Win-Loss

Another component of a vigorous CVA program is Win/Loss surveying.

The Win/Loss survey is administered to either a census or sample of new customers to determine the critical factors in the selection of your company as a provider.

What is really drawing new customers to you?

And what drives your potential customers to your competitors?

In our experience, each department of the company, particularly the customer-facing organizations, want to take credit for new customers and each of them are often clamoring for increased budgets so they can do more of the same.

But you really need to know what the key factors are directly from your customers. This information will provide critical guidance on what is truly working and you can then fund appropriately.

Moreover, Win/Loss tells an organization on a real-time basis exactly what processes are vital to customers.

Imagine, if you will, your strategy if customers are won solely because of price incentives that will expire after six months (and your competitors are lower priced)? Or if customers are won only because your firm is considered the best of the worst?

Knowing what really drives customers is the heart of CVA. And it all begins with what brings customers to you and what drives them to competitors.