Lead conversion rate, explained
Lead conversion rate tells you how many of your leads end up as customers. The formula is the customers won from a set of leads, divided by the number of leads in that set, times 100. If a Lucknow coaching institute received 400 enquiries in April and 36 of them enrolled, its conversion rate for April leads was 36 divided by 400, or 9 percent. Measure against the leads from a period, not the sales in that period, or slow buyers from earlier months distort the number.
Teams often track conversion between stages as well: enquiry to qualified, qualified to meeting, meeting to quote, quote to won. Breaking it down shows where people drop out. A low enquiry-to-qualified rate points at lead quality or targeting; a low quote-to-won rate points at price, competition or follow-up.
The most useful view is conversion by source. A channel that sends many cheap leads that rarely buy can cost more per customer than one that sends fewer, better leads. Before trying to raise the overall number, make sure every lead has a source recorded and every outcome is closed as won or lost. Then work on the stage with the biggest drop, often response time or follow-up, before spending more on ads. DigiPix Flow's reports show new leads, where they came from and how many deals you win.