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Sales Velocity Report

This article is for media buyers to understand the duration between a new lead generated and the first purchase by that lead. That duration is the measurement period needed to evaluate paid media new lead generation campaigns.

predictive-behaviors-sales-velocity

Why You Need This

You need to know how long your sales cycle is. This report allows you to know this for sure, based on your data, rather than on gut instinct. It also allows you to see the differences in sales cycles based on how your customers first joined your list - very often, different sources and audiences will become customers at much different sales cycle durations.

The measurement period of a campaign that is at the top of the funnel is dependent on how long it takes leads, on average, to buy.  This report will let you know how long your leads are taking to buy - so that you don't turn off or dismiss a top of the funnel marketing campaign that simply needs time to ROI based on your past conversion times.

 

Common Marketing Optimization Scenarios that Sales Velocity Can Solve

  • How long should it take for my top of the funnel lead generation campaigns to ROI?
  • Are different traffic sources converting new leads to first time customers faster or slower than my averages?
  • How long do my leads take to close?
  • Did my marketing & sales funnel changes lead to a faster time to sale for new leads?

How to use the Sales Velocity Report

 Simply click on the Predictive Behaviors report menu option.  The sales velocity report will load up, it is the bottom report on the screen.

Use the filters to assess sales velocity differences by traffic sources or different time periods.

Marketing Optimization Tips

smaller captain wicked pointing to rightHow long do my leads take to close?
The report loads up with this information without any need to manipulate the report. For each time range listed in the Order Date - Optin Date”, the number of sales conversions are how many optins made their first purchase within that time range. And you can see how that number compares to the % of your total optins and of the first-time purchasers.
 
Which marketing source is faster or slower to close sales?
Select the source from the Source drop-down and then report will only show data from optins from the selected Source during the selected time frame.
 
smaller captain wicked pointing to rightDid my sales funnel changes lead to faster sales?
Select the time frame before you made your sales funnel changes and view the sales velocity data. Then select the time frame since you made the sales funnel changes and view the sales velocity data. Hope the changes led to faster sales!
 
Did a particular marketing campaign lead to faster sales?
Select the campaign from the Campaign drop-down and then report will only show data from optins from the selected Campaign during the selected time frame.

Troubleshooting

This report should provide insights the day after you connect both a Contact and Order source to Wicked Reports.  No sales shown would only happen if you did not connect an Order source, or chose a filter option that did not have any sales.