How to Track Conversion Rates and Key Funnel Metrics in Salesforce

If you work in Marketing or Sales Operations, you need to understand the current status and trends of your funnel. Or maybe you’ve been tasked to provide some key performance indicators (KPIs) to management, and need to provide some specific numbers behind the overall performance.

How big is your universe of prospects, what does the lead volume look like, and how are conversion rates between the different stages of your marketing / sales funnel trending?

Getting this data in Salesforce is complicated, requiring the writing of formulas and use of matrix reports to see conversion rates from leads to opportunities, and open to closed won opportunities. Many of us turn to Microsoft Excel, where the math is easier to manage, but getting the data there requires a lot of manual work.

And all of that is assuming you can get ahold of all the data you need to analyze it in Salesforce or spreadsheets. In this blog post I’ll show you an easier way of visualizing your funnel and conversion metrics in Salesforce, with a new feature of the CloudAmp Analytics Dashboards.

Since its release in 2012, the CloudAmp Analytics Dashboards app has helped businesses automatically import top-of-the-funnel data from Google Analytics into Salesforce. In less than 10 minutes, this affordable self-service app can be installed, connected to Google Analytics with the click of a button, and be displaying users, pageviews, goal completion and other web site metrics in a series of prebuilt Salesforce dashboards and reports.

Google Analytics can show you the top of your funnel (web site visitors / app users), which is data that is typically missing from Salesforce. The Salesforce data model starts with leads, either from your web site web-to-lead forms or imported from other sources. It then proceeds as you convert qualified leads (however you define that internally) to Accounts with Contacts and Opportunities.

FunnelDetailSmalll

So you have Leads, Converted Leads (Contacts/Opportunities), and Won Opportunities ($), plus now you can add Users (Web Site Visitors / App Users) to the beginning of that funnel. And with the prebuilt Funnel tab in the CloudAmp Analytics Dashboards app, the conversion percentages between each stage are automatically calculated for you — web site visitors to leads conversion rate, leads to converted leads percentage, opportunities to closed won opportunities conversion rate.

In addition, buttons below the funnel allow you to switch between 30, 60, and 90 day time periods, to see how things are trending at a glance. And an easy configuration panel on the right allows you to switch the source reports that drive the funnel, or edit them to apply a filter. That can be helpful if you want to only show leads from a particular web site in the funnel, or remove leads imported from a recent tradeshow from the funnel conversion percentages.

So try it out and let us know what you think, and feel free to ask questions below.

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