Time-to-close is the amount of time it takes to move a sales opportunity from initial contact to a closed deal, whether won or lost. It’s a key metric used to evaluate the efficiency of a sales process and the average speed at which deals are finalized.

Formula:

Time-to-close = Deal close date – Date of first contact

Example:

If a rep reaches out to a lead on August 1 and closes the deal on August 18, the time-to-close is 17 days.