Proposal Win Rates and Submittals

I’m interested in understanding what some of you are seeing as far as win rates on jobs you provide a proposal for. Obviously your win rate is higher with referrals but what are you seeing from advertising? 30%, 40%, 50%? Is this a metric you track, do you lump it all together (regardless of lead source) or are you just guessing at it?

I’m in the process of trying to scale and we are only hitting at like 20-25%. As a newer business lot of these leads are from advertising via Google, billboards, yard signs etc. While we do have strong referrals we just haven’t been around long enough to rely on those alone. I feel we have a strong follow up process, receive good feedback often on my sales guys abilities to problem solve and provide solutions, etc. I’m at a loss as to what we are missing.

Any help troubleshooting would be greatly appreciated.