If you're in the process of trying find the right Win/Loss provider, you probably have a number of criterion you're using to make your selection. This article will attempt to clarify all of the differentiators between Win/Loss vendors in the space. The differences between Win/Loss providers are vast, and so is the pricing. After reading this article you should be better equipped to make your decision.

Do they specialize in Win/Loss Analysis?

There are a lot of consultants out there who offer Win/Loss. And conversely, there are now a handful of firms who specialize exclusively in Win/Loss analysis. This is an easy one. You're almost always going to be better off choosing a provider who focuses exclusively on Win/Loss Analysis. Put it this way, if you were having surgery, would you rather it be performed by a generalist or specialist? 

Do they have their own software platform?

Once you've narrowed down the pool of providers to those who focus exclusively on Win/Loss Analysis, perhaps the very biggest difference amongst Win/Loss providers is whether they have built their own Win/Loss software platform or not. Win/Loss Analysis has been around for a long time, and historically it was a service offered by traditional consultants, not software people. In recent years a small number of software companies like Kaptify have built their own Win/Loss Analysis software platforms and now offering two things: 1) Win/Loss services and 2) A Win/Loss software platform. All things being equal, if you could choose between having services and software or only having software, you're better off getting both.

The depth of your insights are determined by the sophistication of your Win/Loss software. Better software = better insights.

What is the cost per interview?

Technically there a number of different sources that contain Win/Loss data. The big ones are surveys, sales-person feedback (CRM data), and customer interviews. But MOST of the value comes from customer interviews. Customer interviews are your bread and butter, and ultimately you want to get your hands on as many customer interviews as possible. For that reason, a helpful cost metric you can use to to evaluate Win/Loss vendors:

Total cost of program / Total number of interviews you'll be getting.

The "per interview" cost will tell you almost everything you need to know about whether the price makes sense (i.e. are you paying $500 per interview or are you paying $1,500 per interview).

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How do they measure ROI?

Measuring the ROI of a Win/Loss program can be challenging. The reason it can be challenging is because Win/Loss is an exercise of identifying lots of small insights, and fixing as many of them as you can. Individually, they're not very measurable. But collectively they do move the needle. But being precise about revenue growth attribution is hard. A good question to ask a Win/Loss provider is how much ROI you can expect if you engage them (I have to insert a shameless Kaptify plug here. We're unique in how we measure ROI because we've developed a system that sends about 25% of our loss interviews back into the sales pipeline to be re-opened. If some percentage of those are closed because of our interviews, the ROI from Kaptify becomes very clear).

How experienced is your account manager?

There are three different things to consider about the account manager.

1. Interview experience: The first one is their overall experience in conducting Win/Loss interviews, which is pretty straightforward. The more interviews they've conducted, the more experienced they'll be.
2. Do they feel like a representative of your company: The second thing is more subtle, but arguably more important. This person will be in face to face conversations with customers and potential customers. You need to be comfortable with their energy, their personal presentation style, and the overall feel the person gives you. Does this person feel like a natural extension of your team? Of is there a disconnect? This person will literally be representing your company to important potential customers.
3. Are they age appropriate: Are your customer young? Are your customers middle aged? Are they a mix of different ages? People share more information in Win/Loss interviews when they feel like they're on the same wave-length as the person they're speaking with. If you have someone who is 25 interviewing someone who is 65, the disconnect between those two worlds will be immense, and that disconnect means you'll get very diluted feedback. And of course the inverse is also true. If you have a 65 year old interviewing a 25 year old, there's also going to be a big disconnect.
   

What does the POC entail

Does the company offer a "proof-of-concept" period so you can try before you buy? If so what does it entail? Ideally you want to get at least a few interviews completed in the POC and see the results in their software platform.

Is there a contract length minimum?

Win/Loss programs do require some time to get off the ground. And because of that, many vendors have 12-24 month minimums. Or at least that's the justification used when selling the program. In reality, locking a customer into a 12 month contract reduces risk for the vendor, and creates predictable revenue for them. That's great for the vendor, but it shifts all of the risk onto the customer (you). We think the reverse model is much better. The vendor should carry the risk because that's how good customer service should work. And if the vendor shoulders the risk of you potentially leaving, it acts as a forcing function to to make sure they deliver for you every month, which makes them better and better over time.

How quickly are they innovating?

Win/Loss is a rapidly evolving space. Over the next few years the landscape of companies is likely to change quite a bit. Is this vendor leaning forward into that change? Or are they coming from an older world that changes very slowly? You can predict which companies are likely to be dominant in the future by asking them about how they're innovating in Win/Loss, and how forward leaning their software platform feels.