Inquiry Conversion Rate refers to the percentage of customer inquiries received in foreign trade that are converted into actual orders. It is a key metric for measuring a foreign trade company's sales capability, customer quality, and follow-up efficiency. Use cases include evaluating salesperson performance, analyzing inquiry quality from different channels (such as trade shows, B2B platforms, and independent websites), and optimizing marketing strategies. Note: The conversion period (e.g., 30 days, 90 days) must be clearly defined to avoid discrepancies caused by different statistical criteria. Also, distinguish between correlation and causation between inquiries and orders, and exclude invalid inquiries (such as spam). Unlike 'click-through rate' and 'open rate,' inquiry conversion rate focuses on the bottom of the sales funnel and directly reflects order-closing ability. Compared with 'customer conversion rate,' it specifically refers to conversion from inquiries as initial leads to orders, rather than all potential customers in general. A high conversion rate usually indicates precise inquiry sources and an efficient follow-up process.
📝 Examples
1. By optimizing the product detail pages on Alibaba.com, we increased our inquiry conversion rate from 5% to 12%. (Note: Used to describe the effect of platform operation optimization.) 2. Salesperson Xiao Zhang's inquiry conversion rate is as high as 20% because he always responds to customers within 24 hours and provides customized solutions. (Note: Used to evaluate individual sales capability.)
💡 Foreign Trade Tips
Foreign trade terms are the foundation of international business communication
Trade practices may vary slightly by country; pay attention when using them
When using terms in contracts, specify the applicable version (e.g., Incoterms 2020)
For unfamiliar terms, use GlobalSync's multilingual email helper to confirm with your partner