Over half (57 percent) of respondents in the 2014 Primary Intelligence State of Win Loss survey said they’re collecting feedback from both buyers and sales reps when evaluating why they won and why they lost in competitive sales opportunities.
At Primary Intelligence, we applaud these results, since it gives company executives a clear picture of what happened in each opportunity.
Feedback that comes exclusively from buyers or sales reps can provide a unidimensional view, especially when “politics” was a factor or other extenuating circumstances were at play. Getting feedback from both parties gives you “both sides of the story,” so to speak.
But how is Win Loss Data Really Collected?
When we peeled back the onion and dissected this feedback further, we found a much higher prevalence of Win Loss feedback being gathered from both buyers and sales reps at organizations utilizing an external Win Loss provider (65 percent) compared with organizations conducting their own internal Win Loss Analysis (44 percent).
In fact, 38 percent of organizations doing their own internal Win Loss Analysis say they only collect Win Loss information from sales reps.
When the success of Win Loss programs is cross-referenced with the way in which Win Loss data is collected, the results show that using a combination of feedback from both buyers and sales representatives is more effective than using either source independently.
Program success is higher in every category among organizations collecting buyer and sales rep feedback, and it’s especially evident when comparing combined buyer/rep feedback against feedback that’s only collected from sales reps.
More So What
Similar to Program Success, Win Loss IQ is substantially higher for respondents collecting feedback from both buyers and sales representatives in four out of six categories we included in the State of Win Loss survey, especially the category:
“I know why we win in competitive sales opportunities.” Additionally, we can see that buyer feedback is more valued than feedback from sales representatives alone or from sales representatives and buyers collectively when trying to decipher competitor strengths and weaknesses. This is likely due to the perception that buyers have less bias when discussing other vendors, compared with potentially biased feedback learned from Sales personnel.
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