Modules
Quarterly Updates and Final Product
Transcript
Hi. My name is Brian from the Playbooks team here at RevPartners, and we're gonna talk about our go to market goals, how to update them on a quarterly basis, and what does the final product look like. So so far, we've looked at what go to market goals are, how to define them, what is the math, the conversion rates, and the volume metrics to go into creating these goals, how to go ahead and set benchmarks for goals for future quarters, and now we're gonna dive into the final product. So from here, you're gonna have your template, and you're gonna have all historical data and all forecast data outlined. This is what you're gonna present to your leadership team to ensure that you can align on the next quarter's goals, but also look out to future quarters. You're also gonna have goal attainment. So you'll have all of your goals set up. And then if you can, begin tracking goal attainment quarter after quarter to see if you've hit your goals that you've set. So what does that all look like in a finished product? Well, here we have an example filled out template, and what we have is that we've got the goals for the last four calendar quarters, and then we have the goals for the current calendar quarter. So you can see the goals have changed over time, and they just changed quarter over quarter, uh, several conversion rates and several volume metrics. And so what you need to do now is align the team on, can we hit this goal? One of the best ways to see if can we hit this goal for the team is to hone in on one specific go to market goal and go to market metric. In this case, I'm gonna hone in on deals created. Deals created is an easy one to hone in on because most companies track the deal source. It's you can really see, do we have the volume in each specific source to hit this goal of 214 deals? So to do that, you can break it down to all of the sources, your all your go to market sources for these and then begin mapping this out. So you have your historicals for all the sources, and then you're going to go ahead and forecast your goal for the next quarter. From here, you're gonna make sure that your marketing team can handle 96 deals to be created as a goal. Your partnership team is 56. Maybe your outbound team's six goals. So you wanna make sure that you're aligning the goals with the strategies. You can go one step further if you'd like and break down each source into the secondary sources that make those up. So for inbound, we might have direct traffic to our website. We might have organic search and social. We might have paid ads. We might have referrals. And so you wanna make sure that each of these has a specific specific goal that you can align your team to. Now that relates to inbound, but also partnerships, events, community, all of these things really help to make sure that you've got the engine behind you to hit these new goals. And so while this goal is just one data point on your entire revenue performance model, you can break each of these down to multiple layers to ensure that you have the strategies in place to hit these goals. That is your job as a rev ops professional to ensure that your leadership team and all the team all the members of your team in general have the strategies that they need to do all the little things day after day to roll up to eventually hit this goal. And, again, this is just one of about eight or 10 goals that we wanna track. You can look at your past goal performance, not only for the go to market metricals, but you can also look at it for the source goals and the individual specific source goals as well. This will help you formulate your plan for the goals. Once you have your goals, you wanna align the team to exactly what that goal is for that quarter, and then you wanna go ahead and begin updating the actuals when that happens. And so aligning your teams to not only the go to market goals, but the specific details they need to hit in order to achieve those goals is really, really important. The math stays the same, but you can double click into each of these if you'd like to and really get more and more granular if you need to develop the strategies, secure budget, or just gain overall alignment for this. And so now you've seen how we define go to market goals with our revenue performance model, how we make up the math and the conversion rates to go from total contract value and revenue all the way up to leads and back back and forth within the middle. You've looked at historical data and how to use historical data to project or forecast future data. You've seen how increased revenue goals could put pressure on conversion rates or just make sure that you have more volume up funneled to hit those measurements. And now on a quarterly basis, you wanna put in your actuals, you wanna analyze all the different wins and losses you had for that quarter, and you wanna use that historical information to make the best educated guest hit those goals in the future. Every single quarter, you should be getting closer and closer to to hitting around a 100%, which means you're forecasting correctly, you're assigning a budget appropriately, and you can plan, um, exactly the same. If you see here, we've got a 102% of deals created. That does not mean all of our sources hit goal. It definitely does not mean all of our specific sources hit goal, but it does mean that everything combined together was right in line what we needed to achieve as a company as it relates to our goals. So good luck. Constantly tweak this. Make sure to communicate this to your team. And as a rev ops professional, if you can set go to market goals, communicate them not only to your leadership team, but through the entire company, and align those building blocks so that everyone in the company knows exactly how to hit these key eight to 10 metrics. You will really be a true valuable resource for your company. Thanks for watching, and thanks for following along.