To ensure that your sales team receives accurate Marketing Qualified Leads (MQLs), you need to continuously monitor and adjust your model, instead of treating it as a one-time task. Our customers who set up a fast iterative loop have significantly improved their conversion rates with each iteration. This article will assist you in enhancing and optimizing your scoring models, unlocking MadKudu's full potential.
Why should I maintain my MadKudu instance?
Are you looking to boost your revenue and improve collaboration between your sales and marketing teams? Look no further than establishing a routine to check specific parts of your MadKudu instance. By maintaining up-to-date models and delivering high-quality MQLs, you can cultivate a positive relationship with your sales team and increase conversion rates. Don't just take our word for it - we've had great customer stories where users who constantly gather feedback from their sales team have exceeded their conversion rate targets and achieved great success with MadKudu. So why not give it a try and see how it can benefit your organization?
The rest of this article explains our best practice for maintaining your model, which includes checking your model's output weekly, monthly, and quarterly. Keep on reading to be prepared to unleash MadKudu's full potential.
Anticipate Sales feedback
Do you agree with recent scores?
It's important to regularly evaluate whether you agree with the scores output by MadKudu. Are they accurately reflecting your business and its strategies? Are there any changes that should be made to the scoring system so that it aligns better with your goals? Taking the time to review your scores and consider these questions will ensure that you're getting the most out of the platform and achieving the results you want. Don’t wait for your sales to be really unhappy before taking action!
To review your scores on recent data from your CRM, go check your recent conversions in MadKudu's App in Predictions > Performance > Diagnostics > See Deep Dive (Customer Fit Prediction) or Predictions > Performance > See Deep Dive (Engagement or Lead Grade Predictions).
The 'False Negatives' tab displays leads that were not qualified by the model but ended up converting. Check if there are any common patterns among the converters, such as the same industry or action performed. Gather your observations and look for any unclear or disagreeable scores or signals. These observations can suggest that a certain override or signal could be added to your model.
On the customer fit side, you can understand why this lead got this score by using the Score Lookup page.
Gather Sales feedback
Set up a feedback loop with your sales team.
Give your sales team a voice! Engage them as users and they will become your best advocates for adoption. Request feedback from your sales team on recent scores, including how they are utilizing the information and any challenges they are facing. This can help you refine your strategy and ensure that your scores align with your business goals.
If you are unsure where to start, here are some ideas:
- Create a rejection reason field in your CRM to structure the feedback of your sales team.
- Create a report of the most recent rejections to understand if there is a pattern or if those are simply outliers
- Establish a Madkudu-feedback Slack channel to facilitate sharing feedback with MadKudu's owner.
- Schedule a weekly meeting with your sales team to review recent qualified or disqualified leads.
We recommend reviewing feedback from your sales team weekly.
Include Sales feedback in your model
If you want to understand how to take action based on your sales team's feedback, check out this article!
If you're not sure how to do this by yourself, please submit a support ticket and we'll help you improve your models!
Keep your Likelihood To Buy model up to date
To ensure accurate scoring, you have to make sure that your recent marketing campaigns and other activity-tracking events that your leads are performing are included in MadKudu.
To do so, regularly review the Event mapping output report.
In the App, navigate through Mapping > Event mapping > Check volumes.
Pay particular attention to the tabs 'Unmapped events' and 'Outdated events'.
- In the 'Unmapped events' tab, you might find events that you thought were mapped but actually are not. Make sure the mapping logic was set up well.
- In the 'Outdated events' tab, you might find events that are not useful anymore to your scoring since they have not been seen in a long time. You can remove these events from your event mapping.
We recommend checking these reports at least once a month to ensure that your model is reflecting the latest behaviors of your users.
To include new events, follow this guide >> How to add a new event to your Likelihood To Buy model?
Show team members that MadKudu is performing well
To keep your sales team aligned and ensure a high SAL rate, it's important to communicate the effectiveness of MadKudu and any recent updates to your models.
One way to communicate the success of MadKudu to your organization is by analyzing model performance using the performance page. This provides valuable insight into how well MadKudu is performing and can help identify areas where improvements can be made.
Before looking at the performance, make sure that
- the Audience and Conversion mapping configurations are up to date
- Are they configured with fields or values not used anymore in your CRM?
- Should you include new channels in your Inbound Audience?
- Have you changed the way you name the type of New Business Opportunities?
-> If yes, update the Audience and Conversion definitions
- the reports are up to date: click the refresh button in the top right corner
Additionally, you can synthesize the key changes made in the new version of the model, such as new signals, new overrides, and new behavioral activities taken into account. By doing so, your sales team will feel heard and will be more likely to provide feedback.
Review your business goals with your CMO
We recommend regularly consulting with your CMO to review your business strategy. This will ensure that you can keep MadKudu aligned with your business goals.
- Is there a new sales motion that you will be willing to operationalize with MadKudu? Free user to paid motion? Outbound motion?
- Are you planning any changes in the people you target? To keep reaching the right people with the right messaging, make sure your scoring system (i.e. the audience and conversion definition your model is trained on) is aligned with your targets.
- Are there any new marketing campaigns that you are planning to launch and that you need to integrate into MadKudu?
Keep increasing your revenue and driving growth thanks to MadKudu!