Lead conversion rate what to count, mail to deal
A conversion rate is only as good as what you count. Which companies to count, at which step, and the mistakes that make the number look better than it is.
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Count companies, not emails
Lead conversion rate is the share of leads that reach a step you care about. For a small B2B team the useful version is simple: of the companies you contacted in a segment, how many replied, and how many became a paying client.
The number goes wrong when the counting goes wrong. The same company imported twice counts as two leads. A company mailed by two colleagues counts as two contacts. In Riftjaw duplicate companies are flagged when you import, and on every company you see every mail that already went to it, so you count each company once.
We do not give benchmark percentages here: we have no source we trust for your market, and a rate from another industry says little about yours. Compare your own segments with each other instead, over the same period and with the same number of emails.
What to count at each step
Divide each step by the one before it, per segment. Compare segments, not your list with someone else's.
| Step | Status in Riftjaw | What you count |
|---|---|---|
| On the list | New | Companies in the segment, each one once |
| Contacted | Contacted | Companies that got at least one email |
| Replied | Replied | Companies that wrote back, whatever the answer |
| Won | Customer | Companies that became paying clients |
Mistakes that flatter the number
Counting duplicates
Two records for one company double the contacts and halve the rate. Merge or skip the duplicates that are flagged at import.
Counting opens as interest
An open is an estimate; some mail apps load the image by themselves. Count replies, not opens.
Mixing segments
One rate for the whole list hides which group works. Keep a rate per segment, so you know where to send the next batch.
Counting too early
A company contacted yesterday has not had time to reply. Count a segment once its emails and follow-ups have gone out.
Measure it the same way every time
- Pick one segment and one period.
- Count each company once, not each email.
- Use the four statuses as your steps.
- Set Replied and Customer the day it happens.
- Export the segment to CSV if you want to keep the count.
Frequently asked questions
How do you calculate lead conversion rate?
Divide the number of companies that reached a step by the number that were in the step before, for one segment and one period. For example: companies on Customer divided by companies on Contacted.
What is a good lead conversion rate?
We do not give a number, because there is no reliable figure that fits every market. Compare your own segments with each other; the segment that does best is the one to build on.
Should opens count in lead conversion rate?
No. Riftjaw shows opens and clicks per contact, but an open is an estimate. Replies and clients are the steps worth counting.
How do duplicates affect conversion rate?
They make the rate lower than it really is, because one company counts as two leads. Duplicate companies are flagged when you import, so you can merge or skip them first.
Where do I see the history behind the number?
On every company you see every mail that already went to it, with its status and notes. More in measure results per segment.
What is Riftjaw?
Riftjaw is a B2B lead database you own: import the companies you collect, keep every record with its source, sort them into segments and reach them by email in small batches. Each account runs on its own private server with its own database.
One company, counted once
Flag duplicates at import, give every company a status and see per segment how far each one got. See lead records or start free.
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