Table of Contents

Funnel Trend Dashboard

Cathy Funderburg Updated by Cathy Funderburg

CaliberMind Funnel Trend Dashboard

The CaliberMind Funnel Trend Dashboard connects directly to CRM data. The fields shown may be named differently within each unique system. The field names are easily changed and mapped to your current CRM Instance.

The Funnel Trend Dashboard - Purpose

The Funnel Trend dashboard is cohorted by the date the funnel stage occurred. A funnel trend dashboard analyzes and reports stage behavior over a defined period of time. The conversion rate is tracked over time and frequency. Based on observable factors, funnel trend analysis compares previous time frames, stages, and forecasts future cohort movements.

What is a Cohort?
The term cohort simply refers to a group of people. Cohorts are used to segment an audience in marketing. A Cohort is a set of users grouped together because of a common identifier such as specific experiences, events, dates, times shared by a group of consumers. These cohorts are used to identify and target segments of the market that, although they may fit into other models, are more effectively grouped and treated as one.
Is a Cohort the same as demographics?
Cohorts are often confused with basic marketing methods such as general demographics that are typically used to segment the marketplace. Demographic groupings such as income level, gender or age are not considered marketing cohorts. Cohorts are the things that separate specific groups of people even within their demographic groupings.
What is Cohort Analysis?
Analyzing cohort behavior involves comparing the behavior of groups of customers over time. Cohorts are unchanging groups. For example, customers cannot join or leave a cohort once it has been formed. An example of a cohort is a group of people who became customers during a particular time frame, such as the second week of January or the fourth quarter. An analysis of cohorts, also known as "static pools," analyzes how customers behave over time and move along the customer lifecycle curve.
Why use cohort analysis?
The information from cohort analysis allows marketers to differentiate between growth and retention according to Cohort analysis is useful for retaining customers or exploring how they will respond to a new feature or product. Knowing which categories are strongest indicators for retention is a powerful way to leverage cohort analysis.

The Funnel Trend Dashboard - Assumptions

The Funnel Trend dashboard assumes the following:

Your business is using the following standard CRM objects
Opportunity
Campaign
Campaign Manager
Lead
Contact
Account
Marketing automation platform integration
Marketing automation platform integration with your CRM and campaign member responses are being managed by your marketing team (for best practices, watch this recorded class)
You have cohort identifiers within your system
User data must be grouped into different "buckets," such as date of joining, date of first purchase, date of demo, purchase year, and all applications purchased at a particular time.
Establihed time of lifecycle stages
In order to calculate lifecycle stages, users are divided into cohorts and the time between events attributed to each cohort is measured in order to calculate lifecycle stages.

Funnel Trend Dashboard - Description

CaliberMind Funnel Trend Analysis Dashboard

CaliberMind Funnel Date Range Picker - Select date ranges interactively
CaliberMind Funnel Navigation Dropdown List - Navigate to other dashboards quickly via the dropdown list
CaliberMind Funnel Trend Metrics Selection Button - Interactive buttons of all available metric options
CaliberMind Funnel Funnel Selection Drop-down list - Select the desired funnel
CaliberMind Funnel Interactive Line graph - Visualization of the cohorts behavior over time
CaliberMind Funnel Funnel Stage Drop-down list  - Interactive drop-down list of all available stage options
CaliberMind Funnel Date Aggregation - Drop-down list of date ranges: Quarter, month, week, day aggregation buttons
CaliberMind Funnel Interactive graph key  - Identifies comparisons plotted on the graph

Funnel Trend Dashboard - Use Case Scenario and Analysis

The following use cases have been developed based on the perspective of the user type. An explanation of the type of information is provided, as well as a dashboard from where you can easily obtain that information.

Who Would Use the Funnel Dashboard?

Role: Sales Executives, Marketing Executives, Marketing Directors, Marketing Tacticians, and Operations

Funnel Trend Use Case Scenario
Q: What should I change to increase how much I am getting out of my funnel?
CaliberMind Funnel Impact
A: We need to consider the 3 keys to predictability - figuring out how much volume you need to convert into the next stage and how long it will take to move to that stage.

CaliberMind Keys to Conversion
  1. Volume - I want to see the total number of qualified accounts month over month and how it's trending year over year?
CaliberMInd Trend Analysis Q1 Answer
CaliberMind Trend Analysis
  1. Conversion - I want to see what is happening with my conversion rate.
CaliberMind Funnel Conversion Rate Key
CaliberMind Conversion Rate Funnel Dashboard
CaliberMind Trend Analysis

Analysis: Notice that at the end of the 2022 year our data shows that we are below the industry standard of 11% conversion rate.

Action: As a marketer we would ask the following questions:

  • Do we have a good understanding of our target market?
  • Are we trying to appeal to the correct personas?
  • Do we have an offer that's compelling enough for them to engage with Sales?

Solution: Collaborate with sales and mitigate gaps and issues are found with tweaks to ICPs and offers. Watch data closely for changes both good or bad. Rinse and repeat.

  1. Time in Stage - How long does it take for leads to advance from one stage to another?
CaliberMind Days to Advance
CaliberMind Days to Advance Dashboard
CaliberMind Trend Analysis

Analysis: Notice that at the end of the 2022 year our data shows that we are well above last years days to advance and we need to begin to investigate what is causing the blockage.

Action: As a Marketer I would begin by interrogating the targeting and messaging and conversion rate statistics earlier in the funnel to see whether or not there is a problem. Take a look at Sales and ask about lead follow up timelines (i.e. how long is it taking Sales to follow up on leads and how many leads are actually being touched?)

Solution: If the follow up time - as indicated in this dashboard above - has increased it is time to make sure you are targeting the right people - ask "am I bringing in low quality leads with low intent?" Look at what is converting well with accounts booking meetings and then gating the content that gates at a very LOW rate. A good idea is to determine what are the 3 highest converting channels and then apply and ICP filter to the ones below these. Also, there are some tactics that are not passed through to sales but are placed in a nurture program.

On the sales side of the house it's important investigate the need for gap sales training as well as develop or refine an SLA for lead follow up. Once all measures have been attacked it is important to closely manage both marketing and sales efforts and for improvements and needs to tweak the processes. Rinse and repeat.

Watch Camela Thompson walk through the funnels analysis logic and solutions

How did we do?

Funnel Stages Configuration and Stage Definitions

How can I see the number of journeys in or passing through a funnel stage during a period of time?

Contact