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Customer Conversion Rate

Date created: Oct 12, 2022  •   Last updated: Mar 28, 2024

What is Customer Conversion Rate? 

Customer Conversion Rate is the percentage of contacts that convert to won customers

Customer Conversion Rate Formula

ƒ Count(Won Customers
Description: Won Customers is the count of new accounts that are “Closed Won”. It is a measure of success of the Sales, Marketing, and increasingly Product teams. "Closed Won" is the stage at which a prospect has signed or electronically accepted a contract and is now considered a customer. Counter to Won Opportunities, Won Customers only applies to the Account once, whereas you can have multiple Opportunities per Account.
) / Count(Contacts
Description: Contacts are individual people that the business has a relationship with, often associated with an account. In many Customer Relationship Management Systems (CRMs), such as HubSpot and Salesforce, Contacts are associated with qualified opportunities, existing customers, or past customers. Leads are usually not counted as Contacts.
)

How to calculate Customer Conversion Rate

Say you have 2,000 contacts on HubSpot. Over time, 200 of these contacts convert to paying customers. This means that your Customer Conversion Rate is 10%.

Start tracking your Customer Conversion Rate data

Use Klipfolio PowerMetrics, our free analytics tool, to monitor your data. Choose one of the following available services to start tracking your Customer Conversion Rate instantly.

HubSpot
HubSpot
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How to visualize Customer Conversion Rate?

You have a few options when visualizing Customer Conversion Rate. A simple summary chart can help you display your current Customer Conversion Rate in comparison to the past, while a bar chart can help you segment your data (by lead source, for example) and line charts can help you observe trends over time. Here are a few examples of how to visualize your Customer Conversion Rate:

Customer Conversion Rate visualization examples

Customer Conversion Rate

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Bar Chart

Here's an example of how to visualize your Customer Conversion Rate data in a bar chart to observe segmented data.

Customer Conversion Rate

20%

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1.31

vs previous period

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Summary Chart

Here's an example of how to visualize your current Customer Conversion Rate data in comparison to a previous time period or date range.

Customer Conversion Rate

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Pie Chart

Here's an example of how to visualize your Customer Conversion Rate data in a pie chart to identify the most prominent segment.

Customer Conversion Rate

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Line Chart

Here's an example of how to visualize your Customer Conversion Rate data in a line chart over time.
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Customer Conversion Rate

Chart

Measuring Customer Conversion Rate

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More about Customer Conversion Rate

Contacts are collected through marketing campaigns including surveys, subscriptions, and other promotional content that requires users to offer information about themselves. It is helpful to maintain a database of contacts to track how many of them convert into won customers.

Customer Conversion Rate is a measure of how successful your sales effort is in moving contacts down the funnel to paying customers. If this number increases over time, you can assume that your contacts are generally high quality and fit your product, and that your sales strategy is proving to be effective.

Recommended resources related to Customer Conversion Rate

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Metric Toolkit

Start tracking your Customer Conversion Rate data

Use Klipfolio PowerMetrics, our free analytics tool, to monitor your data. Choose one of the following available services to start tracking your Customer Conversion Rate instantly.

HubSpot
HubSpot
Klipfolio dashboard image

Contributor

Contributor ImageContributor Image
Priyaanka AroraResearcher

Metrics related to Customer Conversion Rate

Won CustomersLead Conversion RateContacts

Related Tags

Marketing
Marketing Manager
Digital Marketing Manager
Product Marketing Manager
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