Categories Articles, Sales and Marketing

Your entire company wants to pitch in and help the sales team achieve their lofty revenue goals. Marketing, engineering, and customer service are all committed to helping sales by building the best product, marketing it well, and creating happy customers.

However, just saying that every department will support sales is different than really committing to specific, measurable goals. Change is hard to enforce unless you agree to track your success over time with metrics that tie back directly to those goals.

As a sales leader, you need more than a verbal commitment that your colleagues will help the your team close more deals this quarter. Instead, you should be tracking performance metrics that will align your entire company with sales goals. With the right guidance and enforcement, everyone can work together to drive revenue growth.

Engineering: Usage of New Product Features

As engineering works hard to build a great product that prospects want to buy, they should also be constantly looking for feedback from current customers. Many engineering teams use agile development techniques that allow for quick pivots and rapid iterations on new products. However, engineering doesn’t know what to build without an in-depth knowledge of customer usage and demand.

Usage Data

In this report, engineering can easily see exactly how current customers use your product today, and who are the most active. You can drill down further to see which pages are the most popular across customers, and which features are used the most. Engineering should also work closely with customer service to get feedback on what features customers would like to see built into the product next. Customer usage data can guide engineering, so they can continue to build and improve your product — and drive more people to buy it.

Marketing: MQL Conversion Rates

Marketing is working hard to hit a specific MQL goal according to your Service Level Agreement. They’ve committed to providing the sales team with a certain number of high quality leads as defined by specific criteria. If your company has implemented a lead scoring system, marketing probably has a good understanding of which leads are higher quality than the rest. However, they should also do a retrospective analysis to understand which MQL sources lead to the most Closed-Won deals.

Marketing Campaigns

In this report, you can see that specific marketing campaigns are far more likely to convert to deals in the long-term. For example, the “How to Save Time” fact sheet is a great performer. By understanding which MQL sources are the most powerful, according to the data, marketing will be able to focus more intently on the campaigns that are more likely to deliver revenue down the line. In addition to the total MQL goal, make sure marketing is also held accountable to a revenue goal that ties back directly to their activities.

Learn More About Measuring Sales and Marketing Metrics »

Service: Upsell Opportunities

Your customer success team can also help drive sales results by giving you a heads up when an existing customer is primed for an upsell. However, how do they know when it’s a good time to reach out to that customer? Partly, it is just based on their continued engagement with customers over time, but there are also metrics that can help you spot sales opportunities.

Customer Renewals

In this report, service reps can quickly see when specific customers are up for contract renewals, and which customers are at the highest risk of churn. This report is based on data including engagement with your service team and size of the renewal. With this information in hand, your sales reps will be better equipped to approach existing customers and pitch an upsell at the right moment.

In today’s highly competitive market, it’s not just about sales and marketing alignment anymore. By tracking these specific performance metrics across engineering, marketing and service, your entire organization can become better aligned with sales goals and help drive growth.

 

Subscribe to InsightSquared's Blog

     

Get InsightSquared's latest Sales & Marketing Analytics blog articles straight to your inbox.

 

Recommended Posts

Leave a Comment

Start typing and press Enter to search