Alongside the source mix and response time already mentioned, I’d check whether you’re comparing cohorts that have had the same amount of time to convert. A batch of newer MQLs can make the rate look worse before sales has had a fair chance to work them.
Then review a small sample with sales and record why each lead didn’t progress: wrong fit, no current project, unclear need, or no response. Those need different fixes.
For the unclear-need group, a short assessment could ask what they’re trying to improve and when, then give them a useful recommendation. Carry those answers into HubSpot and compare progression with leads qualified only through activity.
Does your dashboard capture rejection reasons, or mainly stage changes?
