Google provides many granular options for measuring digital marketing success , including various key lead conversion metrics . Getting started involves a few quick and easy steps.
2. Include various conversion tracking events in your sales funnel
When using most analytics tools, you will need to identify the tracking page or event, so try to identify your conversion goals as early as possible.
3. Use your tracking data
Your marketing team can use your conversion rates to develop strategies and create useful insights for your brand.
Review your data at least once a month to see what's working well and what needs to be improved in your marketing campaign.
What has a good lead conversion rate?
This question sounds complicated to answer because it varies greatly between industries.
As a general guideline, the average landing page conversion rate across the industry is 4.3% .
However, high-performing marketing teams can expect to achieve conversion rates of up to 18%.
Frequently asked questions
Q1: Why is it important to calculate lead conversion rate?
Calculating your lead conversion rate is vital for several reasons:
It helps you understand the effectiveness of your marketing strategies.
It provides a basis for setting realistic goals and benchmarks.
It will help you assess the return on investment in conversions for your marketing campaigns and sales initiatives.
Q2: How can I improve my lead conversion rate?
Several lead conversion strategies can help you increase the total number of leads converted into paying customers.
These include:
Website and landing page optimization for mobile.
Using social proof, such as testimonials and positive reviews.
Using personalized content and offers.
Creating engaging content suitable for your target audience.
Q3 : How do you calculate lead conversion rate?
There are three formulas you can use to calculate your lead conversion rate:
Total number of converted leads / Total number of leads * 100
Total number of converted leads / Total number of unique website visitors * 100
Total number of converted leads / Total number of visits * 100
Q4: What is the difference between lead conversion rate and customer conversion rate?
Lead conversion rate measures the percentage of potential customers (leads) who take the desired action and 99 acres database become actual customers. It primarily focuses on converting leads into customers.
On the other hand, customer conversion rate refers to the percentage of website visitors or potential customers who convert into paying customers. It considers the bigger picture of converting any type of lead, whether a lead or a random website visitor, into a paying customer.
We recommend calculating your lead conversion rate monthly or quarterly so you can track performance trends and make timely adjustments.