With sales and make sure that you realign
Posted: Sat Dec 21, 2024 4:57 am
CAROLINE: expectations, goals if need be, and that you take the right measures, right, to adjust to new assumptions.
LAUREN: Yeah, absolutely. I mean, I would say that, you know, there's more, that changes throughout the quarter and you don't wanna wait until the end of it to figure that out. And so something that mobile number data base we look at for instance is, you know, we have several different sources of ops and pipeline. It might be marketing partnerships, you might have a sales outbound motion. You might have your own sales team of account executives that are sourcing some ops and pipeline. Each of those is likely going to convert at a different rate through the pipeline, right?
You're gonna see an outbound sourced deal that was a cold call, likely take longer to convert than somebody that comes to your website and says, I would like a demo, I'm interested in learning more about your solution.
CAROLINE: Right.
LAUREN: And so it's really important to be looking at this data and optimizing and revisiting and tweaking your assumptions and what you need to see, because if you're in a quarter and 50% of your pipeline is generated by outbound, that's great, but it might not close at the rate you need it to hit the revenue target that quarter. So you shouldn't necessarily be ringing the victory bell that like, wow, we did it, we hit the pipe target we wanted to hit.
And now we're definitely going to hit a revenue target because that might just not convert at the same rate as these other sources.So we typically have weekly meetings where all the sales and marketing leaders are taking a look at this data together to see how we're tracking. If conversion rates are off from what we expected, why that might be and what changes we need to make in the process.
CAROLINE: Awesome. Well, Lauren, thank you so much for sharing your insights with us today I really appreciate it.
LAUREN: Yeah, absolutely. I mean, I would say that, you know, there's more, that changes throughout the quarter and you don't wanna wait until the end of it to figure that out. And so something that mobile number data base we look at for instance is, you know, we have several different sources of ops and pipeline. It might be marketing partnerships, you might have a sales outbound motion. You might have your own sales team of account executives that are sourcing some ops and pipeline. Each of those is likely going to convert at a different rate through the pipeline, right?
You're gonna see an outbound sourced deal that was a cold call, likely take longer to convert than somebody that comes to your website and says, I would like a demo, I'm interested in learning more about your solution.
CAROLINE: Right.
LAUREN: And so it's really important to be looking at this data and optimizing and revisiting and tweaking your assumptions and what you need to see, because if you're in a quarter and 50% of your pipeline is generated by outbound, that's great, but it might not close at the rate you need it to hit the revenue target that quarter. So you shouldn't necessarily be ringing the victory bell that like, wow, we did it, we hit the pipe target we wanted to hit.
And now we're definitely going to hit a revenue target because that might just not convert at the same rate as these other sources.So we typically have weekly meetings where all the sales and marketing leaders are taking a look at this data together to see how we're tracking. If conversion rates are off from what we expected, why that might be and what changes we need to make in the process.
CAROLINE: Awesome. Well, Lauren, thank you so much for sharing your insights with us today I really appreciate it.