The sales funnel is a step-by-step guide to understand the process of reaching out and closing deals. It starts with potential leads, then continues through various other stages until you’re left with an actual buyer or client for your product/service. At the “end” of the sales process or funnel, you have to determine whether or not you have completed the sale.
In Salesforce and other similar sales tools, the positive completion of a sale that you can close now is known as “closed won.” Here we will show you precisely what the term “closed won” in sales means and why you need to pay attention to it? Have a look.
What Does “Closed Won” Mean?
First, let’s discuss the actual meaning of “closed won.” The closed-won is the final stage in your sales funnel. You’ve made a sale, and now it’s time to close negotiations so that you can get paid.
This includes all the conversion of a business lead into a devoted and paying customer. Similarly, this also includes the conclusion of any order or product or the signing of services and subscriptions. Using the “closed won” Salesforce feature is used to classify or mark the sale as 100% closed and completed, and now you can work on other business leads in the sales funnel.
It is totally opposite of “closed lost” that defines a specific situation in which a sale is not made or not successfully concluded, or you have a lost customer.
How “Closed Won” Is Related to Salesforce?
As mentioned above, closed-won is the most effective function in Salesforce and an important part of the sales funnel. After closing the deal and winning the sale 100%, you can set or mark that deal as “closed won” on your Salesforce.
After doing that, this sale, along with the details such as value, date, etc., will be added to your closed-won record for the year. The benefit of marking any deal as closed-won removes that deal from your current sales pipeline, and your sales and marketing know that particular sale or deal is completed.
How “Closed Won” Helps and Improves Sales Strategies?
Closed won is more than just marking a sale as successful or unsuccessful. In Salesforce, you can organize your closed-won sales data in many ways as per your preferences to inform your future sales strategies.
There are various “closed won” stats and charts that will show you and your team who are top performers in the team, what type of customers are ordering products more or acquiring your services, and what type of sales and strategies will be more fruitful for your business and result in a closed-won.
This feature also improves your firm’s transparency and allows you to monitor how things are going on and what you can do to improve them.
Lastly, closed-won is a vital sales term, and the Salesforce feature is beneficial for your business as well as for your sales staff. By using the feature, you can learn from your achievements and improve your conversion rate more.