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

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

Introduction

One of the early indicators most marketing teams are given as a goal or key performance indicator (KPI) is the number of people or accounts that enter the marketing qualified lead or automatically qualified lead stage in a given period.

In product-led organizations, marketing may also be responsible for driving free trials and then product qualified leads.

Once sales is involved, there will be several stages that are created when an opportunity stage field is updated or a major event happens with the sales team and the prospect.

Anticipating and meeting the volume needed at each stage to have a healthy book of business is what drives business leaders to create KPIs and push teams to work together to hit the overall bookings goal.

All stages of your funnel are customized to fit your organization's needs, and CaliberMind has given you a few ways to quickly view these KPIs and then drill in for deeper analysis.

The example to illustrate the solution -

You're responsible for generating qualified leads. You're trying to demonstrate that your marketing department did its job in creating viable leads for the sales team. This is based on the rules you've created to define a Marketing Qualified Account (MQA). You want to be able to quickly view the number of journeys that met this particular stage in over a customized date range.

USE CASE ANSWER #1 - FUNNELS HOMEPAGE

Don't get lost in the noise - pull up the Funnel Homepage

De-cluttering the way you see data is critical. A single source of truth can be provided to your marketing and sales teams by using CaliberMind's Funnel Homepage.

By having a single source of truth for all of your data, teams can make more informed decisions that are better aligned with the overall company strategy. Additionally, the data can be visualized across multiple dimensions, giving leaders a comprehensive view of the current state of their business and what areas need more focus. This allows them to make more informed decisions that are tailored to their business needs and are more likely to result in success.

Click on the link for more on CaliberMind's Marketing Funnel Homepage.

Funnel Homepage Overview
CaliberMind Funnel Homepage

The left-hand side of the Funnel Homepage shows what's currently active or open in each stage, regardless of when it first hit the stage. On the right, a chart shows a snapshot of how many accounts or people passed through each stage by calendar quarter. If your company uses a calendar year, the chart on the right is a quick way to view your stage volume KPIs.

It also helps people understand if they are improving over prior quarters and if the current quarter is on pace to meet or exceed the prior quarter.

USE CASE ANSWER #2 - FUNNEL DATA EXPLORE DASHBOARD

Now that we have covered the foundations of CaliberMind's Funnel Homepage, let's look at the types of customer journey analysis that can be conducted within CaliberMind's Data Explore Dashboard.

Trace and Explore the Journey through the Funnel Stage by Stage

The funnel data explore dashboard can help teams quickly spot trends, understand customer behavior, and create more effective campaigns to drive revenue. With deeper insights into prospect data, teams can better understand what works and what doesn't, and make data-driven decisions that result in increased sales and higher ROI.

We'll use the CaliberMind Data Explore Dashboard to view the total number of accounts or people (depending on your funnel build) that passed through each stage of the funnel in a given time frame, and drill down for a more granular look at the data below the surface.

Funnel Data Explore Dashboard Overview
CaliberMind Data Explore Dashboard Overview
Data Explore Dashboard Key

The guide above shows how to configure a simple Data Explore view that shows the number of accounts (in this example Funnel) that passed through each stage in the select time range.

To see the accounts or people (depending on your funnel configuration) that were in a given stage, click on the blue number in the appropriate column in the table. A preview window will pop up and allow you to open detailed views of each account or download a list for further analysis.
USE CASE ANSWER #3 - COHORT ANALYSIS DASHBOARD

In a cohort, people are grouped based on a shared characteristic. Typically, the cohort is grouped by when a particular stage in the funnel was reached by a group of accounts or people (depending on your funnel configuration). A cohort analysis compares different groups at the same point in time based on their behavior over time. By comparing the data of different cohorts, you can draw insights about how different groups interact with your product or service. This can help you identify trends and target the right audience for your product or service.

Understanding the path to purchase

By seeing volume over time and how efficiently each stage is converting, we can identify areas for improvement. For example, if we see our conversion rate from qualified lead to opportunity has been decreasing, we would ask our operations team to investigate whether an integration broke or configuration change made it harder for sales to follow up on the leads. We would also see if the leads we are generating are in the right ICP, and whether our marketing mix changed. Finally, we would investigate the sales team's time to follow up and get feedback to see if they feel lead quality went down and create an internal-facing campaign to get them re-engaged in lead follow-up.

Cohort Dashboard Overview
CaliberMind Cohort Dashboard

CaliberMind Cohort Dashboard Filter and Table Key

The key above is how we would use the Cohort Analysis dashboard to analyze data cohorted by our first stage, or 01. Inbound. This helps us see how the volume is changing by the date the inbound leads came in (top table) and analyze how the total population has advanced through the funnel.

If your average sales cycle is long, your numbers may not be complete. In the example above, we expect that our conversion rates will be much lower than the final number for stage 03 and beyond. We recommend either cohorting by a later stage or selecting an early stage and a time frame well in the past to see how numbers finalized or reached the final stage. It's important to understand sales cycle time frames when using a cohort view.

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Funnel Trend Dashboard

Sales Funnel Metrics

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