For decades, marketers have argued with sales teams about what makes a lead qualified.
They’ve fought about what influenced a sale: a marketing campaign or a sales call?
As a marketer, I’ve lived in that world. It sucks. But most importantly, it prevents sales and marketing from getting the alignment they need to truly drive growth.
And, now that over 50,000 businesses are using Drift to drive growth with the help of messaging, people want to know how much conversational marketing influences the most important metric of all: revenue.
My former colleague Kim said it best: “If we could all just band together and start focusing on revenue reporting, it would make our profession seem so much more legitimate to non-marketers.”
Forget metrics like cost per lead, conversion rates, or click-throughs – what marketers wanted, and what businesses need – was just one metric.
When these same sentiments were echoed by a panel of Drift customers at our annual kick-off last month, we made a momentous decision: revenue reporting would become a reality in Drift.
That’s why we’re so excited to announce that as of today, our customers can see exactly how much revenue was influenced by using Drift.
Revenue Brings Marketing And Sales Together
At the end of January, most sales people are working hard to close out the first month of the new year.
At Drift, it’s no different. Progress towards our sales goals are posted in Slack, so the whole company can see when deals are closed. It’s exciting, especially on the very last day of the month – lots of emojis and “let’s go” Tom Brady GIFs.
The coolest thing about watching the deals come through? Seeing which sales reps are closing the biggest deals.
And how are deal sizes measured? Dollars, of course.
As a marketer, I envy that. It’s simple, and progress towards your goal is clear. This was one of my favorite parts of working in demand generation: I could see exactly how my efforts impacted the bottom line: revenue.
And in talking to more and more marketers, I can see I’m not alone. We’re measured on so many KPIs, but at the end of the day, our most important metric is revenue. So, why not make it possible to finally align marketing with sales and connect our work to the real bottom line?
And that’s what revenue reporting in Drift is all about: Finally aligning sales and marketing around the same goals. So, let’s lay down our weapons, and end the war by both focusing on revenue.
How Revenue Reporting Works in Drift
While most marketers have struggled to connect marketing campaigns to revenue, we’ve made it ridiculously simple inside of Drift.
Revenue Reporting lives in our main dashboard, so every time you login, you can see it. Easy.
And, if you’re like most of our customers, you’re using Salesforce to track your closed-won opportunities. To connect this data to Drift, all you need to do is log into Salesforce from the new Drift dashboard. We’ll pick out which of those closed-won opportunities had conversations with you in Drift.
Here’s how Drift Revenue Reporting is a game changer:
First, you get a clear picture of how many dollars in the pipeline were influenced by Drift. This is incredibly useful because you’ll know where your sales team should focus to close business.
If the buyer prefers conversations on your website instead of the phone or email, then you gotta go where they are. They have all the control.
You’ll also be able to see the total amount of sales opportunities that were influenced by conversations in Drift.
And, when you get started with Drift Revenue Reporting today, you’ll still be able to get a historical view of performance. That means you can see over time how Drift has impacted your bottom line. This is especially useful as you try new bots, and run new Playbooks in Drift to make sure you see a great return on your investment.
But There’s More: See Conversations By Day, Page, And Person
While we were building this new feature, we decided to add more conversational metrics – and a bunch of new ones – to help you figure out how and why Drift is influencing your bottom line.
You’re having conversations all across your website, with sometimes dozens of sales reps. You should know more about the who, what, where, when, why of your conversations. So that’s what we built.
The dashboard will show you when your team is having conversations – by day and time of day. It’ll show you where your conversations are happening across your site. It’ll also show you which members of your team are having the most conversations.
But we didn’t stop there.
We added a team performance breakdown to show you how everyone is doing.
And we’re introducing two new metrics to help you boost your performance: Response Time and Conversation Length.
The magic window for connecting with a new sales lead is five minutes. Because after just five minutes, your chances of connecting with them decreases by 10x according to a study by InsideSales.com and Harvard Business School.
But what’s your response like with people on your website? Up until now we haven’t been able to give you that metric. Now we can.
It would be nice to be able to see how long your team is spending on each conversation, wouldn’t it? That way you know your team is being productive and your customers are getting answers to their questions, quickly. Well, now you can.
The team performance dashboard also shows how each rep is performing, in response time and conversation length.
Ready to get started with Revenue Reporting from Drift? You can learn more by clicking here.
You can also access your new conversational metrics dashboard by clicking here.
And if you have questions about any of the new reporting, let us know.