New Business
Card in Atrium: Bookings per Meeting - New Business card
Overview
Total new business bookings per rep for a given period, divided by total meetings that occurred against all new business Opportunities closed (both won and lost) in that period. (Learn more about how Atrium Actions & Objects work to calculate metrics.)
Why It’s Important
It gives a measure of AE meeting productivity and, by extension, selling quality - what amount of bookings does a given AE generate per meeting, as a unit of work.
Who It’s Useful For
AEs and their managers.
Definition
The sum of all new business bookings closed in a given period divided by the number of meetings associated with all new business opportunities Closed Won and Closed Lost during the period.
What Data Is Used
Bookings data comes from Salesforce Opportunity data, where the Opportunity Type indicates a new business opportunity, with bookings pulled from the Amount (or custom) field, and the Close Date field determining whether a booking is included in the timeframe or not. This card pulls the standard Amount field by default but can be updated to pull from a custom field in the admin settings.
Meetings data includes all meetings on an individual’s Google Calendar where (1) the individual is the owner of or an attendee on a calendar invite and (2) at least one attendee on the calendar invite either has a corporate email domain that matches that of the Account associated with the Opportunity or has an e-mail address that is associated with a Contact on that Opportunity’s Account in Salesforce. Meetings must also occur between an Opportunity’s Created Date and its Close Date in order to be associated to that Opportunity.
Alerting
Alerting for this card is based on a trailing 90 day period.
Back of Card
The data on the back of this card shows, for each Opportunity included in the calculation, the Opportunity Name, the Bookings per Meeting as calculated for that specific Opportunity, the number of meetings Atrium was able to associate to the Opportunity, and the Amount of the Opportunity for those Opportunities that were Closed Won or the phrase “Closed Lost” for those Opportunities that were lost.
How to Use It
Bookings per Meeting allows you to see how efficiently your AEs are converting prospect meetings into bookings, if you have any outliers in a given team, and whether that efficiency is improving over time. It also allows you to see whether your team is tightly banded, as you would expect for teams running a more repeatable sales process, or more variable between reps, indicating opportunities for improvements among those who are less efficient.
On the back of the card the data is helpful for both seeing the number of meetings that were required for a given deal to win, or, also important, if a rep is having too many meetings with opps that ultimately close lost, indicating something problematic in the qualification stage.
Bookings per Meetings connects a key leading indicator directly to outputs so that reps and teams can better understand exactly what is required to hit their numbers and see results.
Existing Business
Card in Atrium: Bookings per Meeting - Existing Business card
Overview
Total existing business bookings per rep for a given period, divided by total meetings that occurred against all existing business Opportunities closed in that period.
Why It’s Important
It gives a measure of AM efficiency - how much selling effort was required to generate the bookings that AM closed.
Who It’s Useful For
The AMs or CSMs responsible for existing business opportunities and those reps’ managers. This card can also be useful for AEs and AE managers if those reps work renewal and upsell opportunities.
Definition
The sum of all renewal and expansion bookings closed in a given period divided by the meetings associated with all existing customer opportunities Closed Won and Closed Lost during the period.
What Data Is Used
Bookings data comes from Salesforce Opportunity data, where the Opportunity Type indicates an existing business opportunity, with bookings pulled from the Amount (or custom) field, and the Close Date field determining whether a booking is included in the timeframe or not. This card pulls the standard Amount field by default but can be updated to pull from a custom field by notifying Atrium.
Meetings data includes all meetings on an individual’s Google Calendar where (1) the individual is the owner of or an attendee on a calendar invite and (2) at least one attendee on the calendar invite either has a corporate email domain that matches that of the Opportunity or has an e-mail address that is associated with a Contact on that Opportunity in Salesforce. Meetings must also occur between an Opportunity’s Created Date and its Close Date in order to be associated to that Opportunity.
Alerting
Alerting for this card is based on a trailing 90 day period.
Back of Card
The data on the back of this card shows, for each Opportunity included in the calculation, the Opportunity Name, the Bookings per Meeting as calculated for that specific Opportunity, the number of meetings Atrium was able to associate to the Opportunity, and the Amount of the Opportunity for those Opportunities that were Closed Won or the phrase “Closed Lost” for those Opportunities that were lost.
How to Use It
Similar to Bookings per Meeting - New Business, Bookings per Meeting - Existing Business allows you to see how efficiently your Account Managers are converting customer meetings into renewal and upsell bookings, whether you have any outliers in a given team, and whether that efficiency is improving over time. It also allows you to see whether your team is tightly banded, as you would expect for teams running a more repeatable customer outreach and sales process, or more variable between reps, indicating opportunities for improvements among those who are less efficient.
You can use the back of this card to see whether there are any specific opportunities driving inefficiency - either a large account that churned, or a “saved” account that required a number of meetings that was well above average (which would drag down averages). If an AM has lower bookings per meeting because of having a high number of customer meetings for each renewal opp, you might want to understand what’s driving this behavior and make a judgment call as to whether this is the right customer success motion. If a high number of meetings aren’t required, then you could coach a rep that his time may be more efficiently spent elsewhere. Conversely, an AM with low bookings per meeting on strong bookings may have been assigned a higher proportion of at-risk customers, which may impact decisions about account allocation going forward.