DRAPER, Utah, Dec. 15, 2015 (GLOBE NEWSWIRE) -- A new research report from Primary Intelligence finds that Win Loss programs are gaining momentum with B2B businesses, with 84 percent of B2B organizations engaged in Win Loss initiatives in 2015, up from 76 percent in 2014. One reason for this increase is the greater prevalence of competitors, with more B2B companies reporting "more competitors" in 2015 compared to 2014.
"Win Loss programs help companies identify best practices and root cause issues, allowing them to leverage what they're doing well while at the same time quickly correcting mistakes that are causing them to lose. We help our clients understand the underlying reasons they win and lose, which sets them up for future success," says Erik Westerlind, vice president of customer success at Primary Intelligence.
The new report, entitled, "The State of Win Loss: How Companies are Leveraging Win Loss Findings to Better Understand Buyers and Increase Organizational Win Rates," found that:
- 62 percent of B2B managers believe they need more Win Loss intelligence in 2015, an increase from 55 percent in 2014.
- One-third of B2B companies conduct Win Loss Analysis on all large and/or strategic opportunities; 11 percent conduct Win Loss Analysis on all sales opportunities.
- The biggest benefit of Win Loss programs is a better understanding of buyers, followed by a better understanding of the buying process.
- Most B2B firms with Win Loss initiatives (76 percent) use them to improve sales rep effectiveness.
- More third parties are collecting Win Loss information in 2015 compared to 2014—43 percent today compared to 34 percent one year ago.
- Nearly three quarters of organizations—72 percent—collect both open- and closed-ended feedback, with phone and online surveys the most popular methods for capturing open-ended feedback.
- While most Win Loss programs have been in place for three-to-five years, companies with Win Loss efforts in place for 6-to-7 years have the best annual revenue growth and profitability improvements.
- Most organizations are spending less than $25K annually on their Win Loss initiatives. However, organizations that spend between $50K and $100K typically have the best revenue and profitability improvements, higher win rates, improved sales rep effectiveness, greater product competitiveness, and improved marketing effectiveness.
Primary Intelligences offers strategies for effective setup and management of Win Loss initiatives, including:
- Ensuring Sales and Executive leadership is fully committed to Win Loss initiatives
- Introducing Win Loss programs as learning tools, not performance management tools
- Clearly defining program goals
- Sharing Win Loss feedback broadly throughout the organization
- Utilizing debriefing and discovery sessions
- Using Win Loss programs in conjunction with Customer Experience initiatives
- Automating the Win Loss process
- Tying Win Loss initiatives to ROI
This report is part of the Industry Insights series from Primary Intelligence. More information about the report can be found at: http://www.primary-intel.com/product/state-of-win-loss-2015/
ABOUT PRIMARY INTELLIGENCE
Primary Intelligence delivers outcomes for B2B marketing, sales, and product leaders. We teach you how to win and retain more revenue. Our Win Loss Analysis and Customer Experience Analysis solutions uncover the answers by speaking directly to buyers and sellers. It's all possible thanks to our TruVoice software, proven methodologies, and exceptional people.
Primary Intelligence clients include six of the Fortune 20 brands. Clients compete in over 30 vertical industries, including aerospace, business services, technology hardware and software, education, financial services, health care, manufacturing, and telecommunications.
To find out more about Primary Intelligence, please visit our website: www.primary-intel.com.