Definition: Closing rate is a business metric used to measure the effectiveness of sales efforts and to determine the number of sales that are successfully completed out of a total number of sales opportunities.
The closing rate is an important indicator of a company’s overall sales performance, as it helps identify areas for improvement in the sales process and highlights the most effective sales techniques and strategies.
Use It In a Sentence: The company’s closing rate of 20% indicated that for every 100 sales opportunities, 20 were successfully closed, which provided valuable insights for improving the sales process and increasing overall sales performance.
More Definition: Closer Definition, Closed- Won Definition, Closed-Lost Definition, Coffee Is for Closers Definition, Churn Rate Definition, Gatekeeper Definition
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