“What went wrong”? Post Decision Analysis should be the the first question you ask when new business goes to a competitor. If you are really focused on continuous improvement at your software company you shouldn’t just move on and try again with the same sales approach and techniques. You need to understand why but also commit to do better.
Post Decision Win/Loss Analysis
During our time working in the nonprofit software technology space, we have observed that companies that win consistently do so because they want to know what went well, what could have gone better and what would have produced better results in every sales situation.
Unfortunately, informal post-decision debriefs with former prospects don’t work. In fact, the complete truth about why you lost a piece of business is only shared about 40 percent of the time.
That means in 60 percent of all lost-sale situations, you never get a complete and accurate explanation – and without that kind of strategic intelligence, you cannot improve sales performance.
With our win loss research, methodology and analysis, your sales leadership will understand exactly why they lost and what needs to be done to improve both their performance and your company’s overall presentation of its products and services.
We have a tailored, post-decision interview and debriefing process we employ which may provide you with the candid feedback you need to make competitive adjustments to your products, sales approach, marketing strategy and ongoing client servicing efforts. Further, since we directly work with software buyers evaluating systems like yours, we know what is important. And, we can dig deeper than just a “survey” or “novice” call in.
Our win loss expertise can help you:
- Improve the effectiveness of your sales advisers
- Gather competitive advantage that helps you better position, package, differentiate and deliver your value proposition
- Increase your understanding of how your competitors succeed in new business situations
- Identify the key drivers for acquiring new business
- Uncover unmet client needs and new product development opportunities
- Track what features are consistently reported and compared to those of others you compete with today
- Get a better pulse for how your sales team is “delivering” the message
Finally, our insights may help you be able to identify areas for improvement within the four key phases of the sales process:
- Building faster connections
- Identifying needs in the sales process
- Presenting solutions more tailored to your audience
- Obtaining more profitable business
Give us a call today to discuss how we may help you gain the knowledge you need from your customers and prospects today!