These leads may have been generated through whatsapp data various marketing channels including email marketing, SMS marketing, influencer marketing, social media advertising, search engine optimization, or paid search engine advertising.
Definition of conversion
Conversion occurs when a lead takes a desired action that moves them closer to becoming a paying customer.
This could be filling out a contact form, requesting a demo, or making a purchase. When a lead turns into a customer, they become a source of revenue for the business.
How to Calculate Lead Conversion Rate
Lead conversion rate is calculated by dividing the number of leads converted into paying customers by the total number of leads generated during a given period.
Here's a step-by-step guide to calculating your lead conversion rate:
1. Determine the period you wish to evaluate
It could be a day, a week, a month, or any other period that is significant to your business.
2. Count the total number of leads generated during the period under consideration
A lead is someone who has shown interest in your product or service by providing contact information, such as their name, email address, or phone number.
Make sure you have a clear and consistent definition of a lead for your business.
3. Count the number of leads converted into paying customers during the same period
A conversion is any desired action that moves a lead closer to a paying customer, such as purchasing a product or signing up for a free trial.
4. Divide the number of leads converted by the total number of leads generated
Then multiply the result by 100 to get the lead conversion rate as a percentage.