How To Calculate Lead-to-Customer Conversion Rate in Excel or Sheets
Introduction
Are you wondering how many of your leads are actually converting into customers? If so, then you need to know your lead-to-customer conversion rate. This essential metric tells you how effective your marketing and sales efforts are at turning prospects into paying customers. In this blog post, we'll show you how to easily calculate your lead-to-customer conversion rate in Excel or Sheets.
Why It's Important
Your lead-to-customer conversion rate is a key performance indicator (KPI) that can help you track the progress of your sales and marketing funnel. By understanding your conversion rate, you can identify areas for improvement and make changes to your marketing and sales strategies to boost your ROI.
How to Calculate Your Lead-to-Customer Conversion Rate
There are a few different ways to calculate your lead-to-customer conversion rate, but the most common method is to use the following formula:
Lead-to-customer conversion rate = (Number of converted leads / Total number of leads) x 100%
For example, if you had 100 leads last month and 10 of them converted into customers, your lead-to-customer conversion rate would be 10%.
How to Calculate Your Lead-to-Customer Conversion Rate in Excel or Sheets
Here's a step-by-step guide to calculating your lead-to-customer conversion rate in Excel or Sheets:
- Gather your data. You'll need two pieces of data: the total number of leads you generated and the number of leads that converted into customers.
- Enter your data into a spreadsheet. Create two columns in your spreadsheet: one for the number of leads and one for the number of converted leads.
- Use the formula. In the third column, enter the following formula:
=([Converted Leads]/[Total Leads])*100%.
- Format your results. Change the number format of the third column to a percentage.
Summary
Calculating your lead-to-customer conversion rate is a simple but essential step to take to improve your marketing and sales results. By tracking your conversion rate, you can identify areas for improvement and make changes to your strategies to increase your ROI.
