How to use our lead conversion rate calculator
Want to calculate the lead conversion rate of your business? Our conversion rate calculator requires a few critical pieces of data to determine your sales conversion rate over a certain period.
To use this lead conversion rate calculator, follow these two steps:
- Step #1 - First, compile all of your data for a specific period (usually a month). In the first text box, enter the total number of leads that your business has generated.
- Step #2 - Determine how many leads were converted into sales for that same period and enter this data into the second field.
Click the green button, and within a few seconds, our calculator will provide you with your business's lead conversion percentage.
Once you are done, download your information locally or get a shareable link.
Benefits of using our free conversion rate calculator
There are many benefits to using Textmagic's free website conversion rate calculator, such as:
- The ability to track the success of a new marketing campaign - Our sales conversion rate calculator can accurately show how well a new marketing campaign has worked by detailing what percentage of customer leads have been turned into sales.
- The ability to set realistic business goals - By seeing the average number of leads that are turned into sales within a specific period, you will be better able to determine what methods your business should implement to improve customer conversion.
- The ability to predict future growth - By using our conversion rate formula, you will gain better insight into how quickly your business is growing and will be better able to predict future growth rates.
Why we created this tool
We created this lead calculator to help you quickly determine the percentage of conversions without having to set up complicated filters and goals in your Google Analytics or measurement tools.
Frequently asked questions
What does conversion rate mean, and how do you calculate it?
Conversion rate is the number of new leads within a given period that converted into actual customers, meaning that they have made a purchase.
Many lead conversion rate calculators that are available online strictly measure LCR according to the number of people who visit your website. This is incorrect. Leads are qualified people that are already in your business's sales funnel.
To calculate LCR, you must take the number of converted leads and divide this by the total number of leads during that same period. The results will give you the conversion rate figure.
Why is the LCR important?
High LCR is a reflection of a company's marketing success. When your conversion rate is low, it means that you are losing leads at different stages of their journey.
This can happen due to poorly targeted marketing campaigns, a bad website experience, poor sales funnel, lack of active promoters, and bad links or CTAs directing customers to your website from newsletters or emails.
How can I improve my LCR?
There are many strategies for improving lead conversion rate. Creating a more targeted marketing campaign, assigning unique landing pages to different PPC campaigns in Google Ads, personalizing your customer communications, developing better and more frequent calls to action are all ways to increase conversions.
Use our tool to calculate LCR regularly and to gauge the success of your business efforts.