GitLab ENT AMER SWAT - FY23Q1 Pipeline Coverage Push, 28 Mar 2022

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From YouTube: AMER ENT SWAT: FY23Q1 Integrated Marketing update March 2022

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AMER ENT SWAT: FY23Q1 Integrated Marketing update March 2022.

Slides covered in the video: https://tinyurl.com/3pvj7hah

A

Good point man.

A

um Yeah and then uh looks like the pipeline uh coverage for first order uh for stage three plus is still low for uh us, east and us west compared to historical average.

A

um It looks okay, I guess overall, but um I mean still low, but not terrible, but then for stage three plus it looks low and then for next quarter. It looks like the stage 3 plus coverage is also light compared to historical average for us east, and then it's light for fiscal year. uh Two quarters out basically 23 q3 is it's looking like it's light for us east and us west.

A

um So is this what matt uh you're seeing as well right wondering if there's anyone from sales that can validate this? Oh, I guess. Okay,.

A

And then, when you look at the pipeline x-ray by sales qualified source, it looks like the for this quarter. uh What's life is the u.s west sdr pipeline coverage.

A

And then for next quarter uh for us west and then for next quarter uh for us east, it looks like exporter and q3. uh It looks like the pipeline coverage is light for sdr uh qualified source for usbs.

A

So I guess it looks like based on this data. It seems like it makes sense to focus more on like this quarter on us west and then us east for future quarters like long-term strategies. What are what do you all think.

B

So agnes does this data change at all if we're not waiting until stage three to look at it, like I mean, is this or are we comparing this at least with like what's being created? Are we seeing any uptick in stage one or stage two or we see you know, um I'm.

C

A

B

Is like anything to be moving to stage three, it seems like we're waiting pretty far down the funnel. um Oh, there is as far as the sdr qualified source.

A

Gotcha so like this coverage um column, I think, includes all the stages.

B

Okay, I kept thinking I kept hearing you gotcha, okay,.

A

It looks like for next quarter like this. Eight is actually pretty high to me, but maybe compared to historical average is low, which is why it's in the red. So it looks like if it's blue, it's actually over 150. That's like the glossary up there, but like uh so 90 to 150 is green 70 to 90. If of historical average, is yellow and then anything below 70 is gonna, be red, but I think, based on what I heard previously like 3x, is what they wanted right, like for sales for coverage.

C

Yeah, that's historically what most companies do.

A

Yeah so anyway,.

D

um Also, I don't think in this when we look at next quarter. This also doesn't take a lot um into account pipeline push, so there's always going to be a percentage of push from the current quarter to next quarter, so we kind of have to better get a better understanding of what that percentage is to kind of kind of equalize. What these numbers would most likely look like for next quarter, if we're actually short or not.

A

Okay good point: um we can take a look at that wonder if who have that data um on kind of like pipeline push. Do you know what.

D

You can probably uh it used to be jake by lucky who used to manage this. I don't know who manages now. I don't know if it's still him, um you might want to be able to start with him and figure that out, because I know when, when dunk was here who's, um he was communicating with jake to get a better understanding of what that percentage. Push is not true.

A

And so he adds it to this number.

D

And then well there's so these numbers get updated every quarter so, um based on the current quarter,.

C

D

Get the push until the quarter completes so with.

A

That, oh, so, the next quarter is the one that is still.

D

Correct so, if we're looking at next quarter numbers and we're saying hey, this is we're short this much. This document is or this report is not going to take into account what that push is so what's pending in q1 that would be pushed to q2, so that would be a manual effort that you'd have to do to get understanding of okay. Logically, over historical data, we push x percent um over from previous quarters and then taking account of that actually gives us a shortage in pipeline.

A

Gotcha: okay, thank you for clarifying that okay, so it seems like at least for this quarter is what we can rely on for now right. The.

D

Most accurate data- I would, I would just say, not it's not like looking at this as an accurate point, it's a it tells us where things like in current quarter. We couldn't do anything right now outside of re-engaging.

D

Current um current leads to try to improve um q1 results, because the velocity doesn't make sense like if we were to do paid digital initiatives for q1 pipeline. It wouldn't work because velocity is so long.

D

So I think the the way to look at this we can't look at it now is like first get a better understanding. If we're looking at the next quarter understand what the percentage pipeline push is attribute that to um what we're seeing the numbers for next quarter and then determine hey. Where should we focus our time and efforts to build that pipeline for the next quarter?.

