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SQL to Closed Won Conversion Rate (Close Rate) by Industry: 2025 Report

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Sql Closed Won Conversion Rate

In this report, we share our data on sales-qualified lead (SQL) to close rates drawn from both our internal sales data and clients we’ve worked with from 2019 through 2024. We defined an SQL as any lead that:

  1. Has indicated clear intent to make a purchase,
  2. Can afford the product or service being offered, and
  3. Has met with a sales representative and determined to be a good fit for the product or service

The results of our study are found in the table below. We also provide commentary on each industry’s close rates, based on our direct experience working with companies in that industry, and interviews with our client contacts discussing their sales experience.

SQL to Closed Won Conversion Rate By Industry

IndustrySQL to Closed Won RateNotes
Addiction Treatment21%Addiction treatment sees high close rates due to the highly personal nature of the services offered. SQLs can more difficult to qualify, however, owing to the complexity of family involvement and insurance approvals.
Aerospace & Aviation18%Aerospace and aviation deals often involve long sales cycles and extensive compliance requirements, which can delay deal closures, but conversely increases leads’ emotional investment in the deal. As a result, close rates are relatively high so long as positive reputation and relationships are maintained.
Automotive20%The automotive industry sees relatively high close rates once leads reach the SQL stage, especially in the consumer automotive space. B2B automotive deals (e.g., fleet sales) tend to have significantly lower conversion rates compared to consumer sales.
B2B SaaS12%B2B SaaS can be a crowded market, with many platforms competing directly to solve the same customer needs. Close rates can be improved by offering customers lengthier free trial periods, giving them more opportunity to integrate new software into their standard business practices before committing to a purchase.
Biotech11%Biotech sales cycles are long due to regulatory approvals, clinical trials, and large capital investments. Decision-making is often complex, involving multiple stakeholders like scientists, regulators, and investors. Strong scientific validation and proven efficacy are key to improving close rates.
Business Insurance19%While insurance is a compulsory purchase for businesses and close rates are correspondingly high, most SQLs choose their provider on the basis of price.
Construction16%While construction is highly relationship-driven, SQLs will often secure multiple quotes or choose to use an RFQ process, driving conversion rates down to average levels.
Cybersecurity12%While business decision makers are increasingly aware of the need for strong cybersecurity, many still deprioritize finding a provider because they see it as a non-urgent operational expense.
Engineering14%Engineering services often have mid-to-long sales cycles due to complex project scopes and budget constraints. Firms with specialized expertise and strong references tend to close deals more efficiently.
Environmental Services13%Regulatory compliance, sustainability goals, and government incentives impact environmental services close rates. Organizations with proven results and strong case studies tend to see higher close rates. However, cost concerns and budget constraints can slow sales.
Financial Services16%High net worth leads often require significant nurturing, but sharing strong informational content and personalized sales materials can help close deals.
Fintech14%B2B fintech deals are relatively difficult to close because decision makers recognize how critical financial software is to their business, lengthening sales cycles and lowering close rates. Ability to integrate with existing financial systems is often a deciding factor.
Healthcare13%Healthcare sales involve multiple decision-makers, strict regulations, and lengthy approval processes, lowering close rates. Larger organizations such as hospitals often have extended procurement cycles.
Heavy Equipment20%Purchasing heavy equipment involves significant capital investment, financing considerations, and long-term commitments. Sales cycles can be long, but once a need is identified, close rates are strong. Repeat business and strong warranties help boost close rates.
Hotels & Resorts21%Group bookings and corporate partnerships tend to have higher close rates. Strong brand reputation and competitive pricing play key roles in closing sales.
HVAC29%HVAC close rates are exceptionally high due to the urgency of customers’ needs. Accordingly, commercial HVAC deals tend toward lower close rates than residential as a higher percentage of their leads are invest in non-urgent maintenance plans
Industrial IOT16%Industrial IoT solutions often require large-scale implementation, infrastructure upgrades, and IT integration, leading to long sales cycles. Proof of reliability is essential for closing deals in this space.
IT & Managed Services20%IT and managed services close rates depend on contract flexibility, service quality, and trust, but the need for cybersecurity and cloud solutions has increased demand and improved close rates.
Legal Services19%Legal services rely heavily on reputation, referrals, and trust. Urgent legal needs (e.g., litigation, mergers, compliance issues) tend to have higher close rates. However, cost concerns and long decision-making processes can lower close rates for non-urgent services.
Manufacturing13%Manufacturing SQL to closed won conversion rates depend heavily on supply chain stability and overall economic conditions.
Oil & Gas12%While oil & gas is a very traditional industry, with most closed deals originating through trade shows and personal connections, more and more decision makers have been turning to online research and SEO lead close rates have increased year over year.
Pharmaceutical19%While the pharmaceuticals industry tends toward long sales cycles because of regulatory approval and clinical testing requirements, truly innovative new drugs are strong drivers of closed deals.
Real Estate14%High-ticket commercial deals tend to have lower close rates than residential sales. Strong referrals, competitive pricing, and limited inventory drive higher close rates.
Software Development15%Custom software development sales cycles depend on project scope, budget, and technical requirements. Competition from off-the-shelf solutions can significantly lower close rates.
Solar13%Close rates in the solar industry are highly reputation and location-dependent, and are heavily impacted by local incentives and financing options.
Staffing & Recruiting16%Recruiting agencies with strong candidate pipelines and proven placement success tend to see the highest SQL to closed won conversion rates.
Transportation & Logistics14%Logistics sales depend on cost efficiency, service reliability, and contract flexibility. Companies offering customized solutions and fast implementation tend to close deals faster. However, pricing competition and economic fluctuations can impact conversion 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:

If you’d like to learn more about how our growth marketing agency can help bring in warm leads for your sales team, reach out here.

Evan Bailyn

Evan Bailyn is a best-selling author and award-winning speaker on the subjects of SEO and thought leadership. Contact Evan here.