Lead conversion rate measures how many inbound inquiries (website forms, calls, referrals logged as leads) turn into qualified pursuits. It’s the step before win rate: conversion tells you whether the right work is finding you; win rate tells you whether you close it.
Why it matters
A contractor spending on marketing or relying on its website wants to know whether inquiries are real projects or tire-kickers. Paired with response time, it also shows whether slow follow-up is costing work.
Worked example
Illustrative: eight website inquiries this year. Four were converted to an opportunity, two were dismissed (outside the service area), and two are still new. Conversion: 4 ÷ 8 = 50%.
Common mistakes
- Leaving unreviewed inquiries out of the denominator, which flatters the rate.
- Converting every inquiry “to be safe”, which floods the pipeline.
- Not recording why an inquiry was dismissed.
How os.construction handles it
Lead conversion is a metric in Analytics: website inquiries converted to a contact and opportunity ÷ inquiries received, next to lead first-response time and leads past their response target. Inquiries come from the CRM Inquiries queue, and a person reviews each one before it becomes a record.