Revenue Cycle Model Best Practices

[Thomas_Morgadin]

Hi everyone,

I'm working on getting our Marketo Analytics to the next level and I'm reading a lot on RCM and how this can provide with precise reports on how our leads go from one stage to another.

I started to set up a first RCM based on what I set as a leadlifecycle :

My question is : is something like that too complex to monitor? 

I've seen a bunch of "compact" RCM focused on the success path with almost no Detours (or no Detours at all) that are not always covering every cases like the following (the default examples on Marketo) :

Here nothing happens at the end of the road

 Success path only

Is this something I should consider?

Also, I saw here that I should manage RCM transitions with a Data Value Changed trigger - meaning that I should set actual transitions in my Leadlifecycle Smart Lists : https://nation.marketo.com/t5/Product-Discussions/Revenue-Cycle-Model-First-Time-Setup/m-p/190343#M1...

I don't see why this should not work. But maybe it's not the best solution?

Well I take any advices on that topic as this is new to me.

Thanks,

Thomas

[Harish_Gupta6 · Accepted solution]

The RCM model should be set up after the discussion with the Sales team and by understanding the lifecycle flow in the Sales model. Sometimes we design complex models as per business requirements and sometimes a very easy one.

Like in the first model which you have shared there are many things which raised the questions:

1) If a person is already on the Prospect stage then why to move him back on Interested or Known. The person has already reached the desired score. Are you following the reduction scoring model?

2) Interested and Prospect stage should be connected to Disqualify and Recycle. To be qualified should be connected to Recycle so if the person is not a good 

3) If a person already reached a WON stage which means a successful business then what is the reason to move him back as recycle? Are you using the same status for Lead and Contact object like Known, Interested.... There is no meaning of moving a successful customer back to the Known stage. If you are creating a duplicate record for that customer then it's good to move the new record as Engaged but not as known. Ideally, the contact has different stages than Lead object. 

4) Not understanding in which scenario the lost opportunity will move back to Opportunity again. 

[Thomas_Morgadin]

Hello @Harish_Gupta6 and thank you for your contribution.

Here are the details of my case:

1) If a person is already on the Prospect stage then why to move him back on Interested or Known. The person has already reached the desired score. Are you following the reduction scoring model?

=> Yes, after 30 days of inactivity, there is indeed a reduction of the scoring. That's why a Prospect can revert to Interested, and Interested to Known.

3) If a person already reached a WON stage which means a successful business then what is the reason to move him back as recycle? Are you using the same status for Lead and Contact object like Known, Interested.... There is no meaning of moving a successful customer back to the Known stage. If you are creating a duplicate record for that customer then it's good to move the new record as Engaged but not as known. Ideally, the contact has different stages than Lead object. 

=> For the moment I kept the standard Marketo setup for Opportunities which is: "If the contact is still on Won stage after 90 days > Recycle".

4) Not understanding in which scenario the lost opportunity will move back to Opportunity again.

=> Here as well I kept the standard Marketo setup (this is the case for "Won" as well) : the Opportunity status is the following : "Added to Opportunity > New status = Opportunity". So if a contact is at Lost Stage, it has 90 days to be added to a new opportunity or it is recycled. Same thing for Won stage.

I'm also considering having a Recycle step for Contacts at the "Accepted by Sales" stage that did not trigger any Opportunity past 90 days. Is it nonsense? Or else I fear they won't be contacted by our sales team on a regular basis.

What are your thoughts? Happy to exchange on that.

[Thomas_Morgadin]

Following up on this topic, I had the time to think and improve the way we manage leads between marketing & sales.

3) If a person already reached a WON stage which means a successful business then what is the reason to move him back as recycle? Are you using the same status for Lead and Contact object like Known, Interested.... There is no meaning of moving a successful customer back to the Known stage. If you are creating a duplicate record for that customer then it's good to move the new record as Engaged but not as known. Ideally, the contact has different stages than Lead object. 

=> I get what you meant now. I get that there is a border between the "lead" phase and the "contact" phase and if the lead crosses that border, there is no meaning for it to go back to that early stages. That's why I run a loop for Won and Lost Opp. : after 90 days without any new Opp., they go back to the "Accepted by Sales" stage. And I'm considering sending an alert to TeleSales to review these contacts to see if there is something new to do with them at that stage.