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Fast & Easy Reference Guide to the Most Commonly Used Sales Terms
Measures how much money a company makes per customer account on average in any given time period
Account Based Sales
Account-based selling is a strategy where everyone in the company focuses on one account. Account Executive (AE) will own the relationship from beginning to end
Account Executive is a person who manages and oversees the business's account with a particular client.
Channel Partner Marketing
Channel Partner Marketing is the process of marketing through a company's partners in order to increase sales.
A GTM strategy is a road map that outlines how to reach out and gain a competitive advantage.
Gatekeepers are people who either block or give access to key decision-makers in a company
Gross Margin is the difference between a company's revenue and its cost of goods sold.
Cloud-based technology that eliminates the need to purchase hardware and software upfront
InMail is the new way to connect with people on LinkedIn over great content, job opportunities and more.
Inbound sales is a sales approach that prioritizes individual buyers' demands, challenges, objectives, and interests.
Influencer marketing is when you use people with a lot of followers on social media to help promote your product.
Interactive Voice Response System
Interactive Voice Response System is a type of phone system that lets you conduct business transactions over the phone.
A landing page is an individual web page that appears when someone clicks on your advertisement.
Lead generation is a process by which businesses generate leads and convert them into opportunities.
Lead qualification is a process of determining whether a lead fits your Ideal Customer Profile (ICP) and is a good fit for your brand or product.
Lead scoring is the process of assigning a value to each lead based on their predicted conversion rate
Lifetime Value LTV
Total of both the revenue generated by an individual over their lifetime as a customer
List hygiene is a practice that involves clearing out all the inactive and non-interactive emails on your mailing list.
Marketing Qualified Lead (MQL)
Prospects that have expressed interest in purchasing your product or service and usually meet certain criteria set forth by the company.
Monthly Recurring Revenue (MRR)
Total income generated from an organization's recurring revenue sources during a given month
Outbound sales is a process of going out into the world and finding new customers
Company offering products at or below cost as part of an effort to open up the market and acquire new customers
Process that helps companies grow their business by increasing the number of SQLs
A sales account is an individual company, business or organization that you intend to sell your product or service.
A technique used to measure the effectiveness of a product or service.
Sales associates are responsible for customer relations and provide the knowledge base to customers.
Sales budget is a set amount of money allocated for marketing & sales expenses.
Application that helps salespeople manage contacts, organize leads, sort opportunities by stage of the sale process
Sales commission is a percentage of the total sale price for an item that goes to the salesperson who sold it
Sales consultants are people who work with a company to help sell their products and services.
Sales development is a form of marketing strategy that leads qualified prospects to the sales team
Sales Development Representative (SDR)
SDR's are the first to speak with prospective customers, and their primary responsibility is to build relationships
Sales distribution is the process of assigning a product to a specific retailer, wholesaler or another channel.
Enabling sales teams with knowledge and tools necessary for success is Sales Enablement.
A sales executive is someone who manages the day-to-day operations of a company's sales team.
Sales funnel is a process that shows the journey of how a prospect becomes a customer.
Sale gamification is the process of turning a task or activity into a game to make it more enjoyable
Sales hackers are people who develop inventive ways of selling products or services
A document that records the purchase of goods or services is an Invoice.
Sales KPI is a measurement used in performance management to track success rates
Sales kick off is a meeting designed to help initiate or get a new project started.
Sales lead is a person or company that has high potential interest in purchasing your product or service.
Sales leadership is the process of developing team members to be confident, self-driven sales professionals.
A sales letter is a document sent to potential customers that persuades them into buying
Sales lifecycle is the process that people go through until they buy a product.
Sales logistics is the process of fulfilling an order as it moves through a company's supply chain.
Sales management is the process of organizing and coordinating sales activities.
Analyzing how much income can be generated by the sales team at various levels of selling
Sales negotiation is the process of trying to reach an agreement with a customer
Sales objection is a reason why someone doesn’t want to buy your product/service
Sales operations is the process of arranging, coordinating and leading all sales related activities.
Sales pipeline refers to leads interested in your product/service but haven't yet made a purchase decision.
A sales pitch is a short presentation that you give to sell your product.
Sales planning is a process used by sales managers to help their organization identify and create revenue opportunities.
A sales presentation is a formal meeting between the seller and their customer.
Sales process is the series of steps that happen from when a customer first makes contact with an organization to finalizing the sale.
Sales qualification is the process of understanding a prospect's needs and their readiness to buy.
Sales quality is the measurement of how well a salesperson can close deals & upsell.
A quota can refer to a goal or revenue target set by an organization
Sales quotation is a written offer of price from one company to another
A sales quote is the what a company will produce for a customer at a certain price
A sales report is a summary of the financial performance for a particular period.
Sales revenue is the total sales dollars of a company over a period.
Sales script is a series of statements that are used by salesperson to persuade prospects.
Sales strategy is the process of determining what course or action to take in order to achieve a desired goal.
Prospects who pretend to be interested in your offering but never actually buy anything
Top of Funnel (TOFU)
TOFU is the initial stage of marketing. It's where you first introduce your product or service to potential customers.
Total Addressable Market (TAM)
TAM is the total size of a potential market for the product or service
Warm Email is an email sent to someone who has previously engaged with your company
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