to kind of echo what's been said, I've found two things that significantly improved my ratio. rod angle and hook size.
when I stopped keeping the rod vertical, that was the biggest improvement. barely lost more than a handful since changing to that method. not sure if it's the "correct" way to do it or not, but I'm trying to pull opposite horizontally from the direction the fish is trying to go and often find myself switching sides with the rod. as also mentioned, I keep my drag fairly soft and adjust while fighting. I'd rather start the fight knowing I can reel as much as I want without issue and dial it in for that particular fish.
For hook size, I try to go with the thinnest I can get away with and make sure it's sharpened. also on bigger hooks like on a twitching jig, filing down the barb rather than crimping it makes a big difference. that bump on a heavier gauge hook is a real impediment to setting it. I lost a couple on a 3/8 twitching jig this fall before I filed it and didn't have the issue again.