Using Deal Loss Reasons for Tracking and Reporting

Track the reasons your team is losing Deals to identify trends and strategize ways to rectify certain areas where opportunities fell short.

It's a no brainer that sales leadership will need visibility into why Deals are getting lost - assigning Loss Reasons will make these insights easily available. It's also super insightful having this visibility on a rep to rep basis so individuals can identify personal trends with Deals they fail to close.

Creating a culture of recording Loss Reasons establishes rep accountability, while providing sales managers with more insightful and detailed reporting. Use these particular insights to implement new processes, better understand your prospects and the market, or strategize initiatives to target common Loss Reasons and ultimately win more Deals.

 

This article covers: 

 

How Deals Loss Reasons are used?

We'll prompt users to assign a Loss Reason every time a Deal is moved to the Lost Stage of the pipeline, as long as Loss Reasons are enabled on your account. 

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Creating Deal Loss Reasons

First, an Admin on the account will need to activate Loss Reasons.

  1. Navigate to Settings
  2. Deals
  3. Loss Reasons
  4. Next to the option "Ask users for Loss Reasons?", select "Yes" 

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To add a new Loss Reason, simply click "+Add Loss Reason"

 

Tracking Deals Loss Reasons

In addition to Reports focused around Loss Reason insights, you can add Loss Reason to Smart Lists to see why Deals were lost. From your main (working) Deal List, an existing Smart List, or a new Smart List you create simply add the "Loss Reason" field to your list to see more!

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Deals Loss Reasons Reports

  1. Deal Loss Reasons - see a visual summary of why deals are lost in a specific timeframe
  2. Loss Reasons by Source - highlight why deals are lost based on where the deal came from 
  3. Loss Reasons by Owner - Is one team member losing more deals than others due to specific reason? Find out!

 

Tips & Tricks

1) Create a multitude of options to ensure all scenarios in which a Deal may be Lost are provided as options. Be thorough.

2) Don't create an 'Other' Loss Reason as a catch-all. This data is hard to manage and results in unusable reporting.

3) Try not to get Loss Reasons confused with Unqualified Reasons (unable to contact, inaccurate or incorrect data, no purchasing authority, etc.)

After customizing your Loss Reasons, next time a Deal is moved to Lost, the person moving it will be prompted for the reason why!

 

Start Customizing Loss Reasons