Summary / TL;DR: Yep – we run win-loss on ourselves using independent consultants. And just like everyone else, we learn more about ourselves, our markets, where we’re doing well and where we could do better.
We’re a firm that specializes in B2B Win / Loss interviews, and sometimes we get asked the question, “Why do we win, and why do we lose?” Well, yes, we run Win / Loss interviews, but we don’t do it on ourselves.
We are well aware of the many issues of cognitive bias and also how Loss prospects are oftentimes reluctant to be completely frank with the vendor. That’s very normal, and we get that. This is why we actually use a few independent experts to run win loss analysis on ourselves.
You might recall that when we conduct a Win / Loss interview, we ask prospects to evaluate the whole offer on four key factors: sales and marketing engagement, offer, product, and brand, plus one demand factor, which we call the customer side dimension. We then use those same metrics on ourselves.
So why do we win? Well, we win because customers see the value of an independent firm running their initial Win / Loss diagnosis phase. We also win because customers like how we’ve constructed our product to ask their customers not only what contributed to the outcome, but also what detracted from the outcome as well.
So not only do we do well on those product vectors, we also win because of how we’ve constructed our offer and the associated price point. Having this service on demand with no complex contracts and no minimum commits seems to resonate well with our customers. As a result, we do well on the offer vector as well.
But, we do lose deals as well.
So why do we lose, and what have we learned from that? Well, we lose firstly because we haven’t sufficiently made the case for the value of a B2B Win / Loss program. So that would be – in our language – issues on the engagement vector.
Secondly, the customer feels as though they are already doing a good enough job with the data that they’re currently getting through their Win / Loss reason codes in their CRM system or the anecdotes from the sales force. So again, for us that will be issues in our engagement factors.
Thirdly, although customers liked that we have a discovery and diagnosis phase, that first piece of a great Win / Loss program, they don’t feel as though they have the process or people in place to be able to do anything about the findings. In our terminology, that would be issues on the customer side, or the demand vector.
The good news is we never lose because of price or simplicity of offer.
There are always areas where all of us can improve, and we’re certainly no exception. We are continually looking to improve the way in which we make the case for Win / Loss with survey templates and white label business cases. But sometimes, for whatever reason, we’re just not right for the prospect. And that’s also fine.
So we thought you’d like this little bit of information. And yes, the Win / Loss experts have Win / Loss research done on themselves. And just like everyone else, we learn more about ourselves, our markets, where we’re doing well and where we could do better.