Win-Loss Analysis Mission Portfolio: Medical Device Company Falling Behind
A major medical device company consistently fell behind its competitors getting its device adopted by major healthcare systems. It had success with smaller hospital groups, but it could not meet its revenue and profit goals on the backs of smaller providers. It needed to understand why it continued to lose deals with larger networks. Certainly, the competition was fierce and pricing tight, but this did not provide actionable methods its salespeople could use.
Through a series of interviews with decision makers representing both “wins” and “losses”, Aurora GPS was able to help this organization understand the differences between smaller and larger hospital networks. Price was not the driving factor (although that was the most common reason cited by the firm’s salespeople). Reliable delivery was key – the firm’s competitors knew this and emphasized it often during the sales process and in marketing literature. They provided guarantees and financial penalties (on themselves) if they missed their targets.
Using this information, the firm was able to quickly pivot its strategy to boost its focus on logistics and delivery. In fact, its delivery performance already outstripped its competitors, but they did not know to focus there. Within six months, the firms win rate improved nearly 25 percent, leading directly to three closed deals with major hospital networks.