Do You Leverage Win-Loss Analysis to Improve Marketing and Sales Productivity?

As Henry Ford said, "Failure is simply the opportunity to begin again, this time more intelligently". However, how many of us actually take the time to learn from our mistakes as part of continuous improvement in our customer creation process? No doubt it can be difficult to admit where we have made mistakes, especially if we've lost money in the process! In fact, based upon a recent IDC survey, only 55% of large BtoB organizations have a formal sales win-loss analysis program in place. You may be thinking that you're one of the lucky companies in that list, feeling comfy with the fact that your sales reps are required to check a box in your sales force automation(SFA) system when they lose a deal to indicate the reason for that loss. Best-in-class players in this space will tell you that you're only kidding yourself into believing whatever the sales reps input into the SFA, if they even use your SFA.

If you're in sales operations, then you're in an ideal position to initiate a win-loss program.  If you're in marketing, then you're in a great position to increase your value add to sales by helping drive a win-loss program in collaboration with sales operations.  Here are a few of the things that best-in-class companies are doing as part of their win-loss analysis process:

• Quarterly review calls (or even weekly) to review select wins and losses (a fact-finding culture is key here, and not fault-finding)
• Roundtable sessions to discuss wins and losses, including root cause analysis and associated corrective actions
• Review of specific wins and losses with the buyer, conducted by an objective team either from within the organization, or ideally, by a 3rd party

A couple of key guidance points in setting up your win-loss analysis process:

1. Establish accountability for this process. (apply a RACI model and ensure global continuity; tap into your Sales Excellence team, marketing's data analytics team, and your field marketing organization)
2. Develop, execute and govern the process (collect data from multiple sources, ensure an objective party conducts the analysis, and focus on "fact-finding", not "fault-finding")
3. Deliver actionable recommendations as a result of this process. (e.g., better identify the buying team as part of account-based marketing activities; improve allocation of sales support resources to target the best opportunities (check out industry benchmarks); rapidly communicate competitive insight to your sales team through social collaboration)

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I'm Entitled

Mick should have been picking litter outside Mr Mundair's shop

Yes, we know: we can't judge our entire welfare system on the basis of Mick Philpott. But what we can say is that if it hadn't been for our welfare system, he wouldn't have been able to live like that. He wouldn't have been able to get a living from fathering 17 children. There wouldn't have been any benefit in cramming two entire broods into his 3 bed Council semi to boost his income and his case for a bigger house. The incentive simply wouldn't have been there.

We've blogged the issue of children as meal ticket many times (eg following the Shannon Matthews case). And to some degree it is an inevitable consequence of any welfare system that seeks to protect poor children from the fecklessness of their parents: we pick up the tab because we don't want the children to starve. But we don't have to sit back and accept that such parents can just carry on being as feckless as they like.  

Yet according to the welfare administrators in Derby, there was nothing to flag up Philpott and his domestic arrangements as being a concern. In other words, it was deemed perfectly acceptable for him to carry on taking the money and fathering even more kids. All that mattered was that the kids were not obviously being abused.

Why? Why when Philpott was clearly able-bodied, was he allowed to spend his entire life sponging off the rest of us? Because he wasn't some unfortunate casualty of the recession: come rain or shine, boom or bust, he'd always expected us to support him, and our welfare system did absolutely nothing to stop him. Instead of making the dosh conditional on him, say, clearing the rubbish strewn around outside Mr Mundair's Derby shop (and all those other neighbourhood jobs that never get done) he was just given the money. 

This appalling case highlights once again how the culture of entitlement has ramped up our welfare bills. And lest we forget, welfare spending doubled in real terms between 1990 and 2010. Doubled to over £200bn.

In the case of Housing Benefit, that's grown even faster, nearly trebling over the same period. And once again, entitlement has been driving up costs - the entitlement of recipients not just to a roof over their heads, but to remain in the same subsidised accommodation irrespective of how many spare bedrooms they have. And judging from the outcry over the government's attempt to tighten the rules, that sense of entitlement is deeply felt and shared across large sections of the media. 

Yet the government's rule changes are pretty modest, with prospective savings amounting to less than 5% of the total £24bn bill. They will certainly not result in widows and orphans being cast out into the snow.* As for forcing children of the same sex to share bedrooms, I personally shared a bedroom with my two brothers right up until I finally left home in my early twenties - it was no hardship whatsoever. 

