Marketing Conversion Benchmarks

A discussion about typical conversion rates in marketing and sales, highlighting how even seemingly low conversion rates (1-3%) can be considered successful across different industries.

Key Conversion Rate Insights

• 1-3% conversion rate is considered normal and successful across many industries
• Success often comes after many attempts
  • Example: Getting 1 conversion after 30 attempts = 3% conversion rate
  • Example: Getting 1 conversion after 99 attempts = 1% conversion rate

Real World Examples

• Mormon Missionary Conversion Rates

  • Knocked on hundreds of doors daily for 2 years
  • Converted 32 people out of approximately 109,000 door knocks
  • Represents a fraction of a percent conversion rate (~0.02%)
  • Shows how even extremely low conversion rates can be considered successful

• Sales Comparisons

  • Salesforce: ~2% conversion rate considered good
  • Religion conversion: Has one of the lowest conversion rates
  • Makes selling traditional products/services feel easier in comparison

Business Application

• Cold Email Success
  • Example given of new business getting initial customers
  • 0% of revenue came through website
  • All revenue generated through cold LinkedIn emails and phone calls
  • Shows importance of direct outreach despite low conversion rates

Key Takeaway

• Don't get discouraged by rejection
  • High number of "no's" is normal and expected
  • Success often comes from volume and persistence
  • Need to focus on the process rather than individual rejections