A Newbie’s Explanation of FunnelWise

Explaining FunnelWise

Ever have that conversation where, after getting a new job, you are trying to explain to your friends and family exactly what it is you are going to be doing with your life for the foreseeable future? But more importantly, you’re trying to describe your new company in layman’s terms, without getting into too much detail and without sounding super techie?

Well, below is an actual example of precisely that type of conversation I had with one of my friends since joining FunnelWise a few weeks ago. Aside from enjoying the witty banter, I’m sharing this with you today so that, if you would in turn like to share an explanation of FunnelWise that is written in the way humans normally talk (as opposed to, say, the way products are often described on websites with inscrutable corporate,  HQ-speak), then please feel free to send them a link to this blog post!

What Does It Do?

My friend and I had just picked up Buffalo Wild Wings, and on the drive back, she asked me, “How’s the new job going?”

I replied, “It’s awesome. The people and the culture are great, and the product is really slick.”

“Okay, so dumb question,” she warned me. “But what does FunnelWise, like, do?”

I chuckled. “Not a dumb question at all. You guys use Salesforce as your CRM, right?”

(My friend works at a tech company on the other side of town, so I have the benefit of her knowing all of the lingo a potential user of FunnelWise would know as well.)

She said, “Yeah, but our data in Salesforce is kind of a mess.”

“Yup, everybody’s is, and that’s kind of the point because FunnelWise organizes the data for you. And which marketing software do you guys use again? Is it Marketo, Pardot or HubSpot?”

“We use Marketo.”

“Okay, cool. Well, say that your company was a FunnelWise client. We’d integrate with both your Salesforce and Marketo instances so we could pull all the data from both of them and put it into FunnelWise so it’s in one place instead of two. That way both departments are looking at the same data in the same application instead of arguing over whose application has more accurate data.”

How Does It Display All That Data?

“Got it so far,” she said. “So then how does it display all of that data from both places so it actually makes sense?”

“We simply mimic the stages you guys already use in Marketo and Salesforce to qualify or reject leads, so you don’t have to change your existing process,” I explained. “For instance, I’d bet if somebody hits your website, Marketo tracks it in that initial stage, then there’s usually a follow-up email from marketing, and if the prospect is qualified, then it’s sent over to the sales team, who then has their own stages in Salesforce, right?”

“Basically, yeah,” she said.

“Right. So that’s how it gets displayed in FunnelWise, in the shape of the funnel,” I said, putting the base of my palms together and then extending my hands out in the shape of a V. “All of your potential prospects are at the top, which is where the funnel is typically biggest. Then, as you move down the marketing and sales stages, there are naturally less leads and then deals as they get qualified or rejected, so at the bottom where the funnel is smallest represents your closed won deals.”

How Does That Help?

“Ah, I get the funnel part of it now,” she said. “But, not to be dense or anything, how does that help our marketing and sales teams?”

“Okay. Let me make an assumption, and you can tell me if I’m right or wrong. Your marketing team’s primary focus is generating a bunch of leads to send to sales, and they spend almost all of their day in Marketo to do that, right?”

“I don’t work super closely with marketing, but from the people I know in that department, yes, that sounds about right,” she answered.

“Yup. And on the other side of it, the sales team’s primary focus is closing as much revenue as humanly possible, and they spend almost all of their day in Salesforce, right?” 

She sighed. “That’s definitely true. I have to clean up their mess in Salesforce all the time.”

(Forgive my friend, as she’s in accounting, so salespeople can often make her life difficult.)

“For sure, but you see the disconnect there,” I said. “Your marketing team uses one software all day and your sales team uses a different software all day. So it’s unlikely they know how well they are working together or maybe even aware of what is happening in each other’s departments, am I right?”

What is the Big Selling Point?

She nodded, “Okay, I think I see where you are going with all of this. So by showing both the marketing and sales stages all in one funnel, both departments can use FunnelWise to see how many leads and deals are moving through the entire process from cradle to grave.”

“Exactly. It highlights strengths and weaknesses in your overall marketing and sales process, depending on how many leads and deals moved on from one stage to the next. You can see which stages have the biggest drop-off and which ones have the most success.”

She asked, “So, it can basically show you how good the leads are that marketing is sending to sales, and it can also show you where sales is losing deals later on?”

“Yup, you got it. Plus, you can see how well you did in whatever timeframe you want. This month versus last month, this quarter versus last quarter, this year versus last year, and so on.”

What Can It Do That I Can’t?

“Sounds great,” she said, but then paused. “Not to be mean, but in theory, couldn’t I figure all of this out on my own if I had access to both Marketo and Salesforce and pulled a bunch of reports?”

“In theory, yes, but you’d have to manually export all of the data on a daily basis and then organize it all and then do about a gazillion formulas in Excel, all of which would take you hundreds or thousands of hours to do on your own. Which is why our CEO created FunnelWise in the first place. He was annoyed that he had to manually generate the data he wanted and it would take him days or weeks, so he created a software that could automatically do it in seconds. Plus, even if you did this manually on your own, the reports you could run right now without FunnelWise would only show you data from the past.”

“What do you mean? FunnelWise can look into the future?”

“Yes. That’s what really sets us apart. Since we have so much of your historical data, we can extrapolate how many leads, contacts, and opportunities you are going to need in each of your stages to hit your future goals. We can also warn you about which of your stages are falling behind, so you can adjust and continue to keep pace. Essentially it’s designed to make marketing managers’, sales managers’ and executives’ jobs easier.”

“Sounds impressive,” she said and paused again. “But did you just use the word ‘extrapolate’ in a sentence?”

“Shut up.”

“You’re such a nerd!”

“I know, but at least I’m a useful nerd.”

Want to Become a Funnel Nerd?

To learn more about the Revenue Funnel Science methodology and how to operationalize your funnel, download “The Ultimate Guide to Revenue Funnel Science or register for an upcoming 30-minute demo.


Related Blog Posts