View your missed deals sorted by reason and the percentage of deals lost for each reason
Understand why you’re losing deals
Once you’ve understood the report, you can take action to lose fewer deals
The Lost Reasons Report is one of the most actionable templates on Actiondesk. It shows all the deals you lost in a given month (or week), sorted by the reason why you lost them.
Let’s say that you sell insurance policies. For every month, you’ll see how many sales you missed for one of the following reasons:
You can see the percentage of deals lost for each reason in an easy-to-understand chart.
If you keep losing deals but don’t know the reason why, how can you fix the problem?
Let’s keep pretending you sell insurance policies. You sell two different policies and the reps are constantly missing sales for one of them. The other, instead, sells just fine.
Let’s say you lose deals for policy A because it’s a sole driver policy, and your target customers like to share their car with family and friends. Policy B is fine because it’s an “any driver” type. But you don’t have the lost reasons report on hand, and therefore don’t know all of this information. You’re completely in the dark about why you’re missing deals.
The next time you create a new policy, you’ll insert a sole driver clause again and keep losing sales. See where is the problem?
The knowledge derived from the report empowers you to limit the number of deals lost. Think about it: If you know exactly what is causing the loss of deals, you can remove that reason, and start selling more.
If the report tells you that you’re losing sales because your product is too expensive, you can try lowering the prices. Maybe you can close a deal with a supplier who can provide you with the raw materials at a lower price. Or, you can introduce specials to increase sales, especially during the peak season.
If you discover that you’re losing deals because of a missing feature, just introduce it and sales will start growing.
After making these changes, you can keep monitoring the report, to see if they were effective and impacted your deal loss rate.