Win Better With Sales Analysis
All good salespeople know the importance of conducting and reviewing win-loss analyses. Adrian Davis discusses the win-loss sales analysis, and why it’s crucial that sales leaders pay more attention to win analysis. He also provides expert tips on how to properly conduct win analyses.
Win-Loss Sales Analysis
Win analyses and loss analyses are both fundamental. But, many sales leaders gravitate towards loss analysis, asking questions such as, ‘Why did we lose?’” “Who did we lose against?” and “Why did the customer choose another company over us?” While loss analysis is still essential, win analysis deserves more focus for a variety of reasons.
The Importance of Win Analysis
You can learn a lot from evaluating what went right. Win-loss analysis becomes especially important when trying to build your business with a particular kind of client. If you want to get more of a certain kind of client, interview past clients that were similar. This gives the salesperson an idea of what that client is looking for, and how to pitch to that specific need.
The Client’s Perspective
It’s notable that when salespeople or companies review win analysis, they typically only look at more recent deals. However, Davis recommends that you make a notation in your pipeline software to remind you one year after the sale closes. Use this reminder as an opportunity to go back and review things with your client. Understand the initial outcome that they envisioned, and how you have or haven’t delivered on it in the last 12 months. Truly step into the client’s shoes, and understand their perspective.
This type of analysis allows salespeople to have empathy for the client, and to see how they perceive the value in what you have sold them. Then, this analysis can be used for future sales calls. The salesperson can provide a nuanced story of how they can create value for prospective customers.