First, I recommend conducting a sales training program to provide their sales reps with the necessary skills and techniques to close more contracts. This can include role-playing scenarios, objection handling, and effective communication strategies. Frameworks like SPIN Selling and Challenger Sales could be helpful in this regard.

Next, I suggest implementing a customer relationship management (CRM) system to track customer interactions and identify areas for improvement in the sales process. This can help identify common objections, track lead sources, and monitor sales pipeline progress. Popular CRM tools include Salesforce and HubSpot.

Another approach would be to review their sales process and identify any bottlenecks or areas for improvement. A framework like Lean Six Sigma could be used to identify inefficiencies and streamline their sales process.

Lastly, I recommend exploring the use of sales enablement tools such as content management systems, email templates, and performance analytics dashboards. These tools can help automate tasks, provide valuable insights, and improve productivity. Popular sales enablement tools include SalesLoft and HubSpot Sales.

Overall, the key is to identify the root cause of the low close rate and implement a comprehensive strategy that addresses the issue through sales training, process improvement, and technology enablement.