If You Want Fewer Random Acts Of Marketing, You’ll Need More Detailed Quantitative Lead Metrics
Let me know if this sounds like your company: “Well, we did $19 million in sales last year, so this year let’s shoot for $30 million. We added a few more reps and we’ve been growing steadily over the past year. We like aggressive goals here. Let’s do it.”
Everyone on the management team looks at each other generally unsure about the goal, but they agree with the goal and head back to their respective offices.
There might have been some backroom discussions on the feasibility of a goal like this. Perhaps someone looked at recurring revenue or booked revenue for the upcoming year. Maybe someone did some math on the impact this goal will have on rep sales quotas.
But I’m guessing no one did any math around the current lead flow, pipeline conversion rates, the number of new leads needed and the marketing/sales budget required to hit these aggressive goals.