What Does a Good Win Rate Look Like? (Benchmarks)

“What is a good win rate?” is one of the most-asked and least-satisfying questions in proposal management, because the honest answer is: it depends. A firm that mostly renews incumbent contracts will post a far higher win rate than one competing for cold, competitive bids – with identical execution quality. A single benchmark applied blindly will flatter one and unfairly condemn the other.

This guide gives you the benchmark landscape, the segments that matter, and a method for setting a target that is honest about your own mix of work. It also explains how to read benchmark claims critically, because not all published numbers mean the same thing.

A benchmark is a reference point, not a target. The only win rate that matters is one measured against your own segments, consistently, over time.

Why there is no single answer

Win rate varies with the denominator, the market and the mix. Before comparing yourself to any benchmark, know three things:

• What is being divided by what – proposals submitted, competitive decisions, or all opportunities.
• Which segment – incumbent renewals, new business, government, or a blend.
• What period and sample – a broad multi-year average behaves differently from a single quarter.

Most published “average win rates” blend segments together, which is exactly what a careful team should avoid. Use benchmarks to sanity-check direction, not to set a target.

Benchmarks at a glance

The most-cited public figures, with their sources and the segment they measure:

Read the table as a set of reference points, each measuring something slightly different. The 45% average and the 37% new-business median are not contradictory; they describe different populations.

The segment that matters most: incumbent vs new business

If you take one thing from this guide, take this: incumbent renewals and cold, competitive bids are not comparable, and mixing them makes any target meaningless.

• Incumbent renewals commonly win at 60-90%. You have the relationship, the track record and the inside knowledge; the bid is often about not losing rather than winning.
• Cold, competitive new business wins at single digits to mid-teens for poorly positioned bidders, rising toward 40-50% only when you are selective and well-positioned.

A firm weighted 80% toward renewals can post a “good” 60% win rate while performing poorly on the new business that drives growth. A firm weighted the other way can post a 30% win rate while outperforming on the deals that matter. Always report the two separately.

By company size and industry

Benchmarks also vary by who is bidding and in which market.

• Company size: larger enterprises tend to report slightly higher win rates than small firms, partly because they bid on larger, higher-qualification opportunities. Published ranges cluster around the low-40s for SMBs to the mid-to-high 40s for enterprises.
• Industry: sectors with high incumbency and repeat buying (managed services, defense, utilities) trend higher; sectors with commoditized, price-driven competition trend lower.
• Regulated procurement: government and regulated bids are structurally harder, with heavy compliance, formal evaluation and low win rates.

The takeaway is not to compare your firm to a global average, but to find the closest comparable population – same segment, similar mix – and use that as the reference.

Government and regulated procurement

Public-sector and regulated procurement deserves its own benchmark because it behaves differently.

• Win rates of 20-30% are typical, driven by heavy compliance, formal scoring and incumbent advantage.
• No-decisions are less common; a formal award almost always follows.
• Compliance is a hard gate: a single missed requirement can disqualify a strong bid, so the floor for quality is higher.
• Relationships still matter, but the process is designed to be fair and evidence-based, which raises the premium on documented proof.

If most of your work is government, a target borrowed from the commercial average will be unrealistically high. Set your target against government comparables.

Shortlist rate as a companion benchmark

Because win rate is a lagging indicator, pair it with shortlist rate – the share of submitted proposals that reach the shortlist.

• High-performing teams report a median shortlist rate around 63% (AutoRFP.ai, 2026).
• A high win rate with a low shortlist rate is unusual and worth investigating; a high shortlist rate with a low win rate points to the final commercial and presentational stage.
• Tracking both turns a single benchmark into a diagnosis. See Shortlist Rate vs Win Rate.

How to set your own target

A defensible target comes from your own data, not from a headline number. Build it in four steps:

• Segment your history. Calculate win rate by incumbent vs new business, by deal size and by industry, for the last four quarters.
• Find the closest benchmark. Match each segment to a published comparable rather than a global average.
• Set a target that is ambitious but grounded – typically a few points above your trailing average in each segment, not a leap to the market leader.
• Trend it, do not just snapshot it. Direction over time matters more than any single quarter; seasonality and deal timing create noise.

Then, and only then, compare your blended headline number to the market – as a sanity check, not a goal.

