Pardot Lifecycle Reports
As a marketer, your goal is to generate and nurture high-quality leads to increase revenue. Utilizing the Pardot Lifecycle Report, you are able to see where your leads are in their buying journey. This report is a great tool to help you optimize your nurture process and identify any bottlenecks to closing more deals.
The Lifecycle report includes the Pipeline funnel, trends over time, and prospect velocity information.
The Pipeline metrics displays the number of visitors and prospects at each lifecycle stage during the selected time frame. The different metrics and stages defined by Pardot are:
What Do Pipeline Metrics Mean?
By looking at how many visitors and prospects you have at each stage, you are able to utilize these insights to help you develop a marketing plan. For example, if you have more prospects that have not been converted into the MQL or SQL stage than the previous time frame, it could indicate that your demand generation efforts brought in more new leads and/or your prospects need to be nurtured more. It might also indicate that there are some bottlenecks in your communication strategy or your sales team not pulling your leads into the sales funnel properly. This would be something that would be worth looking into and maybe developing new tactics.
The Velocity chart displays the average time a visitor or prospect is in each stage. It is indicating the time from Visitor to Prospect, Prospect to MQL, MQL to SQL, SQL to won Opportunity, and the total days to get through the full prospect lifecylce.
When you use the Velocity chart with the Pipeline Metrics, you get a deeper look into the time it is taking to move from stage to stage. Again, this is where you should be looking at the efficiency of the lead’s journey through your marketing funnel and completing the sales funnel. You should compare to previous time frames to ensure that there is nothing hindering this process.
When analyzing this data, it is important to understand how long the typical sales process takes for non-marketing generated deals. Knowing this, you are able to compare the time it should take an MQL to get to a won opportunity as it would take a cold call lead to move through the sales funnel. Typically, prospects have already been educated on your company from your marketing content so the sales cycle, in theory, should be shorter. If it is taking longer, you should start asking yourself questions as to why this could be.
Questions to think about when looking at this report:
Understanding the Visitor to Closed Deal prospect lifecycle can help you improve marketing processes and make better forecasts based on historical data.
Are you working towards your Pardot Certification, or just want to be a better Pardot Admin? Attend our 2-day Pardot Admin Bootcamp! Space is limited!