Reporting & Analytics

prideandjoy
Member

Calculating MQL to deal/customer conversion rates

SOLVE

I'm looking for advice on how best to calculate MQL to deal and MQL to customer conversion rates. I've been using the funnel report for this, but the CVR varies wildly based on the timeframe selected. Is it best to choose a time window that matches the average sales cycle length?

Also, is this really an accurate view that can be relied on?

 

 

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1 Accepted solution
Josh
Solution
Recognized Expert | Platinum Partner
Recognized Expert | Platinum Partner

Calculating MQL to deal/customer conversion rates

SOLVE

Hi @prideandjoy,

 

This is a great question!

 

A funnel report would be the best way to do this. I would limit the report to look specifically at MQL>Opportunity and MQL>Customer, provided you are using the standard HubSpot lifecycle stages. These would be 2 separate reports, most likely. 

 

As far as the timeframe, that is a tough question. As you stated, a report that only looks at a Quarter or Month which may be shorter than your average close rate would likely not tell the whole story, but this is also someone dependent on the numbers that we're looking at. If you have a high volume of MQLS, Deals, and New Customers, you should garner enough data to look at shorter timeframes. If you are lower volume deals, you will want to expand timeframes to get an accurate view on conversion rates.

 

To answer your last question...it will be accurate if you take into considerations the time frames and volumes. Also, everyone in the organization must be using the CRM for everything and they should be using it in the same fashion, or this will lead to inaccurate reports.

 

I hope that helps!

 

Josh

 

Thanks for the ping @TiphaineCuisset  




Did this post help solve your problem? If so, please mark it as a solution.

Josh Curcio

HubSpot support and inbound marketing for OEMs, contract manufacturers, and industrial suppliers.
HubSpot Platinum Partner & HubSpot Certified Trainer

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prideandjoy
Member

Calculating MQL to deal/customer conversion rates

SOLVE

Thanks so much, @Josh 

I appreciate the response!

0 Upvotes
Josh
Solution
Recognized Expert | Platinum Partner
Recognized Expert | Platinum Partner

Calculating MQL to deal/customer conversion rates

SOLVE

Hi @prideandjoy,

 

This is a great question!

 

A funnel report would be the best way to do this. I would limit the report to look specifically at MQL>Opportunity and MQL>Customer, provided you are using the standard HubSpot lifecycle stages. These would be 2 separate reports, most likely. 

 

As far as the timeframe, that is a tough question. As you stated, a report that only looks at a Quarter or Month which may be shorter than your average close rate would likely not tell the whole story, but this is also someone dependent on the numbers that we're looking at. If you have a high volume of MQLS, Deals, and New Customers, you should garner enough data to look at shorter timeframes. If you are lower volume deals, you will want to expand timeframes to get an accurate view on conversion rates.

 

To answer your last question...it will be accurate if you take into considerations the time frames and volumes. Also, everyone in the organization must be using the CRM for everything and they should be using it in the same fashion, or this will lead to inaccurate reports.

 

I hope that helps!

 

Josh

 

Thanks for the ping @TiphaineCuisset  




Did this post help solve your problem? If so, please mark it as a solution.

Josh Curcio

HubSpot support and inbound marketing for OEMs, contract manufacturers, and industrial suppliers.
HubSpot Platinum Partner & HubSpot Certified Trainer

TiphaineCuisset
Community Manager
Community Manager

Calculating MQL to deal/customer conversion rates

SOLVE

Hi @prideandjoy 

 

Thank you for reaching out

 

I want to tag some of our experts on this - @NicoleSengers @Josh @Dan1 do you have any thoughts to share with @prideandjoy on this? 

 

Thank you

Best

Tiphaine


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