Also called a Conversion Ratio, it is a statistic that shows how many of the leads for a business are turning into sales. Conversion Rate is a measure that shows how efficiently a company’s marketing and sales areas are working together. It is generally shown as a percentage, and is calculated this way:
(Number of Sales) / (Number of Leads) X 100 = Conversion Rate Percentage
EXAMPLE: After improving our customer communication, we were able to increase our conversion rate percentage from 10% to 25%.
