Chapter 4
Conversion rate
- Why: To better understand customer acquisition
- What: To measure how well you are converting prospects into actual customers
- When: When customer acquisition is a key priority
- The question this indicator helps you to answer: to what extent are we able to convert potential customers into actual customers?
Why does this KPI matter?
The conversion rate basically looks at the success rate of turning leads or potential customers into actual customers. For example, once you have attracted visitors or potential customers (be this into your physical shop or to your website), your next challenge is to convert the visitors (or potential customers) into actual customers.
What constitutes a conversion can depend a little on your ...
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