Losing to a Less-Experienced Competitor
Client “A” was losing large, multi-million dollar deals in the final rounds of an expensive and lengthy sales cycle. The client was under enormous financial pressure from their parent company and was both concerned and perplexed, because the winning competitors had far less experience in serving customers than the client.
Krill Northgate conducted a Win/Loss study, including confidential interviews with the prospects who were lured away by the competition. We obtained the prospects’ confidential vendor evaluation and selection criteria, as well as the prospects’ candid, unvarnished explanation of why the client’s competition won the sale.
Our research and analysis revealed that the market required a segmentation strategy, with greater emphasis and pursuit of a high-end product and commensurate price point.
The client increased their win rate by 66% and decreased their sales costs by introducing a new market targeting strategy accompanied by stricter sales targeting criteria.