I already mentioned sales funnel metrics with conversion value, but they’re worth a subheading. To discover the truth about your conversion performance, you need to go beyond website conversions.
If you think about it, conversions may include fluff that never turns into business. Hence, it’s important to follow up on conversions over to the sales side. How do the conversions you capture proceed in the sales funnel, and what are they worth?
Collaborate with sales to define your average lead-to-customer rate. That is, at what percentage do leads (conversions) turn into paying customers. The other side of it is expected revenue generated from those customers. For this, you can simply use average deal value.
Remember, though, to account for variation in deal value. For instance, deals that originate from outbound sales could have a higher average value than deals that originate from online marketing activities and website conversions.