Of course, much of the reporting we get on these welfare changes is filtered and spun by the BBC. The R4 Today programme did a great job of stitching up poor old IDS on Monday, getting him to claim he could live on £53 per week. It later turned out that their case study - a market trader who claimed he only gets £53 per week to live on - was being somewhat economical with the actualité, but by then the damage had been done.  And that stunt was only part of the BBC's big campaign against welfare reform, and indeed all Coalition attempts to curb public spending.

Which is hardly surprising, given that the BBC is Britain's biggest tax-funded business. Accountable to nobody except themselves, they are as steeped in entitlement as any Mick Philpott. And they can see that if the rest of us start asking the right questions, it won't be long before their £3.5bn subsidy will be seen as a luxury we can no longer afford. Best to stop such questions being asked in the first place, and hope their guys get back in 2015.

*Denham Senior recalls witnessing the eviction of an elderly widow from her home in the early 1930s. She was carted off to what had once been the workhouse, and her possessions were piled up on the pavement for passers-by to help themselves to. Nobody is suggesting a return to that, or anything even close.

PS How long has the BBC been using our taxes to advertise themselves on YouTube? Personally I find much more to interest me on YT than on the BBC's six (six!) channels put together. Yes, there are ads - ever more ads - but I'd much rather put up with them than the BBC's telly tax... especially when it's being used to advertise on YT. 

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Markets Lower After Disappointing Economic Data

Stocks are lower in early trading after some weaker than expected economic data.  The March
ISM Services index came in at 54.4, which was below expectations and down from last month's level of 56.0.

Additionally, the ADP Employment report showed the addition of 158,000 private business jobs in March.  This figure was well below consensus estimates.  We get the official jobs report on Friday, and it does not always follow the direction of the ADP report.

In early trading, financial stocks are the weakest while defensive utilities are holding up best.  The tech sector is faring 2nd best as stocks like AAPL and FB buck the weakness so far.

Overnight Asian markets were mixed.  China was slightly lower after Beijing officials introduced a 20% capital gains tax on property sellers to curb rapidly rising property prices.  But Japan shot up 3% overnight after BoJ governor suggested the need for bold action and reports that aggressive asset purchases will begin in January 2014.

European markets are weaker today after the Italian Treasury said it expects the country's GDP contraction this year to be worse than last month's forecast by about 1.5%.  That's a big dropoff and isn't going to help the debt crisis among peripheral Europe.  Italy is the biggest debt market in southern Europe so investors have been holding their breath that the wheels don't fall of in that market.

The dollar is lower today but that isn't helping commodities.  Oil prices are down near $95.50 and gold prices have declined near the $1570 level.  Ag prices are higher but copper prices are lower.

The 10-year yield is lower again and has hit 2-month lows at 1.82%.  The decline in yields normally would coincide with concerns about slowing economic growth, but with the Fed doing QE purchases this indicator may be skewed.

The volatility index is higher by 5% so far to the 13.51 level.  I still expect it to get back to around the 15 level if the market continues to chop around, but we shall see.

Trading comment: With slower economic growth, no pickup in Europe, and China trying to curb property price appreciation we might finally be at the point where the stock market is due for a little more of a breather.  The constant stair-step action has been surprisingly resilient.  But prudent investors know that it can't go on indefinitely.  We also have Q2 earnings season around the corner, so the next leg in the market could be dictated by what we hear from CEOs in terms of their outlooks.

KAM Advisors has long positions in AAPL and FB

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Good Article on 'Money' Advice

I thought this quick article had some good suggestions for money smart decision-making--

http://finance.yahoo.com/news/five-really-dumb-money-moves-you-ve-got-to-avoid-164637870.html

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Stocks Follow European Lead And Rally

Stocks are higher in early trading after a lackluster start to the new quarter yesterday.  In economic news, factory orders rose 3.0% for February which was better than expected.

Healthcare stocks are leading the early action after the Centers for Medicare announced a 2014 rate increase for prescription drug benefits.  Stocks like HUM, UNH, etc. are up more than 5% on the day.

Asian markets were mixed overnight.  Japan reported its monetary base expanded 19.8% vs. last year.  The Reserve Bank of Australia left its key interest rate unchanged at 3.00%.  They also said there may be room for more cuts as inflation remains tame.

