Would like some input on this. I can't give the full story of what's going on without disclosing info that I'm not allowed to share externally. Having some trouble identifying the root cause of our conversion rates in the sales funnel. I have an idea but would like to ask here to hear other opinions. I've dug into this with our CEO and he 100% believes it's a problem with prospecting and opportunity generation, and not the AE we have on these calls.
I will admit our ToFU is abysmal. We have a piecemeal marketing team that just runs PPC, has no real marketing plan, and frankly, no marketing experience outside of a PPC consultant who doesn't take time to learn about the product, which means there is no inbound coming in. We are a content based business and we don't even get any downloads... putting that aside now...
Currently, our Discovery to Demo conversion rate is 73% (From this, 98% are outbound sourced). BDR prospects, conducts discovery call, posts notes and recorded discovery call, etc. I'd say about 90% of the prospects who hop on a discovery call are inside our ICP.
From there, they're handed off to demo to an AE. This is where our conversion rate goes to 33%. (Demo to Trial conversion). It is worth noting that our AE is non-native English speaker, who is hard to understand sometimes, and is selling in the US with no prior experience and no US-native management above him. We have a huge drop-off here, and I personally think the conversion should be higher. (Wondering what other companies are seeing on post-Demo conversion rates).
AE is requiring BDR to post daily updates, because BDR is demotivated since only 4% of the deals he is sourcing are closing. BDR is (obviously) getting micromanaged here by AE.
Let's say we have 100 opportunities sourced outbound. Only 4 will close. On top of that, the AE does not sync his activity with these opps to Salesforce, or post his recorded calls, notes, etc. S there's zero visibility into the opps after BDR hands them off to AE.
There's a lot of things wrong with this, would love y'alls opinions. Will answer any questions I can to help clarify. Thanks!