Business & Growth

    Conversion rate

    The percentage of leads (or quotes) that become paying jobs.

    Definition

    Quote-to-job conversion benchmark for trades: 40–60%. Lower means pricing is off or the quote process is too slow. Faster turnaround = higher conversion.

    Related terms

    Lead

    A potential customer who has shown interest but hasn't booked yet.

    Estimate

    A non-binding written quote of the cost of a job, sent before work begins.