Win Loss Analysis: A Strategic Imperative
The first question salespeople ask themselves when they lose in a new business situation is, “Why did I lose?” Salespeople often ask prospects why they lost a deal, but they don’t typically get a straight answer. In fact, according to sales research data, the complete truth from prospects is shared only 40 percent of the time. This means that on average, in 60% of new business situations, salespeople do not have a complete and accurate understanding of why they lost.
Understanding why a deal is won or lost is critical, yet most sales teams and companies have a limited understanding of the true reasons for winning and losing. Clearly there is a significant opportunity for many companies to improve their close rates by better understanding prospect perceptions.
Hi there! This article is available for free. Login or register as a StrategyDriven Personal Business Advisor Self-Guided Client by:
Subscribing to the Self Guided Program - It's Free!
About the Author
Richard Schroder is president of Anova Consulting Group, a leading market research and consulting firm focused on Win Loss Analysis and Client Satisfaction Research. He is a sought-after speaker and a recognized thought leader in Win Loss Analysis. He is the author of a new book, From a Good Sales Call to a Great Sales Call (McGraw-Hill, 2011). To read Richard’s complete biography, click here.
Learn more about the Anova Consulting Group at www.TheAnovaGroup.com.
excellent article. The client is not always comfortable giving out the info as to why they chose a competitor especially if part of the reason was the sales person. It is better for a 3rd party or someone else from the company to ask the questions. I also find it useful to ask specific questions and not just ‘why did we loose the sale”