Conversion Rate

Also called: Close Rate (when referring to sales calls)

Definition

Conversion rate is the percentage of people who take a desired action out of the total number who had the opportunity. In coaching, you track conversion at multiple stages: website visitor to email subscriber, email subscriber to discovery call booked, discovery call to paying client. If 100 people visit your website and 5 join your email list, your website conversion rate is 5%. If you conduct 10 discovery calls and 3 become clients, your close rate is 30%.

Why it matters for coaches

Conversion rate tells you exactly where your client acquisition process is working and where it is leaking. A coach getting plenty of website traffic but no email subscribers has a lead magnet or website problem. A coach booking lots of calls but closing very few has a sales conversation problem. Without tracking conversion rates, you can’t tell the difference between a visibility issue and a trust issue. Even small improvements in conversion compound dramatically. Going from a 20% to 30% close rate on discovery calls means 50% more clients from the same number of calls.

Example

Generic: “I need more clients.”

Conversion rate-defined: “I get 500 website visitors per month, 25 email subscribers (5% conversion), 6 discovery calls (24% of subscribers), and 2 new clients (33% close rate). My bottleneck is email-to-call conversion. If I improved that from 24% to 35%, I’d get 9 calls and likely 3 clients per month instead of 2.”

Related

• How do I improve my discovery call close rate?
• What is a Coaching Funnel?
• What is Client Acquisition Cost (CAC)?
• The Client Acquisition Ladder Framework

---