Technology firms face the challenge of staying connected with their end customers as markets evolve. To maintain their competitive edge, it’s crucial for them to understand why they win certain deals and lose others. Our client, a global technology company, recognized the importance of having an up-to-date view of their sales pipeline and sought to identify opportunities to improve their value proposition and sales performance in order to win more deals.
Our approach involved conducting ongoing qualitative discussions with decision-makers globally involved in recent purchase decisions, to identify the reasons behind our client’s success and failure in the market. These unbiased conversations allow customers to be frank and honest about their experiences, views on the client’s offerings, and the competition. The insights gained include an understanding of the underlying business needs, providers considered/selected, key decision criteria, competitive analysis, solution insights, and likelihood to consider our client and competitive brands in the future. We developed a dashboard that includes hundreds of interviews and case studies, providing the client with a variety of search options to access cases that match specific criteria.
The information gathered through these conversations is used to develop targeted action plans for the client’s specific offerings, leading to enhancements in the value proposition, improvements in the customer experience, and an increase in win rates. Additionally, cross-disciplinary teams regularly review the discussions and develop action plans to address shortcomings in their product offering, marketing, and sales efforts. One such success story involved a sales team that salvaged a multimillion-dollar deal based solely on this research effort.