How Win Loss Analysis Helps Understand Buyer Behavior to Convert and Retain New Customers

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How Win Loss Analysis Helps Understand Buyer Behavior to Convert and Retain New Customers

  1. 1. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby How Win Loss Analysis Helps Understand Buyer Behavior to Convert and Retain New Customers A Complimentary Webinar from Aurora WDC 12:00 Noon Eastern /// 4 September 2013 ~ featuring ~ Ellen Naylor Arik Johnson
  2. 2. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Ellen Naylor Ellen Naylor is President of The Business Intelligence Source, now in its 20th year. She started in competitive intelligence by creating a CI operation at Bell Atlantic in 1985, now part of Verizon. She continued her path in CI and forecasting at Northwest Airlines. Ellen is a 23-year member of SCIP (Strategic Competitive Intelligence Professionals) where she won the Catalyst and Fellow awards, and is a prolific author for CI Magazine. Ellen earned her MBA from the Darden Graduate School of Business in Virginia, and her BA at the University of Notre Dame in the second graduating class of women. She was raised in Japan where she still has strong ties. Email: ellen@thebisource.com The Intelligence Collaborative is the online learning and networking community powered by Aurora WDC, our clients, partners and other friends and dedicated to exploring how to apply intelligence methods to solve real- world business problems. Apply for a free 30-day trial membership at http://IntelCollab.com or learn more about Aurora at http://AuroraWDC.com – see you next time!
  3. 3. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby α Use the Questions pane on your GoToWebinar control panel and all questions will be answered in the second half of the hour. α You are welcome to tweet any comments on Twitter where we are monitoring the hashtag #IntelCollab or eavesdrop via http://tweetchat.com/room/IntelCollab α Slides will be available after the webinar for embedding and sharing via http://slideshare.net/IntelCollab α To view the recording and download the PPT file, please register for a trial membership at http://IntelCollab.com. Questions, Commentary & Content
  4. 4. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Agenda ► Process ► Why? Why not? ► Benefits ► How? ► Quantitative Analysis ► Qualitative Results ► Best Practices/not ► References ► Q&A and Discussion
  5. 5. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Win/Loss Process Interview Customers Write up Each Interview Tally Results of All Interviews Disseminate Which Accounts? Connect With SalesCreate Questions Connect with Customers Analyze Results Recommend Improvements Keep a Scoreboard Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  6. 6. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Win-Loss Why Do It? Highest Value Research for Expended Effort Most Accurate Measurement of Positioning Benefits Customer Exalts Vendor in Customer’s Eyes Huge Data/Insight Mining Opportunity Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  7. 7. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Win-Loss Why It Isn’t Done Mythology Prevails Company Thinks They’re Already Doing It Benefits Overlooked Due to Politics Cost No High Level Sponsorship It’s Not for Everyone! Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  8. 8. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Win-Loss Why It Works Understand Buying Process in New Ways Disclose Miscommunications Isolates Sales Team from Knowledge Building Probe Actual Performance of Selected Vendor Advanced Sales Technique Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  9. 9. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Cognitive Dissonance • Social Psychology • Disconnect between One’s Beliefs and Actions Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  10. 10. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Strategic Benefits of Conducting Win-Loss • Increase Profits and Revenues • More Accurate Revenue Forecast • Improve Product or Service Mix • More Timely Product/Service Development • The Right Marketing Alliances • Improved Customer Retention • Early Warning System • Study Trends Against Each Competitor & Take Action Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  11. 11. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Tactical Benefits of Conducting Win-Loss • Find out Why You Really Win: And Keep Doing it! • Find out Why You Really Lose • Isolate results − Product, Geography − Over Time, By Salesperson…….. • Predict Likelihood of Win Versus Loss • Improve Sales Positioning + Practices Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  12. 12. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Tactical Benefits of Conducting Win-Loss • Improve Sales Results: - Systematically Go After Losses - Know When to Walk Away from Business - Follow-up on Wins to Retain Customers Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  13. 13. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Who Benefits? • Senior executives • Sales management, Sales reps • Marketing • Sales training • Engineering/Manufacturing • Product managers/developers • Customer service/Support • Procurement • PR + investor relations • Operations, finance Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  14. 14. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Win-Loss How It’s Ideally Done Systematic, Planned Effort Structured Phone Interview Ideally Conducted by Third Party Sales, Marketing, Product Managers Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  15. 15. