Overview: Number of second, third, fourth, etc. meetings with external accounts per each initial meeting a user has with external accounts.
Why it’s important: Most teams operate within a band when it comes to the ratio of follow-up meetings to first meetings, and deviation from that ratio tends to indicate something is up that’s worth paying attention to.
What the follow-up meeting ratio tells you is how much of a rep’s total meeting effort is being put towards top-of-funnel engagement versus continued interaction with an account to move a deal towards close.
Who it’s useful for: AEs, AMs, and sales managers.
Definition: This card assigns each meeting the categorization of “initial” or “follow-up” and divides the number of follow-up meetings over the number of initial meetings for a given timeframe.
An initial meeting is the first meeting with a new account, or the first meeting with an account after a previous opportunity with that account was closed, for that rep. This means that, for a brand-new rep, all meetings will start off as initial meetings, because they will each be the first meeting between that account and that particular sales rep. Any additional meetings with the same account will be categorized as follow-up meetings.
The initial meeting indicator is “reset” after all open opportunities with an account are closed. If there are no longer any open opportunities with an account and a rep re-engages that account, we will count another initial meeting.
What data is used?: 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 or has an email address that is associated with a Contact in Salesforce.
Opportunity and Account data in Salesforce, for the purpose of resetting the “initial meeting” counter if meetings took place with that Account while an Opportunity was open but all open Opportunities have since been closed lost.
Alerting: Alerting for this card is based on a trailing 30 day timeframe. If at any point a rep’s follow-up meeting ratio over the trailing 30 day period is significantly above or below the prior six-month average, an alert will appear. Alerts will also show up if a rep’s trailing 30 day follow-up meeting ratio is significantly above or below his or her peers.
Back of Card: The data on the back of this card shows, for each calendared external meeting, the “Company Name”, which indicates either (1) the Opportunity Name if we are able to associate the meeting to an open Opportunity, (2) the Account Name if we are able to associate the meeting to an Account but not to an open Opportunity, or (3) the external email domain if we are not able to associate the meeting to an Account in Salesforce; the Meeting Name on the calendar; the Meeting Type of Initial Meeting or Follow-up Meeting; and the Opportunity Size if we were able to associate the meeting to an Opportunity.
How to use it: A low follow-up meeting to first meeting ratio may be an indicator that an AE is having trouble moving deals down the pipeline and, as such, may warrant a coaching conversations around how to set clear next steps and ask for the next meeting. An overly high follow-up meeting ratio may indicate too few initial meetings and suggest a future pipeline issue.