W E B C A S T S E R I E S. Win/Loss Analysis is a Key CX Component. September 28, :00 pm ET / 11:00 am PT

Transcription

1 W E B C A S T S E R I E S Win/Loss Analysis is a Key CX Component September 28, :00 pm ET / 11:00 am PT

2 Featured Speakers Pat Lysak President & CEO Bill Bradley VP, Marketing & Business Development

3 CEMDNA Playbook Strategy

4 Best Practices in Win/Loss Analysis: Reduce Churn and Increase Win Ratios Pat Lysak President & CEO

5 Impole Company Overview Leader in Market & Account Insight Account Level Development Thought Leadership - Proactive Tactics Advice Diverse Vertical Markets, Global Reach Account Buy Cycle & Sales Effectiveness Focus Support Global Best Practice Companies High-Caliber Staff applying heuristic business experience and analytics

6 Focus of this webcast Net New Renewal Win Patricia R. Lysak President and CEO Impole Corporation Loss x1160

7 Reasons Companies Implement Win/Loss The customer buying process is rapidly evolving, almost radically, driven by customer Want to improve CX Why renewing Or not? 7

8 Benefits of Win/Loss Analysis Learn organization s strengths & opportunities to improve Tool in Customer Experience Provides competitive advantage 8

9 Win Reasons: From Net New Surveys Surveyed Wins From Surveys (Renewing Customers) From Surveys (Net New Losses) 100% Product Capabilities Needs Understanding 25.0% 37.5% Quality of Service/ Solution Pre-Existing Relationship 20.8% Technical Support Product Capabilitiesw 12.5% Service Delivery Pricing 16.7% 12.5% Reason #7 12.5% 12.5% Vendor Relationship With Client Vendor Size/Stability/ Reputation Need for Service / Solution 8.3% 8.3% 4.2% 12.5% 12.5% Price/Value No Opportunity** N = 168 9

10 Loss Reasons: From Surveys and Sales From Surveys (Customers) Surveyed Losses From Surveys (Net New) All Losses* From (Sales) 100% Pricing 22.2% 37.5% Pricing 29.0% Pricing Product Capabilities 22.2% 22.2% 37.5% 17.4 % Initiative Cancelled or on Hold Needs Understanding Existing Relationship Services Delivery Other 22.2% 22.2% 16.7% 22.2% 11.1% 16.7% 5.6% 11.1% 5.6% N = % 12.5% 25.0% 12.5% 12.5% 12.5% 12.5% 12.5% Solution does not meet needs Competitor had superior solution Cancelled/On Hold Internal (DIY) 11.4 % 7.2 % 7.2 % 6.6% 3.0% 2.9 % N = 2,859 Project Cancelled DIY Poor Understanding of Needs Duplicate / Error Competitor Had Superior Solution Solution Does Not Meet Needs See notes for detail 10

11 Wins vs. Losses: From Surveys Client Business Impact Measures (Scale: 1-7), Average This suggests differences between how wins and losses perceive various attributes Importance of Specific Requirements Importance of Product Capabilities Importance of Vendor Reputation Importance of Needs Understanding Importance of Meeting SLAs Likelihood to Recommend Client (Scale: 1-7), Average Sales Team Ranking (Scale: 1-7), Average Wins Losses 11

12 Drivers and Information: Survey Results from Net New Accounts Business Drivers Sources of Information Improve Performance 37.5% Almost 1/2 of respondents cited existing or pre-existing relationship with Client as their source of information Over 1/3 of respondents looked to recommendations (peer, consultant, analyst) Analyst 31.6% Lower Costs 21.9% I Existing Relationship 31.6% Reduce Risk Driver #4 Driver #5 Driver #6 18.8% 9.4% 9.4% 3.1% N = 236 Almost 1/2 of respondents cited Improve performance as #1 theme as a driver Almost 1/3 of respondents indicated Lower Costs as #2 theme Peer Website Blog/Article Consultant Pre-Existing Relationship 10.5% 10.5% 5.3% 5.3% 5.3% N = 236 Survey respondents may indicate more than one answer for each of these questions 12

13 Survey Demographics (cont.) Deals Analyzed by Segment (Where Available) 100% Segment #1 40.0% Segment #2 40.0% Segment #3 20.0% Deals Analyzed by Industry Surveys N = 165 Surveys by Country Retail Trade Finance & Insurance 6.3% 6.3% Government 12.5% Services 50.0% Canada 25.0% 75.0% Manufacturing 25.0% USA N = 170 N = 170

14 How to Establish a Win/Loss Program Understand business drivers Socialize & gain organizational approval Develop objectives Shape program to achieve objectives How to structure program: online/phone quantitative/qualitative Anticipate how the organization will handle results 14

15 Considerations for Best Practices Organization s Objectives Research Tools Intelligence Reporting Organization Culture Functional Learnings 15

16 Understanding Organization Objectives Tool in Customer Experience Learn why organization s loss rate is increasing & to improve Provides competitive advantage 16

17 The Organization s Culture Willingness to embrace learnings How results are digested by the organization Short term or long term gain 17

18 Reporting the Information & Learnings By individual account For supporting detail Consolidated results For micro & macro trends Competitive Analysis Product/Services Analysis Strengths & Weaknesses in selling process 18

19 How to Succeed with a Win/Loss Program What can go wrong and kill the program before it succeeds? Examples of success Accounts pending, not lost Process improvements 19

20 Key Learnings Understand objectives first Obtain organization approval Institutionalize & sustain the program 20

21 21

22 Using Stakeholder Communications to Tell Your CX Story Bill Bradley VP Marketing & Business Development

23 What Makes Your Company Successful? Your products and services? Features and benefits Performance Pricing Core technology/innovation No! It s your customers! How satisfied and loyal are they? How likely are they to continue to buy from you despite all the other choices?

24 Customers Employees Partners/Suppliers Investors/Shareholders Even prospects Who are Stakeholders?

25 Examples of Stakeholder Communications Customer Satisfaction Annual Report CX Case Studies/ Customer Testimonials Voice of the Customer Video CX Infographic

26 More Examples Public Relations Social Media Competitive Satisfaction/ Loyalty Analytics CX Certified Report Card

27 Summary Capitalize on your most valuable asset: excellence in customer service & support Attract more customers Retain more customers Grow customer share of wallet Win back lost customers Win more and lose less!

28 Thank You! Q & A Pat Lysak President & CEO 781/ x 1160 plysak@impole.com Bill Bradley VP, Marketing & Business Development 978/ bbradley@omegascoreboard.com

29 Requests for Information Bill Bradley VP, Marketing & Business Development Omega Management Group Corp. Tel Check for upcoming webcasts at