The stage when a potential customer purchases the product/service and becomes a paying customer.
Closing the Deal:
- This is the classic conversion scenario where a prospect transitions into a paying customer. They move from simply showing interest to actually purchasing your product or service.
- Progressing Through the Funnel: Conversion can also refer to any movement of a prospect down the sales funnel. This might involve smaller conversions like:
- A website visitor turning into a qualified lead by providing their contact information.
- A lead scheduling a demo or consultation with a salesperson.
- An existing customer renewing their subscription.
These smaller conversions indicate that the prospect is engaged and moving closer to becoming a customer.
