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Lost Order Analysis

How would you answer these questions?

• Do you routinely talk to customers who didn't buy?
• Are you looking for new customers to replace lost customers?
• What is your bid and quote hit rate?
• Do you know what types of jobs have the highest and lowest hit rate?
• What is the cost of preparing a bid/quote?

What is Lost Order Analysis?

Lost order analysis is a systematic method of discovering why customers did not buy. Knowing why customers did not buy is critical in preventing future lost orders and maintaining a solid customer base. Lost Order Analysis highlights what changes in products or services are needed to gain and retain customers. Lost Order Analysis in specific information on pricing, service, competitor strategies, and even market trends to help you gain competitive advantage.

Benefits of Lost Order Analysis

• Serves customers instead of replacing them
• Show why customers buy from competitors
• Indicates changes that make you more competitive
• Wins more bids on profitable projects and higher hit rates

How can Phase 3 help me implement Lost Order Analysis?

We discover why orders are lost and help you win back "lost" customers. Together we identify what types of products have the highest hit rate and why. We also look at how much it costs to submit a bid to ensure that you bid on profitable projects your are likely to win. Knowing the costs of your products and services is a prerequisite to pursuing bids, because pursuing profitable bids is critical to your success. We help you create an on-going dialogue with your "lost" customers to ensure you know the reasons orders are lost and can then make appropriate adjustments to retain more customers. We look at service, quality, pricing, and product performance. In the process, we also gather competitive information.