How do you ensure that sales reps are ready for each and every buyer interaction?
This blog post was originally published by Rekener, now a Brainshark company.
Lead conversion rate measures the percentage of your leads that end up converting to opportunities. To calculate lead conversion rate, you take the number of leads converted to opportunities in a period, and divide that by the number of leads created in that period.
For example, if you had 100 leads that were created in March, and you had 18 leads converted to opportunities in March, then your lead conversion rate would be 18 / 100 = 18%.
To measure lead conversion rate with Salesforce data, you need to run a report of leads created in the period you want to measure, and then a report of leads converted to opps that have a converted date in the period you want to measure. Then divide the leads converted by the leads created.
To measure lead conversion rate with HubSpot CRM data, you need to run a report of contacts created in the period you want to measure, and then a report of contacts with associated opps that have a first associated date in the period you want to measure. Then divide the contacts with associated opps by the contacts created.
Want to calculate lead conversion rate automatically? Sales scorecards give companies better visibility into how their leads convert into demos, opps and deals. With scorecards, you can automate lead conversion rate calculations, and can break conversion rates down by lead source, campaign, sales rep, or any other dimension.
Sales scorecards automatically calculate conversion rates and break them down by rep. You can even see how many calls are being made into the leads assigned to each rep.
Sales Rep Scorecards can also show you trended information for your lead cohorts. See how your conversion rates are trending over time. You can also ensure that sales reps are consistently following up with leads over time, and how that relates to conversion.
Looking for more sales metrics know-how? Our comprehensive Sales Metrics Glossary will show you how to calculate 30 critical KPIs using CRM data.