Win/Loss Analysis
Problem: Why Do We Win And Why Do We Lose
Often, management doesn't know why they are winning sales, or more importantly, why they are losing sales. Also, they are typically unsure what the customer's opinions are of the company verses the competition, or the strengths and weaknesses of their competitors. This information is critical to developing an effective strategy in a competitive marketplace.
Solution: Win/Loss Analysis
In this project we interview 40 targeted companies in which our client won a deal and 40 targeted companies in which our client lost a deal. We position ourselves to the company as being a third party research firm who is conducting an in-depth survey for a client who wishes to remain anonymous; we assure the interviewees that their names and companies' names will remain confidential. We ask the interviewee questions such as: who was the winner, who was the runner-up, what were the 1-2 compelling reasons you went with the winner, what were the 1-2 primary issues that cost the runner-up the sale, and rankings of buying criteria. We also ask about the strengths and weaknesses of our client verses the competition around issues as products, selling process, support, and post-sales satisfaction. The results are analyzed quantitatively and qualitatively and a final report and presentation are provided. This is approximately a 3-month project.
Specific Results
Upon completion of this analysis for a young software company, the company realized it was, at times, losing to a major competitor because the competitor was positioning its products as having broader functionality than our client's products. This broader functionality is what the market desired. Our client then modified its product positioning, made functional changes to the product, and began selling and marketing this broader functionality. Our client's revenues increased 100% during the next year. The company went public six months later.
General Benefits
Realizing that this information comes directly from customers and prospects, there are many benefits from this study, including:
- Knowing why you are winning and why you are losing.
- Determining the strengths and weaknesses of the competition as perceived by the customer.
- Identifying how you and your competition are positioned in the customer's mind.
- Identifying information to reduce your sales cycle.
- Identifying information to increase your win rate.
