Aligning Sales and Marketing Measurement - Tracking KPIs that Matter
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The document discusses aligning sales and marketing measurement by tracking key performance indicators (KPIs) throughout the entire sales funnel. It recommends adopting a single, integrated view of prospects and leads as they progress from initial inquiry to opportunity to close won. Specific metrics are identified for each stage of the funnel, from acquiring prospects to converting marketing qualified leads (MQLs) to sales accepted leads (SALs) to qualified opportunities (SQLs) and finally to close won deals. Formulas are provided for calculating conversion rates between each stage to measure marketing and sales effectiveness.
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Aligning Sales and Marketing Measurement - Tracking KPIs that Matter
- 1. Aligning Sales and Marketing Measurement – Tracking KPIs That Matter Derek Grant Director of Sales
- 2. Hi, I’m @derekgrant A Little About FSU: • #8 Party School • #101 Best Colleges • 40% 4 Year Grad Rate University Motto: • “C Pares Gradu” C Equals Degree
- 3. Setting the Stage The Evolving State of Measurement
- 4. In the beginning Man Marketed… • …And it was good • All about leads • No closed loop I know half my marketing is working, I just don’t know which half.
- 6. The New Reality That which gets measured gets improved. Measurement is good • Justifying Budget • Developing Pipeline • Executive Visibility
- 7. Everyone Is Tracking Something 76% of B2B marketing professionals agree or strongly agree that their “ability to track marketing ROI gives marketing more respect.” -Forrester Research
- 9. Sales and Marketing Better Together
- 10. The Old Model • Separate Marketing and Sales Pipelines • Progress to sales was paramount • Lots goes in, little comes out Sales Opp Won Marketing Inquiry Lead
- 11. Become Best Friends • Complimentary relationship • End-to-end visibility • Marketing touches enable sales • Recycle & nurture dormant leads
- 12. A New Model • Single view • Progress can be tracked • Alignment of goals • Easy measurement Prospect MQL SAL SQL WON
- 13. Prospect to MQL The Marketing Funnel
- 14. Step 1 – Acquire Prospects Prospect MQL SAL SQL WON Inquiries Raised Hand What to Measure? • Form Conversions • Email CTR • Webinar Attendees • Tradeshow Scans
- 15. MQL – Have a common definition The Velvet Rope • KISS Principle Traditional Models • BANT • Explicit • Implicit • “Eyeball Approach”
- 17. Implicit Qualification Activities • Contact Me Form • Free Trial Not All Created Equal • Whitepaper v. Buyer’s Guide
- 18. A Blended Model Implicit Tradeshow Careers page White paper download Explicit Revenue GeographyJob Title VP of Sales North America Tech Company 500M 250 Employees Searched Pricing Buyer s Guide Contact Me Your ideal prospect
- 19. Step 2 – Assign Marketing Qualified Leads Sales Ready! What to Measure? • Number Unassigned • Campaign Optimization • Benchmark <10% Prospect MQL SAL SQL Won
- 20. Math For Marketers Prospect MQL SAL SQL Won Number of Assigned MQLs Number of Prospects
- 21. MQL to Close The Sales Funnel
- 22. Step 3 – How Many MQLs Were Accepted Prospect MQL SAL SQL Won Accepted or Disqualified? What to Measure? • Number Unqualified • Feedback Loop • Benchmark – 58%
- 23. Improve Your Chances for Conversion Respond Immediately • Steep decline after 5 minutes • 78% of inquires submitted on the web buy from the first vendor to respond Courtesy of InsideSales.com
- 24. Know When to Quit Touches Matter • After 8 calls, play the lottery • 8 touches moves “suspect” to “prospect” -Bridge Group • Recycle to Nurturing Courtesy of InsideSales.com
- 25. Math For Marketers – How Many SALs Prospect MQL SAL SQL Won Number of Assigned MQLs Number of Disqualified Leads
- 26. Math For Marketers – SAL Conversion Rate Prospect MQL SAL SQL Won Number of SALs Number of MQLs
- 27. Handling Lagging MQLs and SALs Prospect MQL SAL SQL Won Nurture leads back to life • Marketing rules-driven • Sales directed • Decay/reset lead score • Stage: back to Prospect
- 28. Step 4 – How Many Turned Into Opps? Prospect MQL SAL SQL Won Qualified Opportunity What to Measure? • Converted Leads • Filter by created date • Benchmark – 49%
- 29. Math for Marketers – SQL Conversion Rate Prospect MQL SAL SQL Won Converted Leads (SQL) Number of Accepted Leads (SALs)
- 30. Step 5 – How Many Were Won? Prospect MQL SAL SQL Won #WINNING What to Measure? • Contact Role by Lead Source or Campaign • Filter by created date • Benchmark – 23%
- 31. Math For Marketers – Won Opp Conversion Rate Prospect MQL SAL SQL Won Closed / Won Opps Converted Leads (SQL)
- 32. Math for Marketers - Don’t Forget the ROI Won Revenue - Expenses Expenses Prospect MQL SAL SQL Won
- 33. Questions
- 34. Title First Name Last Name @twittername