Marketing funnel velocity is the rate of change from a prospect to a lead or contact. It can also be referred to as the rate of change from an opportunity to a customer, or the rate at which a person moves through the marketing funnel.
Why is funnel velocity important in marketing?
Funnel velocity can help to outline several different processes in terms of revenue. On top of that, it can also help to determine the internal movement of the company in terms of business processes.
For example, let’s say a lead enters your website by clicking on an infographic. The rate at which someone from within the infographic publishing company responds by moving the prospect through the funnel into an lead demonstrates the rate of change. This example shows how a velocity measurement touches on several company aspects — design, marketing, and sales.
Measuring marketing funnel velocity is advantageous for several reasons. For one, it can show which processes are moving faster than others. It can also show where certain parts of the business need to increase their performance in order to move opportunities through the funnel faster. This can demonstrate the marketing funnel processes that are operating at the highest efficiency.
You can track the velocity of specific content and campaigns through TrackMaven’s Campaign Analysis Reports.
In a Sentence
Matt measured his marketing funnel velocity after he converts 10 leads and examined how they have progressed through the funnel.