Sales Goals (targets)
Lexio allows you to add performance targets to your stories so you instantly understand how you are doing relative to your goals.
- Adding a Goal or Target
- Goal Analytics
- Narrative Content
Adding a Goal or Target
When you are viewing a story, you will see a Goals section in the top right of your story. Click "Manage" to open a modal where you can input your target for that time period.
You can set goals for various time periods and receive insights about how you are tracking towards each of them.
Note that the goal is also specific to your filter setting. If we add a filter, the scope of the story changes and the goal will no longer be relevant, so you won't see the goal anymore. Lexio will remember the goals that have been input for each specific filter combination.
Another thing to keep in mind is that goals are specific to Lexio users. This means that if you share a story with another user, any goals associated with the story will not be maintained.
Adding a goal provides more context for analysis, so Lexio will present additional information about performance relative to that goal. The goal analytic makes a projection about where your bookings (or other metric) will be at the end of the selected period. There are two main factors that are used for this projection:
- Current value - the current amount of bookings (or other metric) as of right now
- Expected Growth - expected growth is derived from growth last year in the equivalent period-to-date. It's looking at 1) the value of the metric on the same day last year, and 2) the value at the end of the period last year. The percentage growth between these two values is the expected growth.
The projection for the current period is based on applying the expected growth to the current value. Here's an example to illustrate. This is solving for the Q1 2020 projected bookings as of 1/23/2020.
- QTD Bookings as of 1/23/2020 = $1.6M
- QTD Bookings as of 1/23/2019 = $1.4M
- Final Q1 2019 bookings = $3.9M
- Projected Q1 2020 bookings = $4.46M
- $1.6M x ($3.9M / 1.4M) = $4.46M
Note - The projection is not just a continuation of the current pace so far in Q1 2020. Lexio relies on historical growth rates as a basis for expected growth rates in the future.
Narrative Content - Here are the places additional goal content will show up.
Comparison to previous periods - This insight will always comment on the performance of the selected period relative to historical trends, e.g. "This quarter, bookings are better than past periods". But when you add a goal, it will also comment on performance relative to the goal.
e.g. "In Q1, bookings are tracking to exceed their quarterly goal, and bookings are better than past periods".
Comparison to Goal - A new insight that will appear in the second paragraph that mentions the goal for that period as well as the projected difference, either exceeding or missing the goal.
e.g. - "In Q1, bookings are tacking to exceed their quarterly goal ($3.3M) by $365K"