After doing several rounds of win/loss research, I realized that there is an amazing side benefit that happens almost every time I take on one of these projects. I have found that not all lost customers are REALLY lost. They may be tagged that way in your CRM by your sales team, but sometimes they just weren’t ready to buy yet [...]
I’m often asked, “Will lost prospects really participate?” when talking about conducting win/loss interviews. The answer is a resounding: “Yes!” The key is to offer lost prospects an attractive incentive that will catch their attention and make the interview worth their time. I have found that offering those contacts a choice of either an Amazon gift card or a donation to [...]
Sometimes new win/loss research clients will probe me about what value there is in interviewing won customers vs. only talking to lost prospects. Great question! Even though our instinct is to only talk to people who did NOT choose us to get the greatest insights, it’s very helpful, and important to talk to both losses AND wins. Your won customers went [...]