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State of Win Loss Analysis 2015 Video
As Director of Industry Insights, Carolyn is responsible for analyzing aggregate data to understand best practices and root cause issues surrounding Win Loss and Customer Experience programs. Utilizing primary source research and secondary information, Carolyn produces syndicated and custom client reports that help to illustrate best practices and benchmarking metrics. Prior to her current role, Carolyn served as a Program Consultant at Primary Intelligence since 2013, with direct responsibility for customers’ Win Loss and Customer Experience programs. Read full bio
I wanted to talk with you about something today, a topic that’s a little sensitive for some people. The topic is intelligence—the collection and analysis of information to better understand our surroundings.
When someone says “intelligence,” images of James Bond come to mind. You know, glamorous women and handsome men jetting around the globe, looking for secrets their governments can use to catch the bad guys.
Well, intelligence isn’t just for spies. Businesses also collect intelligence, not only about their competitors but also about their buyers.
For example, one of my clients specifically zeroed in on pricing intelligence, asking their buyers questions about what they liked—and didn’t like—about their pricing model.
Another client found out about a targeted campaign a key competitor was waging against them, including information that wasn’t true about their product integrations. My client used feedback from interviews with their buyers to better understand how they could counter these false claims.
At Primary Intelligence, we recently completed a study about intelligence, our annual State of Win Loss report. The research highlights how companies are collecting and using buyer and competitive information.
We found that 62% of managers believe they need more buyer and competitive intelligence, an increase from 55% in 2014. A key reason managers need more intelligence is that that they’re seeing more competitors this year compared to last year.
Company leaders also want to gain a better understanding of their buyers and the buying process, including what causes buyers to purchase from one vendor over competing vendors. And what drives buyer loyalty to continue purchasing from the same vendor each renewal cycle.
There are many types of intelligence you can capture – things like product intelligence, sales intelligence, service and support intelligence.
All you need to do is ask. Ask your buyers what they want to see in the products and services you’re selling. Ask them what they want in terms of support.
Ask them how you compare to other vendors, vendors you compete against every day.
While you not be destined for a career in international spying, you can engage in business intelligence by asking your buyers for feedback about what you’re doing well and areas you can improve.
To learn more about the State of Win Loss 2015 report programs and best practices, please visit the report page.