When setting marketing goals, start from revenue and work backwards. Before you agree to your next MQL goal, try this to make sure your goals are realistic + increase accountability. Don't: simply accept the MQL goal and set that as your end goal Do: ask what the company's revenue target is, how much is expected from various teams (sales, marketing, partnerships, etc.), and work backwards from that Step 1: ask for a revenue target, not an MQL target Step 2: map out current state to see what the current strategy is driving. A quick "funnel" could contain items like monthly spend, volume (demos, opps, CW deals), conversion rates (demo-opp, opp-won), and pipe/revenue generated. Step 3: assuming the revenue target is above current state, add a row for revenue target. Duplicate current state into a new column and start playing with your funnel variables (spend, conv rates, ACV, etc.) to see which are most impactful towards hitting your revenue number. Step 4: identify the best combination of variables and partner with leadership to share your findings. This data will help ground the conversation in reality. There are too many levers we can pull as marketers to help reach company goals. Optimize beyond the "MQL" to make true impact to the bottom line. #marketing #demandgen
This should be taught in executive onboarding/ training programs.
Honestly, I don't even have an MQL goal because it's too easy to hyper-focus on that number and lose sight of the real goal - revenue.
Thanks for sharing
You know I felt this one in my soul! And all the marketers said Amen 😂
Nailed it.
Better yet: Don't have MQL goals. Revenue goals and SQL goals. That's it. That's what revenue marketers want!
Yes! And do the required math that reverse engineers your marketing activities and investments all the way back to before you get out of bed every morning. I still get surprised at the number of people who ignore the math of marketing. It's not difficult.
Setting sales goals... "...What's the target?" "10% increase in unit sales" "OK...now lets figure out how to get there." Instructive post by Sam Kuehnle
Director of Strategic Communications
2yQuestion: in bigger companies demand gen is separated (often substantially) from sales and the revenue target. The company is sub-dividing the goals to focused resources. Which increases localized accountability and flexibility, but increases rigidity in the separation of revenue earning from MQL capture. What are your recommendations when asked to own MQL target in that structure?