PSP Enterprises Reviews & Product Details

PSP Enterprises Overview

What is PSP Enterprises?

Since 1997, PSP has conducted thousands of customer win-loss interviews. PSP finds out how and why your customers make their competitive decisions and shows you the specific actions that will help you win you more business in the future. All PSP interviews are conducted by executive-level industry professionals. We put customer executives at ease and get them to talk. PSP’s confidential interviewing gets you the most candid and unbiased customer feedback. Conventional win/loss stops with an analysis of what happened in the past. PSP analytics forecast the revenue impact of competitive changes in the future—and help you optimize the competitive impact of your product and marketing investment.

PSP Enterprises Details
Product Description

PSP Enterprises interview decision makers who have made a recent competitive purchase in a high-tech market segment. We determine the buyer's key decision criteria and how the competing vendors stacked up against the criteria. We find out how customers make their decisions and WHY the customers rated vendors as they did.


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PSP Enterprises
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PSP Enterprises Reviews

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GC
Enterprise(> 1000 emp.)
Validated Reviewer
Review source: Organic
Describe the project or task the provider helped with:

While previously working at a mid-market enterprise software company I used PSP to study the key win/loss factors for a FinTech product (automated trading software, specifically) being sold into highly competitive mature and growth markets worldwide. Review collected by and hosted on G2.com.

What do you like best?

The most helpful outcome at the time was the quantitative analysis for both winning and losing factors, above and beyond the qualitative description of the buyer interviews. Sourcing the data from anonymous 3rd party interviews of both wins and losses within the potential customer base gave us an unbiased view of the truth that wasn't possible internally. But the bigger problem we needed to solve was the ability to apply that truth to the distinct reasons we won and lost deals, for instance by feeding those results into the marketing messaging and sales enablement collateral. Review collected by and hosted on G2.com.

What do you dislike?

Nothing to dislike. We did use the results to help create new go-to-market plans and tweak existing marketing and sales campaigns. What would have been further helpful at the time, which seems to be available now, is the further ability to model the revenue impact of changes to the product that could have swayed wins and losses on what turned out to be the key competitive factors. This would be useful as both a product development input, and a business case input for sales. Review collected by and hosted on G2.com.

What problems are you solving with the provider? What benefits have you realized?

The key benefit we realized was the ability to create competitive sales and marketing messaging for campaigns against specific competitors. We noticed that our main competitors had competitive messaging against our product, and we needed to equip our sales teams with they same capability to sell against known competitors in key accounts. Review collected by and hosted on G2.com.

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Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
Describe the project or task the provider helped with:

PSP has done outstanding win/loss consulting for us this year. We compete in a very fast-growing and fragmented industry where we had trouble getting details on the true capabilities of our many competitors. We wanted to know what we could do to improve our win rate in sales, inform our brand/marketing message planning, as well as our product management and strategic acquisitions teams. PSP did blind/anonymous interviews for us and provided executive analysis to our VPs. Review collected by and hosted on G2.com.

What do you like best?

PSP has done outstanding win/loss consulting for us this year. We compete in a very fast-growing and fragmented industry where we had trouble getting details on the true capabilities of our many competitors. We wanted to know what we could do to improve our win rate in sales, inform our brand/marketing message planning, as well as our product management and strategic acquisitions teams. PSP did blind/anonymous interviews for us and provided executive analysis to our VPs. Review collected by and hosted on G2.com.

What do you dislike?

PSP provides executive interviewers and the service is priced accordingly. It is worth what you pay because with their experience they can have a detailed and nuanced conversation to elicit good information vs. just following a script. Review collected by and hosted on G2.com.

What problems are you solving with the provider? What benefits have you realized?

We needed better insight into our wins and losses and PSP delivered. We are using the results in our marketing messaging, competitive analysis, go to market strategy and sales process. Review collected by and hosted on G2.com.

