In this resource, we've compiled 604 essential sales terms that are indispensable for anyone involved in sales, from CEOs and Chief Revenue Officers to Sales Managers, Sales Persons, and SDRs (Sales Development Representatives). Whether you're a seasoned sales professional or just starting your journey in the world of sales, these terms will provide you with a solid foundation to excel in this dynamic field.
Point of Contact: The person or entity that serves as the primary connection or contact point for a specific interaction or communication.
Total Value to Paid In (TVPI): A financial metric used in private equity investments to compare the total value received by investors to the amount of capital they have contributed.
The series of activities involved in transforming raw materials into finished products and distributing them to customers.
Sales Engineer: A professional who combines technical knowledge with sales expertise to support the sales process by providing technical solutions and guidance to customers or clients.
Conversion rate: The percentage of potential customers who take a desired action, such as making a purchase or subscribing to a service, out of the total number of individuals who were exposed to the offer or opportunity.
Trade-Shows: Events where businesses showcase their products and services to potential customers and partners.
On Track Earnings/On Target Earnings (OTE): The projected or expected income that a salesperson can potentially earn based on meeting their sales targets and performance goals.
Sales methodology refers to a structured approach or system used by sales professionals to guide and organize their sales process and activities.
ABC stands for "Always Be Closing." It is a sales strategy that focuses on consistently and actively pursuing and closing sales opportunities.
A/B testing: a method of comparing two different variations of a webpage or marketing campaign to determine which one performs better in terms of user engagement or conversion rates.
A/B Testing: An experiment used to compare two different versions of a webpage, advertisement, or other sales materials to determine which one performs better in terms of achieving the desired outcome.
Account: A record of a customer's purchase history, contact information, and payment details.
Account-Based Everything (ABE) or Account-Based Revenue (ABR): A strategic approach that focuses on aligning sales, marketing, and customer success efforts towards targeted accounts, aiming to maximize revenue and foster long-term customer relationships.
Account-based marketing (ABM) is a strategic marketing approach that targets and engages a specific set of high-value accounts, tailoring marketing efforts to meet their needs and build personalized relationships.
Account-Based Marketing (ABM): A strategic approach to marketing where specific high-value accounts are targeted individually, tailoring marketing efforts to meet their unique needs and preferences.
Account-based sales refers to a targeted sales approach that focuses on building relationships and delivering personalized solutions to specific accounts or clients.
Account-based selling (ABS) is a targeted sales strategy that focuses on personalized selling efforts towards specific high-value accounts.
Account-based selling: A sales strategy that focuses on targeting and engaging specific, high-value accounts to drive personalized and targeted sales initiatives.
Account-Based Selling (ABS): A targeted sales approach that focuses on identifying and engaging specific high-value accounts to develop personalized strategies and drive revenue growth. Account-Based Sales Development (ABSD): A proactive and personalized sales prospecting strategy that helps identify and engage key decision-makers within targeted accounts to create opportunities for sales conversion.
An account development representative is a sales professional responsible for nurturing and expanding relationships with existing accounts to maximize sales opportunities.
Account development representative: A sales professional responsible for nurturing and expanding existing client relationships to drive sales growth.
Account Development Representative (ADR): A sales professional responsible for identifying and qualifying potential customers, and nurturing relationships to drive revenue growth.
Account executive: A sales professional who is responsible for managing and nurturing relationships with clients and driving sales revenue for the company.
Account manager: A professional responsible for maintaining and developing relationships with assigned customers, serving as their primary point of contact for communication and support.
An account representative is a sales professional who manages and serves as the main point of contact for specific customer accounts.
Accounts Payable refers to the money a company owes to its suppliers or vendors for goods or services received but not yet paid for.
Accounts Payable: The amount owed by a company for goods or services received, which is recorded as a liability on the balance sheet until it is paid.
Accounts Receivable: The amount of money owed to a company by its customers for the sale of products or services, which is recorded as an asset on the company's balance sheet.
