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A win/loss analysis is simply having a conversation with your customers and prospects about their perception of your company versus the competition. You want to cover every part of the sales process. Did you address customer problems and goals with the proposed solution? Doing a win/loss analysis the right way will help you gain a competitive advantage. But what is the right way? Ellen Naylor—a pioneer in the field of competitive intelligence (CI) and Win/Loss analysis—shares her strategy in this episode of Sales Reinvented. Outline of This Episode [1:11] What is win/loss analysis and why is it important? [1:53] Common insights you can gain from a win/loss interview [2:50] Common mistakes salespeople make and how to avoid them [3:50] How to make sure the feedback you gather is unbiased [5:10] Best practices for conducting win/loss analysis [9:47] Should we be compensating the customer for their time? [10:36] The role of technology in win/loss analysis [12:26] Top three win/loss analysis dos and don'ts [15:25] Use a win/loss analysis to inform change Connect with Ellen Naylor Connect on LinkedIn The Business Intelligence Source Connect With Paul Watts LinkedIn Twitter Subscribe to SALES REINVENTED Audio Production and Show notes by PODCAST FAST TRACK https://www.podcastfasttrack.com
Hear it Here - https://bit.ly/ExtractInfo00:04:28 Elicitation Practice If none of the above work, that's where the practice of elicitation comes in.00:08:15 Ellen Naylor in her 2016 book Win/Loss Analysis wrote about six specific elicitation techniques to get people talking.00:08:27 Recognition Practice Human beings are social animals.00:10:56 Complaining Technique This technique works with something else fundamental to human beings: how much we love to complain!00:15:45 Naïveté Technique In the same vein as the above, many people can't help speaking up when they believe that someone is not wrong exactly, but merely trying to understand, and it's their job to clear things up for them.00:17:57 Shift The Window This technique is a little more dramatic than the others, and may take a bit more practice, or otherwise being more familiar with the person in question.00:21:42 Silence Practice This last technique may not seem like the others, but in many cases, it can be the most powerful of all.00:25:05 Episode Takeaways • Analyze the answers to these questions cautiously, and remember to place everything in context. Note how they answer, not just the content, and also not what isn't said. Use extrapolation to draw conclusions about what their answers say about them in a more general sense. • Questions needs to be iterative and responsive to the context and the answers you've already received. Also think about behavior online and in emails, or “read” a person's possessions or home the way you would their body language. Use these observations to guide your questions.• Elicitation leads you to the information you're looking for, without it seeming that you are. • Developed originally by the FBI, these techniques are really just ways to carefully work around conversational and societal norms to your advantage. They are effective because they work with human being's natural social and behavioral tendencies.• For example, one tendency is towards recognition, or social connection. Use compliments or accurate observations to foster a rapport with someone or strengthen your connection. • You can also elicit information by encouraging people to complain, and in doing so, reveal something previously hidden, or else tap into the human need to correct someone's error. Sued skillfully, most people cannot resist joining in on a complaining session or correcting an “error” you make.• Playing dumb or using naivete or ignorance will also encourage some people to try to educate you, and share vital information, especially since you will seem so non-threatening. • Finally, one technique is to say something quite dramatic to “shift the window” and then act as though nothing has happened; subtly, you may well elicit a revealing response. Silence can also be used effectively, since it encourages people to fill the gap with the information you want to know. #AccurateAssessments #AccurateObservations #AwkwardTension #BehavioralTendencies #Beliefs #BenignSituations #ComplainingTechnique #ElicitationPractice #EllenNaylor #IndirectQuestions #NaïvetéTechnique #SilencePractice #PuttingYourQuestionsIntoContext #RussellNewton #NewtonMG #PatrickKing #PatrickKingConsulting #SocialSkillsCoaching #HowtoExtractInfo #Secrets #andTruth/home/russell/temp/questions/questions-brown-and-black-wooden-blocks-10412820-Sara.jpg
