Using Win Loss to Win Back Business (After they have experienced the competition)

During our most recent webinar (hosted on 10/25/2007 and available for download here), Ron Sathoff and I talked about three of the biggest benefits of Win Loss. One of those points was the ability to win back business that was previously lost to a competitor.

At Primary Intelligence, we emphasize competitive intelligence that will help your sales, marketing and business development organizations create more revenue, strengthen competitive positioning and refine value propositions to be more effective than your competitors. Our goal is to provide your company with increased revenue through your sales and marketing efforts.

How do we do this? Primarily, we use Win Loss studies to measure competitive performance during some of the most valuable times; namely, when your company, product and sales performance are being compared with your direct competitors. We also take the opportunity to ask about the key loyalty drivers based on their current experience with their new vendor.

Using these data, combined with additional client satisfaction questions based on their current experience, Primary Intelligence provides a win-back index that helps prioritize sales and account management efforts with your lost deals long before their current vendor starts to worry about retention.

Imagine begin able to target your competitors’ defectors before the competitors can develop retention strategies.

One of our current health insurance clients said that using this system, they were able to win back 7 of 30 losses within 12 months of the initial loss. What would a 23% win back rate do for your company’s top line revenue?

If you have any questions, experiences or thoughts, let me know. I’d enjoy talking with you to understand how you achieve these same types of results. (cdalley@primary-intel.com, 801-838-9600 x5050)