What is this, you may well be asking yourself? What is a lead to conversion rate? Why is this important to my business?
Clearly put it is the percentage of visitors who come to your website and are captured as leads. This is one of the most important top-of-the-funnel conversion metrics.
Lead to Conversion Rate is also known as Sales Conversion and this metric is critical to evaluating the performance of a company’s sales funnel. It is an indicator of your ability to attract the right target audience and the efficiency at which your website then turns them into leads.
The formula to calculate lead to conversion rate is:
Lead Conversion Rate = Total No. of New Customers / Number of Leads * 100
So, if you had 100 leads, and 20 of them became new customers, your lead conversion rate is 20%.
This Conversion Rate is a Key Performance Indicator (KPI) that can be used to measure success.
A conversion is defined as either a sale or submission of information, which a tracking pixel can track.
What is a good Conversion Rate?
The global average web page conversion rate is 2.35%, but this really depends on the industry you are in. The top 25% are converting at 5.31% or higher. Ideally, you want to break into the top 10% — these are the landing pages with conversion rates of 11.45% or higher.
Website to Lead Conversion Rate is also critical to understanding paid advertising spend and determining ROI (Return on Investment). Similarly, you may be using re-marketing campaigns to increase your Lead Conversion Rate and need to keep an eye on spend vs value.
Based on these findings, how is your business performing? No matter where you fall in that range, there’s always something that can be tweaked. What can you do to improve your batting average? Pulse Media reports on the KPI’s that matter to your business and we help get you conversions by testing and optimizing your PPC campaigns.