Measuring Lead-to- Customer Converesion (L2C)

Lead-to-Customer Conversion (L2C)

Ultimate Funnel Metric

L2C is a very important metric for all businesses. It answers the question, “how many leads convert into paying customers?” This has massive implications for the size and efficacy of your funnel. L2C is typically calculated as the number of customer converted leads over the number of marketing qualified leads (MQL). What is a good proportion you should be shooting for?

What is a ‘good’ L2C Rate?

Every industry has a different standard of L2C rates, so here is a list of reference points. Every industry is different, so take these as a guide and not a rule. Remember that nothing beats doing better than what you did in the prior quarter or fiscal year!

Common Pitfalls

Poorly Defined MQL

If there isn’t buy-in throughout the revenue funnel (marketing, sales, revgen, customer success), this is usually the first suspect of poor L2C performance. We’re letting too many leads in! This might be the case if assumptions about buyer behavior just isn’t true anymore such as:

• Why are people buying your product?
• Have the timing of their purchase changed?
• Is there a new entrant into your market that is out-competing you?
• Why?

However, poorly defined MQL’s are a driver of poor L2C if there is not sufficienct definition or understanding in what signals customer intent.

Conflating Last Mile with Top of Funnel

Last mile efforts to close affect many metrics, including L2C. In a way, if sales doesn’t close then it doesn’t matter how many MQL’s are thrown their way. Prioritizing closing a great way to ensure the L2C isn’t understated due to poor sales performance. Other conversion metrics like the ones below can clarify this:

• Stage Convsion Rates
• Demo to Close Converstion
• MQL days to close

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We’ve packaged our decades of data analtyics experience within an application that puts them in the driver seat of their marketing strategy. Instead of waiting for days on traditional business intelligence solutions, we accelerate innovation by providing answers in seconds. Faster results means reduced costs and real-time analysis for your dynamic marketplace.

Deciphyr AI > Other Analysis Tools

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What are you waiting for?

Deciphyr AI can help you raise your L2C, save you time, and lower your costs. It’s that simple.