Do you simply tally up your wins and losses, then look to see whether the trends are going in the right direction? If so, you’re like many other companies. Some will go a little further and ask the sales reps why the sale was lost. Most likely they’ll tell you it was the price or some other failing of your offering.
Those companies, however, that take a systematic approach to win/loss analyses gain a wealth of information. Ultimately, it enables them to improve their relationship with prospects and customers as well as the products, services or solutions that they sell.
Win/loss analysis is the systematic process of interviewing new clients and prospects who fell by the wayside to find out why they chose one path or the other. And that’s precisely the information you need to make steps toward ensuring the right prospects choose the path to becoming one of your customers.
So here’s what you can learn.