A

That makes sense all right, I'll check with jake good points, thanks matt um and then so this one I actually also pulled together. Our quarter to date results um based on yeah, just comparing that to last quarter. Just I think it's good to have like a regular rhythm on just knowing kind of like before the quarter end where we are um so like some interesting data points for us west. uh For example, a lot of there's a lot of um in terms of inquiry.

A

Count is actually looking really high compared to last quarter, considering that we're only maybe halfway through the quarter right, almost maybe 75 through the quarter, but it's already at 100 inquiry, but something to note um a lot of these inquiries are actually zoom in for lists and lead iq.

A

So, like really prospecting lists, um I would say, and um so like all all of that is usually like just used for sdr prospecting and move, usually move from inquiry to accept it by passing the mql stage, because before they are like mql, so that wouldn't count in the inquiry to mql conversion rate uh and as you can see, the mql to conversion inquiry to mql conversion rate looks low. It wouldn't count with the current way we're calculating things.

A

But I know robert is working on a new model which will then calculate that, but something to note um that's one main difference and it will also take. I think we push this into nurture, but then it will take longer for these people to mql, naturally, because they're colder in nature compared to somebody who have responded to like a marketing.

A

Initiative or like one of our marketing tactics, so uh 102 mql to date, um 11, sdr, saos and one sdr one. I put the numbers of um without prospecting list at the bottom here just for comparison, um but yeah. I think the most impacted would be the inquiry to mql, as you can tell like it looks really low. But it's really because of this high percentage of prospecting lists that is considered inquiries.

A

This quarter any questions so far.

A

D

Sorry agnes, what was our, what would our inquiry to sao conversion rate? Look like we removed that those lists.

A

uh Five point: seven percent, so it's actually higher sorry yeah. I have it at the bottom. So if you compare both uh like last quarter and this quarter uh just look at the without prospecting list, it's already looking higher and that's encouraging right because, like we're, we have the intelligent, nurture and things like that. This quarter. So I'm actually personally curious to see how that impacted.

A

It looks it looks better um but yeah with the this prospecting list. It kind of I feel, like muddies the water a little bit because I feel like these are not really, I would say.

D

Yeah, they don't count as they're, not technically inquiries. We haven't actually reached out to them.

A

Yeah so mona or megan do you know if there's any initiative this quarter? I I'm seeing like one new source, which is the prospecting elite iq that I haven't seen I didn't see last quarter, so is that, like new initiatives to download um names from lead iq for sdrs to prospect too.

C

It was a proof of concept we did for two weeks, so hopefully we're going to buy a tool for the entire.

D

Bdr org and.

A

See more of that gotcha? Okay! So that's the spike in because I was like. I didn't see this lit iq resources last quarter, uh but I definitely see quite a bit um this quarter, so yeah.

C

I think there's.

A

Over like 5 000 leads that we imported yeah, which I think explained this. I was like. Oh it's really high in inquiries, but it's almost like a false sense of like high inquiry numbers. So, okay, uh so I did break down by area, also increase an mpl by area. So, but this is kind of closer to the sales territory. um Our data for saos is still kind of like messy, so, as you can tell it's not mapped yet to the new territory, um but at the same time I just put it out here.

A

So you all can see for inquiries mql again similar to to a lot of these inquiries is um really prospecting lists, but looking like for west uh and central, it's looking like it's really high on the front end inquiry damn kill conversion, but nothing yet on the back end, or maybe the data is just dirty so out of this line it could you know really some of that belong to that area, um but yeah. I think these are the data points that we haven't really looked at before.

A

I think it's good to keep track as well, uh especially as the you know, because I think this is aligning closer to the sales territory. Actually, if we know like one specific, I know like, we cannot do specific, targeted ads for area uh at the moment, but maybe if we can like, if we notice something is as we keep track of these and if we notice something is light. For example, maybe we can like work with abm or anything to try and like help a specific sub area.

D

Yeah, I think, from an optimization perspective, it might might be good to get a better standing of what areas are converting better um and where lack of better things aren't converting, because there's there's two sides of the coin here is that, with our at least our paid digital pers, like campaigns, we optimize to wherever the conversions are happening, and that happens automatically within system right.

