Reference Win Rate
Percentage of deals where a customer reference was provided that subsequently closed as won
What is Reference Win Rate?
Reference win rate is the percentage of deals where a customer reference was provided that closed as won. It shows whether references help to win business.
References are a scarce resource, so knowing how much they lift the win rate helps decide when to use them.
How this KPI is measured
- Function
- Marketing
- Sub-function
- Customer Marketing
- Industry
- All Industries
- Type
- Lagging
- Impact
- Revenue
- Unit
- %
- Measurement frequency
- Quarterly / Annual
- Formula
- (Deals with reference provided that closed won / Total deals where a reference was provided) × 100
How to calculate it
Divide the number of deals with a reference provided that closed won by the total number of deals where a reference was provided, and multiply by 100.
For example, if references were provided in 40 deals and 26 of them were won, the rate is (26 / 40) x 100 = 65%.
Compare with the overall win rate. If deals with references win at a much higher rate, references are worth prioritising.
Where it is used
Proving reference value
Show the impact on win rate to justify a reference programme.
Deciding when to use references
Use them at the stage where they help most.
Managing reference supply
Understand how many references are needed.
How to improve it
Tips and common mistakes
- References tend to be offered on deals that are already going well, so the result may overstate their effect.
- Protect your best references from overuse.
- Keep references current, as an outdated reference can hurt.
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