You may believe a win-loss analysis, analyzing why one sales effort won the business and another did not, could be a powerful tool to help you build a stronger business, but how do you get started? First, talk with your salespeople to gather background information. For example, make sure you understand:
Why did you lose…or win…that sale?
What if you could peak under the covers of a lost sale and discover exactly what went wrong? Or perhaps you’d like to know exactly what gave your company the competitive edge in the sales you won. That information would be powerful in developing a strategy to ramp up remarkable sales results.
That’s why I believe in conducting win/loss sales analysis--analyzing why one sales effort won the client over and another did not. You compile data about your buyers’ perceptions of each step in the sales cycle—the marketing messaging, your product or service offering versus the competition, the proposal, the pricing, and more. Then you dissect the data to gain deep insights to what’s working and what’s not and develop a formula for success.