Measuring Customer Conversion Points As Part of an IMA - dummies

Measuring Customer Conversion Points As Part of an IMA

By Scott Anderson Miller

In addition to grading your website as part of an inbound marketing assessment (IMA), you can assess and analyze consumer conversion points along their path to purchase. There are multiple conversion points in a path; it’s not just the end sale that counts. Each of these steps in the purchase path is a link in a chain.

From a business metrics perspective, one of the most beneficial evaluations you can make is an analysis of your conversion metrics with respect to conversion KPIs. This includes sequential conversion metrics for each step in the customer purchase path (shown here in sequence):

  1. Impressions

  2. Click-thru-rates (CTR)-to-visitors ratio

  3. Visitors-to-leads ratio

  4. Leads-to-marketing-qualified-leads (MQLs) ratio

  5. MQLs-to-sales-qualified-leads (SQLs) ratio

  6. SQLs-to-presentation (demo, trial, sales meeting, and so on) ratio

  7. Presentation-to-customer ratio (close ratio)

  8. Customer-to-reconversion ratio

Certainly, additional customized inputs and conversion metrics (such as shopping-cart abandonment for e-commerce) may be measured depending on your business model. The ratios outlined here are the basics and are therefore the ones that serve most organizations well in evaluating their digital marketing efforts and connecting those efforts to sales and ROI.