It is critical to know the rate of success for your business in converting sales leads to clients and where most of those leads or prospects come from. This indicates how many qualified prospects you need to "touch" in order to create a sale. Working backwards, you can calculate how many touches generate one lead. Measure conversion based on the total count of all leads generated, not just the ones that turn into new business. The conversion rate can also tell you a lot about the most effective lead sources for business.
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