Europe's markets rallied nicely this morning on the heels of some manufacturing data that was released.  Overall the eurozone manuf. PMI came in above expectations at 46.8.  Eurozone unemployment was reported at an all-time high of 12.0%.  French PMI was 44.0, Germany 49.0, Italy 44.5, etc.  The notable trend here is that all of the readings are still below the key 50 level that marks the difference between expansion and contraction.

The dollar index is higher today and weighing on commodities.  Gold prices are lower to $1580.  Silver and copper prices are also lower.  Oil prices are down near $96.48 and gasoline is also lower.  Gas prices at the pump here in LA are still above $4 a gallon, but hopefully the recent tick down is gasoline futures will translate into lower prices at the pump.

The 10-year yield is higher today to 1.86%.  And the VIX is down nearly 5% back below the 13 level.

Trading comment: This market continues to frustrate those looking for a better buying opportunity.  Many stocks remain extended on the charts but refuse to pull back.  The same can be said for most of the major indexes.  The S&P 500 is now within striking distance of its all-time highs from 2007.  That could lead to another round of buying or short covering.  The remains due for a correction, but the timing of which remains elusive.  Better to add to stocks that have at least consolidated recently while saving some cash to put to work if we do get a better pullback.

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Monday Morning Musings

Back in the saddle after some time off last week for spring break with the kiddos.  Time to shake off the cobwebs and get back in sync with the market.  The S&P 500 closed at new highs at the end of last week as the stairstep pattern continues.

The market started off the new quarter this morning slightly higher, but has since faded into negative territory after some weaker than expected economic data.  The March ISM manuf. index slipped to 51.3 vs. expectations of 54.0.

Economic data was also disappointing in Asia overnight, and led to some declines.  Japan's Tankan index fell to 6 (vs. 8 consensus) and China's manuf PMI came in at 50.9 vs. expectations for 52.0.

Markets across Europe remain closed for the Easter holiday.

The dollar is lower today, but commodities are mixed.  Oil is trading lower near $96 after reports that Exxon had to shit its Pegasus pipeline due to a leak.  Gold prices are firm, and hovering under the $1600 level.  Silver and copper prices are lower.

The 10-year yield was higher briefly but has turned lower and is testing last week's lows near 1.83%.  The volatility index is 10% higher so far near the 14.0 level.

Trading comment: It seems portfolio managers continued to put money to work right into quarter end and that helped boost the S&P 500 to a new closing high.  But today that strength has not carried over, at least so far.  We could see dip buyers surface again before the close.  Often times we see buyers come in on the first day of the new quarter.  Last quarter was one of the best in decades for stocks, so a repeat is unlikely in Q2.  Also, we have not seen much at all in the way of corrections in the market since last winter.  We think there is a good chance we get a deeper pullback sometime this quarter, but of course the timing of such is always the trickiest.  Some of this could come down to where we are in terms of investor sentiment.  I need to do a roundup of all the indicators we track, and will report updates during the week.

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Recent Bonfires - April Fools Edition

April 1st wind-ups

£4,800 for boob job - "WANNABE glamour model Josie Cunningham shows off her new 36DD boobs - served up on the NHS. Josie, 22, had a £4,800 breast op funded by the taxpayer after telling her GP that being flat-chested was causing emotional distress. The Leeds telesales girl said: “My new boobs have changed my life, now I want to be the new Katie Price". Despite earning just £9,000-a-year in telesales, Josie has made several trips from her Yorkshire home to get used to the celebrity lifestyle in London nightspots. She has also had chocolate brown highlights in her hair to copy busty Katie, begun a collection of Louis Vuitton handbags — and ordered a chihuahua puppy." (Sun 29-3-13)

£90k for prisoner sex change ops - "Two prisoners at a maximum security jail have used human rights laws to force taxpayers to foot the £90,000 bill for their sex-change operations. Both men are serving lengthy sentences at Full Sutton jail near York. Alongside the £45,000 cost of each operation, thousands more has been spent training guards to deal with the inmates’ new identities." (Express 22-3-13)

£16m for fatcat civil servants - "Fatcat civil servants at the Department of Energy were handed more than £16 million in bonuses and payoffs in the past two years. Taxpayers have funded exit packages worth more than £7.6 million since 2011, with some employees getting more than £100,000. And £9 million has been paid out in bonuses in the last financial year. Labour MP Pamela Nash said the payments were an “absolute scandal”. She said: “It is not surprising the Government are not tackling rising energy bills seriously when they can’t even control the bonuses.” (Mirror 30-3-13)


April 1st total - £16,094,800

(The joke being entirely on you)

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