Why Deal Conversion Rate Matters

Many sales teams focus on the number of deals closed — but forget to measure how many opportunities are being lost along the way.
That’s where deal conversion rate becomes a critical KPI. It answers the question:

"What percentage of deals that entered the pipeline actually closed successfully?"

This helps you:

• Evaluate sales team performance

• Optimize your funnel

• Understand the quality of incoming leads

• Make better forecasting decisions

This guide shows you how to automate this measurement in HubSpot without expensive tools or manual tracking.

Step 1: Create a Custom Deal Property

Go to Settings → Properties and create a new custom deal property.

Name: Deal conversion rate
Type: Number --> Percentage

Step 2: Set the Property Automatically Using Workflows

Now create a workflow:

Workflow: The Trigger

• Enrollment trigger: Deal Stage = Closed Lost or Closed won

• Re-enrollment should be turned on, with all possible re-enrollment criteria selected

  
  

Workflow: The Action

• Branch: AND/OR

  • Branch 1: Deal stage = Closed won
  • Branch 2: Deal stage = Closed lost

• Action:  Set the deal conversion rate as 100% (won) or 0% (lost)

🧠 Why Use 0% and 100%?

You might wonder:

"Why are we assigning 0% or 100% instead of calculating actual % values?"

Because this is the easiest and most scalable way to calculate the average conversion rate using HubSpot's default reporting tools.

For example:

• If you had 10 deals, 3 were won, and 7 were lost:

  • Each won deal = 100%

  • Each lost deal = 0%

  • Average = (3×100% + 7×0%) ÷ 10 = 30% conversion rate

HubSpot doesn't support native conversion formulas, so this logic simulates it using workflows and averages.

Step 3: Create the Report

Go to Reports → Custom Report Builder and create a custom report based on Deals.

*Pro Tip: It's usually better to clone an existing deal report and editing it, rather than creating one from scratch. That way, your fields will already be configured and this will save you lots of time in the long-run.

Setting the filters

Filters: Generally we recommend to keep the filters broad on the report level, so that you can use quick filters on the dashboard level to get the valuable business insights you need. The filters on this report should be: Deal stage should be Closed won OR closed lost.

Building the report

You can build any kind of report you like with this new metric. However, in this example we will go over a simple KPI type of report.

Select the KPI type of report in the "Chart" section. Drag the deal conversion rate" property into the values, and set the aggregation model to show "Average."

You will now see your average deal conversion rate. For example, if it says 40%, that means 40% of the deals within your selected filters were won.

What to Do With This Report

Once your report is live, you can:

• Add it to your sales dashboards

• Break it down by sales rep, deal source, pipeline, or deal type

• Track weekly/monthly trends

• Follow up on these insights with informed actions such as providing additional training for reps with low conversion rates, improving the sales processes for certain products, or better addressing objections of companies with underperforming industries.

This creates visibility not only into the final results, but also helps you understand where your funnel is leaking and take concrete steps to improve conversion rates.

Conclusion

By creating a simple custom property and automating it with a simple workflow, you can unlock powerful deal conversion reporting in HubSpot — without coding or third-party tools.

This technique is scalable, beginner-friendly, and gives your team the actionable insights needed to close more deals.