CRM data is messy. Seller intel is imperfect. And new customers can sometimes be hesitant to really tell you how they feel.
But if you’re struggling to get the organizational buy-in you need for win-loss, collecting these data points, drawing actionable insights, and repeating the exercise quarter-over-quarter will help get the ball rolling.
Also, I really buried the lede here.
The two stats off the top are from our newly released research report When the Pie Shrinks.
We surveyed 300+ directors, VPs, and execs to find out how they’re competing in today’s hectic economy.
Turns out three-quarters of everyone we talked to are using win-loss analysis to compete.
You should too.
Three Takeaways with John Horn
Pretending you don’t have competitors hurts the business
“If you’re thinking about the world as one without competitors you’re missing potential opportunities.”
If you’re not contemplating what your competitors are up to, it becomes impossible to effectively differentiate against them.
John says you need to invest in competitive intelligence and make your next move better than theirs.
AI is the future of compete, but for now…
“AI is fantastic because there’s no way a human could keep track of all that intel themselves. But to predict where a competitor is going to go in the future, it’s not quite there yet.”
AI isn’t (yet) sophisticated enough to replace the need for human curation of intel, and decision-making based on that intel.
Especially when it comes to dealing with uncertainty and quick pivots from the competitor.
However, every competitive enablement pro can now do their job faster thanks to AI. Use this extra space and time to make better decisions instead of expecting the machine to do it for you.
Operationalizing competitive enablement is the key to success
“We don’t get to practice business. But war games and these exercises do allow you to practice. They force you to actually have that external view and to think about it the competition.”
Start small, launch a minimum viable product, and iterate. A simple way to start small is by running war gaming and other simulation exercises.
Just the act of getting a group of colleagues together and getting them to strategize about the competition is a step in the right direction.
Don’t boil the ocean. Start small and build from there.
Coffee & Compete Community Corner
Messaging 101: choose a clear POV, be consistent — don’t deviate.
Spend too much time trying to be all things to all people at all times and you’ll accomplish none of those goals.
Here’s what the queen of messaging Emma Stratton has to say on the matter
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