Templates for Win Loss Analysis

loss win photoI am now writing my win loss analysis book in earnest, over 2500 words, and adding at least 500 per day although I take Sundays off.

The question I get asked the most often is: “Can you share your win loss templates?”

This is a hard question to answer. While there is some commonality among the questions you want to ask your customers and prospects based on your industry and the things sales, marketing and product developers want to know; you need to use your creative juices. You also want to ask the right questions to answer your goals for conducting win loss interviews and analysis. For example, you might want to learn how your product or service is used, since it might be different from your company’s intention. Product developers will eat this up. Sales people will too if it means they can sell more.

Creativity aside, below is my template to stimulate your line of questioning for win loss interviews.

I break down questions into 4 buckets:

  • Relationship health
  • Company reputation
  • Product/Service attributes
  • Servicing issues

Win Loss Template

 

I hope this helps you create your win loss interview questions. Stay tuned for more tips on how to set up and execute a win loss program to help retain and grow your business.

In the meantime, feel free to checkout my Slideshare on “The Why, What and How of Win Loss Analysis.”

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20 Reasons to Do Win Loss Analysis

loss win photoI have some exciting news to share. I am writing a book on how to develop a win/loss program, even if you only do it for one quarter. I had thought that you would only gain benefit if you conducted these interviews quarterly, but I found out that you can learn so much, even from 20-25 interviews.

I hope to share this skill so small and mid-size companies can take advantage of what they can learn from more in-depth interviews with customers and prospects a couple of months after the sales event. I have been doing win loss interviews and analysis since the late 1980s and I keep coming back to it, since my customers learn more from these interviews than any other tactical analytic technique, as long as they take corrective action from the findings.

Why do you care about doing win/loss interviews?

  1. You learn things that your customers and prospects don’t want to tell Sales
  2. You learn things that your customers and prospects do tell Sales, but Sales doesn’t tell you
  3. You learn why customers really chose your solution
  4. You learn why prospects chose another solution provider
  5. You learn why undecided customers aren’t upgrading their solution
  6. You learn what your company is doing well
  7. You learn where your company can make improvements
  8. You learn what the competition does well
  9. You learn where they can make improvements
  10. You learn that the competition doesn’t always deliver on what they promise
  11. You learn that your company doesn’t always deliver on what your sales force promises
  12. You learn about good customer testimonials
  13. You learn about bad customer testimonials
  14. You learn how customer testimonials affect the sale
  15. You learn about shortcomings in the marketplace
  16. You learn about new technology being promised
  17. You learn how customers and non-customers perceive your selling process from start to finish
  18. From your wins, you learn how well implementation, training and customer service is perceived
  19. From your losses, you learn how well the competition’s implementation, training and customer service is perceived
  20. You learn about other marketing factors that affect customer perception: your trade show booth, industry write-ups, your advertising, etc.

Given all these benefits, I don’t understand why more companies don’t conduct win loss interviews and the resulting analysis. It’s the most cost effective form of research I know of, and talk about real-time intelligence. You gain so much more insight from a conversation than from conducting on-line surveys. I wish companies did fewer on-line surveys, since most of them seem meaningless. How can I assess good customer service from a grocery store cashier or retail cashier, who just rings up my sale?

You can gain great intelligence from talking to your customers, and win loss interviews are another marketing touch point if they are properly positioned as learning how you can improve your relationship with customers and prospects.

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Honoring Maya Angelou

The world has lost one of our greatest women this week, Maya Angelou. Her words have inspired so many people ranging from world leaders to the mainstream population of men and women around the world.

Years ago, I read about her life, and how she chose to be silent for a number of years during her difficult youth. I am so grateful she endured that time, and chose to share her many reflections about life over the years. She has impacted my life with her statements, particularly this one.

Maya Angelou

So many of us, myself included, spend too much time thinking about saying the right words when we hold a conversation. Maya made me realize that it’s my intention and the tone that I share that influence the conversation much more than the exact words.

I intend to make the person I talk to feel better at the conclusion of our conversation than when we started, even when I cold call.

I reinforce this intention with a short meditation or reflection before a conversation. This helps me think about the other person.

Another habit that reinforces this intention, physically is to put a smile on your face, whether on the phone or in person. Sometimes I have to force it at first, and then it just stays.

“Don’t take yourself too seriously.” What’s the worst thing that will happen in a conversation? Nothing life threatening that’s for sure.

Be enthusiastic: it’s infectious and you bring good energy to the other person, which is a gift.

Show appreciation for their time and what they’re sharing; and not just at the end of your conversation.

Be polite. This is a rare commodity in this digital world.

Listen closely and without judgment. Wow, it’s amazing what great questions you will ask; how much you’ll learn; and how good you’ll make them feel.

I share this Maya Angelou wise saying in almost every competitive intelligence, elicitation training, interviewing or conversational presentation or training session I give.

