Definition: Closed-Won or Closed Won in sales and marketing refers to a stage in the sales process where a sales opportunity has been successfully converted into a customer sale.
Many client<>agency relationships can go sour if they can’t get on the same page about how the agency contributes to closed won meaning “money in the bank.”
A junior agency that only does technical SEO or is only talking about ad impressions but not revenue generated may struggle if the entire sales funnel is not optimized. Proper CRM hygiene helps this type of reporting.
A more senior sales funnel consultant who can audit the entire funnel can help both the agency and business understand how the agency is contributing to closed-won business (revenue the business would not have made without the agency).
This term is often used in Customer Relationship Management (CRM) systems and sales pipelines to indicate that a deal has been finalized, and the prospective customer has agreed to purchase the product or service. It signifies the successful end of the sales cycle, where all negotiations and objections have been resolved, and the buyer has committed to the purchase.
Creating a founder brand, hiring a CRO expert or funnel builder, and most any other sales and marketing objective should lead to more closed-won status deals.
Use It In a Sentence: After several weeks of negotiations and product demonstrations, our team finally moved the deal to ‘closed-won’ status, marking a significant victory for our quarterly sales targets.
Related Definitions: Closed Lost, Deal Definition, Deal States, Opportunity Definition, Closing Rate Definition, Coffee Is for Closers, ICP Sales, Always Be Closing Meaning
Useful Posts: Bill Harper on Iconic Brands | Weighted Funnels: Optimizing Sales & Marketing Performance
