From this post you will have figured there’s so much data to capture to build insights for each team, but you gotta start somewhere.
Here are the must have fields your lead object to start with:
1. Lead Data Completeness:
Say you have five must fill fields like industry, lead source, etc. this field is a formula field that will throw a % of how much of this set of fields is filled.
You could then put a validation to allow conversion on 100% only.
This helps with data hygiene and reporting on Qs like:
- What % of Inbound leads are converting?
- What industries are contributing to the top of the funnel?
and the likes.
A formula field that will fetch the domain out of the email field. Helps you group companies by domain (helps dupe handling et al)
Use this formula:
SUBSTITUTE(Email, LEFT(Email, FIND(“@”, Email)), NULL)
3. Converted from lead:
Presume you have 100 opps: 50 came from lead conversions and 50 were created manually by your sales team.
The easiest way of reporting % opps created from leads is to have a field “Converted from lead” at the lead-level default checked to “TRUE” and pass it to opp on conversion.
4. MQL & SQL
If you are to build an analysis of what % of Marketing Qualified Leads (MQL) are moving down the funnel into Sales Qualified Lead(SQL) and further into Pipeline, you will need to capture that right on the lead record.
Speak to your marketing and come to an understanding of what constitutes your MQL. Then have an actual field (datatype=checkbox) by the name of “MQL” on your lead object.
Build a workflow automation that will turn the MQL=TRUE every time a lead record meets the condition. And likewise a field SQL=TRUE when the record meets the condition.
A prospect fills the form on your website requesting for a demo. Your SDR speaks to her and realises while it is a good lead, you can’t take it forward coz you don’t have a must-have feature that prospect needs.
The automation basis your defined conditions would make this:
And with enough data you will be able to build an insightful report by Company Category, Industry, Lead Source, Region and other groupings to see the journey of MQL to SQL to further into Pipeline and closure.
This is just among few important fields to start with. Drop a comment or book a meeting if you would like me to take a look at your CRM and processes.