#680 - Winning More Than Losing in Sales, with Andy Paul
Sales Transformation
Leadium
5.0 • 2.1K Ratings
🗓️ 1 August 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
Andy Paul and Collin Mitchell discuss the problem of low win rates in sales teams. The research that shows average win rates are only around 17%, and how this has become an accepted norm in many sales organizations. Andy argues that sales leaders need to care about improving win rates and focus on helping their sellers win more than they lose. He also emphasizes the importance of tracking win rates and conducting win loss analysis to understand why deals are won or lost.
Follow the Host:
Collin Mitchell (Partner, Leadium)
Our Episode Guest:
Andy Paul (Author, Sell Without Selling Out)
Sponsored By:
Leadium | The leader in outbound sales appointment setting
*If you'd like to be a guest on the show or have any questions, email us at guest@salestransformation.co - Just tell us why you're reaching out and we'll contact you as soon as we can!
Transcript
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| 0:00.0 | Today, Andy Paul digs into improving sales win rates. |
| 0:04.3 | Andy joins our host Colin Mitchell to discuss the alarming trend of low win rates in sales |
| 0:09.3 | teams and the need for a shift in mindset. |
| 0:12.1 | It's time sellers win more often than they lose. |
| 0:14.9 | Colin, take it away. |
| 0:16.9 | But then part of the problem is, you know, it's sort of become acceptable for teams to |
| 0:22.9 | have a low win rate or to have a very small percentage, which I would consider a small |
| 0:29.3 | percentage of quota attainment across teams. |
| 0:32.1 | Yeah. |
| 0:33.1 | What has? |
| 0:34.1 | I mean, you look at it not to pick on SaaS, but I mean, there's a perfect example of that. |
| 0:38.3 | But it's, you know, there was research done for some authors who wrote a book called |
| 0:42.4 | Strikingly Different Selling, the Franklin Covey Organization commissioned this third |
| 0:46.4 | party go out and do research about win rates and they interviewed 4,000 or 5,000 companies |
| 0:53.2 | like I know which one, around the world, multiple industry segments, B2B, and average |
| 0:58.7 | win rates were 17%. |
| 1:03.0 | And yeah, it's SaaS. |
| 1:04.9 | We see the arrange right in the teens to 20s, sometimes in the low 30s. |
| 1:10.2 | Yeah, people just sort of accepted this fact that we're just like a win a very high fraction |
| 1:16.3 | of our opportunities. |
| 1:17.3 | And it's mind boggling to me because then I had this conversation with my friend Dave |
| 1:21.8 | Brock, who I believe you know, and, you know, in our careers, when we were growing sales |
... |
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