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Win Loss Analysis and Customer Satisfaction Research
Win Loss Analysis Program Benefits
The ultimate objective of Win Loss Analysis is to increase the rate at which a company wins new business. By making independent Win Loss Analysis a part of the overall marketing and sales process, a company can acquire valuable perspectives on why it’s target prospects buy or reject its products and services; how the company is perceived based on its self-perceptions of its strengths and weaknesses; what aspects of its sales process need to be strengthened; and, how its sales team should be organized and trained to increase its prospects of achieving more consistent success.
On an individual basis, Win-Loss Analysis can also be used as a coaching tool with individual salespeople by giving them access to precise and accurate feedback on how they are doing their jobs. Reading and hearing candid feedback from clients and prospects is invaluable for a salesperson because it enables him or her to make adjustments and calibrate his or her sales techniques to the evolving competitive dynamics of the marketplace. In Anova’s experience, a company’s top salespeople are the biggest promoters of Win-Loss Analysis, because they recognize its power as a tool that enables them to “raise their game”.
Companies that utilize an independent Win Loss Analysis provider also put themselves in a position to gain valuable competitive intelligence. Prospects who have recently undergone a vendor evaluation are at the cutting edge of market trends, competitor offerings, and pricing/promotions. In speaking with the prospect about the context and details of the vendor selection process, a third-party interviewer can learn rich detail on competitors’ offerings and how they are positioning and promoting themselves.
In sophisticated markets, where average sales are large, competition is acute and the difference between winning or losing business can depend on subjective views and opinions of a small group of decision makers, having an independently-managed Win-Loss Analysis program to collect, synthesize, analyze and take action on accurate and timely market intelligence can be the difference between being a market leader or an after-thought.