HOW WE CAN HELP
We’ve all been there: a promising new customer on the line, multiple positive conversations under our belts, site visits or product demonstrations successfully completed. The deal is ours… or at least we think it should be, but then that prospect winds up in the closed-lost column.
The “Real No.”
Companies that want to win, want to know what they did well, what they could have done better and what would have produced better results in any given sales situation.
With our approach to win loss analysis, your sales, product, and marketing teams will understand exactly why opportunities were lost and what needs to be done to improve the company’s win rate.
Our tailored, post-decision interview process will provide the candid feedback you need to reveal blind spots and improve your go-to-market strategy.
We will help you improve:
The real reasons for lost deals are not usually well understood. In our research, over 50% of closed-lost opportunities are mis-categorized. Let’s face it: if you have a “reason for loss” field in your CRM, it is awfully easy for the sales rep to select “no budget,” or worse: “other.”
Even if your team goes to the effort of conducting your own win-loss interviews, you are not getting the real answers. The target prospects are not giving intellectually honest feedback. Out of fear of hurting feelings, getting someone in trouble, or fear of setting themselves up for a follow-on sales pitch, they are gloss over points in the hope that they will get your people off of the phone.
As a neutral third party, we can ask more direct questions and get more candid responses in our win-loss research. We find out the real reason they did not buy your solution. Sometimes it is a case of “not now” as opposed to “no.” Other times the research exposes opportunities for product development or improvements in the sales or marketing methodologies. Either way, you will be in a position to take positive, proactive action.
We keep the interviews conversational. The more casual and genuine we are, the more the other party opens up to share important information. We combine questions for quantitative analysis so we can see charts and trends if it makes sense, with qualitative questions to help uncover important data points that may be lurking below the surface. We’re after more than a check in the box, or a predefined answer from a set of dropdown menu items. We are driving to the core of why people do or do not buy your offerings, and what you can do differently on the sales, marketing or product fronts.
Onboarding – we’ll have your people present us with your value proposition. Your pitch. We’ll review your marketing material, your sales decks, and ask that you talk us through what you do in plain language. We want to be smart enough to present your value proposition at a high level, and recognize potentially interesting conversation threads as they come up so we can pull on them as appropriate.
We have a set of questions we like to start with. We treat them as more of a conversation guide than a spreadsheet or form we are filling in. We work with our clients to refine the line of questioning based on their requirements. For example, we can place more emphasis on the quantitative end of the spectrum, or on the sales process, or product fit, etc.
We provide our clients with full interview notes, as well as a summary of findings. We’ll schedule a 90 minute call with you to walk you through what you wanted to know, what we found out and the implications you should consider.
Your people are all on the same team: Sales, Marketing, Product Management, etc. So the win-loss process is not about placing blame or necessarily exposing weakness. It is about finding ways to win more together. As such, it is best when everybody understands this philosophy and is bought into the idea of finding the right answers.
We’ll help you bring the affected parties on board so that everyone sees the value and benefits from the experience.
At Thirdside, we’ve carried sales quotas. We’ve run marketing departments. We’ve run product management and competitive intelligence functions. We can literally say, that we’ve been there, done that. Our researchers are all experienced professionals, as such they can pull on the right conversational threads as they come up, potentially uncovering new issues and opportunities that may have been beyond the initial line of questioning.
The answer for your company may not be in any single functional area. It may span multiple functional areas – some marketing issues, some sales process issues, and even some product issues. No matter where our research leads, we have the expertise to dig deep and return actionable insights to your team.Contact us for Free Consultation