Earlier this year, I was honored to give a Win Loss analysis webinar, as part of the competitive intelligence #IntelCollab series facilitated by Craig Fleisher, Chief Learning Officer at Aurora WDC.
You can view the slides and listen to the webinar entitled: Win/Loss Analysis Captures and Keeps New Business. You will get a preview of my recently published book, Win/Loss Analysis: How to Capture and Keep the Business You Want.
Since people often disconnect for Q&A, I am including the second group of them here. (The first Q & A)
What percent of Win Loss analysis interviews are blind versus not-blind? First let me explain the question. A blind interview means that the interviewer does not identify the company who hired him or her to conduct the Win Loss interviews. Not-blind Win Loss interviews mean that the interviewer discloses the name of the company who is conducting (or the recipient of, if outsourced) the interviews.
I suspect that most B2B Win Loss interviews are not blind as it is more professional to be upfront about the company who wants the information. It is another touch-point with your customer or potential customer, in the case of losses. I have found that for every 2o Win Loss interviews I conduct, I find one lead for my client’s sales reps. This wouldn’t happen were it a blind interview.
Trust needs to be earned when interviews are blind. You need to offer those you interview something in exchange for not disclosing the company’s identity. This is not necessary when you are open about the hiring company. You also get on the same page sooner when you share the company’s identity. When you don’t, those you interview will be trying to guess who hired you to conduct the interview. This is just human nature. I think it’s playing games not to disclose the hiring company when I conduct B2B Win Loss interviews, which is what most of them are.
That said, there are companies who specialize in conducting Win Loss interviews that are blind. I suspect they are a minority. I am not one of them.
Do you have a horror story to share about a Win Loss interview that went badly? Do you have tips on how to deal with this? The worst thing that will happen is they will hang up on you, although I have never had that happen. These are warm calls, so there is a low risk that things will go wrong. Win Loss interviews are not cold calls, where the person has no idea who you are, when you’ll be calling or what you’ll be calling about.
In Win/Loss interviews, you have a warm introduction to the person you’ll be interviewing either directly from Sales or an introductory email that explains why you want to connect with them, giving them some good reasons why they would want to talk with you. The closest thing to disappointment is that more people don’t agree to Win Loss interviews or they forget about our scheduled interview time.
My biggest disappointment has come from a company who hired me to conduct Win Loss analysis. When I called the Sales person to find out more about their account before calling their customer, and I realized that their sales management hadn’t told them word one about this Win Loss process. They had no idea what it was, that management had agreed to this process, what was in it for them, and that they were to cooperate with me.
You mentioned that you use a decision tree approach to developing the Win Loss questions. How do you prepare them? Do you share with the sales force to validate it? I don’t share my decision tree with my clients. They don’t care to see this level of detail. They just want results.
I develop the decision tree approach especially around areas where I need to learn more before I conduct the Win Loss interviews. Examples might be technology or a manufacturing process. I would need to learn all the innuendos of the technology that might impact a decision to buy the customer’s product. I learn enough about the technology to probe deeper and deeper depending on how the customer might answer the questions. For example, I might learn all the technical features, training on how to use it, and the strengths and weaknesses the marketplace perceives about this company’s technology.
The decision-tree is thinking and plotting all the different ways that a customer could possibly answer my questions, and what questions I might pose depending on how they answer. Not only does this process give me ammunition to probe more deeply. There are fewer surprises in these interviews since I have done my homework. They run more smoothly.
Another example is decision-making criteria. It could be based on price, features, customer service, ease of use, compatibility with the customer’s other technology, company reputation/longevity, account rep, professionalism, or what others are saying about the company (industry consultants, other customers, Wall Street). Usually there are several factors at play, and if you do your homework, you’ll find out which are the most important ones and why.
To learn more about how to conduct your company’s Win Loss analysis, check out my book: Win/Loss Analysis: How to Capture and Keep the Business You Want.
Filed under: Cooperative Intelligence, Denver, Ellen Naylor, interview, win loss analysis | Tagged: loss analysis | Comments Off on Win/Loss Analysis: How to Capture and Keep the Business You Want: Q and A Part II