Are there any broad metrics you guys track as PMMs?
In a proper program, Industry Marketing & Campaigns have joint ownership so we both look at the same metrics in order to build pipeline and win NARR. I say this as a preface because Industry and Campaign leadership should work together to:
- Establish business objectives
- Set targets, goals, and key intiiatives
- Help with cross-industry efforts
This should then yield to:
- Pipeline generation
- Open Pipe
- NARR
As such, we should always be looking at broad metrics that lead to:
- Global NARR
- Rep Productivity (monthly)
- ASP (monthly)
- Close Rate (monthly)
- Cycle Time (monthly)
- Market Penetration (quarterly)
Below are some key metrics we track, many already shared by David and Ellie, but I have bolded a few that are slightly different:
- Revenue of product line (or product portfolio)
- Average lead age or length of sale
- # of customer interactions
- Customer NPS
- Average win rate (win/loss ratio)
The average lead age is an interesting one for enterprise B2B companies, as those sales cycles can take some time and have certain friction points. As product marketing, are you finding ways to resolve those frictions and improve the length of sale?
Start with these:
1. Customer Lifetime Value (LTV) - it measures how long a customer stays with you and how much they spend during that time. It's a good early warning metric.
2. Win/Loss Ratio - of all the deals you have the opportunity to win, the number you win and the number you lose. It's a great tracking metric to help measure the effectiveness of things like sales enablement.
3. Retention Rate - the king of metrics in SaaS. What is the rate at which customer are staying (or the opposite - leaving). If your retention rate goes south, it means you have to sell that many more deals to get ahead.
I take the approach of getting both quantitative and qualitative measures, both bottom line (e.g. revenue) and project-specific (e.g. collateral usage) metrics.
Quantitative metrics include: revenue, win/loss rates, launch metrics, product usage, retention
Qualitative metrics include: internal feedback (e.g. sales team surveys), external feedback (e.g. brand awareness surveys)