Why Analyzing Your Pipeline Generation Health is Critical for Business Growth
Understanding how to apply the pipeline generation health framework– so that we can understand where our “health” is now and how to improve it.
In part, people keep annual physicals so they can understand where they are health-wise, and to receive your body's signals to change any negative trends. Analyzing the health of your pipeline generation efforts is no different– you want to know how to change where you are headed.
We’ve previously broken down the elements of a successful pipeline generation health framework, understanding why each component is critical. But now what? Now we learn to apply the framework - so that we can understand where our “health” is now and how to improve it.
How do we use a pipeline generation health framework?
Every 'seven habits' course reminds you that there are some factors in your control and others outside your control. A Pipeline Generation Health Score helps you focus on your control factors and optimize for them.
Change Pipeline Generation Goals
34% of marketing teams use pipeline as a measure of campaign success, according to our State of Pipeline Generation research report earlier this year. The real question here is whether the pipeline generated is predictable. The true goal should be predictable pipeline generation.
Predictable pipeline includes repeatable and scalable creation processes– from the lead generation to sales, as well as the continuous analysis and improvement. This includes identifying the most effective lead generation channels and strategies. It also includes consistently generating high-quality leads, nurturing them with targeted messaging and content, and effectively managing the sales process.
Creating a predictable pipeline also requires continuous analysis and improvement. Marketing teams should constantly evaluate lead generation and sales processes. They should identify areas for improvement, and implement changes to optimize performance. This approach allows companies to adapt to market changes and continuously improve pipeline generation.
Focus On Acceleration Activities
Marketing and sales have levers to accelerate leads through the pipeline. These can be essential at driving business growth.
Marketing teams can focus on producing higher quality leads that convert quickly. This can be achieved by identifying the most effective lead generation channels and strategies, creating targeted and relevant messaging and content that resonates with the target audience, and using data and analytics to optimize the lead generation process. By creating a higher quality of leads, marketing can accelerate the lead nurturing process and move prospects through the pipeline faster.
On the other hand, sales teams can focus on streamlining their outreach process and gathering essential information at each stage of the funnel. This can be achieved by implementing effective lead scoring and prioritization strategies, using automation tools to simplify the sales process, and leveraging customer relationship management (CRM) systems to track and analyze the performance of individual sales reps and the sales team as a whole. By streamlining their outreach process, sales teams can ensure leads move through the pipeline efficiently, with minimal friction or roadblocks.
Maximize Campaign ROI
The majority of pipeline is influenced through marketing campaigns, which is why increasing ROI on these efforts is crucial for pipeline generation.
To achieve this, it's essential to ensure that the right audience is targeted through the most appropriate channels. This means identifying the most effective channels and platforms to reach the target audience and creating messaging that resonates with them. By targeting the right audience, marketing teams can increase the likelihood of generating high-quality leads that convert.
In addition to targeting the right audience, data-driven optimization and continuous testing and iteration are also crucial for improving campaign performance and increasing ROI. This means using data to analyze campaign performance, identifying areas for improvement, and making data-driven changes to optimize performance. This can include A/B testing different messaging, visuals, and CTAs to determine what works best. It can also include optimizing landing pages and forms to improve conversion rates. It can also include analyzing audience engagement to better understand their preferences and behavior.
By continuously testing and iterating on campaigns, marketing teams can improve lead quality and optimize ROI. This, in turn, will help drive healthier and more predictable pipeline generation, ultimately leading to business growth.
How can you measure your own pipeline health to increase new business revenue and efficiency? Download the Pipeline Generation Health Framework now!