Conversion rate
Conversion rate is the share of visitors in a period who became paying customers in that period. Split by channel it tells you which traffic is worth more than its volume suggests: a small channel that converts at three times the average can matter more than a large one.
Formula
conversion rate = new customers / visitors × 100Divide the number of visitors who made their first payment in the period by the number of visitors in the period, then multiply by 100.
Worked example
| Visitors in May | 12,000 |
|---|---|
| New customers in May | 54 |
- 54 / 12,000 × 100 = 0.45%
Conversion rate for May is 0.45%.
How ProductLense shows it
ProductLense shows conversion rate on the Overview tile row and per channel, source, campaign and entry page in the breakdown tables. Goals and funnels give conversion between any steps you define, such as landing page to signup to payment.
ProductLense needs the script for visitors, a billing connection or the payment API for customers, and identify calls so customers resolve to the visitors who became them.
Conversion rate: questions
- What is conversion rate?
- Conversion rate is the share of visitors in a period who became paying customers in that period. Split by channel it tells you which traffic is worth more than its volume suggests: a small channel that converts at three times the average can matter more than a large one.
- How do you calculate conversion rate?
- Divide the number of visitors who made their first payment in the period by the number of visitors in the period, then multiply by 100. For example, 54 new customers from 12,000 visitors is a conversion rate of 0.45%.
- Where does ProductLense show conversion rate?
- ProductLense shows conversion rate on the Overview tile row and per channel, source, campaign and entry page in the breakdown tables. Goals and funnels give conversion between any steps you define, such as landing page to signup to payment.
- What does ProductLense need to calculate conversion rate?
- ProductLense needs the script for visitors, a billing connection or the payment API for customers, and identify calls so customers resolve to the visitors who became them.
- How is conversion rate different from bounce rate?
- Conversion rate is about outcomes, bounce rate about engagement on arrival. Improving bounce rate helps only if more of the visitors who stay go on to pay; ProductLense shows both per channel so you can see whether they move together.
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