Lead Conversion follows a new lead through your funnel, from first contact to funded deal, over whatever granularity you choose. It's about the stages a lead moves through, not about which channel it arrived on.
When You'd Use This
If you want to know which marketing channel or referral source is producing your business, that's a separate view built for channel attribution. Lead Conversion answers a different question: once a lead reaches you, however it got there, how far does it actually get, and where does it stall?
Choosing a Granularity and a Year
Go to Business, select the Performance view, then the Leads tab. Choose a granularity of Week, Month, or Year. Week and month also show a year picker, limited to years that actually have lead activity; year granularity has no year picker since it spans every year on record.
The Lead Funnel
Four stat tiles across the top total the whole period you selected: New Leads, Started a Deal, Submitted, and Funded, each showing its share of new leads alongside the raw count. The funnel chart below repeats these four stages visually, so you can see the shape of the drop-off at a glance before reading the exact rates.
Stage to Stage Rates
Under the funnel, a row of three rates shows the conversion at each individual step rather than each stage's share of the original leads:
- Lead to Started: of new leads, the share that started a deal.
- Started to Submitted: of leads that started a deal, the share that reached submission.
- Submitted to Funded: of leads that reached submission, the share that funded.
Reading these separately matters, because a healthy Lead to Started rate paired with a weak Started to Submitted rate is a very different problem from a weak rate at the front of the funnel, and each points you toward fixing a different part of your process.
The Breakdown Table
Below the funnel, a table lists every week, month, or year in the selected period as its own row, with New Leads, Started, Submitted, Funded, and a Funded-over-Leads column. Only periods with at least one lead appear. Use this table to spot which specific weeks or months carried your best conversion, rather than judging the whole year by its aggregate rate.
What to Watch Out For
- Switching granularity changes which years are selectable; a year with leads at the monthly level may still be excluded from the picker if you're viewing by week and it has none in that narrower slice.
- The stage-to-stage rates are sequential, each measured against the stage before it, not against total new leads. Only Lead to Started shares that denominator with the stat tiles above.
- A lead that started a deal but hasn't yet submitted or funded still counts in New Leads and Started a Deal; it simply hasn't reached the later stages yet, which is normal for recent periods.
What to Do Next
- See Where Your Business Comes From for the channel and referral-source side of the same leads.
- Work Your Leads to move leads through the stages this page is measuring.
- Read Your Business Performance for how lead conversion sits inside your wider numbers.