Chris Walker hosts weekly Private Coaching Events for Vault Subscribers, which opens with covering important and timely industry observations.
First, he explains that pipeline velocity is a key metric that combines four growth levers: the number of qualified opportunities generated, win rate, average deal size, and sales cycle length. Chris emphasizes that companies should not solely focus on generating more pipeline, but rather optimize the existing pipeline to drive accelerated growth.
Chris suggests several ways to analyze pipeline velocity. At a top-level, companies can look at the overall business performance and trends. They can also break down pipeline sources and compare the sales velocity of each source to identify the most effective ways to capture and convert demand into revenue. By analyzing the underlying drivers of pipeline velocity, companies can identify root causes and develop strategies to improve performance.
Chris also shares his thoughts on the common debate of whether declining win rates or pipeline quality is the root cause of growth issues. He believes that in most cases, it is a marketing issue related to pipeline quality rather than a sales team's performance. However, he acknowledges that external factors such as market conditions and competition can also impact growth.
Lastly, Chris provides insights on how marketers should report their progress on a weekly, monthly, and quarterly basis. He suggests focusing on high ROI activities and avoiding frequent strategy changes based on weekly data. Monthly reporting should focus on progress towards quarterly goals, while quarterly reporting should involve a holistic analysis of the entire revenue team's performance. Chris recommends hiring an external consultant for objective analysis and conducting primary customer research to inform decision-making.
