Refine Labs is challenging the traditional department-focused approach to understanding pipeline activity with its new measurement principle, Pipeline Sources.
Companies that categorize their leads or MQLs by department incentivize teams to focus on volume rather than efficiency (e.g. Inbound Marketing, Outbound Sales, Partner). But efficiency should be the goal, and that's where Pipeline Sources comes in.
Pipeline Sources is a new way to measure the success of an "all-bound" GTM strategy that removes the emotion and conflict that arise when comparing traditional department-focused approaches. This new approach allows for easier efficiency optimizations.
Refine Labs' research confirms that not all MQLs are created equal. Instead of focusing on volume, revenue leaders should focus on buying intent. How the buying group enters the pipeline is highly correlated with buying intent and can predict sales performance metrics like ACV, sales cycle length, and conversion and win rates.
To illustrate this, Pipe™ - declared intent website conversions - showed a sales velocity of $3.4M, with a HIRO win rate of 25%, and a lead-to-win rate of 8%, compared to Cold Outbound sales velocity of $1.1M, with an SQO win rate of 15%, and a lead to win rate of 5%.
Refine Labs has successfully implemented Pipeline Sources with its full-service clients in The Lab to drive alignment between GTM teams and drastically improve GTM efficiency.
"Revenue teams that are measured on metrics that matter - qualified pipeline and revenue - should recognize this reality immediately because it’s the fastest path to hitting your goals," said Chris Walker, Refine Labs CEO.
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