Wednesday, July 20, 2022
In a recent blog for The Pragmatic Institute, Anova Senior Research Analyst Will Young authored a blog providing information for organizations about the benefits of a win / loss program. Below is an excerpt:
Knowing which of your distinctive competencies are being recognized by the marketplace allows you to adjust your marketing and sales strategies accordingly.
And understanding your customers’ perspectives and what separates you from your competitors is integral to improving your win rate.
To obtain this knowledge, however, you need an effective customer listening tool.
Win/loss programs are essential tools for capturing and understanding the voice of the customer.
When considering the importance of understanding distinctive competencies, there are two main ways a win/loss program can help:
The best win/loss programs collect a mix of both qualitative and quantitative feedback. Each of these questions elicits valuable data about how unique a company’s positioning and offerings are in the marketplace.
Asking open-ended qualitative questions allows companies to understand their customers’ true opinions. Rather than biasing respondents by asking about a company’s postulated differentiators directly, you’ll gain immense value by leaving the related questions more open-ended. A question included in many of Anova’s win/loss programs is:
“What, if anything, did our client do to differentiate itself from the competition during the sales process?”
By leaving this question open-ended, with no prompting and no biasing, the company can be confident that the responses are the prospects’ true top-of-mind opinions.
To read the full blog, click here