Thank you Dr. Maya Angelou.

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Is Mindset Block a Lack of Listening?

Listening DogI read two great blogs in the last couple of weeks: David Harkelroad’s which asserted that the biggest problem in strategy is mindset; and an HBR blog on “What Gets in the Way of Listening?” I think they are related since if you truly listen, you are open to having your mind changed.

There are many reasons people don’t listen well. We aren’t trained on listening from childhood with the competition that seems to thrive in the classroom for the best answer, to be the best, often at the expense of the other students. Sometimes we don’t listen since we’re scared. We are trying to appear confident and assertive and miss others’ perspectives in the process.

I like the flexible mindset shared in the HBR blog, “I do have a viewpoint going in, but I don’t assume or try to show I’m the smartest person in the room. I’m willing to hear them (colleagues) out for the sake of getting the best answer, not just my answer.” Listening is a sign of incredible self-confidence. Back to David’s point about mindset. I think many leaders don’t fully listen since they aren’t confident, but they want to appear confident. In the example cited of Blockbuster’s Wayne Huizenga having the intelligence to get into digital media, there is something that stops many executives from taking corrective action. Maybe the extremely generous pay that executives receive clouds their judgment and reinforces them not to change their mindset.

“Leaders who take organizational conversation seriously, know when to stop talking and start listening.” (“Leadership is a Conversation” by Boris Groysberg and Michael Slind). When you put aside your fear and anticipation, you are more open to listening. You are fully present and ready to respond to whatever gets thrown your way. You’re not thinking about what you might say next. You realize that a critical part of your job is to fully listen. Good interviewers and journalists have known this for years.

Interestingly enough, when you focus on yourself, you can pick out your listening weaknesses.

  • Do you listen to your inner critic rather than your audience when giving a presentation or sharing findings in a meeting?
  • Do you only see your role as an information professional? (fill in your job title)
  • Does your listening shut down when you are emotionally uncomfortable?
  • Are you trying so hard to show confidence and be right that you aren’t listening?

So what can we do as marketing, strategic or competitive intelligence professionals to change our leadership’s mindset as we provide them information and insight to assist in decision-making, which perhaps doesn’t support where they were headed? I have found that many of them possess a major ego. If I can provide them with the intelligence to feed their ego in a way that makes them think it’s their idea, I don’t have to change their mindset, which I think is a lot harder. But they do change their course of  action when it becomes “their idea.”

I am curious as to how others deal with their leadership’s lack of listening ears? I know as a telephone interviewer that there are not enough listening ears and that job disengagement in the US is around 70%, so if they answer their phone, they are likely to be informative.

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From Competitive Intelligence to Sales Enablement: Free Webinar

Join us for a free 45 minute webinar on April 22 at Noon Eastern US time (11 am Central, 10 am Mountain, 9 am Pacific).

Getting from collecting competitive intelligence to winning more deals from collected competitive intelligence can be tricky if you don’t have a good road map.

  • Companies collect competitive data, but don’t know what to do with it
  • Sales teams waste time finding the data they need to win competitive deals
  • Product selling is not an effective way to convince customers to buy

Join our informative webinar and learn how to turn your competitive intelligence into sales intelligence to improve your sales force’s close ratios and customer retention.

ellenmitchdean

Ellen Naylor of The Business Intelligence Source will share her knowledge on how to collect from your sales force, which helps them win more deals and retain more business. Mitch Emerson of Compelligence will show how you can transform that data into competitive intelligence that your sales reps can tap into for each deal. Dean Davison of Forrester Research will show you how to convert your marketing buzz words into conversation that customers resonate with, so they listen, ask questions, engage and buy.

Compelligence offers the first software solution which targets Sales to input and share competitive intelligence that works seamlessly with Salesforce.com. This is awesome since many sales reps use Salesforce.com already, so are more likely to use a system that builds off of what they know.

For more information on the webinar, check out: http://www.compelligence.com/2014/04/01/webinar-from-competitive-intelligence-to-intelligent-sales-enablement/

To register directly, go here.

Motivation: Treat Them the Way They Want to Be Treated

I have been conducting primary research collection interviews for over 25 years. I am most fascinated by what motivates people to share, and how to figure this out quickly, especially during a telephone conversation where you don’t have the benefit of body language. Contrary to what I have been taught: “Do not treat others like you want to be treated.” Treat them the way THEY want to be treated. Give or ask for information in a way that they are comfortable hearing the message.

For years, I relied mostly on the Myers Briggs personality types to gauge how people were motivated. However, I think that DiSC Behavioral Styles as developed by Dr. William Marston, are a better indicator of how you should best communicate with people in conversation. There are 4 personality types: Dominant (driver), Influencer (socializer), Steady (relater) Compliant (thinker). The focus of DISC is to understand the behavior, fear and motivation people exhibit in communication.

