The metrics that matter the most are entirely dependent on the business and every business is different. Casey Stanton is the Founder of CMOx, a Fractional CMO, and the author of the Wall Street Journal #1 bestseller, The Fractional CMO Method. Casey highlights some of the most important KPIs in many popular industries, how to visualize them and what to do with them.
Takeaways:
- At the base, a lead looks like a form submission that has a first and last name, an email address, and maybe a phone number. Whereas, a Marketing Qualified Lead (MQL) is that lead then saying or doing something that makes them more qualified.
- Many different attributes can be used to further qualify a lead, such as checking a box to identify their problem, their income range, demographic data, etc. Often this is done by the lead self-selecting into a group but it can also be done by filtering through big data.
- Once an MQL is passed from the marketing team to the sales team, the MQLs that fit additional criteria from the sales team will then become Sales Qualified Leads (SQL).
- Among the many questions used to determine if an MQL is an SQL, the sales team will also try to identify the urgency of the lead, which is a big factor in becoming an SQL.
- Whatever the business that you’re in is, you need to know the relevant KPIs, track them, and eventually hand them off to other people that own them and marginally improve each metric every single month.
- Bottoms Up Sales Improvement is a process of continually optimizing funnels by making small changes over time at every step of the way to produce dramatic results very quickly.
- Using scorecards and dashboards helps you become more effective at solving bigger problems. These tools allow you to constantly monitor and make sense of the KPIs that matter the most to you.
Quote of the Show:
- “If instead, you build a strategy and then find the right tactics, you'll be successful” - Casey Stanton
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