Lead Conversion

Definition of Lead Conversion

The process of turning a potential customer (lead) into a paying customer.

Explanation of Lead Conversion

Lead conversion refers to the process of turning potential customers (leads) into actual customers by guiding them through the sales funnel and persuading them to make a purchase. This involves nurturing leads with targeted marketing efforts, providing relevant information, and addressing their needs and concerns. For example, a software company might use email marketing to provide leads with case studies, product demos, and special offers to encourage them to buy. Effective lead conversion requires understanding the customer’s journey, identifying key touchpoints, and using personalized communication to build trust and credibility. Businesses often use tools such as CRM systems to track and manage leads throughout the conversion process. The goal of lead conversion is to maximize the number of leads that become paying customers, ultimately driving revenue growth and business success. By focusing on lead conversion, companies can improve their sales efficiency, enhance customer satisfaction, and achieve better marketing ROI.

This dictionary entry was written by

Per-Gulbrand Peter Braathen

With a foundation in doctoral-level research, Per-Gulbrand Peter Braathen is a seasoned expert in the areas of marketing, branding and communication. His proficiency extends to marketing management, branding and communication strategy. Braathen's experience is underscored by his rich background from various industries, including entertainment. A distinguished alumnus of the USC Marshall School of Business, Braathen boasts a Master of Science in Marketing, complemented by a Graduate Certificate in the Business of Entertainment from the USC School of Cinematic Arts as well as two undergraduate Bachelor degrees from the esteemed University of Southern California.