Win loss analysis is a forensic market research exercise that focuses on de-constructing how companies market and sell their products and services from the prospect’s perspective. The process typically entails conducting extensive telephone interviews with new clients or lost prospects. The goal is to glean as much useful and actionable information as possible, to synthesize it quickly and accurately, and to use it to facilitate continuous improvement across the organization.
During the last 15 years, more and more companies that operate in sophisticated business to business market sectors have been initiating win loss sales analysis programs, either by conducting post-sales debriefs internally or by engaging outside market research firms like Anova Consulting Group. Nevertheless, win loss analysis is a highly specialized brand of market research and fewer than 20 percent of all companies have implemented formal programs.
A win loss sales research and analysis program can help your company understand the perspectives and selection criteria of your prospects. It also can help you understand how your sales approach and techniques were received and perceived, both in an absolute sense and compared to the efforts of your competitors. This is particularly important in markets where sales cycles are long and complex and where purchase decisions are often driven by subjective criteria that transcend pricing considerations.
A win-loss project also can be used to re-engineer your product development, sales support and sales training functions. For instance, win loss analysis survey results and individual interview transcripts can be used as strategic tools to evaluate your products and services and to identify features that are of increasing importance to your prospective clients. They can be used to identify the key messages that resonate with prospects and that frame your value proposition most competitively. Finally, win loss sales analysis results, including raw interview transcripts, can be employed to identify common mistakes your company makes in sales situations and to provide guidance on how to avoid them. In short, the independent and objective strategic intelligence you can derive from a well designed win loss sales program administered by Anova Consulting Group can be used to guide your future sales efforts, your product and service enhancements and how you implement new marketing, pricing and technology strategies.