How many "leads" does your marketing and advertising generate for your business each week?
A lead can be a phone call, website visit or a walk in customer. A lead can also be an opportunity to quote on a job.
How many of these leads are converted into sales?
It could take more than one visit or call to convert a lead to a sale.
Calculate your conversion ratio by dividing the total sales by the total leads
What is your average transaction value?
This is your total sales divided by the number of transactions.