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This blog post was originally published by Rekener, now a Brainshark company.
Lead conversion cycle measures the average amount of time between when a lead is created, and when it is converted to an opportunity.
To calculate lead conversion cycle, you take the total amount of days between creation and conversion for all leads that were converted, and then divide by the total number of leads converted.
For example, if you had 100 leads that got converted in September, and the total sum of days between when each was created and each was converted was 1,500 days, then your lead conversion cycle would be 1500 / 100 = 15 days.
To measure lead conversion cycle with Salesforce data, first count the number of leads that have were converted in the period you’re measuring. Then, for each of those leads, calculate the number of days between lead created date, and conversion date. Then divide the total number of days by the total number of leads converted.
To measure lead conversion cycle with HubSpot data, first count the number of contacts that have were have an associated deal in the period you’re measuring. Then, for each of those contacts, calculate the number of days between lead created date, and first deal associated date. Then divide the total number of days by the total number of contacts converted.
Rekener calculates lead conversion cycle automatically, and can measure it by sales rep, by account, or any other breakdown. Check out our sales scorecard solution to see how you can calculate lead conversion cycle by sales rep automatically.
Looking for more sales metrics know-how? Our comprehensive Sales Metrics Glossary will show you how to calculate 30 critical KPIs using CRM data.