As you read in my first post on this topic, you first need to identify all of the breakpoints in your lead process before you can start tweaking them. Let’s take a look at some of the things you can do at each breakpoint to increase velocity. I have included the image from my previous post for reference.Velocity with Average Sales Time.PNG

First, the one document every organization needs that will have the greatest impact on velocity is a Service Level Agreement (SLA) between marketing and sales. The SLA will contain a lot of things but one of the most important is putting time constraints around each transition. As a start, you could take your average sales cycle from inquiry to close (I like to use 80% of closed won deals to weed out the outliers) and establish your SLA around that time frame. In the diagram above, you see a sales cycle of around 23 days. Knowing this, you can estimate times at each break point while ensuring the total duration never exceeds 23 days.

Once you have a framework of times to work towards, you can look at different tactical options to get you there and improve. Below are a few examples:

  1. These days it’s essential to implement automation in order to greatly reduce velocity. You can use automation to cut down the time to first contact with an auto response. You can also use automation to cut down the time to hand-off to a sales representative as well by routing the lead immediately.
  2. Define an efficient lead process for your qualification team. Make it easy for them to mark leads appropriately and hand them off.
  3. Another component of the SLA would be an established cadence. For example, how many phone calls and emails must be sent in a given time period. This can be tweaked as necessary to see how it affects velocity.

I would love to hear some more ways you tweak velocity at your organization.

In my final post, I will talk about some of the ways you can measure velocity.