Goal modeling helps your team find lookalike audiences and optimize stages in your funnel based on your goal. Goals are marketing and sales objectives that your company wants to meet for a product or service. You may be trying to drive more responses across a specific channel. Or, you may be trying to generate more upsell opportunities with a product release. You can even focus on driving more MQLs or SALs in the acquisition stage of the funnel. Radius goal modeling helps you do that.
How It Works
When you set up a goal, you'll add criteria to describe the sales or marketing objective you are trying to achieve. Our modeling engine then analyzes information from your systems of record and The Network of RecordTM and sorts information into four categories: New, Open, Won, and Lost. These categories are used to identify which prospects you want to market to and which prospects you don't want filling your pipeline so you can make informed data-driven decisions to get the best ROI.
New records are net-new prospects you can get from The Network of Record. They're not yet in your system of record.
Open records are leads, accounts, and contacts in your system of record that you want to actively market or sell to.
Won records are leads, accounts, contacts, and opportunities in your system of record that have already met your sales or marketing criteria. For example, a record that has converted from a lead to an account, or an opportunity record whose stage is Closed Won. Won records may have present up-sell or cross-sell opportunities.
Lost records are leads, accounts, contacts, and opportunities in your system of record that have been rejected or disqualified.
Single Goal vs. Multiple Goals
Depending on your Radius contract, you get either one goal or multiple goals. If you use multiple goals and switch from one goal to another, it's important to understand that because different goals have different rules, Radius will recalculate your historical success, and may also re-categorize won and lost records.
You might set up multiple goals to optimize for multiple objectives. For example, you might have three goals like these.
Funnel stage optimization. Track how prospects make their way down the funnel and through the buyer's journey, from product awareness all the way to purchase. Using field values from your Salesforce records, you can easily set up goal rules to track conversion from MQL to SQL to SAL to Opportunity to Customer.
Current customer opportunities. Track how successful or unsuccessful your upsell or cross-sell opportunities are for different products in your organization.
Outbound marketing optimization. Generate leads for outbound campaigns such as direct mail, email blasts, and digital advertising. Track the effectiveness of each campaign based on how much new business it generates.
To get started, you'll work with your team to determine marketing and sales objectives based on factors like current markets where you've had historical success or new markets you want to penetrate.