Saima Rashid, SVP of Marketing & Revenue Analytics, highlights the importance of tracking lagging indicators such as pipeline generation, conversion to revenue, average selling price, and pipeline progression. Other leading indicators like web traffic, engagement metrics, reach and engagement scores, and campaign performance are also important to monitor.
Pipeline generation refers to the creation of potential opportunities and deals in the sales pipeline. It measures the effectiveness of marketing campaigns and lead generation efforts in attracting and nurturing prospects.
Conversion to revenue is a crucial metric that tracks how successfully leads and opportunities are converted into actual revenue. It provides insights into the efficiency and effectiveness of the sales process.
Average selling price (ASP) is another lagging indicator that helps assess the value of closed deals. It provides valuable information about the pricing strategy and the overall profitability of the business.
Pipeline progression measures the movement of deals through the sales pipeline. It helps identify bottlenecks and areas where deals may be getting stuck, allowing for targeted interventions to improve conversion rates.
By analyzing these lagging indicators, businesses can gain a comprehensive understanding of their sales and marketing performance. This information enables them to identify areas of improvement, optimize strategies, and make data-driven decisions to drive revenue growth and business success.