Hi. Welcome back.
Today we're going to discuss one of the most useful techniques to increase sales,
reduce costs, and recognize and fix errors that are leading you to lose sales.
Today we're going to talk about the Win Loss Analysis.
One of the main problems facing executives when working on sales strategy is
to determine the quickest ways to adjust their sales strategies and execution.
After they used the analytical techniques that I have shown so far,
they still lose some of the businesses.
They review their analysis and it all seems very sound from their perspective.
Sometimes, this is exactly the problem.
What they need is to see the problem from the client's perspective.
That is where Win Loss Analysis becomes important.
The sales team develop a strategy from the perspective of sales,
which is different from the buyer's perspective.
The only way to know what the buyers think is to ask.
The technique is relatively simple,
but requires the commitment of top management and
their real interest in perfecting the operations of the company.
It is an exercise in empathy and humility,
but has generated spectacular results.
The main input for this analysis is
the perception of the clients involved in the campaigns to be analyzed.
It is important to have a sample that has both positive and negative results.
Whenever possible, the interviewer should not be a part of the sales effort.
People involved in the campaign may become emotionally involved,
and most clients will not give
a complete and objective answer on why
the company lost on one in specific sales campaign.
Someone not attached to sales or someone from the outside,
a consultant perhaps, often have better results.
The process is relatively simple.
First, we choose the segment and the customers we want to analyze.
It is important to interview a sufficient number of companies to
allow the identification of trends and patterns.
Second, organize a questionnaire that allows
the interviewee to share their experiences in an open and complete way.
Third, prepare for interviews.
It is important to study the company from
a strategic point of view and know the result of the campaign.
Some interviewers found that rehearsing the interview is helpful.
Fourth, interview the customer's representative.
Fifth, analyze and interpret the information.
After interviewing a sufficient number of companies,
you will be able to identify patterns that
indicate what the company is doing right and what the company is doing wrong.
When properly performed, the interviews clearly identify what needs to be changed.
Some changes are quick and easy,
others may require a change of strategy that affects the whole company.
The analysis include the compilation of the information collected,
and trends and patterns identified.
The interviews offer the answer to the most critical questions that need to be addressed,
allowing the identification of whether the companies loses business due to product,
features and quality, sales process or due to whatever the competitor is offering.
Sometimes, respondents provide detailed information on competitor's offerings and
help identify the incursion of other companies that you had not previously identified.
Sixth, dissemination.
If you know why you are winning some deals and losing others,
you should make sure all relevant areas should be
mobilized to perform actions that increase the firm's competitive capacity.
That must be a collective effort.
There are several ways to convey what you have learned,
like presentations to a group of decision makers or
monthly reports if your win loss efforts is a continuous activity.
What actually matters is that the company takes advantage of the results.
The multiple tools presented so far are excellent alone,
but in my experience,
they achieve the maximum effect when applied together.
See you in our next video.