In this report, we share our data on lead-to-opportunity conversion rates from both our internal sales data and clients we’ve worked with from 2019 through 2024. For our internal data, we defined a lead to be any contact form fill or direct contact that indicated an interest in our services. For client data, leads were defined in collaboration with each respective client and often included free trial signups and demo downloads. We defined opportunities as those leads who had fully passed through the lead, MQL, and SQL stages, having:
- Met with the sales team
- Discussed specific services and pricing, and
- Received a personalized proposal or requested a contract
For clients with an eCommerce element to their business, we also considered any completed purchase to be a fully closed opportunity.
The results of our study are found in the table below. We also provide commentary on each industry based on our direct experience working with businesses in each.
Lead to Opportunity Conversion Rate By Industry
| Industry | Lead-to-Opportunity Conversion Rate Benchmark | Notes |
| Addiction Treatment | 4.0% | Addiction treatment conversion rates vary greatly by location due to differences in insurance coverage. Urgency drives increased conversion rates from all sources. |
| Aerospace & Aviation | 2.8% | With a limited pool of potential clients, aviation & aerospace have low lead-to-opportunity conversion rates due to specialized buyers and long sales cycles. |
| Automotive | 4.1% | Rates vary significantly between B2B fleet sales and services and B2C sales. Online leads convert at a significantly lower rate than in-person inquiries. |
| B2B SaaS | 6.2% | Free trials and other chances for potential clients to test and become reliant on software platforms dramatically increase lead to opportunity conversion rates in SaaS. |
| Biotech | 6.9% | Biotech conversion rates tend to be high because regulatory hurdles decrease the number of options available to leads. The complex nature of the industry also limits top-of-funnel inquiries to relatively sophisticated leads. |
| Business Insurance | 5.7% | Regulatory requirements work to ensure a robust potential client pool for insurance companies. Most leads do not fully understand the differences between options, however, and require nurturing to increase LTV. |
| Construction | 3.1% | Conversion rates are higher for commercial construction projects with pre-qualified leads; lower for residential projects from cold outreach. |
| Cybersecurity | 4.1% | Although the number of cyberattacks continues to rise, many companies deemphasize this service. Overcoming this hurdle through quality content can significantly improve conversion rates. |
| Engineering | 4.7% | Engineering conversion requires demonstrating expertise and product performance history to move leads through the funnel. Services are often project-based and highly technical, often requiring multiple stakeholders’ approval. |
| Environmental Services | 5.0% | Companies and organizations in this broad field must navigate and balance regulatory compliance, sustainability, and budget constraints. Enterprise solutions tend to have lower conversion rates due to long sales cycles and compliance concerns. |
| Financial Services | 5.4% | Financial services conversion rates are higher for regulated industries needing compliance-based services, as these requirements limit the number of options that leads have to choose from. |
| Fintech | 4.7% | Integration with existing systems is often necessary for conversion. B2B sales cycles are long due to caution around changing critical infrastructure. |
| Healthcare | 4.7% | Healthcare sales and procurement cycles are typically long and require significant nurturing. B2C healthcare conversion rates are high, however, due to urgency. |
| Heavy Equipment | 8.1% | Heavy equipment leads tend to lean on existing providers due to the high capital investment required. Service level is an important impetus for conversion. |
| Hotels & Resorts | 5.7% | Brand awareness is critical in this industry for high conversion. Coupled with competitive pricing, highly branded content works unusually well. |
| HVAC | 11.8% | Reputation plays a major role in getting leads to opportunity. Leads move quickly through the sales funnel as their needs are often pressing. |
| Industrial IOT | 3.9% | Conversion rates are relatively low in industrial IOT because of the complexity of integrating with existing systems with minimal disruption to operations. |
| IT & Managed Services | 3.0% | The high number of IT providers lowers lead to opportunity conversion rates. Establishing trust with decision makers requires carefully crated content. |
| Legal Services | 5.4% | Conversion rates are high for urgent legal leads, but low otherwise. Reputation, along with trusted referral, is a significant driver to get leads to the finish line. |
| Manufacturing | 4.9% | Manufacturing processes and products can significantly influence rates. Concerns such as supply chain stability must be alleviated to convert. |
| Oil & Gas | 5.1% | SEO-based leads are on the rise in this industry. Content that supplements the traditional referral sales model will be most successful. |
| Pharmaceutical | 11.7% | While regulatory approvals and R&D cycles are long, patent monopolies lead to high conversion rates. |
| Real Estate | 3.6% | Real estate experiences a lot of ebb and flow, often due to uncontrollable economic factors. Timely, comprehensive information and competitive pricing are keys to higher rates. |
| Software Development | 6.6% | Competition is often fierce in this industry. However, the pool of potential leads is large and growing. Conversion often depends on the ability to provide pertinent content at the right time. |
| Solar | 9.4% | Location-based government subsidies are major drivers of sales for solar systems. Ensuring that leads have accurate information about incentives and costs heavily influences conversion rates. |
| Staffing & Recruiting | 3.6% | Leads in this industry tend to move in and out or through the sales funnel relatively quickly. Getting them to close is tied to having strong candidates and a good placement reputation. |
| Transportation & Logistics | 6.7% | Pricing and flexibility are important factors for conversion in this industry. Communicating these effectively, coupled with service reputation will drive rates. |
Further Reading & Requesting a Copy of This Report
If you would like to request a copy of this report as a PDF, you may do so here.
For more information on conversion rates by industry, see our other reports below:
- SQL to Closed Won Conversion Rate By Industry
- Lead-to-MQL Conversion Rate Benchmarks by Industry & Channel
- B2B SaaS Funnel Conversion Benchmarks
- Customer Acquisition Metrics & Benchmarks: How to Measure Success
- Average Customer Acquisition Cost (CAC) By Industry: B2B Edition
- Average CAC for SaaS Businesses, by Industry & Customer Type
- Digital Marketing Metrics & KPIs for 2025
For more information on how to improve lead-to-opportunity conversion rates for your industry, contact us.