Account: A customer for a business.
Accredited Investor: A person or entity who meets certain financial requirements and is allowed to participate in certain types of investment opportunities that are restricted to non-accredited investors.
Ad hoc reporting: Generating customized reports on demand, based on specific requirements or queries.
Ad-hoc reporting refers to the creation of reports on an as-needed basis, typically to address specific or ad-hoc requests for data analysis.
Adoption Process: The series of steps a customer goes through, from initial awareness of a product or service to making a purchase and integrating it into their daily routine or operations.
Advantage: A favorable or beneficial circumstance or condition that gives one person or business an edge over others in terms of competitiveness or success.
Advertising sales executive: A professional responsible for securing advertising contracts and generating revenue by selling advertising space in various media, such as print publications, online platforms, or broadcast channels.
Agency sales: A type of sales arrangement where a company authorizes an individual or organization to act as their agent and sell products or services on their behalf. The agent is usually compensated through commissions based on sales volume or a predetermined fee structure.
AIDA: An acronym that stands for Attention, Interest, Desire, and Action - a framework used in marketing and sales to describe the stages a customer goes through in the buying process.
Always be closing (ABC): A sales technique that emphasizes the importance of consistently pursuing and finalizing the sale of a product or service.
Amortization: The process of gradually reducing or paying off a debt through regular payments over a specific period of time, typically with interest.
Amortization is the gradual reduction of a debt over time, typically through regular payments.
Analytical CRM refers to the use of data and analysis to understand customer behavior, preferences, and trends, with the objective of making informed decisions to enhance sales strategies and improve overall customer satisfaction.
Analytics is the process of examining data and extracting meaningful insights to make informed business decisions.
The total value of a contract over the course of one year.
Annual contract value (ACV): The total value of a contract over a 12-month period, including any recurring charges or fees.
Annual recurring revenue (ARR) refers to the total amount of revenue that a business expects to receive from its customers over the course of one year, based on recurring subscriptions or contracts.
Annual recurring revenue (ARR) refers to the total amount of predictable and recurring revenue that a business generates from its customers on an annual basis.
An Applicant Tracking System (ATS) is software used by employers to manage and streamline the recruitment process, including collecting, organizing, and tracking applicant information.
Application Program Interface (API): A set of rules and protocols that allows different software applications to communicate and interact with each other.
Appointments Set: Refers to the act of scheduling meetings or gatherings between sales professionals and potential customers or prospects.
Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are designed to think and learn like humans.
AI is a technology that enables machines to imitate human intelligence and perform tasks autonomously.
Asset: Something of value owned by an individual or organization, which can be used to generate income or provide future benefits.
Assistant regional sales manager: A position within a sales organization that supports and assists the regional sales manager in overseeing sales activities within a specific region.
Automotive sales representative: A professional who works for a car dealership and is responsible for selling vehicles to customers.
Average Contract Value (ACV): The average monetary value of a contract or agreement signed with a customer.
Average Dollar per Sale (ADPS): A metric used to calculate the average amount of money generated per sale. It is obtained by dividing the total sales revenue by the total number of sales made within a specific time period.
Average dollar sale: The average amount of money spent by a customer during a single transaction.
Average Sale / Selling Price (ASP): The average amount of money generated from each sale made by a business.
Awareness is the state of being knowledgeable or informed about something.
Awareness: The level of knowledge or recognition that potential customers have about a product or brand. Interest: The curiosity or attention shown by potential customers towards a product or brand. Desire: The strong inclination or aspiration of potential customers to own or possess a product or brand. Action: The final step in the sales process, where potential customers take the desired action, such as making a purchase or signing up for a service.
Business to Business (B2B) refers to transactions and interactions between two businesses, rather than between a business and a consumer or individual.
B2B sales: Business-to-business sales refers to the process of selling products or services from one business to another.
B2C2B refers to a business model where a company sells its products or services directly to consumers, who then resell or distribute those products or services to other businesses.
