You’ve just engaged with a hot prospect. You're confident, the conversation is flowing, and everything seems aligned. You can almost taste the victory. But then, weeks turn into months, and the deal is still hanging.
And all of a sudden, the prospect stops replying (or you get an email bounce as they changed job) and you’re back at square zero.
What went wrong?
Engaging with prospects quickly generally leads to a higher close rate. The same principle applies to opportunities. The faster you move a deal to close, the higher the win rate.
But there’s more to this story.
You might debate the correlation versus causation here. Are slow deals just due to reps not closing their old ones?
But in this post, I’ll ignore that question and instead focus on helping you understand the current reality regarding your business's close rate per cohort.
This post aims to help you answer the question: How does deal age impact your close rate?
We’re only looking at deals in a closed stage, i.e., won or closed deals.
In this example, there is a steep increase in deals lost the longer they stay open. This is often the case, but here, the increase is very steep and a reason for concern.
Either...
