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Close Rate Benchmarks

Industry close rate benchmarks by segment. Compare your performance against average and top performers in your industry.

Your Rate:
Average Close Rate
19.4%
Across filtered results
Top Performer Average
30.5%
Top 20% of teams
Average Sales Cycle
53 days
Opportunity to close
IndustrySegmentAvg Close RateTop PerformersSales CycleNotes
SaaSSMB22%35%25 daysHigh volume, lower touch
SaaSMid-Market18%28%45 daysBalanced approach
SaaSEnterprise15%25%90 daysLong cycle, high value
Professional ServicesSMB28%40%20 daysRelationship-driven
Professional ServicesMid-Market25%35%35 daysProposal-heavy
Professional ServicesEnterprise20%30%60 daysRFP process common
ManufacturingSMB20%32%30 daysTechnical evaluation
ManufacturingMid-Market18%28%60 daysMultiple stakeholders
ManufacturingEnterprise12%22%120 daysLong procurement
Financial ServicesSMB25%38%25 daysCompliance-focused
Financial ServicesMid-Market20%32%45 daysSecurity reviews
Financial ServicesEnterprise15%25%90 daysHeavy regulation
HealthcareSMB18%30%35 daysHIPAA considerations
HealthcareMid-Market15%25%60 daysProcurement boards
HealthcareEnterprise10%18%150 daysLong RFP process
E-commerce / RetailSMB30%45%15 daysQuick decisions
E-commerce / RetailMid-Market25%38%30 daysSeason-dependent
E-commerce / RetailEnterprise18%28%60 daysIT involvement
Marketing / AdvertisingSMB32%48%14 daysFast-moving
Marketing / AdvertisingMid-Market28%42%25 daysCampaign-driven
Marketing / AdvertisingEnterprise20%32%45 daysAgency reviews
Technology (Non-SaaS)SMB20%32%30 daysImplementation focus
Technology (Non-SaaS)Mid-Market17%27%55 daysPOC common
Technology (Non-SaaS)Enterprise12%20%105 daysSecurity-heavy
Real EstateSMB22%35%20 daysRelationship-based
Real EstateMid-Market18%28%40 daysProperty-specific
Real EstateEnterprise12%20%90 daysInvestment cycles
EducationSMB20%32%30 daysAcademic calendar
EducationMid-Market15%25%60 daysCommittee decisions
EducationEnterprise10%18%120 daysBudget cycles
InsuranceSMB25%38%20 daysCompliance-driven
InsuranceMid-Market20%32%40 daysUnderwriting review
InsuranceEnterprise15%25%75 daysRegulatory approval

Data compiled from industry reports, CRM benchmarks, and sales performance studies (2023-2024).

Understanding Close Rate Benchmarks

Close rate benchmarks help you understand how your sales performance compares to industry peers. However, context matters - a 15% close rate in enterprise SaaS might be excellent, while the same rate in SMB retail might be below average.

Factors That Affect Close Rates

  • Deal size: Larger deals typically have lower close rates but higher value.
  • Sales cycle length: Longer cycles often correlate with lower close rates.
  • Lead source: Inbound leads typically convert at 2-3x outbound rates.
  • Number of stakeholders: More decision-makers = lower close rates.
  • Product complexity: Complex solutions have longer evaluation periods.

Close Rate by Lead Source

Inbound Leads

25-35% average close rate. Higher intent, shorter cycle.

Outbound Leads

8-15% average close rate. Requires more nurturing.

Referrals

40-60% average close rate. Highest trust factor.

Partner Leads

20-30% average close rate. Pre-qualified by partner.

How to Improve Your Close Rate

  • Better qualification: Disqualify bad fits early to focus on winnable deals.
  • Multi-threading: Build relationships with 3+ stakeholders per deal.
  • Faster follow-up: Respond to inquiries within 5 minutes when possible.
  • Competitive intelligence: Know how to position against alternatives.
  • Mutual action plans: Align on timeline and milestones early.

Warning Signs of Poor Close Rate

  • Close rate declining over multiple quarters
  • Significant variance between reps (could indicate training gaps)
  • Long sales cycles but low close rates (qualification issue)
  • High close rate but missing quota (not enough pipeline)

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