So many people these days work from the inside-out, making decisions based on internal opinions instead of buyer insights. Starting a Win-Loss program or project today will give you the information you need to counter-act baseless opinion, no matter how well-meaning. With your new program, you will hear, straight from your buyers, the actionable insights you need to make more strategic decision in your go-to-market actions.
You May Be Focused, But Are You Market-Focused?
Practicing Win-Loss means better understanding, from your customer’s standpoint, why they purchase product like yours. Specifically, with Win-Loss you can better understand the What, Why, When, How, Where and Who of your buyer’s purchasing decisions. This means that decisions are informed from the outside-in, something that is absolutely critical in business today. When this paradigm filters through all of your product and product marketing efforts, you are much more attuned to your buyers and the market at large.
Focus Your Product Team Efforts on What Really Matters
To some customers, features are like Lay’s potato chips. But realistically, building in every feature request without strategic foresight will water down your development efforts and leave you short on what really matters. Even if you build the best, ideal Product A, if your buyer was really looking for good-enough Product B then your efforts were wasted. Win-Loss can inform your product development with the insight that you can only get by hearing from your buyers.
Focus Your Sales and Marketing Team Efforts on What Really Matters
Everyone copes with limited resources these days, but Win-Loss can help you focus those limited energies on the efforts that will yield better results. With the insights gained by learning from your buyers, you can more surgically target prospects, craft more resonant messaging and make better-informed channel choices for your MarComm. This efficiency of focus will help keep your team pro-active and nimble in this challenging market.
Focus Your Sales and Marketing Team Efforts on Who Really Matters
As you push to expand your business, and as sales pushes to increase their numbers, it becomes more and more important to focus on the right buyer and the right time. Your buyer, user and sponsor personas need to be up to date and thoroughly battle-tested or you risk spending time on a go-nowhere prospect. Win-Loss can help you refine those personas so that instead of chasing the wrong buyer, you can focus on the right buyer.
Inform Every Stage of Your Product Development Cycle
A better understanding of your Buyer’s needs can inform everyone involved in your product development by providing an outside-in feedback mechanism that comes straight from the source. Numbers from SalesForce alone cannot yield enough information to best meet the needs of your buyers. Instead, you need to hear from them, in their own words, what they think of you, your products or services, your pricing, your sales process and more.