Sales Pipeline: WTF do we measure?
The pandemic changed everything.
All outside sales people became inside sales reps overnight and looked to marketing to help increase conversions and lead the greater impact on revenue.
Here are the top of funnel classifications that need a focus on measurable metrics.
Impression volume
Why it matters: Do your ads speak to the buyers pain?
View through conversion rates
Why it matters: Your ads should drive conversion by offering the main benefit.
Bounce rates by web page
Why it matters: Telling if your site have the best information?
Average time on web site
Why it matters: Do we have enough relevant information on our site?
Cost per click -
Why it matters: Is one platform over the other providing better value in terms of engagement and conversions?
Adding a few more pointers in continuation to the above,
Number of leads: This is the total number of potential customers that you have in your pipeline. It's important to track the number of leads to ensure that you have enough prospects to convert into customers.
Conversion rate: This is the percentage of leads that actually become paying customers. This metric can help you assess the effectiveness of your sales process and identify any areas where you may be losing potential customers.
Average deal size: This metric measures the average value of a closed deal. It's important to track this metric to ensure that you are maximizing revenue from each customer.
Sales velocity: This metric measures how quickly leads move through your sales pipeline. It can help you identify bottlenecks in the sales process and make improvements to speed up the sales cycle.