You've Got Questions. Innovaxis Finds the Answers.
Why did you lose that bid to your competition? Why did you win it?
We believe that you need to follow up with every win and loss, at least for those of significant size, in order to replicate what works and improve upon what needs to be addressed. The risk of not doing win/loss analysis is that you replicate what doesn't work and not realizing what you are doing right. Additionally, respondents are far more likely to be open and straightforward with us, who they view as an impartial third party.
The Win/Loss Analysis Process
- Review the opportunity
- Determine what competitors and alternatives were considered
- Understand why we won or lost
- Evaluate how we compare with competition
- Learn about the decision-making process
- Evaluate the sales rep, proposal, presentation, and referrals
- Understand how we were pulled in initially
- Solicit advice for how we can improve next time
- For wins: determine interest for a testimonial or case study