You Need to Pay Attention to Sales Conversion Rate, and Here’s Why
The number one goal for sales and marketing teams is pretty simple – generate more revenue. The best way to do this is to convert target accounts from the top of the funnel to closed-won more efficiently and effectively. If more Marketing Qualified Accounts (MQA) convert from opportunity to paying customer, your company makes more money. This is known as your sales conversion rate, and to recognize the value of it you need to understand how the sales funnel works.
Why is This Important?
CRM software like Salesforce uses the sales funnel to track where prospects are in the buying process. It’s an upside-down pyramid that represents the entire process of selling a product – from prospect to closed-won. The sales funnel is an invaluable tool for evaluating metrics at every stage in the buyer’s journey and understanding the bottlenecks that are affecting your bottom line.
If your sales conversion rate improves, that means that a higher percentage of accounts are progressing through the funnel and converting to closed-won. Simple as that.
Madison Logic Can Help
According to the commissioned Forrester Total Economic Impact™ study for Madison Logic, our clients see double the sales conversion rate over a three-year period. This means that once accounts are in the sales funnel, Madison Logic helps to double the rate at which they become paying customers.
“When leveraging intelligence from the Madison Logic Data Cloud to create more relevant content and improved targeting, the organizations were able to improve sales conversion rates from 2% in year 1 to 4% in year 3.”– July 2019 Forrester Total Economic Impact™ Study
The beauty of it is that we don’t have to tell you the effect that this has on your sales conversion rate. We can let the numbers do the talking. Madison Logic has been proven to help our clients double their sales conversion rate, making every single lead twice as likely to convert to a paying customer. Sales is happy, marketing is happy, and most importantly – your company is making more money in less time.
Interested in learning more about how Madison Logic can help you accelerate your pipeline and convert your best accounts faster? Get in touch and our team will reach out to discuss how we can help you engage with the most influential individuals throughout the buyer journey.