Conversion rate is the percentage of leads or estimates that turn into paying jobs. In field service, the most commonly tracked conversion rate is estimate-to-job: of all estimates sent, what percentage are accepted. Industry average conversion rates for field service range from 30-60%, with top performers exceeding 70%. Tracking conversion rate by service type, lead source, and estimator reveals exactly where revenue is being lost.
A landscaping company sent 80 estimates last month and won 44 jobs, giving them a 55% conversion rate. They notice that estimates sent within 1 hour of inquiry convert at 72%, while estimates sent after 24 hours convert at only 31%.
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