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The Value of Win/Loss Analysis

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Slides Jordan Bergtraum recently used in his discussion w/ mentees of The Product Mentor.

Synopsis: Performing your own Win/Loss analysis can help you more objectively learn why your product sells, and even more important why it doesn't sell. I'll discuss the tactics of having there interviews, what questions to ask, and how to use the results.

The Product Mentor is a program designed to pair Product Mentors and Mentees from around the World, across all industries, from start-up to enterprise, guided by the fundamental goals…Better Decisions. Better Products. Better Product People.

Throughout the program, each mentor leads a conversation in an area of their expertise that is live streamed and available to both mentee and the broader product community.

http://TheProductMentor.com

Publicado en: Empresariales
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The Value of Win/Loss Analysis

  1. 1. The Product Mentor Presents: The Value of Win/Loss Analysis Jordan Bergtraum Product Management Consultant
  2. 2. Who is Jordan Bergtraum?
  3. 3. Who is Jordan Bergtraum? 7 years leading Product Management teams
  4. 4. Who is Jordan Bergtraum? Education, Manufacturing, Pharma, Legal, and Facilities Management verticals
  5. 5. Who is Jordan Bergtraum? 10+ years of B2B SaaS experience
  6. 6. Who is Jordan Bergtraum? Twice introduced Product Management to an organization
  7. 7. Who is Jordan Bergtraum? In-bound market research and outbound product marketing
  8. 8. What to expect from this presentation?
  9. 9. What to expect from this presentation? What is win/loss analysis?
  10. 10. What to expect from this presentation? The benefits of performing win/loss analysis
  11. 11. What to expect from this presentation? Different options for capturing win/loss information
  12. 12. What to expect from this presentation? Tips on conducting win/loss analysis
  13. 13. What is win/loss analysis?
  14. 14. What is win/loss analysis? Researching why some prospects select your company and others do not
  15. 15. What is win/loss analysis? Collecting these reasons in a way that will help you acquire new customers
  16. 16. The benefits of performing win/loss analysis
  17. 17. The benefits of performing win/loss analysis Helping your sales function close more new deals
  18. 18. The benefits of performing win/loss analysis Helping your sales function close deals faster
  19. 19. The benefits of performing win/loss analysis Understanding the barriers to acquiring new customers
  20. 20. The benefits of performing win/loss analysis Understanding why customers select your products
  21. 21. The benefits of performing win/loss analysis Becoming a rock star product guru / magician / genius / wizard
  22. 22. Options for capturing win/loss information
  23. 23. Options for capturing win/loss information Interview your sales team
  24. 24. Options for capturing win/loss information Interview your sales team Pro: Available
  25. 25. Options for capturing win/loss information Interview your sales team Pro: Incentivized
  26. 26. Options for capturing win/loss information Interview your sales team Con: Bias
  27. 27. Options for capturing win/loss information Interview your sales team Con: Sales won’t ask the right questions
  28. 28. Options for capturing win/loss information Perform your own
  29. 29. Options for capturing win/loss information Perform your own Pro: 1st hand data
  30. 30. Options for capturing win/loss information Perform your own Pro: You control the narrative
  31. 31. Options for capturing win/loss information Perform your own Con: Interviewee bias from affiliation awareness
  32. 32. Options for capturing win/loss information Perform your own Con: Uses your time
  33. 33. Options for capturing win/loss information 3rd party market research
  34. 34. Options for capturing win/loss information 3rd party market research Pro: Saves you time
  35. 35. Options for capturing win/loss information 3rd party market research Pro: Less bias
  36. 36. Options for capturing win/loss information 3rd party market research Con: Cost
  37. 37. Options for capturing win/loss information 3rd party market research Con: 2nd hand data
  38. 38. Tips on conducting win/loss analysis
  39. 39. Tips on conducting win/loss analysis Get Sales onboard
  40. 40. Tips on conducting win/loss analysis Check in with sales monthly for recent wins & losses
  41. 41. Tips on conducting win/loss analysis Offer participants some form of compensation
  42. 42. Tips on conducting win/loss analysis There is more value in the “losses”
  43. 43. Tips on conducting win/loss analysis Have a script, take notes, record the session
  44. 44. Tips on conducting win/loss analysis Don’t just ask about the “product”
  45. 45. Tips on conducting win/loss analysis Why did they start their search?
  46. 46. Tips on conducting win/loss analysis Who else did they look at?
  47. 47. Tips on conducting win/loss analysis Why did we win / lose?
  48. 48. Tips on conducting win/loss analysis How did our price compare?
  49. 49. Tips on conducting win/loss analysis How influential was our /their sales team?
  50. 50. Tips on conducting win/loss analysis Who were the decision makers?
  51. 51. Tips on conducting win/loss analysis Follow up with a thank you and survey
  52. 52. Tips on conducting win/loss analysis The survey will get you data
  53. 53. Tips on conducting win/loss analysis Selection Criteria Rank* You Comp #1 Comp #2 Company Stability Company Reputation Solution Fit Future Direction Product Breadth Quality of Salesperson Price Ability to Integrate Security Ease of Use Winner**
  54. 54. Tips on conducting win/loss analysis Share results with stakeholders… especially SALES
  55. 55. Challenges
  56. 56. Challenges Convincing “losses” to give you their time
  57. 57. Challenges Selling sales
  58. 58. Challenges Sales wants to own win / loss surveys But… you’re making sales life easier
  59. 59. Challenges Don’t chase 1 loss
  60. 60. Challenges Finding the time.
  61. 61. The Summary
  62. 62. The Summary Focus on the “losses”
  63. 63. The Summary Ask an array of questions
  64. 64. The Summary Share the results
  65. 65. The Summary Make sure to get “data”
  66. 66. Thank you Jordan Bergtraum

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