State of Win Loss 2017 [Infographic]
Primary Intelligence published key findings from our annual State of Win Loss report, including Win Loss program benefits, Win Loss data collection tools, annual spending on Win Loss initiatives, and comparisons with 2015 Win Loss findings.
The following infographic highlights some of the most compelling findings from our 2017 State of Win Loss research.
State of Win Loss 2017
In Primary Intelligence’s 2017 report on the State of Win Loss, B2B sales, marketing, and product management leaders provide their feedback on how they’re implementing and using win loss programs to win more deals and fuel long-term revenue growth. Win loss programs continue to be a crucial component for analyzing sales opportunities, identifying root causes, and developing best practices that lead to higher sales wins and increased revenue.
62% of respondents stated they need more win loss data and 77% want real-time access to the data.
Usage of Win Loss Programs Remains Strong
The clear majority of B2B companies—75 percent—have some type of win loss program in place today. This highlights companies ongoing commitment to collecting buyer feedback to improve products, sales, and internal processes.
The top reason most organizations don’t have a win loss program: they have too many priorities.
B2B Companies are employing external third-parties to meet needs of buyers
Sales, marketing, and product leaders surveyed indicated 28 percent use an external third-party to collect win loss data, while another 32 percent said their sales reps, support, and/or managers are charged with the task.
57 percent of respondents estimate their win rate is between 21-50 percent.
Strong belief that win loss programs help win more deals
Sales, marketing, and product leaders believe most strongly that win loss programs help improve organizations’ ability to win more deals. What’s alarming is the low confidence in sales reps knowing the real reasons that caused a buyer to select/not select their solution.
34 percent have seen significant improvement for their top ranked benefit within the last year.
Enhanced sales process, understanding of buying process, and identify sales strengths/weaknesses are top win loss benefits.
Twenty-nine percent of respondents said they saw benefits only several weeks after starting their win loss programs.
92% of respondents said they are priced similar or higher than their competitors.
Highest percentage of companies spending $100K–$500K annually on win loss programs
A dedicated investment in resources is critical for a successful win loss program. Organizations that invested more than $50K in a win loss program indicated its organization has seen an increase in revenue.
71 percent of respondents collect data from the buyer and sales reps.
Collecting both open-ended and close-ended feedback preferred by most companies
Over 80 percent of companies collect both open-ended (qualitative) and close-ended (quantitative) feedback with buyers. Collecting quantitative and qualitative data is considered a best practice at Primary Intelligence.
“We try to get our own feedback of course, but it is never as in-depth, or I think objective as it is when it comes from a third-party.” Vice President, Sales Support, Support Services Industry
10 Best Strategies for Success
- Make sure sales leadership is committed to win loss initiatives
- Secure executive-level support
- Introduce win loss programs as a learning tool, not a performance management tool
- Position win loss as a cultural change
- Create small wins to build momentum
- Clearly define program goals
- Share win loss information broadly
- Target a balanced number of wins and losses
- Use debriefing and discovery sessions
- Consider win loss in conjunction with a customer experience program