If you’ve spent any time on our website or explored the world of win-loss analysis, you already know that Clozd was founded to help businesses uncover key trends and insights about why they win and lose business. While most of our clients engage Clozd for win-loss analysis, we have found several other applications of our interview services that have helped clients answer critical questions for their businesses.
Let’s take a closer look at several examples:
Churn or “At Risk Client” Interviews: A slight variation from a traditional win-loss interview program, this structure allows you to learn from actual clients who have discontinued (or may soon discontinue) their relationship with you. Interviewing both churned and at-risk clients who are willing to share their experience helps increase awareness of common issues that are driving customers away. Issues that cause clients to second guess their original decision can be addressed before the dreaded churn happens.
Investment Opportunities: Investors need to be confident that the companies entrusted with their money are delivering a valuable product or service. Investment firms benefit considerably when they engage win-loss services to perform interviews with customers and prospects of target companies. In conjunction with their sophisticated predictive financial models, customer and prospect interviews can help confirm the right investment opportunities.
New Product Lines (Up-sell Opportunities): If you’ve recently added a new feature, product line, or enhancement to an existing product or service, it may be difficult at first to tell how this new offering might be received or the best way to communicate its added value to your customers. Interviewing your existing customer base about their decision to add (or not add) the new feature or product is a great way to determine what is and is not working when marketing these solutions. This and other strategies can make win-loss particularly relevant to product marketing professionals.
Partner or Reseller Interviews: Companies who sell products or solutions through channel partners, distributors, or resellers want to be sure those partners are the right fit. After all, mistakes made by partners can tarnish the reputation of the company behind the product. Likewise, partners want to be sure the solutions they are selling have been developed properly, and that the terms of their relationship are beneficial to both parties. Partner interviews help both players evaluate strengths and opportunities for improvement.
New Market Entry: Clients who want to examine the potential for new market entry speak with people in a new geographic market or business vertical to assess the promise of that opportunity. These interviews can shed light on what potential buyers’ priorities and thoughts are regrading an ideal solution, even if it doesn’t exist yet.
Blind “Competitive” Interviews: A spin on the traditional win-loss interview, the blind “competitive” interviews is an interview of a prospect who recently evaluated your solution against several competitors. As we outlined in another recent post, a blind interview program does not let the interviewee know who is behind the study and offers an opportunity to understand a “30,000-foot view” of the relative performance of multiple competitors.
Customer Journey Interviews: Customer journey interviews look closely at each of the touch-points a customer has with your team throughout their time as a customer, from initial sales interactions, to implementation and training, to ongoing support. Clients typically choose this type of interview program to learn at which points along the journey their teams are offering an outstanding customer experience and where they can improve.
Clozd has conducted interview programs in all of these areas. Even when our clients are not conducting a traditional win-loss program, the feedback we get from their clients and prospects helps them to improve and ultimately grow their wins while experiencing fewer losses. If you’d like to uncover why you’re winning and losing business -- in your customers’ own words -- get in touch to learn how a Clozd interview program can help. Or, share your ideas with us and let us help you design a new program that fits your company’s unique needs.