On Tuesday, August 28th, Clozd will host the webinar, “The Future of Win-Loss Analysis.” Join us as Andrew Peterson (Clozd co-founder) and Braydon Anderson (VP Operations) contrast outdated win-loss methods with modern alternatives.
Are you looking to implement win-loss interviews and analysis at your own company? A great resource for insights and best practices is Pragmatic Marketing. The Pragmatic Marketing framework is the de facto standard for training product professionals since 1993. One of the practices encouraged and promoted by the framework is win-loss analysis.
When a B2B deal goes south, the most common reason initially identified by both buyers and vendors is price. Of course, price runs through every decision, and no one loves shelling out cash. But, in conducting hundreds of win-loss interviews for high-profile clients, our team at Clozd has very rarely encountered situations in which the true driver of the deal turned out to be a raw difference in price. Instead, our in-depth conversations have yielded key insights on what a buyer really means when she says “the price was too high.” This blog post explores three common, underlying themes that could be the real problem with your pricing strategy.
In an ideal situation, a business' sample size would consist of it’s entire customer base (i.e., gathering data and feedback from every customer the business has won or lost a deal with). This approach would ensure a complete picture is painted, with representation of every size and shape of sales opportunity. However, conducting an interview with every prospect is neither feasible (economically) nor required (methodologically).
So, what is the right number of interviews to conduct? The short answer is . . . it depends.
Many of the organizations we talk to are implementing formal win-loss analysis for the first time. They've realized they need a more rigorous approach to win-loss, beyond just a drop-down field in the CRM; but, they aren't totally sure what to look for in a win-loss solution provider. So, here’s 13 must-haves to look for when selecting a win-loss partner.
Many of us at Clozd have years of experience working directly with survey feedback, and we recognize where this feedback is valuable. However, we’ve learned that when analyzing wins and losses in a complex B2B sales environment, surveys pose some unique challenges. Survey response rates and issues with data quality can prevent organizations from capturing the full story behind why they are winning and losing valuable business. If you are considering a survey-based approach to win-loss analysis, first consider these challenges.
Explore some essential tips for becoming an effective product marketing manager, based on the principle of Essentialism from Greg McKeown's book, Essentialism: The Disciplined Pursuit of Less coupled with some of my experiences as a product marketer for a fast-growing technology company called Qualtrics.
People who are new to formal win-loss analysis, especially in B2B settings, often ask questions like: "Is it important to interview clients?" "Can we survey them instead?" "What's wrong with analyzing the data that's already in our CRM?" This blog post explores reasons why it's essential to base your analysis on actual interviews with decision-makers at won and lost accounts.
One of the biggest problems most orgs encounter after launching a win-loss interview program is that they haven’t developed a simple, effective strategy for sharing the findings with all the key stakeholders across their business. As a result, the program limps along with poor engagement and minimal impact.
Check out the recent SalesFounders Podcast episode about win-loss analysis featuring Clozd founder, Spencer Dent. Leveraging his experience at Bain, and Qualtrics, Spencer co-founded Clozd with the mission to help companies uncover the truth about why they win and lose. On this episode, Spencer shares some of the most common pitfalls, and why win-loss analysis should be an integral part of your growth strategy.
There are various reasons and motives behind the decisions that B2B decision makers make. At Clozd, we have conducted hundreds of post-decision interviews with decision makers across industries. While buyers generally try to represent the interests of their company, many are influenced by one or more of these underlying political, professional, and/or personal motives.
No one is going to tell you your baby is ugly. Likewise, no client is going to tell a product manager that their baby (the product) is ugly or undesirable. Maybe that's a bit extreme, but in practice it's true that clients are hesitant to share critical product feedback with the product's parent. For companies that want candid, honest feedback about their product offering they need to enlist the help of a neutral third-party.
Win-loss analysis is the practice of capturing and analyzing the reasons why you win and lose sales opportunities. It’s the equivalent of film study for football teams.
Better methods and technologies for film study can give certain teams a distinct competitive advantage. Likewise there are methods and tools that companies can employ to make win-loss analysis more effective. At Clozd, we bucket them into four categories that we refer to as the four "pillars" or "core competencies" of win-loss analysis.
In a world where email and messaging rule the day, why do great B2B sales leaders still encourage cold calls? Because cold calling works. As part one of our sales effectiveness series, Clozd’s Director of Strategic Accounts shares five strategies that can help you reap the benefits of effective cold calling.