Lead Conversion Rate Calculator
What is lead conversion rate?
Lead conversion rate is a marketing metric that measures the percentage of leads who performed a desired action, from the total number of leads generated. This desired action can be clicking on a CTA, downloading a resource, filling up a form and so on. This rate is generally calculated over a specific period of time. It is a crucial indicator of the effectiveness of your marketing strategies.
How to use the lead conversion rate calculator
To calculate your lead conversion rate, enter the total number of conversions that happened and the total number of leads you had during the specific period. The calculator will automatically compute your lead conversion rate.
Lead conversion rate formula
Lead Conversion Rate=(Number of Conversions/Number of Leads)×100
Understanding the lead conversion rate result
The ideal conversion rate will depend on your industry and the targets that you have set. However:
- A high conversion rate means that a larger proportion of your leads are converting. This indicates that your marketing and sales strategies are effective.
- A low conversion rate suggests that you are not being able to convert leads effectively. This indicates that you need to optimize your approach and improve your marketing strategies.
When to calculate lead conversion rate
It is important to keep track of your lead conversion rate regularly. It must especially be calculated in the following situations:
- At the end of each sales cycle or quarter
- After implementing new marketing or sales strategies
- While evaluating the quality of leads from various channels
- Before allocating resources for various lead generation channels
How to calculate Lead conversion rate with example
Let’s say that your business generated 1,000 leads from a marketing campaign. Out of those 1,000, 150 purchased your product, which was the desired action. You can calculate the lead conversions rate as follows.
Lead Conversion Rate=(Number of Conversions/Number of Leads)×100
Lead Conversion Rate=(150/1,000)×100
In this example, your Lead Conversion Rate is 15%. This means that 15% of your leads were successfully converted into customers.
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