When a company loses an RFP to a competitor, most VPs of Sales will rely on their sales executives to find out why the deal was lost. Some companies have a formal 'Win-Loss Analysis' process in place that hires third-party research firms to discover the reasons why their company may be losing on deals.
The advantage for this is clear: You are undertaking a formal approach that asks specific questions to procurement staff or key decision-makers within client accounts that go beyond the anecdotal stories gathered by your sales executives. This information, when gathered over multiple accounts, can provide some insights into changes that your company can make to its product, marketing, pricing, and sales strategies to win new deals.
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