Last week we looked at the sales & marketing software people use, this week we are looking at the metrics and data they look at to manage their growth.
1. Marketing Metrics are most used by B2C companies.
While 80% of B2C companies track Cost Per Lead and 75% track Customer Acquisition Cost, the most tracked B2B metric selected was Other. Looking at what members wrote in 90% put N/A or None, meaning they aren't really tracking anything.
2. Marketing/Funnel Conversion Metrics is considered the most important.
3. B2B Companies rely more on Sales Metrics
4. Most Members Manage Sales on Historic Data
When asked, "What is the most important Leading Indicator you track for managing your company's sales?" most member said that some form of Sales Results (eg. Revenue Booked, Units Sold or YOY Growth). These are historic, not leading indicators, meaning by the time they happen there is not much you can do to improve the situation. Many members did select Leading Indicators but for those who didn't here is a good article to read: Leading, lagging, or lost? How to Find the Right KPIs for Your Sales Team.
We are a few weeks away from closing out the GROWTH theme, our next theme will focus on MONEY. So look for a new survey coming your way!
I am excited for us to learn from each other as mentioned, our chapter seeks to increase member-to-member value through curating and creating valuable content that you care about. GROWTH is the first theme that will be unpacked for the next several months but over the year we will focus on 4 themes GROWTH, SCALING your operations, creating a winning STRATEGY and MONEY.
Feel free to reach out to me if you have questions!