The formula to calculate the Close Rate (CR) is:
\[ CR = \left( \frac{C}{I} \right) \times 100 \]
Where:
The close rate, also known as the conversion rate, is a metric used to determine the percentage of impressions or leads that result in a closed sale or completed action. This rate is crucial in sales and marketing to measure the effectiveness of campaigns and strategies. A higher close rate indicates a more successful conversion process.
Let's assume the following values:
Using the formula to calculate the Close Rate:
\[ CR = \left( \frac{50}{1000} \right) \times 100 = 5\% \]
The Close Rate (CR) is 5%.
