Professional Win Loss Research
Since there are elements of traditional market research techniques along with competitive intelligence tools, an outside firm can be useful in the gathering and/or the analysis of vital and sensitive information.
Often a consulting firm can approach customers, prospects and internal teams (your sales, marketing, engineering, production groups) in a less threatening manner.
While you may very well have the resources and capability to do most of this yourself, generally the most difficult information sought is obtained directly from your competitor!
- How can you ask that company to tell you how they beat you? (You cannot!)
- So here too, you will need external assistance.
Another benefit of engaging a third party is that it brings a certain objectivity to the process and makes it easier for insiders to commit to the common goal of winning more business.
Be sure to share results with sales staff and significant shareholders.
Apply what is learned via sales meetings, collateral and training.
Since questions and their answers will generally lead to even more questions, periodically return to your baseline metrics and repeat the process as needed.