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby - Sales Professionalism - Customer Relationship - Positioning - Distribution - Company Image - Financial Stability - Reliability/Quality - Product Capabilities - Product Features - Technology - Price - Delivery/Implementation - Maintenance - Service/Support - Training - Internet (B to B) Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  16. 16. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Organize the Win-Loss Process • Frequency? • Which Accounts? − Strategic? $ Value Political • Who interviews? − Blind or Open? • Culture • Accountability - Actionable • Advanced sales tool Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  17. 17. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby • Win/Loss Reviews: http://amzn.to/15VcD35 • Real-time win/loss • Early warning • By Sales • MANY sales events • Database development • Smartphone APP Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  18. 18. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby • Self critical culture • Designed by Sales for Sales • Win/Loss: Advanced sales skill • Psychological engagement − Sales: Peer to Peer Interaction − Part of sales force automation − Tied to Awards • Account for Sales Bias Why Win/Loss Review Works Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  19. 19. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Work Off Sales Process Case 1 Case 2 Competitors ADP ADP Mega Bank Local CPA Customer Gates Softw are Chrystal Mfg. Profile 1000 emps. Div.of Chrystal Inc. $ 1.5 mil billing $200,000 Situation We're Incumbent CPA Incumbent Merger New CFO Est. Value 5-year deal, I-Net 3-yr term, Q audits Proposition 25% discount New service rep. Our VP: 10% discount Standard + ins. Outcome Loss to Mega Win!! Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  20. 20. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Build Factual Simple Analysis SALESPERSON COMPETITOR TOTAL LOSSES LOSSES DUE TO PRICE Johan B A 20 10 Susan D A 10 9 Pierre Q A 25 5 Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  21. 21. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Results Versus Competitor A #1 Reason Lost Percentage Positioning 15 Technology 30 Pricing 10 Delivery 10 Customer Service 20 Reliability 20 Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  22. 22. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Drill Down Technology Vs Competitor A #1 Reason Lost Percentage File Retrieval 10 Internal Memory 10 Web Access 20 Software Compatibility 10 Ease of File Transfer 40 Storage 10 Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  23. 23. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Trends 60% Win Vs Competitor A Last Year Us Competitor A Pricing We average 10% higher Features 4 4.5 Delivery 5 4.5 Positioning 4.5 4 Product Depth 4 4 Customer Service 4 4.5 5 is highest rating Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  24. 24. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby More Complex Quantitative Analysis Analyzing Decision Making Criteria Vs Your Performance 5 is highest rating Value Parameter Rank in Decision Process Evaluate Actual Performance Delivery 5 3 Implementation 5 2 Support 5 4 Training 4 4 Integration 5 2 Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  25. 25. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Win-Loss Longitudinal Benchmarks: Competitor A Parameter Competitor A Factor Weight Pricing Consistently 6% lower 4.5 Delivery Perceived at parity 3.9 Service Level Agreements Four 9’s, about same 3.7 Feature Mix Slightly better 3.0 Positioning Lower Level 4.8 5 is highest rating Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  26. 26. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Qualitative • Bad customer references • Sales too pushy • Didn’t understand biz • Features • Price • Kid not confident • Tech support upsells • Not integrated • Company confidence • No white papers • Great customer Service • Sales professionalism • Sales positioning • Team integration • Works as promised • Specific features − System stability − Easy system interface • Price, not as often Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  27. 27. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby  Systematic  Interviewers Probe  Analysis is Consistent  Analysis is Distributed  Trends over Time  Analysis Leads to Intelligent Decisions  Results Integrated w/other Programs  Event Driven  Interviewers Survey  Analysis Varies  Analysis is Guarded  Conducted Sporadically  Is too Political  Analysis is Isolated Success Failure Sep 2013 ©Ellen D. Naylor, The Business Intelligence Source
  28. 28. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Win/Loss References From a Good Sales Call to a Great Sales Call http://amzn.to/18B5WRc Author: Richard Schroder Articles from SCIP’s CI Magazine: • Win/Loss Analysis: The Cooperative Angle: bit.ly/17L07Wh • Increasing Sales Through Win/Loss Analysis: http://bit.ly/17L0EaE • Capture Competitive Intelligence thru Sales: bit.ly/1dE8Uvs • How to Draw Customers into the Win/Loss Process: bit.ly/19g13PL Get a free list of over 140 competitive intelligence books here Ellen Naylor: +1.303.838.4545 ellen@thebisource.com www.thebisource.com http://cooperativeintelligenceblog.com http://twitter.com/EllenNaylor www.linkedin.com/in/ellennaylorcolorado
  29. 29. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Poweredby Ellen Naylor Thank you! Now how about a little Q&A? Email: ellen@thebisource.com Twitter: @ellennaylor The Intelligence Collaborative is the online learning and networking community powered by Aurora WDC, our clients, partners and other friends and dedicated to exploring how to apply intelligence methods to solve real- world business problems. Apply for a free 30-day trial membership at http://IntelCollab.com or learn more about Aurora at http://AuroraWDC.com – see you next time!

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