The conversion rate is an indicator that reveals the percentage of your audience that progressed through the sales funnel and became real customers of your brand. In other words, how many people stopped being simply interested in your offers and became buyers of your products/services.
Knowing this number is essential to understanding whether your marketing and sales strategies are working or not. If they are not, you have the chance to improve them.
This metric also prevents you and your team from wasting time and money on people who are not truly interested in your company’s solutions. This means you can focus on those who have the potential to become customers.
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Then, continue reading this article and learn everything about the conversion rate, including what it is, how to calculate it, what the ideal percentage is, how to improve the results of this index, and much more!
What is conversion rate?
Conversion rate is the metric that measures how many people moved from one stage of the sales funnel to another, whether they were visitors who became leads or leads who became customers. It is the indicator that shows what percentage of the audience converted and, in fact, brought results to your company.
Therefore, it is essential to explain that this indicator is not just a sales metric , but rather an important number to be analyzed to understand how Female number data many opportunities throughout the funnel turned into closed deals. That is, how many visitors become customers.
How to calculate the conversion rate?
To calculate the conversion rate, simply divide the number of conversions by the number of total visits or contacts.
To better understand, let’s assume that in one month your company’s website received 5,000 visits and had 1,500 form submissions from visitors. Therefore, your conversion rate was 30%.
Also remember that the data analyzed must be from the same period for the result to be real.
What is the ideal conversion rate?
To find the ideal conversion rate for your Albania Phone Number List company, you will need to understand what the objectives of your business strategy are, as there is no magic number that works for everyone.
Furthermore, it is also important to know what the conversion rate is by segment , to have more clarity about how your company is in relation to competitors in your niche.
For example, you may find that your visitor-to-lead conversion rate is 40%, but your lead-to-customer conversion rate is 5%. This means that 95% of your leads are not converting, which could be a point of concern.
On the one hand, lead generation efforts are being successful. However, these people are not interested in actually closing a deal.
In this case, it is necessary to reflect on points such as:
Why is this happening?
Are they not yet mature enough to reach the bottom of the funnel?
Is it necessary to nourish them with rich materials?
Is the sales team’s approach not convincing?
Over time, you will be able to establish a pattern for your business.
