December 2017
Intermediate to advanced
390 pages
7h 51m
English
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Chapter 54 Conversion Rate
Measurement Need
To measure how many of the customers who responded to an ad or promotional offer convert to purchasing customers.
Solutioni
The conversion rate is the percentage of prospective customers or visitors (to a website) who both respond and buy a company’s products and services.
Where
Cr = conversion rate
Pb = number of people who both respond and buy
Pr = number of people who respond to your ad
Measure 53 described the response rate and cautioned that customers who respond to a direct marketing campaign are not necessarily buyers yet. Continuing with Metric 53’s example, if 75 of the 200 responses actually buy the product, then the conversion rate is 37.5%:
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