What is the best snack you have in your house right now? And best is doing a lot of work in this question. So if you had to go to your cabinet right now, what would you pull out? So I recently made my grandma's famous homemade chocolate chip cookies.
I'll give you a little bit of a secret. The secret ingredient has vanilla pudding in it. And they are just so delightful. And I don't know how much longer they're going to last my country.
Welcome back to Stacking Growth Snacks. I'm Steph Crenola. And I'm here with Ashley Lewin, senior director of Demand Generation for Refine Labs. And today we are talking about Demand Generation dashboards and KPIs.
All right, Ashley, let's get into it. So what does a dashboard look like? Can you walk us through the metrics and the definitions? This is where we get those nitty gritty details of what we're actually looking at here.
Absolutely. Hi, everyone. I'm super excited to talk about this topic. I could talk about it for hours and hours and hours.
So let's get into the tactical pieces. If you have a notebook and pen or your notes out, pull it up. We're going to give you exact pieces here. So we're going to start with what I would say is at the top of your report.
Like if I'm envisioning a Salesforce report or dashboard right in front of my eyes, this is going to be what comes first. And it's first of you have to be reporting on your inbound closed revenue. No way of getting around this. This is the lagging indicator that you definitely need to have a pulse on.
So you're going to want to look at your inbound closed one revenue. I like to look at it by quarter. And then by month, you should be doing big strategy shifts per quarter. But it's good to have a great pulse on it by month.
But there can just be some swings there. So that's why I recommend looking at it from a trend perspective on the quarterly lens. So you're going to be looking at your inbound closed one revenue per quarter per month in terms of number of closed one deals and then the monetary amount as well. So those will be the two different ones.
So essentially, you're going to have four different reports on inbound closed one revenue. So that's going to be your lagging indicator right there. Then to feed into that lagging indicator is you're going to be looking at your qualified pipeline per quarter in by month as well. Again, all of these reports are going to have a breakdown for the most part of quarter in by month.
And so you're going to be looking at this from a number and then a monetary amount as well. You're going to want to know how much you are feeding that funnel so that you can close by now. Qualified to me is your deal stage that converts that 25% or greater. I see this kind of waiver from company to company, but having that threshold and a quality metric just allows for more predictability and pipeline coverage.
So that would be step number two right there. And then to feed that pipeline number, you're also going to need to have the number inbound high intent conversions per quarter in per month. This is just a number amount. So high intent conversions could be anything like scheduled demo, contact sales, depending on how you're using your chatbot, things like that.
So these are things that we know are very high intent that they convert very well from an inbound perspective. You're going to want to have that as well. Then from there, you're also going to have some other metrics that will feed into this as well. It's really good to have a closed check on.
You're going to have your inbound high intent conversion rate. This is an average I like to do it based on a rolling six month average. So what is that high intent conversion that we just talked to chat about? What is that win rate?
And then also the qualified opportunity win rate with the averages, again, on a rolling six month average. So we're looking at that pipeline. Be very careful when you're doing win rate. I see a lot of companies confuse win rate with conversion rate.
So just win rate is how many ops one divided by all close, so it'd be one in loss. Then you're also going to want to track your inbound sale cycle on average, again rolling six months. And then your inbound BCD average on that rolling six months as well. So those are also just really great post checks I like to have.
And this is going to give you a very nice high level dashboard. This is the step one that I was working on companies to look at. Then there'll be additional drill in reports and dashboards that you can get instant numbers even further. But that's just that number one.
It feels like all really good information to have on a fundamental level. And you're just kind of putting it all together in one visual piece. Absolutely. Actually, how much do you love spreadsheets?
I love it a little too much. So when you're making this switch, do you have templates? Do you have automation? How do you handle all of this data coming in and organizing it in a meaningful way?
Yeah. So first of all, this should all be in your CRM. So if you're using HubSpot or if you're using Salesforce or something of the sort, I built them both in HubSpot and Salesforce. So typically the top two CRM's that you're going to be using.
So the good news is from this perspective, these should all live in one spot. So it'll make it easier for you. You're going to build out separate reports and then add them to a dashboard. You can have filtering sections as well.
Another big call I like to have is look at this holistically versus segmentation. So I see a lot of companies overcomplicate these reports as well because they're doing geos on top of it. They're doing business segments like SMB and Enterprise, et cetera. So you're going to want to have this at a holistic level.
But when we get further into the nitty gritty of additional reports, this is where a spreadsheet will come in helpful because typically there's a lot of really great systems that will match all the different data points together. So one thing I really like to have is a master spreadsheet, especially Google Sheets because it's easier from a sharing perspective throughout the company. And you're going to want to have it as a glossary of sorts. And you're going to want to link up, this is the dashboard or this is the report.
This is what it tells you who owns the report. So who owns the report is responsible the report. And they're also responsible for the insights it provides. And then how do you use this report?
And so this is all going to live in a spreadsheet. I like to have this only live within the marketing team because if you let this go into the wild throughout the entire company, too much data can produce too much confusion or too many rabbit holes. But it is important that you're going to need to be connecting a lot of different pieces, which will also include budget and spend and different things like that that you will need. And that's actually some of the left you brought that up.
Awesome. So we're going to, in our next section here, we're going to get into some measurement insights. But we'll see you on that one.