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Departed Client Analysis: Opening Formal Channels of Feedback to Improve Customer Retention

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Do you know the real reasons why your lost customers decided to stop working with your company? Do you understand the unmet needs of your most dissatisfied clients?

When you are part of a senior management team running a large business, it can be easy to become insulated from the day-to-day realities of how your company is handling its customer base. Often, internal customer satisfaction data and lost client information is filtered and distorted as it makes its way up the organizational chain of command, resulting in a less than complete picture of the actual customer experience.

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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.

Win Loss Analysis: A Strategic Imperative

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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.