Win Loss Study
With no discernible pattern of why it won and lost RFP opportunities, Workscape’s Outsourced Benefits BU (now a division of ADP) asked GMG Insights to conduct Win/Loss interviews to gain greater insight into the process.
GMG conducted interviews with heads of benefits administration for both new customers and lost prospects to:
- Gain intelligence on the competitive features, pricing strategies and core value propositions as interpreted by prospects that were considered critical to the decision making process.
- Understand specifically what criteria and perceptions lead to a purchase decision.
- Explore whether there was an opportunity for a different outcome in the case of lost business (was there a way to create doubt about the eventual winner?)
- Determine if there were patterns of perception and behavior that were essential to winning business or consistent with losing business
The initial baseline study provided insights that lead Workscape to completely revamp the initial sales presentation to better address the concerns of prospects and clearly differentiate its value proposition. (GMG drafted the revised presentation). Additional Win/Loss interviews over the course of the year yielded additional value for Workscape when GMG was able to identify a predictable pattern for what types of RFP methodology lead to Workscape wins and which lead to Workscape losses. With this knowledge Workscape was able to vet review methodology before undertaking an RFP response, responding only to those with the preferred methodology and saving time and money spent pursuing unlikely opportunities.