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Week 1 : Why did we lose deals last quarter?

  • 10 July 2024
  • 5 replies
  • 70 views

Our first huddle on 7/10 was a success!
If you missed it, check out the recording here to get up to speed on what to expect for the rest of the cohort.

 

Week 1 Exercise:

Navigate to Analytics → Flow

 

  • Find Closed Lost Deals Last Quarter
  • Segment by 2+ categories
  • Share takeaway(s) w/group

 

See video walk through of this exercise from Clari here. 

 

Step by step breakdown:

  1. Select date range = last quarter. 

 

  1. Select whether you want to use Opportunity mode or Product mode 

  2. Confirm the Amount, Breakdown, and Date fields are set as desired. Recommended setup shown below. 

    1. Add filter(s) to further segment your data. Example: Type (ie “New” or “Renewal”), Product, etc

 

  1. Click on the Closed Lost deals in Flow to open them in the Opportunity view 

     

  2. Group the Opportunities to slice the data different ways (ie Closed Lost Reason, Competitor, etc)

 

 

7.Share your takeaways below in the comments.

  • Need help troubleshooting in Clari?
  • Having data issues? 
  • Why did your team(s) lose deals last quarter? 

5 replies

amber-victoria
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Tip: Watch out for this “gotcha” as you’re starting the analysis: 

Pipeline hygiene: No stale deals

 

Your team’s pipeline should be up to date, with no close dates in the past. Run an opportunity report in Clari or Salesforce to check whether this is the case or not. If you do see close dates in the past, request your team to update them. 

 

Alternatively, consider excluding opportunities that fit into the outdated category from your closed lost analysis this week. If some opportunties are outdated, you run the risk of others being outdated a s well. 

 

What else have you encountered? Any more “gotcha” tips to share with the cohort? 

Amber Williams, Fractional RevOps @OpsNectar
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OK, sharing my (William) initial takeaways for the week 1 activity.

  1. We have bad data hygiene, there is a huge cohort of opportunities with no lost reason recorded.
  2. Price to high is the #1 Reason indicated.
  3. Non-responsive contacts is the 2nd highest reason indicated.
  4. 120 days seems to be the break mark, as almost 90% of all deals lost were over 120 days (which gives me more to investigate)
amber-victoria
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  1. We have bad data hygiene, there is a huge cohort of opportunities with no lost reason recorded. Great call out! Does your sales leader know about this? I would start requiring moving forward. Worst case scenario is you miss out on historical analysis.
  2. Price to high is the #1 Reason indicated. 👍🏻
  3. Non-responsive contacts is the 2nd highest reason indicated. Not responsive is a common reason I’ve seen too. In my experience, there is always something behind that curtain related to the business case and /or a miss in terms of the mutual action plan on the deal. If your Sales leader will buy-in, this can be a great place to implement more rigor into the sales process. 
  4. 120 days seems to be the break mark, as almost 90% of all deals lost were over 120 days (which gives me more to investigate) Oooh love this! Let us know where you end up 👀

@William Lauffer glad you shared! Others can relate I’m sure 😁  

Amber Williams, Fractional RevOps @OpsNectar
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I noticed that some of the lost reasons don’t make sense given the advanced stage. Looking at reason and last stage together was interesting.

amber-victoria
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@Stephanie Pisani interesting. Let’s dig into this in our next huddle!

Amber Williams, Fractional RevOps @OpsNectar

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