Lead Conversion Rate
Lower is better
How is Lead Conversion Rate calculated?
To calculate lead conversion rate, take the total number of leads generated from your website within a given period of time and divide that by the total number of website visitors during the same time period. Multiply the result by 100 to get the percentage for your lead conversion rate.
What is Lead Conversion Rate?
Every website is different, and so are the expectations of its users. That’s why it’s important to know how many visitors you need to convert to see results. If you have a lead conversion rate of 0.5%, your website will need 50 visitors for 1 new lead, 1000 visitors for 10 leads, and 10000 visitors for 100 leads. If your website has a low conversion rate (less than 5%), then either something is wrong with your marketing, or there may be something wrong with the functionality of your site.
How to increase your lead conversion rate:
Buyer personas can also help you convert visitors into leads. Find clues about this audience by examining what is important to them and how they want their needs met to better serve those who come to your site. Utilize buyer personas when running usability tests and consider which persona aligns with the type of customer visiting the pages of your website from various sources (social media, forums, etc.) or use an analysis of customer service issues received from customers as a means to help identify which persona best matches that population.
Optimizations made to your lead conversion rate will also increase the health of your sales pipeline, leading to a higher close rate.
What tools can I use to increase my lead conversion rate?
A form is an essential lead generation tool for collecting visitor contact information. It's a fast way to get the contact information of a visitor to follow up with. HubSpot provides forms tools that integrate seamlessly with their CRM, allowing a seamless handoff between your marketing and sales teams.
Personalization has an incredible impact on the conversion rate of your website visitors. Tools like Clearbit's Reveal product allow you to de-anonymize website traffic so that you can serve more relevant content to your visitors.
Lead capture tools on your website such as forms, landing pages, e-books, and other engaging content can help you turn more visitors into leads without relying primarily on email or social media channels.
Why is Lead Conversion Rate important?
A high lead conversion rate speaks volumes about your product-market-fit and how well you are optimizing for the right audience. A high conversion rate also creates a positive feedback loop by attracting more qualified prospects to visit your site in the future because they see that there are other people like them with certain needs or interests who have successfully found what they were looking for on your website.
Start tracking your Lead Conversion Rate
Create a KPI for Lead Conversion Rate to monitor it over time and an OKR to track your impact against it in Commonality.
Average Lead Score
Grow your sales pipeline by ensuring that you're genrating higher quality sales leads over time.
Average Page Views Per Session
Ensure that you're creating engaging content that drives organic traffic and SEO growth over time.
Monitor how compelling your website is by measuring the percentage of visitors who navigate away from the site after viewing only one page.