What does conversion mean in sales?

The process of turning a prospect into a paying customer.

In sales, conversion refers to the process of transforming a prospect into a paying customer. This process involves various steps and strategies designed to convince the prospect of the value of the product or service.

In sales, the term conversion is used to describe the process of transforming a prospect—someone who has shown interest and is deemed likely to purchase—into an actual paying customer. Conversion is a critical step in the sales process and typically involves various stages of engagement, including follow-up communications, product demonstrations, addressing objections, negotiating terms, and finalizing the sale. Effective conversion strategies often rely on understanding the prospect’s needs and pain points, providing relevant solutions, and building a relationship based on trust and value. Measuring conversion rates is crucial for sales teams to understand the effectiveness of their sales strategies and identify areas for improvement.

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