Sococo is on a mission to change the workplace paradigm in order to unleash the performance potential of distributed teams. In today’s agile world, with distributed teams and flexible work patterns, Sococo’s online workplace provides all the benefits and more of co-location, breaking barriers to high performance.
Every business is focused on optimizing their funnel, especially growth-focused companies like Sococo who need to understand what leads to a closed/won deal. Getting a complete view of their customer’s journey would be crucial to answering Sococo’s questions about sales performance, where prospects were getting lost, and where they could start making improvements to conversion rates. So with the help of his VP of Marketing and Kyle Garrett, who runs Sococo’s Sales and Marketing operations, the CEO began mapping their entire sales and marketing funnel.
“The CEO and VP of marketing reverse engineered the funnel—trying to determine that if we wanted X paying customers, how many opportunities do we have to close, how many opportunities do we have to create to do that, and then how many leads do we need to come in? And they actually worked that exercise all the way back to impressions,” says Kyle Garrett, who runs Sococo’s marketing and sales ops.
They then identified KPIs for each stage including ad impressions, new lead and trial information, opportunity pipeline data, and the number of new seats created. Garrett was then tasked with creating a marketing and sales funnel dashboard that would allow the company to closely monitor each stage in the funnel.
Many companies track their sales and marketing funnels, but the KPIs are often spread across dashboards which can lead to the loss of important insights, like understanding weak points and how they affect conversions downstream.
By tracking their funnel in one place, Sococo has been able to expand their understanding of what customers are experiencing, determine when conversion issues arise, and fix inefficiencies quickly.
As Sococo has continued to use their Marketing and Sales Funnel Dashboard, they have added metrics that monitor how opportunities are being handled and have dug deeper into their inbound funnel conversion rates—leading to a better customer experience from start to finish and faster growth for the company.