Plain-language questions
Ask for quote conversion rate per month, customer or product in the SQL Explorer with AI. The AI writes the SQL, you see the query and run it yourself; the AI only receives metadata.
KPI · Sales
Quote conversion rate: formula and example.
Quote conversion rate is the percentage of quotes sent that the customer accepts. It is usually calculated as the number of accepted quotes divided by all quotes that have been decided on, meaning accepted or rejected. It shows how well your offer and pricing match what customers are asking for.
Quote conversion rate formula
Number of accepted quotes ÷ (number of accepted + number of rejected quotes) × 100%
Worked example
In the third quarter, Acme Groothandel sent 210 quotes: 84 accepted, 96 rejected and 30 still open. The quote conversion rate is 84 ÷ (84 + 96) × 100% = 46.7%. Based on all quotes sent, it is 84 ÷ 210 × 100% = 40%.
Fictitious figures for Acme Groothandel, a sample wholesaler.
How to read this KPI
A higher quote conversion rate means a larger share of your quotes leads to an order. Compare it by product group, customer segment and sales rep, and look at conversion by value alongside conversion by count. A high conversion rate combined with heavy discounting may mean you are quoting too cheaply.
Pitfalls with quote conversion rate
- Including open quotes in the denominator, so recent months score too low.
- Counting revised quotes as new ones, so a single request is counted several times.
- Leaving unanswered quotes open forever instead of marking them as rejected after a fixed period.
SQL & DAX
Calculating quote conversion rate in SQL and DAX
Two examples on a fictitious data warehouse for Acme Groothandel: a PostgreSQL query and a measure for a Power BI model. Adjust table and column names to your own model.
SELECT date_trunc('month', created_at) AS month,
COUNT(*) AS quotes_sent,
COUNT(*) FILTER (WHERE status = 'accepted') AS accepted,
COUNT(*) FILTER (WHERE status = 'rejected') AS rejected,
ROUND(100.0 * COUNT(*) FILTER (WHERE status = 'accepted')
/ NULLIF(COUNT(*) FILTER (WHERE status IN ('accepted', 'rejected')), 0), 1)
AS conversion_pct
FROM quotes
GROUP BY 1
ORDER BY 1;Quote Conversion Rate =
DIVIDE(
CALCULATE(COUNTROWS(Quotes), Quotes[Status] = "accepted"),
CALCULATE(COUNTROWS(Quotes), Quotes[Status] IN {"accepted", "rejected"})
)In ENABLE
Tracking this KPI in ENABLE
In your Power BI dashboard
Define the KPI as a measure in your Power BI model and show it in the portal, with "Last refreshed" next to it. Access profiles and optional row-level security decide who sees which figures.
Custom dashboards (pilot)
Add the KPI as a tile to a custom dashboard, compared with last year. The Dashboard Builder is a pilot and can be switched on per client.
Monthly targets
With the built-in Targets app you set a target for the KPI per month, so you see actuals and target side by side.
FAQ
Frequently asked questions
How do you calculate quote conversion rate?
Divide the number of accepted quotes by the number of quotes that have been decided on, then multiply by 100%. With 84 accepted and 96 rejected quotes, that is 46.7%. State whether you use decided quotes or all quotes sent.
What is the difference between quote conversion rate and win rate?
Quote conversion rate measures quotes sent, while win rate measures deals in your CRM. Not every deal gets a quote, and one deal can have several quotes. Use the measure that fits how your sales process works, or both side by side.
How can you improve your quote conversion rate?
You improve quote conversion by quoting faster, following up more often and only quoting for qualified requests. Analyse the reason for each rejection: price, lead time or product range. That shows where the biggest gains are.
Further reading
- KPI librarySales KPIs: formulas and examplesSales KPIs measure how healthy your pipeline is and how well it turns into revenue. The data comes from your CRM, combined with invoiced revenue from your accounting system.Read more
- ResourcesHow to build a KPI dashboard: steps and examplesA KPI dashboard is an overview of the key figures you use to steer towards your goals, such as revenue, margin, on-time delivery or absenteeism. A good KPI dashboard does not start with the software, but with the decisions it needs to support. You then choose a limited number of KPIs, define them, sketch the dashboard and only then build it.Read more
- SolutionPower BI dashboard portal: share dashboards securelyShare your Power BI dashboards securely in your own portal, with role-based access.Read more
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