What is FUNNELCAST?
Funnelcast brings the analytic disciplines of B2C marketing to B2B sales—making it accessible to management. We have seen that applying statistics and machine learning to sales can enable huge productivity improvements. Everything we do is driven by our core beliefs:
B2B sales and marketing is needlessly inefficient.
Inefficiency stems from three fundamental resource allocation issues: wrong staffing levels, wrong market focus, and wrong goals.
When you right-staff, right-focus, and right-goal you create an unstoppable, highly efficicent, and self-perpetuating culture of success.
So, what is Funnelcast?
It's a set of algorithms and their implementation in software that help analyze sales funnels. The software is an advanced, self-contained exploratory analytics application.
What does "analyze sales funnels" mean?
For each stage in a sales pipeline, the algorithms model the overall average chance of a sale over time (we call this the "cumulative win-rate" or just the "win-rate"), including adjustments for 'stale-ness’ (opportunities stuck in a stage for some amount of time). This basic model can be used to develop many sales funnel analyses, including two particularly central ones:
* Given the state of all opportunities in a funnel as of a specific date, estimate the number of sales over time going forward from that funnel.
* Estimate probability of a new opportunity becoming a sale over time (useful to determine workload of new opportunity generation required to meet goals).
The algorithms use tools from classical statistics and machine learning related to survival analysis and clustering; they are trained on a set of recent historic sales data emitted from CRM tools like Salesforce.
It sounds easy. People talk about closing (fill in the blank) percent of opportunities all the time. We find that most analyses fall short, because they ignore:
How long it takes
Open opportunities (because their outcomes are uncertain)
Where opportunities start in your sales funnel
These things matter a lot. Funnelcast provides a deep analysis of win-rates—taking all these into account. This underlying analysis is what powers the insights that improve productivity.