Using Win Loss Analysis: Customer Experience
Competitive intelligence, Customer experience analysis, Win loss analysis
Most often when people think of win loss analysis, they think of the sales process. But win loss analysis has tremendous benefits on the customer success side of a buyer’s journey. It is not uncommon for the sense of urgency to dip once the deal is done. Using buyer feedback throughout the customer experience helps delivery ensure they are fulfilling on the expectations of the customer.
Customer experience can benefit from win loss insights in the following ways:
- Aligning Sales Promises and Delivery
Conflict between sales and delivery is a time-tested point of friction within any company. Many times, this conflict is created by a miscommunication in the handoff from sales to delivery. This miscommunication occurs due to a number of issues, such as the buyer alters the scope of work after the deal closes, sales doesn’t fully understand the needs of the buyer, sales does not effectively communicate with delivery on what has been promised, or delivery doesn’t make the effort to understand the customer’s needs before beginning the project. Voice-of-the-buyer programs help your delivery team better understand what buyers generally need in your solutions so that they can focus on the key points that satisfy those needs.
- Understanding What is Important to Buyers in Customer Experience
Win loss analysis gathers key information on the needs of the buyer and what they understand has been promised. This helps your delivery team better understand how to fulfill on expectations and create satisfaction on the side of the buyer. As you work with your customers, their business needs and objectives may change, and you can use a voice-of-the-buyer program to stay current with what’s truly important to your customers when it comes to service, delivery, and product to understand what ways you can provide value to your customers throughout the relationship.
- Predict and Prevent Customer Churn
Customer churn usually happens when a customer feels you are not meeting their specific needs. If a customer is experiencing frustration during their customer journey with you, they are sometimes reticent to proactively discuss their full concerns. If you can realize and correct those areas of concern before they grow too large, you can keep client relationships strong. By doing voice-of-the-buyer programs during the customer’s journey, you can identify and correct pain points that appear before they become deal breakers. A voice-of-the-buyer program prompts the buyer to provide information on their areas of concern that they may not have volunteered before. This gives your customer an arena to express ways you have succeeded and fallen short in customer experience and delivery. Over time, this can also show trends in your mode of operations that commonly lead to customer frustration or concern, giving you a chance to correct them before they cause other customers to feel the same poor result.
Customer experience will always benefit from constant feedback from your buyers, and gathering this feedback in the proper way will help you rectify individual customer concerns as well as identify trends in company processes that cause pain points for your customers as a whole.
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