A win/loss analysis is a conversation with prospects or customers where you identify why you won—or lost—a particular opportunity. The ultimate goal of the conversation is to gather information to help you win more deals in the long run. How do you gather unbiased information? How can you leverage technology? What mistakes should you avoid? Bill Storey covers it all in this episode of Sales Reinvented.

Outline of This Episode

• [1:17] What is win/loss analysis and why is it important?
• [1:43] The insights you can gain from a win/loss analysis
• [3:55] Common mistakes salespeople make with win/loss analyses
• [5:17] How to make sure the feedback you gather is unbiased 
• [6:18] Best practices for conducting win/loss interviews 
• [8:15] The role of technology in win/loss analysis
• [10:12] Top three win/loss analysis dos and don’ts
• [12:07] Every win/loss analysis yields different results

Resources & People Mentioned

• Zoom
• Microsoft Teams
• Calendly
• REV

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A win/loss analysis is simply having a conversation with your customers and prospects about their perception of your company versus the competition. You want to cover every part of the sales process. Did you address customer problems and goals with the proposed solution? Doing a win/loss analysis the right way will help you gain a competitive advantage. But what is the right way? Ellen Naylor—a pioneer in the field of competitive intelligence (CI) and Win/Loss analysis—shares her strategy in this episode of Sales Reinvented.

Outline of This Episode

• [1:11] What is win/loss analysis and why is it important?
• [1:53] Common insights you can gain from a win/loss interview
• [2:50] Common mistakes salespeople make and how to avoid them
• [3:50] How to make sure the feedback you gather is unbiased 
• [5:10] Best practices for conducting win/loss analysis 
• [9:47] Should we be compensating the customer for their time?
• [10:36] The role of technology in win/loss analysis
• [12:26] Top three win/loss analysis dos and don’ts
• [15:25] Use a win/loss analysis to inform change

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Conducting a win/loss analysis is about spending time at the end of a sales cycle to extract some feedback from the customer you’ve interacted with. It can help you learn what went well and where you can improve. It’s immensely valuable. You have to make numerous assumptions in the sales cycle. 

This allows you to park the assumptions and get honest feedback from your customer and then take action based on that information. Conducting a win/loss analysis is one of the best ways to improve your sales. Learn more from Cian McLoughlin in this episode of Sales Reinvented!

Outline of This Episode

• [1:01] What is win/loss analysis and why is it important? 
• [2:39] The common insights sales teams can gain
• [3:44] Mistakes to avoid when conducting a win/loss analysis
• [7:06] Create an environment where the customer can be honest
• [9:25] Best practices for conducting win/loss interviews 
• [11:04] What role does technology play in win/loss analysis? 
• [13:00] Cian’s top three win/loss analysis dos and don’ts
• [15:38] You can’t rely on assumptions without testing them

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Referrals are when existing customers, friends, colleagues, or associates share that there’s someone you need to know that would value a relationship with you (and you’d find value from the relationship with them). They’re the best type of lead that salespeople can get. But there’s a right way—and a wrong way—to start the referral conversation. Joey Coleman shares what you should do in this episode of Sales Reinvented!

Outline of This Episode

• [1:10] What are referrals? How do they help in sales? 
• [1:45] Common mistakes for salespeople to avoid 
• [3:07] How to leverage social media and online tools
• [4:16] Advice for salespeople exploring referral-based sales
• [6:23] How to measure the success of a referral program 
• [11:16] How Joey approaches asking for referrals
• [14:31] A best practice most organizations miss
• [16:17] The role of technology in referral selling 
• [17:42] Top three referral selling dos and don’ts
• [21:43] When a referral conversation goes terribly wrong

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