How To Track Your Close Rate on Deals

What’s your rate of closing deals? Tracking your close rate helps you identify areas of opportunity for increasing sales.

For example, if you know your close rate is 30% and your goal is to land 3 new clients, this tells you that you need 10 deals in the pipeline to make that goal.

What you'll learn:

  • How to track your close rates
  • How to report on close rates

In Daylite, you track your deals by creating Opportunities. If you haven't created an Opportunity, check out how to capture new business first. When a deal closes, either because you've won or lost the deal, it is important to change the State on the Opportunity.

  1. Find the Opportunity that closed in Daylite
  2. Click Edit
  3. Next to the state field select either Won or Lost
Change Sate

When you choose the new state, you can explain why you won or lost. Select the state reason that matches or create a new one.

  1. In the menu bar, click Daylite > Preferences
  2. Choose Opportunities
  3. Click Opporunity State Reasons
State Reasons

Analyzing your close rates

Win Loss Report

When you know your close rate, you can start forecasting how many leads you need to generate to achieve your sales goals.

  1. On the side bar, choose Reports
  2. Within the Opportunity Reports, select Opportunities Won Vs. Lost

Analyzing why you're winning and losing

Use Insights and learn how to analyze why you're winning and losing, and where they're getting stuck

Wrap Up

By tracking your close rate, you can make better decisions about forecasted sales, how many leads you need in the pipeline, and track your sales performance improvement.