When we walk into a new client’s office, Win/Loss is always our first topic of conversation. Why? We think it’s critical for every company to understand why they are winning or losing business against their competition. And Win/Loss is one of those projects that really can’t be handled internally without an internal and external bias.
Companies spend an average of 30% of their total annual revenue on sales and marketing expenses. When measured as a percentage of revenue from new sales, the average increases to 41%. The data from Win/Loss helps companies spend that money more effectively.
Win/Loss data provides vital information for sales, marketing, and product development decisions. OpenSky investigates and evaluates wins and losses in an unbiased manner, focusing on the many factors that drive purchasing decisions, such as:
- Process (timing, sales coverage, relationships, marketing, knowledge)
- Product (scalability, breadth, ease of use, functionality, differentiation)
- Partnering Strategy (reputation, value, options)
- Price (product or bundle, multi-year, ROI, TCO)
- Viability (brand, market share, vision, financial stability)
With more than seven years of experience conducting Win/Loss Analyses, we’ve found that a combination of telephone interviews and email surveys works best. OpenSky Research deliverables include phone and email questionnaire design, fieldwork, project management, data tabulation and analysis, and a presentation of findings with actionable recommendations.
Through an analysis of direct feedback from wins and losses on a quarterly or semi-annual basis, your company will be able to:
- Increase revenues by turning learning into results.
- Decrease sales cycle times through an improved understanding of the buying process, decision-making criteria and likely issues and concerns.
- Improve product offerings through knowledge of purchasing criteria and customer requirements.
- Continuously increase marketing effectiveness through a better understanding of competitive positioning and key messages.