Winning in an Economic Downturn: Part 2

Winning in an Economic Downturn
Part 2 of 2

Avoid Missteps, Adapt on the Fly, and Come Out Ahead

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It’s Time to “Tune In” to Why You Win & Lose

In Part 1 of this article, we explored how great companies focus on more than just survival during a downturn. They focus on winning. Small gains during a downturn are magnified when the economy recovers.

More than ever, you need to understand the nuances of each won and lost opportunity. Leaders need to be continuously “tuned in” to why the business is winning and losing.

One of the reasons why I love “win-loss analysis” as a category is that we help companies refine and improve their operational efficiency. Effective win-loss analysis - especially during a downturn - increases sales productivity, optimizes product development, exposes gaps in pricing models, and drives strategic alignment around how to win more customers.

To learn how to conduct effective win-loss analysis, download our guide.

Avoid Missteps, Adapt on the Fly, & Come Out Ahead

Companies that double-down on win-loss analysis during a downturn are able to avoid missteps, adapt on the fly, and come out ahead. Here are some specific examples of how you can leverage win-loss analysis to ensure you’re on the winning side coming out of the downturn:

• Stakes are higher in a downturn. So, leverage your win-loss data to drive strategic alignment and set the right priorities. Resources are limited, so you can’t afford to take missteps. Win-loss analysis helps you avoid them.

• Win-loss analysis helps you monitor how buyer expectations, preferences, and behaviors are evolving throughout the downturn. Then, you can respond more quickly than your competitors. Adjust your messaging, pricing, and product roadmap on the fly.

• Leverage insights and learnings from wins to motivate and develop your sales team. Understanding your successes will help reps believe that winning is possible and will give them a more effective playbook for replicating those victories.

• Leverage insights and learnings from losses to avoid making the same mistakes twice. As we covered in Part 1, you need to treat every deal like it’s a make or break deal during a downturn. Win-loss analysis exposes why you fell short so that you can adapt.

A small investment in win-loss analysis will enable you to multiply your gains during the downturn and emerge as a leader on the upswing. Don’t waste time, start now.

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Spencer Dent is one of the founding partners of Clozd, a leading consultancy for B2B win-loss analysis, and a former Case Team Leader at Bain & Company.

Review Part 1 of his article by clicking here.