D

So it's almost a little bit of a self-fulfilling prophecy. It's like where things are performing is where the money tends to go yeah in a way, I would say it ignores like the areas that don't perform as well, but we're optimizing to an efficiency efficiency standpoint.

D

So if we get a better understanding of on the back end, what those what regions are converting and not converting, then we can talk about what's a better distribution at scale that we can, we can make with the budget to maybe help facilitate the areas because breaking it down into individual geos isn't going to work.

D

Primarily, your efficiencies go way down and things cost a lot of money, but there might be an opportunity to figure out two different campaigns of hey here's, a group that generally performs really well. So, let's break out the budget, so they continue to get some form of the budget. But let's focus in a little bit more budget on the areas that are struggling so that we can get more exposure there.

A

I love that idea, because that was what I I really want to and maybe, if we start tracking this, we can get ahead but like like yeah, maybe not specific to like splitting it this way. But if there's one that's constantly struggling or two, then maybe we can, like you know, carve out a little bit more of that budget. To your point.

D

Yeah we just gotta be careful, because what we did when we broke out ameri, east and mayor west, like I'll use the example of our cost per lead um metrics. um Our cost per leads, went from below 100 per lead to, like, I think, we're in the 130 150 range, so they got get more expensive by just doing that exercise. So we need to be careful when we do those splits that things do get less efficient and more expensive.

A

Yeah or maybe we can even test something like keeping, let's say, 80 of the budget or something like that with the way we currently segment things and then, like maybe carving twenty percent, only on the areas that, like struggle or something so testing, something like that, um yeah.

D

Yeah we can chat more about that and figure out how to how to accommodate.

A

A

And then this is for ease so basically seeing the same things um spike in inquiries largely due to the high increase in prospecting, lease lists with the lead, iq and everything, um but I think what's interesting in is actually, if you look because I carve out the without prospecting list, it's looking like some of the inquiries is actually translating to mqls for the prospecting lists so about half of the mqls are the ones that are not from prospecting lists. So the other half is from prospecting.

A

It's still a high percentage that did not, you know, get counted in the mqls. But it's quite interesting that you know some of them are translating.

B

I guess I just have to tell you this is so confusing, like this prospecting list, not with prospecting list. What's you know like, I know you have your head wrapped around it because you've probably been in it so much, but I really can't wait for robert to have this done in a way. That's like more digestible.

A

I know I agree uh because right now, it's just yeah. I just don't want to call it out like in queries when it's not really embraced. If that makes sense, and then also like wanted to make sure like if we're nurturing these at some point down the road and the mql, we should be counting them mql.

A

So this is really like a way around that for now, but I know that there's an issue that I linked in this um in deck, but once that's fixed the logic behind the decisions dashboard, it should automatically calculate like if they convert to actual at some point down the road so cool. Otherwise, it's like with this. If we have these like prospecting lists like spikes, it will really look like our inquiry. Mql conversion rate's low, which is you know, not great right, but really that's a false. It's almost like skewed, which is why.

D

Agnes from a visual perspective for people that um aren't on this meeting or um at a different level, it might be helpful to have a duplicated slide and actually put in the the non-list numbers um as a separate side, because um that's exactly what I just did is like. I just glanced over and didn't read the fine print.

A

D

It just gets called out better um so that people see that's okay, we're not without here's the scenario we have these. These lists that quote-unquote should not be counted as inquiry. So if we were to remove that, this is what our numbers look like and if we just justify it and have it on another slide, it might be helpful for other individuals.

A

Not yet makes sense, I will carve it out and, like put it in a separate slide, um to make it a little bit more digestible thanks for the feedback, um and then this is the breakout uh for east by by areas or sales territory um similar. I think the data is a little bit cleaner for um the amer east, so you can see the saos are seo. Data is a little cleaner, so it's mapping back to the new territory but looks like um new york is winning across the board so far and then uh mid-atlantic.

A

I think it's kind of like a little bit struggling on the front end and also the back end, so something interesting.

A

Then this is just a quick update of. I was hoping if sales were here uh well, I can provide a quick update as well on just where things are for um q1.

A

So with regards to campaigns the amer intelligent, nurture, I've been adding new devops assets as well as devsecops asset to the stream, which is what we want to like pivot towards uh and removing a lot of the ci and githubs and vcc.

