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Why a Provider of Complex Industrial Products and Solutions Wins or Loses Bids

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A global maker of complex M2M industrial solutions had recently lost some contracts to smaller, seemingly more risky competitors. Finding that the company had no reliable, systematic process for analyzing wins and losses, they engaged Fuld + Company to conduct an analysis designed to understand how buyers made purchase decisions and to demonstrate what a win-loss process should look like.

Text of Why a Provider of Complex Industrial Products and Solutions Wins or Loses Bids

  • 1. Why a Provider of Complex Industrial Products and Solutions Wins or Loses Bids CASE STUDY

2. WHY A PROVIDER OF COMPLEX INDUSTRIAL PRODUCTS AND SOLUTIONS WINS OR LOSES BIDS WWW.FULD.COM Hindsight and Insight A global maker of complex M2M industrial solutions had recently lost some contracts to smaller, seemingly more risky competitors. Finding that the company had no reliable, systematic process for analyzing wins and losses, they engaged Fuld + Company to conduct an analysis designed to understand how buyers made purchase decisions and to demonstrate what a win-loss process should look like. Case Overview 3. WHY A PROVIDER OF COMPLEX INDUSTRIAL PRODUCTS AND SOLUTIONS WINS OR LOSES BIDS WWW.FULD.COM Sophisticated Win-Loss Analysis Key Business Challenges With commodities and discrete products, win-loss analysis is often straightforward, with sales success turning on a simple factor like price. Not so with highly engineered products embedded in complex solutions involving installation, startup, hardware, software, as well as managed and consulting services. The product is complex, the sales cycle is long, and many factors, weighted differently by different customers, go into purchase decisions. Bids are highly contestable and understanding what secured a win or caused a loss requires deep and nuanced information and analysis. 4. WHY A PROVIDER OF COMPLEX INDUSTRIAL PRODUCTS AND SOLUTIONS WINS OR LOSES BIDS WWW.FULD.COM A Lack of Objectivity Key Business Challenges The company had always made some effort to debrief prospects following a win or a loss, but the process was uneven and unsystematic. Further, these interchanges usually occurred in contexts that worked against candor and objectivity: The salesperson might be trying to pave the way for additional business. The prospect might be reluctant to be too hard on our client. The nature of the conversation itself, unstructured and casual, didnt penetrate deeply into the issues or encompass all of the many factors that go into a complex product and solution. 5. WHY A PROVIDER OF COMPLEX INDUSTRIAL PRODUCTS AND SOLUTIONS WINS OR LOSES BIDS WWW.FULD.COM The Rigorous Process The Fuld Approach Fuld + Company developed and delivered a rigorous, systematic win-loss pilot that: Provided valuable insights into current market perceptions of the companys solutions Created a baseline for an ongoing win-loss analysis program Demonstrated the value of systematic win-loss collection for the client Showed the company how a rigorous win-loss process is deployed 6. WHY A PROVIDER OF COMPLEX INDUSTRIAL PRODUCTS AND SOLUTIONS WINS OR LOSES BIDS WWW.FULD.COM From Analysis to Action on Many Fronts Key Business Impact With the results of the win-loss pilot in hand, the company can: Determine effective product/service differentiators and value propositions Pinpoint where sales tactics and messaging arent effective or addressing customer needs and priorities Understand competitor tactics and positioning in the product/service area, deal category, or geography Evaluate sales effectiveness with key customers Determine customer perceptions of the company vs. key competitors Assess strength and depth of key client relationships Illuminate pain points and potential future opportunities 7. WHY A PROVIDER OF COMPLEX INDUSTRIAL PRODUCTS AND SOLUTIONS WINS OR LOSES BIDS WWW.FULD.COM Beyond the Blame Game The Fuld Review Many people shy away from win-loss analysis because they fear that its goal is to fix blame for losses. A rigorous, systematic process can eliminate that dynamic by putting the focus where it belongs: on strengths and weaknesses of the offering itself, perceptions in the marketplace, and opportunities for improvement. A comprehensive process can also produce a robust, 360-degree perspective from customers to commercial operations to technical considerations. Instead of a report card, it provides an invaluable go-to- market tool that ultimately benefits everyone in the organization. 8. WHY A PROVIDER OF COMPLEX INDUSTRIAL PRODUCTS AND SOLUTIONS WINS OR LOSES BIDS WWW.FULD.COM Think a similar solution could work for your organization? CONTACT US fuld.com/solutions 9. WHY A PROVIDER OF COMPLEX INDUSTRIAL PRODUCTS AND SOLUTIONS WINS OR LOSES BIDS WWW.FULD.COM NORTH AMERICA Global US Headquarters 131 Oliver Street , 3rd Floor | Boston, MA 02110 | USA | +1 617 492 5900 EUROPE London: 20 Conduit Street | London W1S 2XW | United Kingdom | +44 (0) 7659 6999 ASIA PACIFIC Manila: 3402 One Corporate Centre | Julia Vargas cor. Meralco Ave. | Ortigas Center, Pasig City | Philippines | +63 (0) 706 3292 About Fuld + Company WHO WE ARE Since 1979 Fuld + Company have pioneered competitive intelligence, and today we work with leading companies worldwide to deliver the competitive and market insights they need to make better business decisions. We dont rest on our history and past successes. This means working hard to deliver uncompromising analysis that generates sound advice and earns us enduring partnerships with our clients. WHY CHOOSE US We are driven to expose our clients to insights about their industry, their competition and a changing market; designed to help avoid surprises and industry shocks. Through deep research, penetrating analysis and strategic gaming + advisory expertise, our team of professionals help you identify and solve tactical and strategic challenges. We help reduce the risks associated with business-critical decision making. COMPETITIVE + MARKET INTELLIGENCE Competitive + Brand Insights War Games / Competitive Simulations Market Analysis, Share + Sizing Supply Chain Mapping GO-TO-MARKET STRATEGY Brand + Product Positioning / Launch Support Product Portfolio Roadmap New Market Entry / Segmentation Value Chain Analysis Life Cycle Management Win / Loss Bid Support CORPORATE STRATEGIC PLANNING Early Warning + Scenario Planning Sales Force Effectiveness Merger/Acquisition + Licensing Innovation Strategy Business Model / Industry Convergence

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