What does closed-won mean?

Definition and explanation

Closed-won is a term most commonly used in the sales industry to describe the state of a deal that has been successfully closed with a customer. It indicates that the sales team has successfully persuaded a customer to make a purchase, and all necessary agreements and contracts have been signed. This term is often used to track the progress of a sales team, as the number of closed-won deals can be a metric of success. Another term frequently used in contrast is "closed-lost", which describes deals that were lost to competitors or abandoned.

Why it matters in sales

In the cutthroat world of sales, every step counts, and every deal has the potential to make or break a company's bottom line. So it's no surprise that closed-won is a term that carries a great deal of weight. It's the difference between a high-five and a "better luck next time." Closed-won is the moment of truth, the culmination of hard work, perseverance, and a little bit of luck. It's the moment when the salesperson becomes the closer, the dealmaker, the hero. It's the holy grail of sales, the thing that makes the world go round. Without closed-won, there would be no sales, no revenue, no business. So, the next time you hear that term, remember that it represents the lifeblood of your organization, and treat it with the respect it deserves.

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