Maybe the only thing worse than loosing a sale is giving up on one too early. There is surly an art to knowing when to fold the effort and move on to the next prospect. Stay to long and you waste valuable time; leave too early and you may have lost a sale due to your impatience.
How do you know if I the "No"?? you received was given too preliminary or when you´ve overstayed your welcome? That´s the art.
Michael McLaughlin suggests in his post titled When to Give Up on a Sale that you have three to five sales discussions with a prospective customer before throwing in the towel. Michael gives his full reasoning in the post – here´s an excerpt:
Research shows that a prospective customer´s first opinion of a product is often incorrect, and that it´s not until the third exposure that the customer can fairly evaluate the product´s benefits. Assuming the value of the offering is clear, that´s when the customer´s positive thoughts are most likely to outnumber the negatives.
While every sales situation is different, what rules have you established to govern when you should move on to another prospect?