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: Is the Deal Won or Lost?
Type: Dropdown select
Values:

• 0

• 100

Step 2: Set the Property Automatically Using Workflows

Now create two workflows:

Workflow #1: Mark Lost Deals

• Enrollment trigger: Deal Stage = Closed Lost

• Action: Set Is the Deal Won or Lost? = 0

  
  

Workflow #2: Mark Won Deals

• Enrollment trigger: Deal Stage = Closed Won

• Action: Set Is the Deal Won or Lost? = 100

🧠 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 single-object report based on Deals.

Set the metric to: Average of Is the Deal Won or Lost?
Apply any filters you want: by pipeline, sales rep, deal stage, date, etc.

Step 4: View Results

You will now see your average deal conversion rate. For example, if it says 40%, that means 40% of the deals in your selected time frame 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

This creates visibility not only into the final results, but also helps you understand where your funnel is leaking.

If you're new to Conversion API, you can find more details in the official Facebook Conversion API documentation.

If you're new to GTM, check the official Google Tag Manager guide before starting.

For additional help, you can explore the Meta Events Manager help center.

You can also use Facebook's Test Events Tool to verify real-time data transmission.

Conclusion

By creating a simple custom property and automating it with workflows, 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 insights needed to close more deals.