What is Conversion rate?
Conversion rate: Share of visitors or leads who take the wanted action.
Where Conversion rate fits
Conversion rate is part of Sales Funnel in Sales & Negotiation. A sales funnel moves leads from awareness to purchase. Qualify leads, nurture them, follow up and track conversion at every stage to find leaks.
Practical tip
Fix the stage where prospects drop out before buying more leads.
Related terms
- Sales funnel
- The steps a lead passes through, from first contact to purchase.
- Lead
- A person or company that might become a customer.
- Customer retention
- Keeping existing customers buying from you.
- Sales pipeline
- All potential deals a team is working on, organized by stage.
- Landing page
- A web page built to turn visitors into leads or buyers.
- Lead generation
- Finding and attracting potential customers.
- Qualified lead
- A prospect who is likely to buy and able to pay.
- Follow-up
- Contacting a prospect again after the first meeting.
Formulas you will use with it
Test yourself
Which term means: “Share of visitors or leads who take the wanted action.”?
Qualified lead · Conversion rate · Sales pipeline
Answer: Conversion rate
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