B2C (Business to Customer): A sales model in which businesses sell their products or services directly to individual customers.
B2C sales: It refers to business-to-consumer sales, where businesses sell products or services directly to individual consumers.
Back-out: The act of cancelling or reversing a transaction or order.
Bad leads refer to potential customers who are unlikely to convert into paying customers or make a purchase.
A financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time.
BANT refers to Budget, Authority, Need, and Timeline, which are essential elements used in qualifying a sales opportunity.
BANT for SaaS Qualification: BANT is an acronym representing Budget, Authority, Need, and Timing, which are key factors used to assess the potential of a sales opportunity in the context of Software-as-a-Service (SaaS) qualification.
BANT framework: A sales qualification methodology that stands for Budget, Authority, Need, Timeline. It is used to determine the potential of a lead or prospect and guide sales efforts accordingly.
Base / Base Salary: The fixed amount of money that an employee earns before any additional compensation or bonuses.
Baseline: The starting point or reference value used for comparison or measurement.
Baseline: A starting point or reference used for comparison or measurement.
BASHO Email: A personalized and tailored email sent to individual recipients with the aim of initiating a conversation and building a relationship. It focuses on individual needs and interests to engage the recipient in a meaningful way.
Beating objections: The skillful process of addressing and overcoming any concerns, doubts, or hesitations that customers may have during a sales interaction.
Bell-Shaped Curve: A graphical representation of a distribution that resembles the shape of a bell. It is symmetric, where most data points are concentrated around the mean and decrease gradually towards the extremes in a smooth curve.
Benefit: The value or advantage that a product or service offers to the customer, addressing their needs or solving their problems.
Benefits: The positive outcomes or advantages that individuals or businesses gain from a product, service, or decision.
Benefits - The advantages or positive outcomes that a product or service offers to customers, often addressing their needs and preferences.
Bluebird: A term used in sales to refer to a highly anticipated and unexpected sales opportunity that brings substantial profit or success.
A bonus is an additional sum of money or reward given to a person, typically as a result of achieving specific sales targets or performance goals.
Bookings: The act of recording and confirming customer orders for products or services, typically representing an agreement to make a future purchase.
The book value refers to the total value of an asset as recorded in a company's financial statements, based on the original cost of the asset minus any accumulated depreciation or amortization.
Bottom of the funnel refers to the stage of the sales process where potential customers are closest to making a purchase decision.
BOFU stands for Bottom of the funnel. It refers to the stage in the sales cycle where potential customers are at the end of the buying process and are close to making a purchase.
A bounce back coupon offer is a promotional discount or incentive provided to a customer after their initial purchase, encouraging them to make a repeat purchase in the future.
Brag Book: A portfolio of an individual's accomplishments and successes, typically used in sales to showcase achievements, testimonials, and other relevant evidence of performance.
Brand: A distinctive name, design, symbol, or logo that represents a company, product, or service in the marketplace, distinguishing it from competitors.
Brand ambassador: A person or representative who promotes a brand by embodying its values and messaging, often through public appearances and communication channels.
Budget: The allocated amount of money set aside for specific expenses or purposes. Authority: The power or right to make decisions, take action, or give approvals. Need Timeline (BANT): A framework used in sales to assess and qualify potential customers based on their Budget, Authority, Need, and Timeline.
A Business Development Representative is a sales professional responsible for generating new leads and opportunities for a company's products or services.
A Business Development Representative (BDR) is a sales professional responsible for generating leads and nurturing relationships with potential customers to drive business growth.
Business development sales: The process of identifying and pursuing potential business opportunities, clients, or markets to expand and grow the sales and profitability of a company.
Business intelligence refers to the use of data analysis to gain actionable insights and make informed decisions for a business.
B2B (Business to Business) - A transaction or interaction between two businesses, involving the sale of goods, services, or information.
Business-to-business (B2B): Refers to commercial transactions between businesses, where one business sells products or services to another business, rather than directly to consumers.
