I have discovered several success factors when it comes to implementing the ‘drip’ method approach for win/loss research.
- Be sure that you have real-time access to contact information for recently won or lost accounts
- Devote a resource to regularly (at LEAST biweekly) updating a shared file that includes the following information for each account: company name, contact name/title, phone #, email address, location, type of account, salesperson, products considered, reason for winning/losing, special notes for anyone contacting this person
- Highlight any accounts that are a higher priority than others and any specific questions that you like to have information about (“What specifically did they prefer about X vendor’s mobile capabilities?”)
- Have a spreadsheet that captures key insights from each interview. This provides easy real-time access to key questions which can be shared internally and analyzed in between formal report cycles.
- Refine/revise the interview script as appropriate to reflect new realities for your customers, competitors, marketplace.
- Do a formal report at logical times: prior to a sales meeting where you want to present results, prior to key product roadmap decisions, prior to decisions about ad placement, etc.
By using this checklist, you can make the most of the research you are doing with recently won or lost prospects!