A

Just because that's our area of focus, um we've been I've been working also with uh the paid apps team or matt's team on adding I'm just really focusing a lot of our budget in you know, with into devops assets like the dora metrics, as well as the new um voi report, we're focusing really on budgets there and removing vcc ci as well as udops, and then working on the tech, demos continuously and finally, like I've secured a date for the time to value webinar with professional services.

A

I think that one will be very, very exciting because it will really tell the story of you know. Moving over to gitlab is not going to be as difficult, and you can actually do it through stages. That will happen in on april 27th. Basically,.

D

Hey agnes, are you do you have a pulse on like volume at stage I'm trying to understand like problem areas like? Is it do we have problems in total number of inquiries coming the door? Is it more of a progression volume issue? Do we have a pulse on what what those numbers look like and if we need to focus in on certain areas.

A

I think going back to this slide right. I do think that if you compare the inquiries number, it's really where it's the big concern. I think because, like like, for example, q4 overall, we have 100 inquiries without prospecting, lists right for ease and right now it's only at 239, but if you look at the conversion rate, actually, it's okay. If you look at the without prospecting list, inquiry to mql, for example, is 63 without prospecting a list compared to 31 q4, so that is actually looking.

A

Okay, so really it's the volume that we really need- and I think that's what I I'm seeing also um for.

D

A

West so like 193, compared to 629 right volume, wise inquiries and we're already like 75 percent through the quarter.

D

Okay- and this is just first order- correct right: okay,.

A

So that's where I feel like we need to brainstorm. I don't know how I mean it's pretty late in the game at the moment, but you know anything we can do to help increase. That inquiry number would be great, so yeah open to discussing this. I know we only have like five more minutes, but if you all have any ideas on what we can do.

A

I know like the tech demos is still going on um megan. Are you seeing anything on the abm side that we can do uh to help with the inquiry's number.

C

We're we have our campaigns running and I'm about to pull. We launched a little late, so I'm about to pull our 30-day metrics um so I'll, compile those and tag you and then we're going to be relaunching our paid social.

C

While we get growth, kitchen spun up, but things are kind of a little bit in limbo as we wrap up finalizing our new abm account list with sales, which I believe jackie said, should be wrapped up this week and then um once we have that, I think it'll be a lot easier to hit the ground running because we'll have our our set list and then we just finalized our demand based audit pretty much today. So with those two things completed, I think we'll be able to start tackling more and helping out where needed.

A

Gotcha, thank you and matt. I think one thing I, and maybe it's something to bring up with leslie that I wanted to try about, but I don't even know if we we have the budget for it. It's the whole, I think like with devsecops, for example, we haven't really done it for pro like leverage it for prospecting, but with the push from the man base in terms of um kind of like intent, data and stuff, like that, the people that have responded to at least gitlab.

A

We wanted to test out running um campaign for it um to promote this, the software compliance or ebook. I believe I think this is what like. When we launched the devsecops campaign, we we wanted to do it for prospecting. I believe, um if it's targeted and then for trying to also um if the asset works right like target the deaf professionals, which is what we haven't done um in the past, so yeah, something to think about. But I don't know if we have budget for that either. Well,.

D

I don't think it's an issue of budget like it's up like we can make decisions on where things run, it's an issue with security being a prospecting activity and being able to close it in a efficient manner, because from the commentary is that, if you're first engagement with gitlab is just security, there is more about, like you have to have more more parts of the of the gitlab as a product um installed before you can use security features right.

D

So in that sense, does that make sense to have that set up as a prospecting campaign? Knowing that the velocity on that's going to be quite a bit longer than we currently see.

A

But, for example, there's assets: that's like the how to achieve dev cycles with gitlab ci cd, that's covering both ci cd and devsecops, and we could. You know, use that as a targeting for prospects for like deaf people, then I feel like it's. It's not just touching on specifically.

A

Security is combining both the cicd features and also like security right.

D

Right so I would, I would tread lightly on spending more money there until we get a better pulse of how how those type of leads progress, because if we, if we spend money on something that doesn't sao as quickly or closes quickly, we essentially run into the same issue.

A

Yeah I mean what about testing layering the because like if they've already, and we only target people who've already engaged with gitlab previously using the demand demand-based data. um So not just like straight up that new people, uh because remember leslie, said something about layering. That data point.

