
Folks can’t justify the higher price.

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