Demand Waterfall Model
The SirusDecisions Demand Waterfall is a framework that covers the process around tracking a lead through five key stages across marketing and sales. Using this process actual and required lead volumes, conversion rates and activities can be tracked and measured for performance of the customer acquisition funnel. The Demand Waterfall framework makes it establish and distinguish clear areas and transitions for marketing or sales groups to focus on. The process starts with a known prospect who expresses interest and ends with a closed "won" opportunity
Lead Stages
- Inquiry
- Marketing Qualification
- Sales Acceptance
- Sales Qualification
- Close
Inquiry
Description: When a prospect expresses interest in what the organization is selling through formal interaction with a piece of content. These users are recorded into a marketing automation system and evaluated to be passed further into the process.
What it Looks Like: User visits a website selling a product
What it Looks Like: User visits a website selling a product
Marketing Qualification
Description: When a prospect is evaluated to become a lead. A lead is someone who could benefit by using the organization’s product or service and fits your company’s definition of the ideal customer. During this stage, marketing determines whether an inquiry satisfies the criteria that marketing and sales agreed on when defining a lead. This includes how and when to pass the lead on to sales, when it should be further nurtured before sending to sales, and when it should be deleted from the marketing database.Today marketing qualifies leads at this stage by scoring them in a marketing automation system based on the prospect’s activities (such as visiting the website, downloading content, and attending an event) and declared interest in a product or service.
What it Looks Like: er on a website selling a product who downloads a trial of the product, fills out a "contact me" form.
What it Looks Like: er on a website selling a product who downloads a trial of the product, fills out a "contact me" form.
Sales Acceptance
Description: When leads are accepted by sales group because they meet a set of set of predetermined criteria. During this stage, the sales team takes on leads that the marketing team has qualified based upon the agreed-upon criteria.
What it Looks Like: A lead that has been qualified by marketing and is formally accepted by a sales agent who is compelled to work the lead in a given timeframe.
What it Looks Like: A lead that has been qualified by marketing and is formally accepted by a sales agent who is compelled to work the lead in a given timeframe.
Sales Qualification
Description: When sales team accepts leads and prioritizes them as opportunities. An opportunity is a qualified lead who stands as a potential deal to close. During this stage, the sales team uses different criteria (time, budget, lead role) to qualify a lead as an opportunity for close or decide the lead needs to be sent back to marketing for further nurturing because the contact may be a good fit and display interest in the company’s offerings but might not yet be ready to buy.
What it Looks Like: A lead that has evolved and qualified into an opportunity by a sales agent.
What it Looks Like: A lead that has evolved and qualified into an opportunity by a sales agent.
Close
Description: When the sales team closes an opportunity as a "win" or "loss".
What it Looks Like: A sales qualified opportunity is closed. The user is recorded as a customer and has purchased the product.
What it Looks Like: A sales qualified opportunity is closed. The user is recorded as a customer and has purchased the product.