Value of Lost Deals
Amount of money the company is not going to earn due to a lost client.
What is Value of Lost Deals?
As well as knowing how much a company is earning from its current clients, it’s also relevant to know how much it’s not earning because of lost deals. If we are just losing a small part from what we are winning, maybe it’s not necessary to allocate resources into re-converting those lost deals. However, if the lost value is high - or the company simply needs money - it might be relevant to readapt the strategy to the situation.
A manager can also use this KPI as a measure for the sales department. For instance, to get some insight into the reasons why these deals are not converting. Sometimes it’s due to a matter of lack of motivation within the salespeople, while others it might be because of an issue with the product itself. In any case, the manager is responsible to understand the situation and make decisions according to it.
Depending on the size of the business, the period measured changes. In this regard, the lost value can be checked daily, weekly or monthly, as well as compare this month’s result with past ones, in order to check the evolution.
Pre-built widgets to display Value of Lost Deals
month
Value of Lost Deals
day
Value of Lost Deals
month to date
Value of Lost Deals
How to calculate Value of Lost Deals?
(
Sum(Lost Deal,Amount).Date(Lost Date)
)
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