Are You Tracking Your Conversion Rate?

Learn how to find your conversion rate and how often you should be tracking this KPI about converting prospects into paying clients.

Video Transcription

Sunshine: Are you crushing your sales?

Crystal: Welcome, For the Love of Business. I’m Crystal.

Sunshine: And I’m Sunshine. Let’s get to it.

So, I know this video is about conversion rate. But that means something with sales.

Crystal: Well, it’s definitely not talking about converting to religion today. It’s about converting prospects into paying clients.

Sunshine: Okay. So, you’re not going to turn me into a Catholic today.

Crystal: Not today.

Sunshine: So, tell us how we find this figure within our business?

Crystal: Yes, so this is an important KPI, key performance indicator that you should be tracking in what your conversion rate is. So, let’s say you had 100-prospects and you close 50 of them. What would your conversion rate be?

Sunshine: I’m going to take a shot in the dark here and say 50.

Crystal: 50%. 50%. So, simply put, you take how many you closed and divide it by your total prospects. You move the decimal twice to make it a percentage and that’s how you calculate it.

Sunshine: So, I guess our homework from this video is to find out our conversion rate is?

Crystal: Yes. And track it monthly because most people think that their conversion rate is way higher than what it really is.

Sunshine: What’s your number one takeaway from today’s video? Leave us a comment. And thanks for watching.

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Crystal Shanks

Crystal Shanks, Certified Business Coach and CEO of Run Right Business Consulting, has been coaching business owners and executives around the world to achieve optimum results since 2009. Coach Crystal teaches her clients proven strategies to build thriving businesses and careers. She has worked with thousands of businesses and executives to generate substantial revenues and maximize profits.