What are Deals won?
Deals won otherwise called Closed Won in CRM tools indicate that leads have reached the end of the sales cycle and are ready to be closed. Essentially, the customer has made a firm commitment to buy from you. As far as this opportunity or deal is concerned, no further sales effort is required.
The concept of "deals won" is a way to measure the success of a sales strategy. It's a simple way to compare how many customers you have and how many sales you've made, in order to assess whether your approach is working.
To qualify as a deal won, a lead needs to go through all stages (for example, from the stage where the lead was generated to the stage where it was closed).
Read more - What is leads?
Deals won in Sales Pipeline
As you go through your sales process, you'll feel like you're on a roller coaster. You may be on top, down, or not sure where you are. One thing is for sure, The final stage in your sales process closing the deal is one of the most exciting moments of any sale.
When the lead finally reaches this stage, there are two possible outcomes: The leads either buy from you or they don't. If they buy, you can mark the deal as won. But if they don’t buy, you can always check back later to see if they've changed their minds and are ready to buy.
How to calculate Deals won rate?
The deals won rate can be calculated by dividing the number of deals won in a particular time period by the total number of deals created in that period.
If you have 100 total deals and 50 of them are won, then your deals won rate will be equal to 50 percent.
Using this metric, you can measure the effectiveness of your sales strategies. If you're getting more deals won then it means that leads like what they hear about your product or service and are willing to buy it.
Why is it important to track Deals won?
Tracking deals won is important for a few reasons.
- First, it helps you know how your business is working. When you have a lot of deals in the pipeline, but none of them are closing, there's something wrong with your process. Tracking which deals are won and lost can help you figure out where your company is falling short.
- Keeping track of your wins is important because knowing what works best for each customer will allow you to make more informed decisions about which strategies are best suited for those situations. You can use this data to optimize your future pitches, ensuring that you're always presenting the right product or service at the right time.
- Another benefit of tracking deals won is that it allows you to set clear goals for your team members. Your salespeople will know exactly what they need to do in order to reach their targets. This will help motivate them and ensure that everyone is working towards achieving a shared goal, which is one of the most important things when building a great company culture.
What causes low deals won?
When there are low deals won, it means that the sales are not closing as quickly as they should. This can happen for a variety of reasons.
Research shows that 80% of potential opportunities are lost without a trace simply due to a lack of follow-up. People and companies who don't follow up, who do nothing to build up that trust and relationship, cannot succeed.
How do you improve Deals won?
Robert Clay of Marketing Wizdom states that 63% of the people requesting information from your company today will not purchase for at least three months and 20% will take more than 12 months to buy.
The most critical thing to improve your deals won is by following up on the leads. In the world of business, maintaining top-of-mind awareness is imperative. To establish your professionalism and trustworthiness, you should regularly contact your prospective customers and existing customers.