Reading benchmark claims critically

Published win-rate numbers vary widely, and many are quoted without context. Before you act on one, ask:

• What is the denominator? Submitted proposals, competitive decisions, or all opportunities?
• Which segment? A blended average hides the differences that matter.
• What sample and source? A vendor survey of its own customers is directional, not universal.
• Over what period? Multi-year averages smooth volatility; a single year may be an outlier.

A number without its denominator, segment and sample is a headline, not a benchmark. Cite it as such when you use it. When you publish your own benchmarks, hold to the same standard: state the denominator, the segment and the sample, so the number informs rather than misleads. The credibility of your benchmark page depends on being more rigorous than the averages it competes with. State your denominator, segment, sample and period in the same breath as the number, and refresh it as new data lands each quarter.

Setting a target: a worked example

Suppose your segmented history over four quarters is: incumbent renewals 70%, new business 25%, government 22%.

• Match each to a comparable benchmark: renewals (higher than average), new business (near the ~37% median but below it), government (within the 20-30% range).
• Set segment targets a few points above trailing performance: renewals 72%, new business 30%, government 25%.
• Report the segments separately and track trend, not a single blended number.

The blended figure this produces – say mid-30s – will look “low” against the 45% market average. That is a mix artifact, not underperformance; the segment view is the honest one.

Common mistakes

• Chasing a global average. It blends segments that are not comparable to yours.
• Mixing incumbent and new business. The two have very different, non-comparable win rates.
• Treating one quarter as a trend. Win rate is noisy; look at direction across periods.
• Setting a target with no segment basis. A target you cannot explain is a target nobody trusts.
• Ignoring shortlist rate. It moves earlier and diagnoses the cause.

Frequently asked questions

What is a good RFP win rate?

Across industries the average has run around 45% (2019-2026), with recent averages nearer 39-40% and top teams at 50-60%+ (Loopio, 2026). But “good” depends on your segment: incumbent renewals and cold bids are not comparable.

What is the average win rate for new business bids?

QorusDocs’ professional-services benchmark found a median of around 37% for new-business bids, versus materially higher win rates for existing-client work.

What is a good win rate for government proposals?

Government and regulated procurement typically sees win rates of 20-30%, reflecting heavy compliance and formal scoring. Set your target against government comparables, not the commercial average.

Should I compare my win rate to industry averages?

Only as a sanity check. Compare primarily against your own segmented history, and against the closest comparable population – same segment, similar mix of incumbent and new business.

Why does win rate vary so much between firms?

Because of the denominator, the segment mix, and incumbency. A firm weighted toward renewals will post a higher number than one weighted toward cold, competitive bids, regardless of execution quality.

How many quarters of data do I need to set a target?

Four quarters is a reasonable minimum to see seasonality and reduce noise. With less, set a provisional target and revisit it as the sample grows.

Is a 45% win rate good?

It is the multi-year average across industries, but it blends very different segments. For a firm weighted toward incumbent renewals it may be low; for one weighted toward cold, competitive or government bids it may be high. Judge your number against your own comparable segments.

Why do top teams report 50-60% win rates?

Top performers combine selectivity – bidding only where they can win – with strong process and reusable content. Their higher win rate reflects both better execution and better qualification: they decline more of the bids that drag an average down. The lesson is that win rate is as much a function of what you choose not to bid as of how well you write.

Next step

Use benchmarks to orient, not to grade. Segment your own history, match each segment to a comparable, and set a target you can defend. The Win-Rate Calculator will segment your last outcomes, and How to Calculate Proposal Win Rate gives you the formulas. To benchmark your firm properly, book a call.

Sources

• Loopio, 2026 RFP Response Trends & Benchmarks Report (1,500+ teams, developed with APMP): average win rate ~45% (2019-2026); recent averages ~39-40%.
• QorusDocs Proposal Management Benchmark Survey: new-business win rate median ~37%; existing-client win rates materially higher (reported above 70% for many respondents).
• AutoRFP.ai, 2026 Proposal Win Rate Report (94 bid professionals): high-win teams’ median shortlist rate of 63%.
• APMP and Loopio benchmark data (via industry cost and win-rate analyses): government and regulated procurement win rates of 20-30%.

Numbers are cited from their sources and dated. Where a source is a vendor benchmark, it is identified as such. Verify figures against the primary sources before republication.