Template: how to track your conversions (service based)
You can’t realistically expect to convert every single lead into a paying customer, so you need to have a well-functioning process to know where to shift your focus.
Tracking your conversion rate is extremely important to help you to understand how you’re turning leads into paying clients. Why do you need to know this?
You can’t realistically expect to convert every single lead into a paying customer, so you need to have a well-functioning process to know where to shift your focus. Once you know that, it will minimize the risk of missed opportunities and will also speed up your sales cycle. (how to track your conversions)
By tracking your conversion rate you will understand:
- How many queries do you need to deal with to generate potential customers (leads)?
- How many proposals/quotes get accepted each month?
- What percentage of your leads end up purchasing your services?
- Which month is your best-performing one? (especially important to pick up seasonal trends and to plan your marketing efforts better)
- How much time do you need to allocate to deal with queries to land a paying client?
This template will automatically calculate your conversions for:
- Qualified Lead Conversion Rate
- Lead to Hot Lead Conversion Rate
- Query to Client Conversion Rate
- Qualified Lead to Client Conversion Rate
This template includes MONTHLY and ANNUAL tracking.
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