What is your favorite childhood snack? What's something that just like isn't a nostalgia bomb for you? Oh my gosh. Do you remember Dunkaroos?
Yes. Yeah. Dunkaroos. I feel like it's all sweet stuff.
The popsicles that were in the clear little tubes that you had like squeeze out and they got full of juice, bomb pops, like, oh my gosh. 90 snacks were just like top tier. Next level. Welcome back to Stacking Growth Snacks.
I'm Steph Kreniola and I am here with Ashley Lewin, Senior Director of Demand Generation for Refine Labs. And we are here today talking about Demand Generation dashboards and KPIs. So Ashley, I'm excited to talk about this because there's a lot of technical, technical stuff that we're going to get into. But backtracking from that, before you make any changes, you have to make some mindset shifts.
So what needs to change in your mindset with inbound demand generation reporting before you even think about making a move? So first of all, this is my favorite topic. I could geek out and talk about this for hours. But first and foremost, I think the biggest switch from a philosophical standpoint is zooming out and looking at demand generation as a holistic business outcome versus a highly segmented channel specific outcome.
So what I mean by that is typically, lead gen is going to be very focused on what was the cost per lead, but how many leads did we get? This is going to be very channel specific and this is going to be very granular. And having granular reporting is needed at a certain level. But when you're reporting on the demand generation and switching from a lead gen to a demand-gen strategy, you need to zoom out and you need to look at it from a business outcome and primarily looking at it in terms of first and foremost, the sales funnel.
So we're looking at it from truly a sales lens. This is where you're going to see the biggest impact and then you're going to dial back from there. You're going to have what I call onion peels. You think of an onion in all the different layers.
So you're going to peel back those onion layers and those will get you into the dirty, dirty reports. But again, the biggest piece is you need to look at it at a holistic business sales funnel perspective. I like the idea of onion layers feeding into this snack food idea. Can you break down traditional lead gen reporting versus how we recommend reporting on inbound demand from your website?
Is there a tactical approach to once you've switched your mindset? How do you actually break down the switch? Yeah. So when you're doing a traditional lead gen one, I always look at it as I think most marketers have found themselves in the depths of an overly complicated revenue model.
And so that revenue model is a robust Excel spreadsheet that has, oh my gosh, so many rows of different numbers and different conversion rates. And it's essentially trying to back into the overall number, which in theory is the right approach. It's just, it's really hard to do it in actuality and it over-complicates the process. So when I see this, I see like you have your overall revenue.
I'm going to stick to inbound here for this conversation. We'll say the sale or the financing gives you an inbound revenue number. Then you're going to go back in spending and maybe lay your day with sales data. It may not.
So you might have like quote or like capacity from sales reps, how many sales reps you have, etc. Then you get to the marketing section and it gets to, okay, well, if we have a conversion rate of, let's say 1% of M2L to win or M2L to S2L or however you're modeling it. And then it starts to back him into that lens. The problem is that once you start to continue to scale as a company, I've sat in this myself, you're going to get to a slot.
We're going to need like 20,000 M2Ls per month. That is not possible, nor is it efficiently responsible. So that's a big thing. So when you're looking at reporting, the reporting really reflects that from a lead gen standpoint.
So it's looking at what's our M2L to win in conversion rates, what's our cost per lead, all those different things. Now when you flip it and you look at it from a demand gen per se, you're going to be looking at it holistically. You're going to be looking at it blended. I think this is a really hard approach when you are doing that switch, especially when you're reporting on a lot of sales, final metrics too.
And there's this mindset of, well, that's the sales team. I can't impact that. I don't like, how do we do this? But you do impact it and it takes just a little bit of a shift from your mindset perspective.
You're going to be looking at it in a different lens and I'll get into the nitty gritty of what I mean of looking at it from a different lens. It's really about making that mental shift before you even start because it's going to feel like you're doing less or getting less. But in reality, the team is getting more. Does that feel like an accurate?
Absolutely. And with this as well, before we even get into the reporting, the reporting compliments us, but you're going to need to switch your goals. And the goal switching is going to have to happen at a company level. So, okay, ours, even like the CEO is going to need to be on board with this switch from a reporting standpoint and goal setting perspective as well.
So it's moving the team away from M2L to different models and reporting and this goal setting and this report will showcase what that goal should be. But that's the first most important thing to do is that you need to switch your goals and then the reporting over those goals as well. Perfect. Alright, Ashley, we're going to get right into some tactical things, but that'll be on the next episode.
So we'll see you then.