Thanks to Leadsift for having me contribute to their 1-Minute Learning Series. The original marketing funnel interview with Alex Field highlighting lives on Leadsift’s Linkedin page.
Reverse Engineer Your Marketing Funnel
For a good majority of marketers, our core mandate is to generate leads. And more times than we can count, CEOs, executives, and sales aimlessly tell marketing, “we need leads.”
No. You want revenue.
Sure, leads get you to revenue, but let’s get everyone on the same page. Revenue is what matters. Nothing else.
When you have business leaders asking for leads, and a sales team that is hungry to bring in revenue, it’s time to reverse engineer your marketing funnel. Put a plan in place that highlights both leads AND revenue.
Spinning up a reverse funnel will instill that sales, marketing, and the company are working towards the same thing — the revenue number.
Let’s start with this funnel example.
Your company has a goal of closing $6M in new bookings for the year. The goal for the first quarter (Q1) is $1M. Looking at your funnel conversions, your Q1 marketing, and sales metrics breakdown like this:
These numbers give marketing the insight to confidently commit to bringing in roughly 11,940 leads and committing to 597 MQLs to sales.
The reverse funnel also works for events, content marketing, social media, email marketing. Use it. for whatever has a conversion flow with an end goal.
Marketers, reverse engineer your funnels! You will not only look smarter, but this action will help you focus on building a meaningful marketing plan.
CEOs, encourage and support this.
Do you need help understanding your funnel and conversion rates? Contact us for a free 1-hour marketing consultation.