In our latest SCIP IntelliCast episode, we sit down with CI guru Ellen Naylor for:Tips on probing deeper on information requests to surface the real needNavigating difficult conversations on challenging subjects with internal/external stakeholdersHow to get intelligence from any conversationElicitation best practices
Sometimes people either aren’t willing to engage or not good at opening up themselves. You can blast past this by using forms of elicitation, in which you put forth a topic or question in a way that a person will feel compelled to engage or elaborate. These take the form of prompting the person to reply to your recognition, encouraging mutual complaining, assisting your naiveté, and correcting your incorrect assumption or information. Better Small Talk: Talk to Anyone, Avoid Awkwardness, Generate Deep Conversations, and Make Real Friends By Patrick King Get the audiobook on Audible at https://bit.ly/BetterSmallTalk Show notes and/or episode transcripts are available at https://bit.ly/social-skills-shownotes Learn more or get a free mini-book on conversation tactics at https://bit.ly/pkconsulting For narration information visit Russell Newton at https://bit.ly/VoW-home For production information visit Newton Media Group LLC at https://bit.ly/newtonmg #AvoidAwkwardness #naïveté #Ellen Naylor #recognition #RussellNewton #NewtonMG #PatrickKing #WinLossAnalysis #BetterSmallTalk #naivete #Elicitation
Maximize the impact of your buyer interviews with this expert advice from speaker, competitive intelligence expert, CEO of Business Intelligence Source, and author of Win/Loss Analysis, Ellen Naylor. Listen in on how to master the art of conversation and pick up helpful interview tactics you can use to formulate the right questions, collect the right data and use your interview results to take the right actions. Takeaways: Look out for your own bias when conducting interviews because it may interfere with the outcome. Having a third party conduct the interview helps keep the bias out if your data. Win/loss is the process of interviewing your customers. Your goal is to understand what their buyer journey was and how to make it better for them. Today the buyer journey is very long. 80% of the buyer journey is done before your customer even calls sales. Use your win/loss analysis to look at service issues, your company reputation and product attributes. Win data has the potential to give you information about your competitors and sometimes loss data can actually give you surprisingly good feedback. You will benefit the most if you do win/loss interviews on a regular basis. Don't just do an interview once and expect you'll have all the information you'll ever need. Know your goals and what you are trying to accomplish. This will help you determine who you are going to reach out to and interview. Links: LinkedIn: https://www.linkedin.com/in/ellennaylorcolorado/ Twitter: @EllenNaylor Website: ellennaylor.com Ellen's Book: Win/Loss Analysis: How to Capture and Keep the Business You Want
In episode 44 of the Get Published Podcast, Host and 13-Time Bestselling Author Paul G. Brodie interviews Ellen Naylor about her author journey and entering competitions to promote your book.
Ellen Naylor joined us to talk about the importance of strategy, as well as understanding the system of Win Loss Analysis. Not only is Ellen the author of the book Win Loss Analysis, but she also works closely with organizations to help them understand what the customer is looking for, and how to implement it. To learn more about strategy & leadership, visit our blog: http://www.smestrategy.net/blog Working on your strategic plan? Get your complete starter kit here: http://www.smestrategy.net/strategic-planning-starter-kit
What if a secret sauce for winning more business was available? Would you use it? It turns out there is one: win/loss analysis. Ellen Naylor, a pioneer in competitive intelligence and win/loss analysis, and the author of Win/Loss Analysis: How to Capture and Keep the Business You Want, shares her tips and tricks for increasing your company’s positive outcomes using win/loss success. For more on win/loss analysis, be sure to read Competitive Intelligence Gathering Through Win/Loss and visit Ellen Naylor’s website. And check out when our courses will be in your area.
In this episode I interview Ellen Naylor of Business Intelligence Source. Ellen outlines the concept of Cooperative Intelligence and shares examples from her career as a practitioner and CI consultant.