Sales may initially exhibit fear and resistance to Win/Loss analysis since individual sales people’s performance will be critiqued by customers in ways it hasn’t been, outside of sales management. Others, whose products and services are continually being upgraded, are more likely to appreciate Win/Loss analysis since their marketplace and products are a fast moving target. But, Win/Loss analysis focuses on buyer’s entire decision-making process, most of which is made before they contact sales. Thus, a major objective in Win/Loss analysis is improved lead generation: Find where buyers look and how they are influenced by what they learn before they call sales …so more do connect with sales. What are the strategic benefits that Sales gains from Win/Loss analysis?
- Improved customer retention
- Higher win rates
- Expanded pipelines
- Increased customer spend
- Untapped opportunities with little competition
Here are a few of the tactical benefits for Sales from Win/Loss analysis.
- Better quality leads
- Competitive intelligence
- Silver bullets to win against the competition
- Repurpose Win/Loss data for
- Competitor webinars or podcasts
- Sales tactics workshops
- Sales battle cards
And besides, Win/Loss is not focused on critiquing of individual sales people. Ask general questions such as:
- Why did we win or lose the business?
- What were the gaps in our proposal?
- What did we do well that they value?
- Where can we make improvements?
- What did the competition do well that they value?
- Where can the competition make improvements?
By hearing first-hand why their peers won or lost deals, sales people can replicate successes and avoid costly mistakes that impact their ability to win business. Marketing can also use the success stories to develop case studies to use with customers as proof points on why the customer should choose your company’s solution.
Learn how to build your company’s Win Loss analysis program from my book: Win/Loss Analysis: How to Capture and Keep the Business You Want.