What are Win/Loss Reviews and how can they help B2B sales organisations?
At its simplest, a Win/Loss Review is a way to gain a much deeper and more specific understanding of why you’re winning and losing the business you pitch for. What’s unique about the 5 Step Win/Loss Review program which Trinity has developed is that we speak directly to your customer and extract specific and actionable insights.
We’ve found there are 2 main reasons why it makes sense to use a third party provider, rather than conduct the Win and Loss reviews yourself. Firstly it puts your customer at their ease, by removing any awkwardness or conflict of interest, allowing them to provide really candid and frank feedback. Secondly by bringing in an independent perspective, it makes the process of recognising and acting on the feedback and insights provided significantly easier for vendors.
Trinity Perspectives can develop and deploy a tailored WLR program in as little as 5 days. This enables your organisation to begin collating actionable sales intelligence immediately from key sales cycles and derive meaningful ROI from every single deal.
The WLR premise is deceptively simple, however when executed properly its benefits are extremely compelling.
- Improved individual and company-wide win ratios.
- Quicker close rates, due to a better understanding of factors which have delayed sales cycles in the past.
- Growth in the volume of pipeline, due to lessons learned through prior WLR’s.
- The ability to establish clear Win/Loss benchmarks, to share across the entire sales force.
- A dramatic improvement in competitive win-rates, through a clearer understanding of prior losses against key competitors.
- Greater levels of referral business due to the increased professionalism and client care demonstrated throughout the sales cycle.
- A mechanism to track sales effectiveness and quickly identify enablement targets across the entire sales force.