4 Steps to Plan for Successful Win Loss Interviews

I am in the planning stages of a win loss analysis project and in the spirit of cooperative intelligence will share why many of these endeavors don’t shed much light and never really get off the ground. One reason is the person conducting the win or loss interview does not have all the material s/he needs before conducting the interviews. Often people ask me for the template that I use when conducting the interviews. While that’s important, I find that people will tell me what they know once I get to interview them. The real challenge is convincing them to take the time for the interview in the first place!

What you need to get in the door:

 #1 Basic Sales Intelligence about the situation for each person/company you will be interviewing. At a minimum, I like to have:

The Company’s Name I will be interviewing

The Customer’s Name(s) (I like to get two or three if possible and let the customer decide who has time for this interview.)

Customer’s Title

Customer’s Contact Information: Phone number AND email address

Account Rep’s Name

How Long with the Company

Annual Revenue from theSale

Approximate Date of the Sales Decision

Win, Loss or Undecided

If Win, check what applies: Incumbent, Win back, Win with Competition, Win with little competition, Customer testimonial already

If Loss, check what applies: Was previously a customer, Was Never a Customer. Loss to ______ fill in the name of the Winner

All competitors whether win, loss or undecided

Deal Summary (Share the relevant details around the win or loss including the key challenges.)

Specific to the industry or customer. I will create categories of “customer” based on what marketing tells me, so sales can just check that off. I want to make this as easy as I can for Sales.

#2 A good value proposition as to why the customer or prospect wants to talk to you that you will either tell them over the phone or email to them in advance of a phone call to schedule a convenient time to connect.

#3 Flexibility on time and communication for the feedback you need on the win or loss situation. This is the real challenge today. So many people are doing the work of 4 people that they simply don’t have time. Some have that 15-20 minutes that you need to go over a survey and also allow them to simply tell you the real reasons why you won or loss and share precious nuggets about their business and the competitors. Others don’t, so you need to be creative about letting them tell you their story. Sometimes it’s useful to let them tell you some hard hitting information via email and then have a 10 minute call.  Somehow this isn’t as painful to them. Ironically it would probably take less of their time to give you a 20 minute call since email does take time to compose but somehow it often isn’t perceived that way.

#4 Research the companies and the people that you will be interviewing. In yesteryear I spoke to Sales to get this information. Now Sales doesn’t have time to talk to me in most situations, so I check out LinkedIn and other social networks to get an idea of how that person I need to connect with will be motivated to share based on their communication style. This is a good use of time since you can customize your communication based on this intelligence and this really opens up sharing. If you don’t know the company, check out their site so you can appreciate what they do.

So, I have shared the start to my win/loss projects, what do you have to add?

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Questions to Ask Competitive Intelligence Software Providers

One of my colleagues called today and we spoke about what you might be looking for when you team up with a competitive intelligence software provider. I have links to a few of my favorites here. Rather than extolling the virtues of individual providers, in the spirit of cooperative intelligence, here are some practical questions you want to ask a prospective service provider:

How does your system integrate with what I already have installed at various places in my company? Think salesforce.com that many in Sales use, SAP or Oracle systems. How does this software work with what people are already familiar with? Can the service provider provide a mask that makes it transparent to the user? Can this hang off our CRM? What will the CI software enable you to do that you can’t do today? Why?

How does this software enable competitive intelligence: monitoring, collection, dissemination and analysis? Frankly there isn’t a system out there that I know of that supports the entire competitive intelligence (CI) process. You need to decide what is the most important part of the CI cycle that the software will enable. Is translation built in for global organizations? How will it support multiple languages? Or do you build separate software apps in the native tongue and not support translation?

Many companies use CI software to both collect and disseminate intelligence. As a CI professional, I look for a solution that will free up my time to be a critical thinker, to do the analysis, prepare persuasive communication from what I can deduce, and connection with my users and providers of CI–in some cases maintaining that relationship in others finding and building relationships.

In that same vein, what is involved in keeping the information flow up-to-date? Does the software have crawlers that continue to find new information? How does it accommodate and integrate findings from traditional web 1.0 and social networks? Can my clerks be set up to input that timely information? Does it include any audience opinions such as a favorable rating versus slamming your products? How far back do I want to go in storing information? How do I insure that the date of the information is clearly identified so readers know? Do we have guidelines around copyright?

What is the balance between Push and Pull? Can my system users decide which areas they want to follow and have information pushed to them? How will the information be organized so people can easily find it? How does keyword searching work to locate information?

How easy is this system to use? Is any aspect of it visual? How easy is it for people to add information? Can they do it on the fly, such as from a trade show when they learn new intelligence? How do people correct mistakes and outdated information? Can I use the software for CI project management? How can people communicate back and forth through this software? Can we locate experts by topical area, both internal and external to the company?

What is the system security? How do I keep my strategic information away from Sales, for example? How do I keep all that Sales chatter away from R&D and strategic planners who might not be interested? How many levels of security does the system have?

What is your company’s culture? Are people going to engage with a CI software application or do you already have too many apps for people to process? Timing is everything. If your company is receptive to a CI software solution, where do you test it? How long do you test it? What will be the measure of success that will cause you to expand its usage? How will you train users on how the system works and the benefits of using it?

I believe that companies who can react to and predict the marketplace in real-time, while also having a meaningful long-term strategic plan, will be the winners in this global competitive environment. While you need to look out in the future with your crystal ball, you also need to be flexible enough to react to what is happening in the present moment, and be nimble enough to change, adapt and be opportunistic.

So, what questions would you add to this list?

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