Why do you Win or Lose?

Many have exalted in their victorious pronouncement - "we did it, we won!" 

Usually defined by some landmark and marked with a defeat of some adversary, the concept of winning and the human nature to win is as old as time.  In our daily lives in software marketing, we measure our wins and losses in closed and lost deals.  Sometimes the effect of a loss can distract more than the impact of the loss on the bottom line.  Ever heard someone talk about a lost deal and explain 12 different ways to 30 people how and why we lost, complain about the competitor's offensive game plan and the meeting that went south due to "complications?"  How about celebrating a win (too much) to the degree that we lose sight of the momentum we can create from it and how to use the value of the win most efficiently (and replicate other customer success)?

I believe winning and losing is a must-monitor metric and also must be celebrated, analyzed and acknowledged in any organization, especially software.

Losing - What did we learn? How can we limit our exposure to these type of losses?  How can we change our approach?  A simple 'why' here doesn't usually give you any tangible action items to work on.

Winning - What was the customer's perceived value and what product features were most important?  What insight did we get about the competitive positioning from their analysis?

Analysis is often constructed when we win.  We aim to get the new customer to do a win announcement, case study, detail the specific problems we're solving so we can communicate that to more prospects..."  Use objective and qualitative information here, as stats and building trends from static data is not as revealing to better construct and communicate the value people are placing on your technology, solutions, process, people or services. 

However, when we lose - it's usually not Marketing that is as eager to determine root causes and get knowledge about a loss, unless we lost to a fierce competitor who we continue to encounter.  But doing a loss-analysis is not as easy, prospects may not be as willing and the sales rep will generally move on quickly, providing the information he was given by the prospect as the causation of the loss - which generally does not provide a accurate view for the actual reasons. 

Doing a Win/Loss Analysis is ever more critical as businesses compete in a economically volatile and price sensitive market - I suggest having marketing call each won or lost opportunity, then offer an incentive for their time ($20 gift card to iTunes, amazon, Starbucks), inform them you are not in sales or are trying to sell them anything and that you are solely trying to update some information that would help us create better products and experiences in the future. 


Remain sensitive to time (20 minutes max) and ask pointed questions on a phone call or in-person if possible.  Note:  Do not replace with a web survey - you will not get good info and people will try to get through it, if at all!  Ask the most important questions first, as the time may be cut short.  You'll also find that information about your demo or your product will add to feature requests and wish lists - which can lead to a common theme or product-market fit deficiencies.  People may open up and some may provide very insightful info - others may blow you off - 50% success in getting anything is a good target.  Also, remember, read between the lines, they might have just chosen the competitor cause he took em on a golf trip to Myrtle Beach - so a sales interview with the lead sales contact first.

For ideas on a more rigid structure check out - http://www.pragmaticmarketing.com/publications/magazine/2/2/0403sd

Good Marketing, 

James