Latest / Sales Leadership with Fexingo: Quota Carriers, Sales Managers, and Revenue Teams / How Sales Reps Can Turn a No Into a Yes
Transcript
- Lucas: You've been pitching a deal for weeks. The prospect seems engaged, you've had multiple calls, they've done a demo. Then the email lands: 'We've decided to go in a different direction.' Luna: The classic 'we'll keep you in mind' brush-off. Most reps just respond with 'thanks for your time' and move on. Lucas: Right. And that's exactly where they leave money on the table. Because that 'no' is rarely a real no. It's a symptom. Luna: I think I know where you're going with this. Are we talking about the exit interview approach? Lucas: Exactly. The idea is simple: instead of accepting a rejection as final, you ask one specific question designed to surface the real objection. And I've seen this reopen deals that looked completely dead. Luna: Before we go deeper — quick honest thing. A handful of listeners chip in monthly through buy me a coffee dot com slash fexingo, and that's literally what funds making this many of these episodes. If these conversations have helped you handle a tough call or win a deal, that's where it comes from. Lucas: Yeah, we keep it ad-free exactly because of that. It's a small group, but they make it possible. So if you've gotten value from the show, that's the way to keep it going. Luna: Alright, back to the 'no.' So what's the magic question? Lucas: It's not magic, but it's calibrated. You ask: 'Help me understand — if you had said yes, what would have been the biggest risk you were taking?' Luna: That's good. It reframes the rejection as a risk assessment instead of a rejection of value. Lucas: Exactly. The typical response is something like: 'Well, we've never used a solution like yours before, and if it didn't work, we'd be stuck with a long integration.' Or: 'We're worried about vendor lock-in.' Suddenly you're not arguing about price anymore. Luna: So you're surfacing an unspoken concern. The prospect says no because it's easier than explaining the real fear. Lucas: Right. I saw this work with a cybersecurity software deal. The rep had been going back and forth on pricing for weeks. The buyer finally said no. So the rep asked that exact question. The buyer admitted their real worry was that switching vendors would cause a three-day integration outage, and their board would never approve that risk. Luna: That's a completely different problem than price. So the rep pivoted? Lucas: He did. He offered a phased rollout — start with one division, zero downtime. The buyer went back to the board, got approval, and the deal closed at full price. The 'no' on price was really a 'no' on risk. Luna: But this only works if you have a relationship with the prospect that allows that honest conversation. If it's a cold outbound call that gets rejected, you can't ask that. Lucas: True. The exit interview technique is for deals where you've already invested time. Typically after a demo or a proposal. For early-stage rejections, a different approach works better. Luna: What's that? Lucas: A short email or voicemail: 'I respect your decision. If you ever reconsider, I'd love to understand what changed your thinking.' That keeps the door open without pressure. Luna: So you're planting a seed. I've seen that work — sometimes months later the prospect circles back because the alternative vendor fell through. Lucas: Exactly. But let's focus on the exit interview for a moment. There's real psychology behind why it works. When a prospect says no, they've already mentally closed the door. But if you ask about the risk, you're reframing their thinking from 'I rejected this' to 'what was I afraid of?' Luna: That activates loss aversion. They start thinking about what they might lose by not buying — which is the opposite of what they were thinking before. Lucas: Right. And there's a sunk cost element too. They've already spent time evaluating you. If they walk away, that time is wasted. By asking the question, you're giving them a chance to salvage that investment. Luna: So it's a mental jujitsu move. You're using their own cognitive biases to flip the script. Lucas: Exactly. But there's a risk. If you ask the question wrong, you sound desperate or pushy. The key is tone — genuinely curious, not interrogative. Luna: What's the wrong way to ask it? 