The Value of Win/Loss Analysis
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Jordan Bergtraum discusses the importance and benefits of win/loss analysis for product management, emphasizing its role in enhancing sales effectiveness and customer understanding. The presentation covers methods for capturing win/loss data, tips for conducting analysis, and the significance of focusing on losses to derive valuable insights. Challenges in implementing win/loss analysis, such as gaining participation from lost prospects and integrating feedback into sales strategy, are also addressed.
The Value of Win/Loss Analysis
- 1. The Product Mentor Presents: The Value of Win/Loss Analysis Jordan Bergtraum Product Management Consultant
- 2. Who is Jordan Bergtraum?
- 3. Who is Jordan Bergtraum? 7 years leading Product Management teams
- 4. Who is Jordan Bergtraum? Education, Manufacturing, Pharma, Legal, and Facilities Management verticals
- 5. Who is Jordan Bergtraum? 10+ years of B2B SaaS experience
- 6. Who is Jordan Bergtraum? Twice introduced Product Management to an organization
- 7. Who is Jordan Bergtraum? In-bound market research and outbound product marketing
- 8. What to expect from this presentation?
- 9. What to expect from this presentation? What is win/loss analysis?
- 10. What to expect from this presentation? The benefits of performing win/loss analysis
- 11. What to expect from this presentation? Different options for capturing win/loss information
- 12. What to expect from this presentation? Tips on conducting win/loss analysis
- 13. What is win/loss analysis?
- 14. What is win/loss analysis? Researching why some prospects select your company and others do not
- 15. What is win/loss analysis? Collecting these reasons in a way that will help you acquire new customers
- 16. The benefits of performing win/loss analysis
- 17. The benefits of performing win/loss analysis Helping your sales function close more new deals
- 18. The benefits of performing win/loss analysis Helping your sales function close deals faster
- 19. The benefits of performing win/loss analysis Understanding the barriers to acquiring new customers
- 20. The benefits of performing win/loss analysis Understanding why customers select your products
- 21. The benefits of performing win/loss analysis Becoming a rock star product guru / magician / genius / wizard
- 22. Options for capturing win/loss information
- 23. Options for capturing win/loss information Interview your sales team
- 24. Options for capturing win/loss information Interview your sales team Pro: Available
- 25. Options for capturing win/loss information Interview your sales team Pro: Incentivized
- 26. Options for capturing win/loss information Interview your sales team Con: Bias
- 27. Options for capturing win/loss information Interview your sales team Con: Sales won’t ask the right questions
- 28. Options for capturing win/loss information Perform your own
- 29. Options for capturing win/loss information Perform your own Pro: 1st hand data
- 30. Options for capturing win/loss information Perform your own Pro: You control the narrative
- 31. Options for capturing win/loss information Perform your own Con: Interviewee bias from affiliation awareness
- 32. Options for capturing win/loss information Perform your own Con: Uses your time
- 33. Options for capturing win/loss information 3rd party market research
- 34. Options for capturing win/loss information 3rd party market research Pro: Saves you time
- 35. Options for capturing win/loss information 3rd party market research Pro: Less bias
- 36. Options for capturing win/loss information 3rd party market research Con: Cost
- 37. Options for capturing win/loss information 3rd party market research Con: 2nd hand data
- 38. Tips on conducting win/loss analysis
- 39. Tips on conducting win/loss analysis Get Sales onboard
- 40. Tips on conducting win/loss analysis Check in with sales monthly for recent wins & losses
- 41. Tips on conducting win/loss analysis Offer participants some form of compensation
- 42. Tips on conducting win/loss analysis There is more value in the “losses”
- 43. Tips on conducting win/loss analysis Have a script, take notes, record the session
- 44. Tips on conducting win/loss analysis Don’t just ask about the “product”
- 45. Tips on conducting win/loss analysis Why did they start their search?
- 46. Tips on conducting win/loss analysis Who else did they look at?
- 47. Tips on conducting win/loss analysis Why did we win / lose?
- 48. Tips on conducting win/loss analysis How did our price compare?
- 49. Tips on conducting win/loss analysis How influential was our /their sales team?
- 50. Tips on conducting win/loss analysis Who were the decision makers?
- 51. Tips on conducting win/loss analysis Follow up with a thank you and survey
- 52. Tips on conducting win/loss analysis The survey will get you data
- 53. Tips on conducting win/loss analysis Selection Criteria Rank* You Comp #1 Comp #2 Company Stability Company Reputation Solution Fit Future Direction Product Breadth Quality of Salesperson Price Ability to Integrate Security Ease of Use Winner**
- 54. Tips on conducting win/loss analysis Share results with stakeholders… especially SALES
- 55. Challenges
- 56. Challenges Convincing “losses” to give you their time
- 58. Challenges Sales wants to own win / loss surveys But… you’re making sales life easier
- 59. Challenges Don’t chase 1 loss
- 61. The Summary
- 62. The Summary Focus on the “losses”
- 63. The Summary Ask an array of questions
- 64. The Summary Share the results
- 65. The Summary Make sure to get “data”