topic Re: Calculated Fields for Conversion Rate in Reporting & Analytics

Calculated Fields for Conversion Rate

EChen1 — Thu, 17 Oct 2024 18:41:40 GMT

Hello guys,

Is there a way to calculate the custom property below in HubSpot?

Conversion Rate: SUM([DEAL.hs_closed_won_count])/COUNT([CONTACT.lead])

*DEAL.hs_closed_won_count: equals to 1 when there is a closed won deal.

My team is currently using the Operations and Marketing Hub package. I tried to use the calculated fields feature within the custom reporting tool but it looked like that was only available for Operations Hub Enterprise.

Thank you!!!!

Re: Calculated Fields for Conversion Rate

kennedyp — Thu, 17 Oct 2024 23:34:41 GMT

Hi @EChen1! Welcome to the Community-- happy to have you here 😊

I want to invite some subject matter experts to see if they have any suggestions.

Hey @HubSpot_Corey, @Shadab_Khan, @franksteiner79 do you have any thoughts on this?

Thanks in advance!

Kennedy

Re: Calculated Fields for Conversion Rate

Shadab_Khan — Fri, 18 Oct 2024 00:44:30 GMT

Hi @kennedyp thanks for the tag!

Hi @EChen1 ,

How I’ve approached this in the past (but I had ops hub enterprise) you can try this with calculation properties directly:

Helper Properties:
- First thing, you’ll need a couple of helper properties to get this rolling.
- Property 1: A custom property that just counts whenever a deal is created. You don’t need a calculation property for this—just have it mark "1" when a deal is created.
- Property 2: Another custom property for when a deal is marked as Closed Won. If the date entered "Closed Won" is set, it’ll mark "1", otherwise, "0". This helps you know when a deal hits that stage.
Final Calculation:
- Now that you have the properties for deals created and closed won, you can set up a third property to do the math:
  - Divide the number of closed won deals (property 2) by the number of created deals (property 1), and boom, you’ve got your conversion rate.
Cross-Object Conversion:
- Now, if you’re looking to calculate conversion rates across different objects (like contacts to deals), it’s gonna be tricky without OpsHub Enterprise.
- I know HubSpot has started rolling out datasets to OpsHub Pro, so definitely check if that’s available for your instance—haven’t had time to mess around with that too much yet, but it could be useful.
Alternative Approach:
- If you don’t want to mess around with datasets, you could use the Contact Conversion Reports that come out of the box in HubSpot. These track lifecycle stage conversions (like Lead to MQL, MQL to SQL, etc.) and could give you an idea of conversion rate without needing all the heavy lifting of custom properties.

So yeah, there are a few ways to do this depending on what you’ve got access to. Hope this helps—let me know if you’ve got any questions!

Re: Calculated Fields for Conversion Rate

EChen1 — Tue, 22 Oct 2024 21:50:03 GMT

Thank you! I will try the solution out!