SPOTIO Tips & Tricks: Adding Lost Reasons

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In this article we discuss why you should add Lost Reasons to your Lost Stage, as well as  how to set-up, manage, and edit those reasons.

Simply marking a potential opportunity as lost should not be the final step. You need to add a note so that you or another rep can have context around the lost reason for reference down the road, because chances are it’s not lost forever. 

You never know if you will need to re-engage with a lost opportunity, so taking the extra minute to add a note will not only make prospecting easier in the future, it will keep you organized and efficient. 

Three Key Benefits:

  1. Adding context around why a deal was lost is imperative to keep your team on the same page
  2. Reminds you what happened with the deal
  3. You can run reports and pull all lost deals around specific reasons for future outreach

An Example of the power of being able to filter based off reason type

You may have spoken with a prospect but they felt pricing was too high. But now you may be in luck at capturing their business because you’re running a pricing special. Because you added “lost to due pricing” for the lost reason, you can now quickly pull up any prospective accounts that failed to convert due to pricing and re-engage with them. 

How to Add, Remove or Edit Lost Reasons

Add a Reason

Click on ‘add reason’ to enter the edit mode. Then enter the title of your new lost reason (this can be anything you want it to be). Make sure you click the plus sign and then ‘save’.

Remove a Reason

Click on ‘add reason’ to enter the edit mode. Find the ‘X’ beside bad timing and click on ‘save’. You can also change the order of your loss reasons. If you know that one is more common than another, click on add reason.

Edit a Reason

To enter the edit mode, use your mouse to grab the three lines icon and move your reason up or down. Remember to click ‘save’.

Now you know how to add, remove, or edit loss reasons from the last stage.

See in Action:

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Questions or comments? Contact SPOTIO at info@spotio.com or comment below.

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