Lead Conversion Rate
Measure the amount of leads that are converted into sales.
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What is Lead Conversion Rate?
Lead Conversion Rate is a metric used to measure the effectiveness of a business's marketing and sales efforts in converting leads into customers. It calculates the percentage of leads that take the desired action, such as making a purchase, signing up for a service, or becoming a paying client.
Lead Conversion Rate Formula
Lead Conversion Rate = (Number of leads converted to customers) / (Total number of leads generated) x 100
For example, if a company generated 500 leads during a specific period and 50 of them became customers, the lead conversion rate would be:
Lead Conversion Rate = (50 / 500) x 100 = 10%
Reporting frequency
Monthly
Why is Lead Conversion Rate Important?
The lead conversion rate helps businesses evaluate the success of their lead nurturing strategies, identify areas for improvement, and optimize their marketing and sales processes to drive revenue growth.
Example of KPI target
36% conversion rate
Audience
Marketing Manager
Variations
- Lead to customer conversion
- Average conversion rate
- Leads converted to sales
- Sign Up Conversion Rate
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