I was chatting with some clients yesterday about the benefits of win/loss reviews. There are a few thoughts on if they are worthwhile or not.
Have a look at this short video Win Loss Review
After finding out if you have been successful in a tender, most people will go straight into delivering the product or service, without thinking about what the client liked / disliked about their proposal. Or will just move onto the next tender with a different client.
The information that can be gold regardless of, if you win or loose, will come from the client in the form of a win/loss review. This is the time that you can ask all the hard questions.
- How did we stackup against our competitors?
- Why did you pick the company that you did?
- What were the contributing factors?
- What value did you see in our proposal or our competitors proposal?
- What should we do next time to secure the business?
- How could I have moved from loss to win?
If you have responded to a tender and not received a win/loss review, my question to you is WHY?
Most companies won’t offer to meet with you, however if you ask. The information received could change your next proposal to be a winner.
So are win/loss reviews worthwhile, the answer is YES if you would like to know more on how your company and your tender responses are perceived.