On March 13, Clozd welcomed guests from Avalara, Qualtrics, and Armor Cloud Security for a discussion about win-loss analysis and why every product marketer should needs to be conducting win-loss interviews. Learn tips and best practices for three experienced product marketers.
Over time, and across thousands of win-loss interviews for clients in various industries, Clozd consultants have uncovered insightful trends relating to the impact pricing can have on vendor selection. It is a common decision factor, but not always in the way a sales rep might expect. This interview with Clozd founder Spencer Dent explores some of these pricing trends, which can be insightful for pricing and packaging teams, sales leadership, and sales enablement teams.
When conducting win-loss interviews, is it better to take a blind or non-blind approach? This blog post explores the merits of both methodologies, and explains why the predominant practice in the win-loss industry - and at Clozd - is to take a non-blind approach to win-loss interviewing.
One of the first questions we often hear from prospective clients is: “How many win-loss interviews should we conduct?” It’s an important question without a simple answer. To get to the best answer for your organization, here are some factors to consider.
While most organizations intuitively understand the value of win-loss analysis, execution of an effective win-loss program can often seem daunting and difficult. Clozd frequently speaks with organizations that are unable to capitalize on buyer feedback due to several common roadblocks. Let’s explore these common win-loss roadblocks and learn the best strategies for avoiding or overcoming them.
Where win-loss analysis becomes really powerful is when you begin to tag and track themes across interviews. This allows you to see what you’re doing well, what you’re doing poorly, where your efforts are yielding improvement, and where you need to focus next to improve your win rate. But while themes carry a lot of value, they bring pitfalls as well - after all, there is always some subjectivity involved in turning qualitative data (interviews) into quantitative data (trackable themes). So how do you create and track win-loss themes effectively? Here are some guidelines we have developed based on our experience conducting hundreds of win-loss interviews.
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.
As we run win-loss programs, we diagnose the symptoms and root causes of why our clients win and lose. Like a doctor, we see common symptoms across our “patients." This list highlights symptoms we look for and can serve as a great checklist for assessing the health of your business.
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.
When conducting B2B win-loss analysis, there are three common data sources that companies can turn to: the CRM, the sales team, and the buyer. This article explores each of these data sources, answering the question, "what is the best source of win-loss data?"
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.
Why do customers pick you vs. your competitors? It's obvious that having an accurate, articulate answer to this question can be an invaluable asset for leaders and team members across practically every function of your business. Here are a few lessons I've learned about getting to the right answer.
In this Harvard Business Review article, sales guru Steve W. Martin warns that "you truly can’t train your sales teams on how and why prospective customers make their buying decision if your training isn’t based upon direct interviews with decision makers at won and lost accounts."
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.
Great sales teams are proactive about managing their competitors' churn. They employ several strategies to ensure they are poised and ready to overtake their competitors' accounts come renewal time. Check out this blog post to learn more.
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.
How does your existing win-loss program stack up? Find out now.
The win-loss diagnostic is a short online assessment that rates your existing win-loss program. Fill out the assessment to get an instant, personalized report detailing how your win-loss program is performing against the four core competencies of transformational win-loss analysis.
So you're company is going enterprise? It may be the most over-used word in SaaS right now. It’s abused in press releases, funding announcements, internal company meetings, marketing messaging, and sales conversations. What does it really mean? And what are some useful tips and common challenges to be aware of?
Not only will win-loss analysis drive alignment across the org, but it will provide critical insights and direction for practically every function. Learn more about how win-loss analysis benefits the executive team, marketing, sales, product, corporate development, client success, and more.
Are you looking to build a business case for implementing win-loss analysis at your company? One helpful resource is the Gartner report entitled, "Tech Go-to-Market: Three Ways Marketers Can Use Data From Win/Loss Analysis to Increase Win Rates and Revenue" by Todd Berkowitz. This blog post provides a quick summary of the findings.