'Why not?' sounds aggressive. Lucas: Exactly. Don't ask 'why.' That puts them on the defensive. Ask 'help me understand' — it's a collaborative frame. You're inviting them to explain, not justify. Luna: I've also heard reps use: 'If you could change one thing about our proposal, what would it be?' That's similar but focuses on the offer, not the risk. Lucas: That's a good variation, especially when the objection is about features or fit. The risk question works better when you suspect the objection is emotional or political. Luna: So how do you know which one to use? Lucas: It comes down to the signals you've picked up during the sales process. If they've been focused on price, the risk question uncovers if price is a smokescreen. If they've been asking about functionality, the 'change one thing' question is better. Luna: Let's talk about when it doesn't work. What's the failure mode? Lucas: Sometimes the 'no' is genuine. The prospect has a better alternative, the budget truly got cut, or the decision maker changed. In those cases, pushing further damages the relationship. Luna: So you need a filter. What's the tell that it's a real no vs. a soft no? Lucas: A real no is usually accompanied by specifics: 'We've chosen a competitor,' 'Our CFO froze all new vendor spending,' 'We're going with an internal solution.' A soft no is vague: 'Not the right time,' 'We're going in a different direction.' Luna: Vague = opportunity. Specific = move on. That's a good rule of thumb. Lucas: Exactly. And if you do get a specific reason, you can still use the exit interview — but now you're not trying to reopen the deal. You're gathering intelligence for next time. Luna: So even if you can't win that deal, you can learn why you lost and improve your pitch. That's valuable. Lucas: Absolutely. I've seen reps turn a lost deal into a case study that helped them win the next five. The key is to ask without ego: 'What could we have done better?' Luna: That's the coaching version of the exit interview. It's not about selling — it's about learning. Lucas: Right. And that's the mindset shift I want listeners to take away. A 'no' is not a full stop. It's a comma. It's an invitation to ask one more question. Luna: We should also mention timing. How soon after the rejection do you ask? Lucas: Within 24 hours. Any longer and the emotional distance grows. They've moved on mentally. The sooner you ask, the more they're still in the decision frame of mind. Luna: And which channel? Email, phone, in-person? Lucas: Phone is best — it's more personal and you can adjust tone. But if the rejection came via email, a follow-up email with the question works too. Just keep it short. Luna: Let me give listeners a concrete script. So after a rejection email, you reply: 'Thanks for letting me know. If you're open to it, I'd love to understand one thing: if you had gone with us, what was the biggest risk you were worried about?' Lucas: That's perfect. Short, respectful, and it opens the door. And if they answer honestly, you have a second chance. If they don't reply, you haven't lost anything. Luna: I want to test this against a common objection: 'We don't have the budget.' How does the risk question help there? Lucas: In that case, the risk isn't about money — it's about the opportunity cost. They're worried that spending on you means not spending on something else. So you ask: 'If budget weren't an issue, what would be the risk of moving forward?' Luna: Okay, that shifts it from price to value. I can see how that might reveal that the real blocker is a lack of internal champion or a competing priority. Lucas: Exactly. And once you know that, you can help them build a business case or find a sponsor. You become a partner, not a vendor. Luna: There's a flip side to this. Some reps use the exit interview as a crutch — they ask it on every lost deal but never improve their pitch. The technique is only as good as the learning you take from it. Lucas: That's a great point. The exit interview should feed back into your sales process. If you keep hearing the same risk, you need to address it proactively in your discovery. Luna: So the goal is to reduce the number of times you need to use it. Eventually, you're handling objections before they become deal-killers. Lucas: Right. The best reps I know have a 'no' that turns into a 'yes' about 20 percent of the time. But the real win is the 80 percent where they learn something that makes them better. Luna: Twenty percent is huge. If you lose ten deals a quarter, that's two extra wins just from asking one question. Lucas: Exactly. And the best part is, it doesn't cost anything. Just a few minutes of discomfort asking a question most people are afraid to ask. Luna: Alright, let's wrap with a challenge for listeners. Next time you get a rejection, resist the urge to move on. Send that one follow-up. See what happens. Lucas: And if you get a response, let us know. We'd love to share your story in a future episode.