"Conversion" is an analytical term used to describe the action of someone in your sales pipeline doing what you intended but it can also be defined as the process of taking someone from one stage of the sales process to another... But it's easier to understand once you see how how it's used...
- If a stranger clicks a link in your Facebook ad, that's a conversion.
- If that stranger visits your landing page and registers for your lead magnet, that's a conversion.
- If that lead downloads your lead magnet and requests a consultation, that's a conversion.
- If that lead comes to your consultation and you get them to say yes to purchasing.
- The transition from a stranger who saw your Facebook ad for the first time to becoming a customer can also be described as a conversion.
...The key factor being that all of these things can be measured, either individually, or in groups over time.
Marketers define these actions as conversions as it relates to them being able to track a lead through a process. If they look at a process as a series of "conversion rates" it becomes easier for them to identify where a percentage of activity stops so they can improve their system to work better - or improve their conversion.
If you have additional questions or would like to learn more about how to improve your conversion, schedule a time with a MyMarketingPass coach through your MyMarketingPass member portal anytime.
Your friend in Marketing,
P.S. You can also learn more about conversion in The Book on Sales and Marketing, available now on Amazon.