DISC Styles

In intelligence, we think about Johari’s Window as a model for knowledge acquisition as we gather data by talking to individuals. We consider what we do and don’t know as we seek to fill the gaps of our knowledge: what we know with certainty; what knowledge we have that needs to be verified; what we don’t know that will be hard to find; and what is simply the vast unknown.

I have applied this model to classifying those we talk to in the collection process. It’s helpful to be aware of their pre-disposition towards sharing versus what they know.

1. Egocentric: They are “know it alls,” who really don’t know that much, but have this need to let us know they are an expert and are always right. These are dangerous sources, and often want to linger on the telephone conversation. I guess they aren’t listened to enough or respected by their co-workers.

2. Deeply Knowledgeable: They are experts with deep knowledge about our research topic. They don’t have the need to be “right” like Egocentrics. They just know and pull information from their brain. They recognize the value of what they know, so might be reluctant to share when you probe deeply, especially if they feel you are querying about proprietary, sensitive information. People in the legal field and finance are often this way.

3. Intellectual: They are knowledgeable, but unlike the Deeply Knowledgeable, they don’t recognize the value of what they know and will share freely. They may suffer from low self esteem, which motivates sharing or they may not realize the value of they know, since this is what they do and they assume everyone knows what they know. Technical and scientific people often fall into this category, as they are highly focused in what they know and love to talk about it. They often have passion for what they do, and are happy to talk with anyone who will listen. They are often proud of their knowledge and might seek recognition from you during the conversation. But beware, you better know something about their expertise and their professional vocabulary or they will not open up much. Although not thought of as Intellectual, people in sales and marketing tend to be chatty, and often know a lot about products, how they’re marketed and sold, and about future products.

4. Helper: Many in America want to help, even if they don’t know. Helpers will try to answer your questions, but their knowledge is shallow, and what they share is incomplete and inaccurate. When you probe more deeply, you find this out. I tend to have shorter conversations with Helpers, but I do leave them feeling good about themselves. If I sense they are open, I will ask if they can refer me to a more knowledgeable source, especially when they admit, “I really don’t know,” when I probe more deeply. They sometimes give great referrals since they feel guilty that they couldn’t have helped more. They can be anywhere in the company.

Armed with elicitation skills–and an awareness of the person’s DiSC behavior and their pre-disposition towards sharing versus what they know– is very empowering for you whether interviewing people at trade shows, through cold calls or win loss interviews.

Learn Elicitation Skills at AIIP in Baltimore, Apr 2: 8 – Noon

AIIP Logo 2014AIIP holds its annual conference from April 2 – 6 this year in Baltimore, Maryland at the Hyatt Regency in the Inner Harbor. I will be giving a half day workshop from 8 am – Noon on April 2. The topic is elicitation skills with my corporate spin rather than the military intelligence angle.  The talk is entitled, “How to Use Conversation to Optimize Data Collection.” After all, elicitation is best done conversationally.

So here is a little more detail about why you might want to attend this workshop, especially if you live in the DC or Baltimore metro areas.

Many info pros and CI professionals dread conducting telephone, video, or in-person interviews, an essential skill for data collection. Through conversational interviewing, we can probe more deeply, and gain much more intelligence than through the Internet and social media. Actually my best audience for this workshop has been sales people who want to close more deals and retain their customer base. Elicitation forces them to organize their thoughts about what they’ll cover before they visit or telephone their customers.

Attend this workshop and learn how to successfully conduct interviews every time. Discover how to take your collection skills to the next level, and use this session to practice your skills.

Prepare yourself to conduct a conversational interview: physically, mentally and emotionally
Conduct a conversation to optimize data gathering–whether it’s a cold or warm call
Present your findings persuasively to your client

Ellen Speaking AIIP2012 1For those of you who don’t know me (Ellen Naylor), I have been using elicitation skills since about 1985, and have led workshops at SCIP and for clients privately for many years. I keep learning new ways to be more effective, which go far beyond the elicitation skills that we learn as competitive intelligence professionals.

The fee is $125 for AIIP, SCIP and SLA members, and $150 for everyone else. This is about 1/3 what I charge when I give this training at corporations. The maximum class size will be 20, and you will get individual attention, not just from me, but from fellow attendees. For more details about this workshop, check out AIIP’s site.

For more details about the AIIP’s conference, check out the detailed schedule, and the 4 other pre-conference workshop presenters. You can register for the full conference on line, which includes the pre-conference sessions on page 2 of the registration form.  There is a member rate for my session–How to Use Conversation to Optimize Data Collection–listed at $125, but it doesn’t specify SCIP and SLA specifically. I will honor these memberships, so if you belong to either, take the “member rate.” If there is a problem, we will sort it out at the session.

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