Definition: This refers to the final stage of a sales or negotiation process, where an agreement is reached and the transaction is completed. This involves securing a commitment from the buyer, negotiating the terms and conditions, and completing the necessary paperwork or payments.
Closing the deal represents the successful conclusion of a transaction and is typically seen as the point where both parties are satisfied with the outcome and can move forward.
Closing the deal happens at the bottom of the funnel. A sales funnel specialist can assist with increasing closing rates via giving better demos (guided tours) or helping a SaaS product improve its UX/UI and messaging.
Use It In a Sentence: The salesperson was feeling confident about closing the deal after weeks of negotiations and overcoming objections from the buyer.
More Definitions: Deal States Definition, Opportunity Definition, Joint Venture Marketing Definition, Quota Definition, User-Centric Definition, Coffee Is for Closers, ICP Sales
For Further Reading: When Does It Make Sense to Order a Sales Funnel Audit? | How a Broken Sales Funnel Gets Misdiagnosed | Service: Full Sales Funnel Audit & Conversion Rate Optimization Report
