In this interview, Andrew Peterson, the founder of Clozd, shares his journey and the inspiration behind creating the company. The discussion delves into the significance of Win Rate and how even a slight improvement can have a substantial impact. The definition of “Win Rate” is explored, along with best practices for collecting the necessary data to calculate it and ways to segment Win Rate data.
The conversation also covers the question of who should take ownership of Win Rate as a Key Performance Indicator (KPI) within a business. It’s highlighted that customers hold the true insights in win-loss analysis, as opposed to salespeople. An illustrative example is provided where a company employed Clozd’s services and gained insights that led to a 30% increase in their fees.
The concept of the ‘win-loss maturity curve’ is introduced, discussing how companies progress from conducting their own win-loss analysis to eventually engaging third-party services. The interview further touches on the reporting integration between CRMs and the Clozd platform, as well as key functionalities offered.
The conversation shifts to how the platform validates lead/source attribution and incorporates AI capabilities both now and in the future. The ideal customer for Clozd and their pricing structure are also discussed towards the end of the interview.
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[:20] We start out by unpacking Andrew’s journey and what led to starting Clozd.
[2:30] Why Win Rate is so important and how a small improvement can make a big difference.
[5:00] How “Win Rate” is truly defined.
[8:00] Best practices for tracking the data necessary to calculate Win Rate and ideas how to parse out Win Rate based on other segments.
[11:30] Who within the business should own Win Rate as a KPI.
[18:00] Why customers are the source of truth in win-loss analysis, not salespeople.
[24:41 An example of a company who deployed Clozd and the insights they were able to get to raise their fees by 30%.
[27:00] The ‘win-loss maturity curve’ and how companies move from doing win-loss analysis with buyer feedback themselves to hiring a 3rd party.
[31:30] How reporting is handled between your CRM and the Clozd platform along with an overview on other key functionalities that they include.
[34:10] We discuss how lead/dead source attribution is validated through this approach as well.
[37:45] Where AI comes into their platform now and in the future.
[41:00] The ideal customer for Clozd and how they charge for the platform.
Connect with Andrew:
Clozd website – https://www.clozd.com
Andrew’s LinkedIn Profile – https://www.linkedin.com/in/andrewatclozd/
Connect with Derrick:
These interviews are also available on Derrick’s YouTube page – https://www.youtube.com/channel/UCFfMnGtGWVrzO3BorCimojw
Derrick’s LinkedIn – https://www.linkedin.com/in/derrickis3linksales/
Derrick’s Instagram – https://www.instagram.com/derrickis3linksales/
Derrick’s Twitter – https://twitter.com/derrickis3link
Connect with The Show:
The Sales Consultant Podcast Home Page – https://3linksales.com/the-sales-consultant-podcast/
The Sales Consultant LinkedIn Page – https://www.linkedin.com/company/the-sales-consultant-podcast