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GH
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: Organic
Describe the project or task the provider helped with:

We use PSP to do win/loss interviewing and competitive consulting. They interview our customers and find out what we did right and wrong and what we can learn from the competition for next time. Compared to the post-mortems we had done ourselves before using PSP, what we are learning is night and day. Review collected by and hosted on G2.com.

What do you like best?

First and foremost, PSP is a fantastic business partner. They’re easy to work with, sharp as hell and always available and eager to help us apply what they’ve found out in our sales training as well as marketing and product planning.

The quality of interviews is impressive. They ask the executives we sell to for 30-40 minutes of time but usually get a full hour, and use that time intelligently to cover all the bases and drill down into the issues which really made a difference to the customer. It’s all unscripted and shows that PSP did their homework to study our product and industry, which is pretty specialized. The transcripts are detailed and very specific about how we can improve our selling as well as our product.

PSP’s analysis and executive recommendations are also excellent. Every point they raise is a specific issue with smart suggestions, many unexpected, about what we can do. There are no generalities or arm-waving. They showed us what’s statistically significant and what’s not, and backed up every point with multiple customer quotes.

I also want to highlight PSP’s interview batting average. I used another agency to do win/loss at another company, and it was like pulling teeth to get customers to agree to interviews and we had to do a lot of the work. With PSP, I give them a list of contacts and they do the rest, getting interviews with around 1/3-1/2 of the contacts I give them. And that’s with blind interviews where the customer doesn’t know who is paying for the research. The other agency had us introduce them and they still struggled to get the interviews done, which was extremely frustrating. Review collected by and hosted on G2.com.

What do you dislike?

Nothing - these guys are great - highly recommended. They don’t advertise this, but PSP also have very good ideas about how to do sales training and efficient ways to gather competitive feedback from salespeople. Review collected by and hosted on G2.com.

What problems are you solving with the provider? What benefits have you realized?

We have leveraged win/loss in product marketing (competitive training, customer journey, messaging, branding), product management (new feature prioritization and ideas), and sales (new hire training, quarterly training, competitive alerts). It’s something I consider now a core part of the way we run the business, and based on field feedback alone, the program has paid for itself many times over. Review collected by and hosted on G2.com.

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MC
Enterprise(> 1000 emp.)
Validated Reviewer
Verified Current User
Review source: Organic
Describe the project or task the provider helped with:

As a leading mid size enterprise software company, we hired PSP Enterprises at first to do a blind and anonymous win/loss study of 16 interviews for one product line. The results were well received so we extended the contract for that product line and over time added three more product lines to the program. We also sponsored interviews for our ISV partners to help them improve their competitiveness, which in turn, helped us win more deals. In all, PSP did over 200 interviews for us while I was on the CI team. Review collected by and hosted on G2.com.

What do you like best?

The win/loss program was a big hit with our global sales organization. Salespeople were very eager to see what customers said in interviews of their own customers and they liked to compare their experience and get ideas from reading interviews of other rep’s deals. We made battlecards and sales training based on what we learned and because the salespeople knew where the information came from, they trusted and used them. Review collected by and hosted on G2.com.

What do you dislike?

No complaints. The work was always done very fast and quality was excellent. Review collected by and hosted on G2.com.

Recommendations to others considering the provider:

When designing the interview guide, don’t make too many fine-grained criteria or you won’t see patterns appear until you do many more interviews. Keep the criteria reasonably high-level and look to customer comments to discuss why an issue is coming up and causing you to win or lose. Review collected by and hosted on G2.com.

What problems are you solving with the provider? What benefits have you realized?

It was very broadly used throughout the company. Inside the CI team, we used the results of win-loss to produce our own competitive sales training and support materials, some internal-only (e.g., battlecards), and some customer-facing. Our product marketing team used win-loss reports and analysis to define and prioritize market messages. Our Sales Engineering team in North America reorganized, based on win-loss feedback. Our product management teams used it to guide decisions and design of product features and demo development. Our corporate development team used it for due diligence on acquisitions. The analyst relations people showed industry analysts what we had found. Investment relations used it to present to financial analysts. Review collected by and hosted on G2.com.

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