Measuring conversion rates

There are a few options to measure conversion rate in HockeyStack, pick the one that fits your use case the best! 1. Number Divided by Number:

This straightforward approach to measuring conversion between two goals is to divide the count of one goal by another.

Example: To calculate the conversion rate from Marketing Qualified Leads (MQLs) to Sales Qualified Leads (SQLs):

• Go to: Definitions → Report → New Report

• Select SQL → times done over MQL → times done

• Format the ratio as a percent to view the conversion rate

2. Cohorted Conversion Rate:

The Number Divided by Number Conversion doesn’t take into account that we are only interested in customers who have performed both goals. To tackle this nuance, you will want to use the Cohorted Conversion Rate.

Example: To determine the conversion rate from Book a Demo to Closed Won you only want to count Closed Won for customers who booked a demo beforehand (and not all the Closed Won deals).

• Go to: Definitions → Report → New Report

• Select Closed Won → times done, and filter it to “the user has done” → Book a Demo

• Over: Book a Demo → times done

• Format the ratio as a percent to view the conversion rate

3. Attributed Conversion Rate:

To calculate the conversion between a goal and a touchpoint, you need to use the Attributed Conversion Rate.

Example: To calculate the conversion rate from "Paid Social - LinkedIn Ads" to Marketing Lead

• Go to: Definitions → Report → New Report

• Select the goal of your choice (e.g. Marketing Lead) over Any action → unique users

• In the Attribution Options on the left, select Channel (previously Unified Channel) and filter it to the channel of your choice (here: Paid Social - LinkedIn Ads)

• This way, Any Action → times done is interaction with the Channel you chose

• Apply the "Uniform" attribution model