D

Can you expand on that.

A

She said that you can actually push um like the audience from the man base that have engaged with gitlab previously and then layer in that information to it's almost like a retargeting actually.

D

It is targeting yeah.

A

But the push uh these prospects- I mean, like sorry, use these deaf assets to promote to those people.

D

So you would take people with the intent of security from demand based push it as an audience into linkedin and then serve the um the compliance asset that we were saying.

A

No, she said something like if they've engaged with gitlab before and then we can layer in um the.

D

uh Language, what's your definition of engage with like anything that engage anything at gitlab mm-hmm.

A

D

That's that's just part of our retargeting effort, so we have that already. So you what you should! What you do is like put it in part of like the retargeting strategy as an asset yeah. So.

C

It's not you wouldn't push it from.

D

If you're looking at people that engaged with git gitlab, it wouldn't be necessarily from demand base, we just pulled our list from marketo of like who downloaded an asset. I see.

C

You can also pull that and demand base for what it's worth with like various filters and get like as granular as needed. I think leslie was actually testing something um and agnes. You were on the issue, but I can't remember what issue it was now.

A

I think this is what she said matt because with and we can take this offline. I know we're kind of top of the hour but like uh because with demand base, you can target on the account level and not on the person level with marketo unless it's on the person level. So it's like you, know more.

A

It's like, I think, she's like casting a wider net in general, but then we want to layer that, with the persona, I guess like people engage with gitlab and then layer in with the persona data um and then basically serve those those security assets.

D

Okay, let's chat about it more. I think I just need to get in the details of what you're talking about here, because I'm a little confused of what you're asking for.

A

Okay, yeah, we can, we can uh maybe even loop in leslie, because she had that idea before she brought it up, and I think she's gotten that started so.

D

uh Yeah sounds good.

A

Yeah I'll set up a separate meeting, but anyway.

B

Hey agnes, I could have a quick question on these on this one thing: 236 mqls, when we look at that number, are we knowing that? Okay, these are 236 mqls, that didn't get moved to like bad data or unqualified, or is that, like every lead status still.

A

A related status, okay, anything that have passed through uh with mql dates, stem okay, yeah, gotcha, just wondering cool, so anything here, uh any ideas again like that. You know feel free to add to the doc as well. If you have any ideas that can help with the inquiry numbers, because I think that's really where we're struggling, I would say.

B

And when you say it could help with the inquiry numbers you're, meaning like how do we get more inquiries to mql.

A

Yeah or not more equals to mpl. How do we get more inquiries in general so that we can convert them to mql.

B

A

So that is it for uh the data and I know we are at the top of the hour. So uh if you all need to drop, feel free to drop and um I'll send I'll set up a separate meeting with you matt. I think one week on this with leslie as well.

D

A

He's out of the.

D

Office this week, so all right.

B

One piece of feedback- and maybe I'm just missing this agnes- is like I feel like I just want to make the most of this meeting so that you get the feedback that you need and I'm just wondering if maybe you could give us like hey. These are the highlights the clip notes of the learnings that we need to pay attention to and each person that's on this meeting. That's a stakeholder owner in this.

B

Like can you come with some thoughts around xyz, you know, and so that way people are digesting beforehand, but then we're coming to this meeting with some clear takeaways and insights and hopefully some things where we can go and action something afterwards.

A

That's helpful, yeah, okay I'll do that next time um maybe do like an exact sum so that you know people can kind of get their heads wrapped around. This is something new that we're trying I feel like we haven't really done any of this I mean this is a recurring meeting that we recently set up. uh So the format is still pretty like not concrete, but I feel like we'll we'll get better so.

B

Yeah totally, I just know you're putting a lot of work into this, and I just want to make sure that we're giving you what you're hoping for this meeting as well so.

A

Yeah for sure cool.

B

Awesome. Thank you.

A

Thank you yeah and then really the general idea is to do that. Right, like this meeting, is to get cross-collaboration between sales sdr's so that we we can all kind of like rally around the same numbers and how to get better if we need to get there and catch that ahead of time, so yeah totally. But I think another thing that I can do is maybe I'll send you the issue that leslie or even the recording that where she talked about this in the pmd meeting um on the retargeting stuff. So.

A

All right all right thanks, everyone bye.

C