Using Win Loss Analysis: Sales
As a sales leader, win loss analysis is key to hitting revenue goals and increasing win rates for your team. Through win loss analysis, you are able to tap into your buyer feedback to get an unbiased look into why your reps win and lose. These actionable insights help you determine what data-driven, strategic changes to your sales processes will help your team increase win rates.
As a sales leader, there are many ways you can use your win loss insights including:
Understanding Buyer Perception
Unfortunately, over 50% of the time, your sales rep will give a different reason for a win or a loss than your buyer. This disconnect between why sellers think they lose and why they really lose is where deals fall short. By running a win loss analysis program, both you and your sales rep get a first-hand, unbiased look into why a deal came to a particular outcome. This rep-level feedback helps you as a sales leader identify the specific things a rep can do to win futures – according to your buyers. By understanding your buyer’s true perception of your solution, you can also improve areas of pitch, sales process, and competitive positioning to create the best sales experience possible.
Because win loss analysis through Primary Intelligence gives you automated buyer feedback for all your reps’ deals, you’re able to see why your team wins and loses – overall and as individuals. The insights you receive regarding wins and losses give you the power to identify opportunities for focused sales coaching. Personalize training sessions and use real-life, relevant examples from your rep’s deals to support your coaching efforts. When coaching sessions are backed by buyer feedback, your reps will be more likely to internalize your coaching.
It can be difficult to know what deals will close. When you utilize win loss analysis, you’re able to identify trends in lost deals to help you better predict close rates. As you analyze these trends, you may also discover that many lost deals were actually winnable. You can take the loss reasons from these winnable deals and combat future losses for similar deals in your pipeline.
Sales reps often don’t have the technical knowledge or information to confidently differentiate your offering from competitors. Through win loss analysis, you can see how your buyers perceive your solution against your competitors and use these insights to your advantage. Identify your strengths and weaknesses when it comes to competitive deals and train your reps accordingly. Your sales reps will be able to speak more confidently to competitive claims when questions arise from your buyers.
The possibilities are endless as you use win loss analysis as part of your sales strategy. Win loss analysis can help you discover each rep’s unique path to winning more deals.