Win loss analysis has gained popularity in the last decade and a half. Win loss analysis is a forensic market research activity that centers on deconstructing how enterprises make and sell its products and services from the client’s perspective. The process usually involves performing ample interviews with new clients or lost prospects. The purpose is to gain as much actionable information as possible, combine it and use it to bring forth continuous improvement in the company.
Initiating a win loss analysis program helps organizations determine the perspectives and selection criteria of its potential customers. Additionally, it can help companies and sales executives better understand how its sales approach and techniques were received and perceived. This is especially important in markets where sales cycles are long and intricate and where buying decisions are regularly driven by subjective criteria that go beyond pricing considerations.
A win loss analysis allows organizations to understand its market and its performance. When prospects evaluate an organization’s product, they come in contact with many parts of the organization and its processes. While the outcome of the sale is critical, companies can acquire useful information from both wins and losses.
Dialogue with those who have evaluated an organization’s product can help it better understand how its:
- Product is positioned in the market
- Sales process works
- Product stood up to competitors
A win loss analysis can be utilized to direct future sales efforts, product and service improvements and how to initiate new marketing, pricing and technology strategies.