Win Loss Analysis Sales Issues

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Win Loss Analysis:

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The Psychology of Selling

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Win Loss Analysis Common Sales Issues

Though every Win-Loss Analysis program is uniquely focused on the sales activities of an individual company, there are common themes that emerge from programs across various companies and industries. Anova Consulting Group has conducted thousands of Win-Loss interviews in a number of different vertical markets; this Win-Loss research has consistently uncovered 4 key pitfalls that kill deals:

1. Inability to build rapport: In sales as in other aspects of life, first impressions are critical. A lack of chemistry between a salesperson and the prospect can lose a sale before the process even formally starts. Perceived arrogance or pushiness from a salesperson can make a prospect feel that their business is being taken for granted. Sales teams must consistently convey to prospects that their business is, and will be, important and valued – not just the source of their next commission check. Salespeople should not leave rapport up to chance; rapport-building is a skill that can be tracked and honed using Win-Loss Analysis.

2. Not addressing prospect’s unique needs / not customizing pitch: Identifying and addressing prospect needs during the presentation are of paramount importance in the sales process. Failing to take a consultative approach and establish a dialogue in order to understand their goals and objectives is a major turn-off for many sales prospects and can result in a sales team emphasizing the wrong benefits and features of a company’s offering. This type of early miscommunication immediately conveys to a prospect that the sales team, and therefore the company it represents, is out of sync with their needs. Simply learning a prospect’s needs is not enough if this information is not used to customize the pitch to directly address them. A presentation that is perceived as “canned” or “off the shelf” is a frequent way in which salespeople lose deals.

3. Inability to differentiate: In a competitive environment, standing out from the crowd is critical. If salespeople are unable to clearly articulate how their offerings are different from those of competitors, prospects have little reason to leave their existing solution, or the sales process can become a race to the bottom focused solely on price. In “bakeoff” sales situations, failure to differentiate is a leading cause of lost sales.

4. Not selling to the Decision Maker: Qualifying prospects is a critical step in the sales process. Great rapport, a customized pitch, and plenty of differentiation do not matter if a salesperson is selling to the wrong person. If the decision-maker is not on board, the sale cannot be closed.

For a company that is focused on establishing a formal process for becoming more competitive, Win-Loss Analysis can provide the necessary mirror for self-assessment and improvement, and ultimately lead to a higher win rate.

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