topic Re: Create conversion rate (calculated) property in Dashboards & Reporting

Create conversion rate (calculated) property

Lisette1 — Fri, 09 Feb 2024 11:18:36 GMT

Hi there, I want to create a calculated property for conversion rates. I know there are some default reports on conversion rates but these are not meeting our needs.

Example
- Last month, we generated 100 MQLs
- Last month, we generated 25 SQLs
- The conversion rate is (nr of SQLs generated last month / nr of MQLs generated last month *100%) = 25%

I cannot get this working with calculated properties. I can use the fields 'Date entered Marketing Qualified Lead' and 'Date entered Sales Qualified Lead' and put them in an equation. The thing is that these date fields don't contain the actual count of nr MQLs / nr SQLs.

How can I make this happen? This is something we actually already need years and are measuring outside of HubSpot in sheets. Would be so so helpful to get this working. Not sure if calculated properties are the solution or if datasets would be a solution here (if so would need some guidance there as well).

Re: Create conversion rate (calculated) property

karstenkoehler — Fri, 09 Feb 2024 11:22:22 GMT

Hi @Lisette1,

Calculated properties are not the right tool for this - a conversion rate for a single contact can either be 0% or 100%. Properties always look at a single contact.

If you want to see conversion rates between lifecycle stages, the best option is to create a funnel report: https://knowledge.hubspot.com/reports/create-new-custom-funnel-reports

Best regards!

Re: Create conversion rate (calculated) property

Lucila-Andimol — Fri, 09 Feb 2024 12:12:41 GMT

Hey @Lisette1

Date properties can be used in calculated properties but only to give as a result days, not a general number.

So I'd do a funnel reports (you can find it in the templates) and just choose MQLs to SQLs or SQLs to customer.

To create this report go to reports > Create report >Funnels > Choose Contact object

And there you choose the stages to measure

And thats it.

GIve it a try and let us know.

Re: Create conversion rate (calculated) property

Lisette1 — Tue, 13 Feb 2024 08:28:53 GMT

Hi both @karstenkoehler and @Lucila-Andimol, thanks for your replies!

To my knowledge, the funnel reports have some limitations with what I want to see - let me draw an example:

I want to see the conversion rate from MQL -> SQL, per month

In January, we generated 100 MQLS, 60 of them become SQL in January, but 20 of those January MQLs become SQL in February.

With the funnel reports on a monthly basis, I will get MQL:SQL rate of 60% for January. But those 20 SQLs from February will not visible in the funnel reports because the 100 MQLs sit in Jan and those 20 SQLs sit in Feb. So with a funnel report on a monthly basis these 20 fall through the cracks.

Let me know if there is a way to go about this, other than setting this on a wider range (Q or Y) which is not helping us in our monthly reporting.

Re: Create conversion rate (calculated) property

karstenkoehler — Tue, 13 Feb 2024 08:30:48 GMT

@Lisette1 with the legacy funnel reports, the date of entering the first stage will determine what you see. Conversions of a later month will not be excluded unless you specifically specify so: https://knowledge.hubspot.com/reports/create-custom-funnel-reports

Re: Create conversion rate (calculated) property

Lisette1 — Tue, 13 Feb 2024 08:33:05 GMT

Hey @karstenkoehler I will have a look, maybe I haven't seen the update on the funnel reports! Fingers crossed, will let you know if this works. Thanks for your swift reply

Re: Create conversion rate (calculated) property

Lucila-Andimol — Tue, 13 Feb 2024 10:34:33 GMT

Hey @Lisette1

I suggest you take a look on Karsten's comment.

Although I could mention that with our customers usually the criteria is to show the SQL that converted in that month (meaning those 20 SQL you 've mention would be for the february reports) and to which effort can attribute that conversion into SQL.

Hope this helps too