Win/Loss Analysis
Discover why you win or lose deals with Challenger Loop
More than a third (38%) of deals are lost to no decision. Do you know why your customers aren’t moving ahead?
Most companies don’t spend time analyzing why they lose deals or get ghosted. For those that do, many rely on seller-reported data from their CRM. But sellers can be biased and reluctant to admit their mistakes, so these reports can be misleading.
Why getting customer feedback after a deal is too late
Some organizations send post-decision surveys to buyers to collect win/loss data. But after a decision is made, what incentive do buyers who abandoned a deal or went with another supplier have to respond? Little, if any. Customers don’t want to spend their time filling out a survey if all it does is help suppliers sell better to other buyers.
This means most sales organizations have to make assumptions about why they lost a deal. Often, sales leaders point to products, pricing, budget limitations, or unresponsive buyers as the culprit. Combine this with biased seller feedback, and you get incorrect, expensive decisions about sales strategy and coaching.
But the real reason behind a loss or no decision is often something that happened — or didn’t happen — in the purchase experience. If you can identify what that something is, and better yet, measure it, you can start coaching to the right problems and generating better outcomes. That’s why we created Challenger Loop.
How Challenger Loop works
Challenger Loop is a win/loss analysis tool that incorporates candid B2B customer feedback throughout the purchase experience to understand, from the customer’s perspective, why deals are won or lost. It’s the only customer feedback tool that offers real-time win/loss analysis and post-close B2B insights, delivering a 360-degree perspective on the quality of the customer’s experience.
It encourages customers to participate because the feedback is mutually beneficial and collected during the pursuit and then after the deal is won or lost.
Here’s how Loop benefits your customers and sellers:
- Customers have a voice so they can get the sales experience they want
- Sales managers get insights so coaching isn’t a guessing game
- Sellers learn how to pivot before a deal is lost
Armed with the voice of the customer, sales leaders can create better sales forecasts.
Sales managers can tailor training and coaching. Sellers can make better decisions. And buyers get the purchase experience they want. All of this leads to stronger customer relationships and higher win rates.
How Challenger Loop elevates sales performance
Loop is the missing piece for companies’ win/loss analysis and competitive intelligence. Built in partnership with Qualtrics, a market leader in customer feedback surveys, Challenger Loop uses best-in-class natural language processing and artificial intelligence to gather insights into the customer experience. Its evaluation criteria are built on the latest Challenger research into B2B buyer behavior and seller performance.
Sellers can use Loop to:
Leverage sentiment analysis to find out what your customers are thinking at every step of the sales process
Evaluate trends in your sales team’s performance over time with an overall customer satisfaction dashboard
Apply our advanced text analytics to determine the impact of topics on overall buyer satisfaction
Use our performance metric matrix to analyze sellers’ skills, identify coaching opportunities, and elevate the skills and success of your sales organization
Assess your competitive landscape by using our competitive intelligence tracking tool
Flag and address churn risks using Loop’s confidence metric, which identifies low purchase confidence when you win a sale
Maximize your win rate with our real-time feedback dashboard that helps sellers adjust their strategy before deals are lost
Why does 360-degree win/loss analysis matter for sales success?
Win/loss analysis is the process of determining why your deals were won or lost. Organizations that study their deals typically use a blend of various tools, manager observations, win/loss analysis templates, and strategies to come to a conclusion about why customers didn’t move forward with a deal.
Unfortunately, most of these insights come from the sales team itself, meaning they’re one-sided and biased. By leaving out customer feedback, they could be doing more harm than good. You may be losing valuable information about your prospects without even knowing it.
Loop solves this problem by measuring sales experience, seller skills, and competitive positioning using Challenger insights and technology.
What makes Loop different from other win/loss analysis tools?
Most traditional win/loss analysis tools only ask for feedback after deals are closed — when a customer’s incentive to respond is low and it’s too late to change their sales experience. Loop asks for live-deal feedback in addition to closed-deal feedback, so it can provide insights in real-time. This gives sellers a chance to change their behavior and recover the sale before it’s lost.
Additionally, Loop does more than just identify problems. Loop prescribes solutions. Its proprietary survey questions tie directly to key Challenger principles, making it easy to identify gaps in selling skills and take action to improve the overall quality of your sales team. It’s a smart complement to CSAT and NPS scores, which only measure customer satisfaction, because it adds metrics about the sales experience and seller skills.
Ready to create a truly differentiated purchase experience using world-class win/loss analysis?
Schedule a demo today and get in the Loop.