Whether your company sells products, services or a bit of both, your marketing and sales funnel provides the lifeblood for continuing success. Duh.
If you’re a CMO or CSO, you want to be able to make strategic –and sometimes tactical – decisions or adjustments based on what is happening in all stages of the customer acquisition funnel. Getting to a reliable ‘full funnel’ report sounds like it should be simple, but is often actually a mash-up that doesn’t quite deliver the certainty that it could.
Why? Two main reasons:
- Marketing and Sales usually focus on different stages of the Funnel process. Marketing is more invested with the top of the funnel (leads) and Sales with the bottom (closed/won), with the middle of the funnel being reported on by both. How many views of the same funnel are there in your company?
- When it comes to the data itself, Sales and Marketing usually use different software, so some of it lives in your Marketing Automation system and some lives in your CRM.
For most companies, achieving a picture of what’s going on in the entire process — the full funnel — can take a lot manual correlation and sometimes educated guesswork. Ouch.
There’s another way
With a bit of thought and work, there’s a way to achieve an accurate — and automated — full funnel report. This is win-win that can:
- Automatically resolve differences (conflicts?) between Sales’ and Marketing’s views of similar data
- Provide an accurate picture that can inform decisions
- Free up the time it takes to manually mash up the data
Creating an automated Full Funnel report requires setting up fields that make it easy to capture the changes in the lifecycle progression where they are naturally tracked. You also need to create workflows between systems so the data captured in one system is reflected automatically in the ‘other’ system.
There are 4 ways to do this:
- Start with the Leads table
- Start in the Contacts table
- Use the Accounts table – a natural if your company does account-based marketing
- Use your data warehouse
In each case, workflow is key – along with how you set things up. Achieving a true full funnel report is not only achievable; it’s easier than you think.
For a full description of each of these solutions, including a comparison of the advantages and disadvantages of each, read our white paper ‘Aligning Marketing and Sales Results with Full Funnel Reporting’.