If you can’t demonstrate the ROI of a new initiative, you won’t have much luck getting budget this year.
At the same time, proving that win-loss and compete programs generate revenue is not always obvious.
Tirrah made her case by asking a simple question and doing some simple math.
“If we could improve our win rate by 1%, what does that equal and what does that look like?“
It turns out that a one-percent increase equalled a sizeable jump in revenue.
And with that possibility made more tangible by doing the math, Tirrah got the buy-in she needed from sales leadership, and the organization at large.
Marketing, Product, Demand Gen crave win-loss insights
Yes, yes, you should always start with sales with it comes to enabling your organization with competitive insights.
But at Community Brands, it’s the demand gen team that consumes the most compete and win-loss content after sales.
How does she use win-loss and competitive insights to enable that team?
“We do a ton of content ideas with our demand gen team: here are great blog articles and white papers that are going to complement all this information that we know from compete.”
Compete pros like Tirrah play a uniquely valuable role in their organizations.
The 360-degree vision of understanding what different departments want and need — and informing those needs with insights collected from prospects and buyers.
You can’t run a win-loss program on your own
This is not some kind of reverse psychology trying to motivate you to try it.
Tirrah tried to stand up a win-loss program by herself and it was, and I quote, “the most painful experience of my life.”
The skillsets required to perform win-loss analysis (interviewing, data analysis) are specific, unique and demanding. Not to mention the time and effort it takes to do them both effectively.
“I have talked to some folks who’ve done it internally and had some success because they had trainers come in and train staff on how to do win-loss interviews. For us, I’d rather just use experts externally, that’s worked fabulous for us.”
Save yourself the time and headaches and rely on the subject matter experts to get you the valuable win-loss insights you need.