Also use this short article that follows the steps of the calculator to help answer any questions you may have about completing the calculator correctly.
Funnel Velocity is critical in determining how much sales and marketing activity you should be doing to hit your revenue goals.
Include new revenue from existing customers AND new revenue from new customers (but NOT any revenue from sales in a prior period.)
For the time period:
This is an average, so you'll need to make an estimate. The simplest method is to take the total new revenue from last year and divide it by the total number of new deals you closed in that same period. (Include all new sales, renewals, up-sells and cross-sells when calculating this number.)
If you aren't sure, use last year's, last quarter's or last month's figures as a guide. If your business is subjected to seasonal differences be careful and pick from a similar period in a previous timeframe.
Note that this ratio is just from the proposal to close stage. Prospects should be well qualified at this point. Typically close rates with existing customers are notably higher than new prospects. Example: If on average you win one in every three times, enter 33%.
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If you don't know this information, use the statement that best represents your firm and we'll use industry benchmark data to assist you.
When your sales people meet with a lead that has been identified as qualified, how often does that result in your firm submitting a proposal? It's possible, even likely, that salespeople will have multiple conversations and meetings with a qualified lead before submitting a proposal. This section covers all that activity.
Not sure? Pick the most relevant statement and we'll use industry averages to help you.
Cold calling is super hard, and getting harder all the time, especially in this digital era when buyers have access to so much information. Remember this is the percentage of cold calls that make it to become fully qualified, not just expressing some level of interest.
Example: If your sales reps need to make 50 calls to get 1 fully qualified lead, enter 2%.
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If you're not sure, pick from industry benchmark data below.
Often leads from events are lumped in with marketing. In this exercise we are asking you to split out leads from events from your digital marketing efforts. If you get leads from other "analogue" sources, such as print advertising, include it here too.
Not sure? Consider these industry benchmarks below. According to Sirius Decisions the percentage of leads coming from marketing varies greatly depending on the size of business that you target. The percentage of leads generated by marketing for:
Note: this data excludes when marketing assisted in generating the lead.
Events are often the first interaction between contacts and your sales reps. Many business cards are exchanged! But how many times does this result in a genuine hot, qualified lead? And not just a contact who isn't ready to buy yet. Make sure you only account for those leads that are really qualified.
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Just because marketing generates a qualified lead, sales doesn't always accept that lead. Sales might reject a lead from marketing for any number of reasons. Historically poor quality leads from marketing and incomplete contact information in the CRM are examples of typical reasons for rejection.
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With contacts in your database, it's marketing's job to continue to nurture leads and provide them with valuable, useful information, and to track their level of interest and engagement, so over time they become a qualified lead that's ready to talk to sales.
When working out conversion rates, think about submissions on your key offer landing pages or email sends for an offer to your database.
Not sure of the right ratio? Pick from these statements.
When someone visits your website, marketers must get visitors to stick around, engage with your site's content & fill in a form with their contact information (usually to receive something in exchange)
Specifically, what percentage of site visitors provide their name, and email address (at least) on a form or similar.
Not sure? Pick from the following statements and we will use the industry benchmarks to make an estimate.
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