Business to consumer (B2C) - Refers to the exchange of goods or services from a business entity directly to individual consumers.
B2C: Business-to-consumer refers to commercial transactions conducted directly between a business and individual consumers.
Business to customer (B2C) - A type of business model where goods or services are sold directly from a business to individual customers.
Buyer: A person or entity that purchases goods or services.
Buyer: An individual or organization that purchases a product or service for personal or business use.
Buyer behavior refers to the actions and decision-making process undertaken by individuals or organizations when purchasing a product or service.
Buyer behavior refers to the actions and decisions made by individuals or organizations when purchasing goods or services.
Buyer persona: A semi-fictional representation of an ideal customer based on market research and real customer data.
Buyer's Remorse: A feeling of regret or unease experienced by a consumer after making a purchase.
The environment and ambiance created in a retail space to encourage customers to make purchases.
Buying criteria refers to the specific factors and requirements that buyers consider when evaluating and selecting a product or service for purchase.
Buying criteria refers to the specific requirements and considerations that customers have when making a purchasing decision. It includes factors such as price, quality, functionality, durability, and any other features or attributes that are important to the buyer.
Buying intent refers to the willingness or desire of a customer to make a purchase.
Buying intent refers to the intention or inclination of a potential customer to make a purchase.
Buying persona refers to a fictional representation of an ideal customer or target audience, based on market research and data analysis.
The sequence of steps and actions taken by a customer in order to purchase a product or service.
Buying Process / Buying Cycle: The series of steps or stages that a customer goes through when making a purchase, from initial awareness to final decision and transaction.
Buying signal: A buying signal is an action, statement, or behavior exhibited by a potential customer that indicates their interest or intention to make a purchase.
A buying signal refers to any action, statement, or behavior displayed by a potential customer that indicates their interest or intention to make a purchase.
Buy line: A concise and appealing statement used in advertising or promotional materials to encourage immediate purchase of a product or service.
Call-Back: A return phone call made by a sales representative to a customer in response to a previous conversation or inquiry.
Call-Blocks: Restrictions or limitations placed on the number of calls that a salesperson can make within a certain time period.
Call for proposal: A request made by a company or organization inviting potential vendors or suppliers to submit their proposals for a specific project or opportunity.
Call for Proposal: A request made by a business or organization inviting external parties to submit proposals outlining their offerings or solutions to meet specific requirements or needs.
Call-In: A method of customer contact in which the customer initiates communication by phone.
Calls: Interactions or communication made between sales representatives and potential or existing customers with the aim of generating sales or providing support.
Cancellation Prevention: The set of actions and strategies implemented by businesses to minimize the likelihood of a customer cancelling or terminating a purchase or service.
Cap Draw: A predetermined amount of money paid to a salesperson on a regular basis, typically provided as base salary or guaranteed compensation, regardless of their actual sales performance.
The term "capital structure" refers to the way a company finances its overall operations and growth through a combination of debt and equity.
Cases: The total number of units of a product purchased or sold during a defined period of time.
Cases or tickets: Records or files that document inquiries, requests for assistance, or reported issues from customers or clients. They are typically used by sales and customer support teams to track and manage customer interactions and to provide timely and effective resolution.
Cash Collection: the process of receiving and managing payments in the form of physical currency or electronic transactions.
Cash flow: The amount of money flowing in and out of a business over a specific period of time.
Challenger sales model: A sales approach that focuses on challenging customers' beliefs and assumptions to drive value and differentiation.
The Challenger Sales Model is a strategic approach to sales that emphasizes the salesperson's ability to educate and challenge the customer's thinking in order to drive new insights and create a differentiated solution.
Champion / Challenger Test: A method used in sales that compares the performance of an existing strategy or product (champion) against a new alternative (challenger) in order to determine which one is more effective.
A channel partner is a third-party organization or individual that collaborates with a company to market, sell, or distribute its products or services.
Channel sales refers to the process of distributing a product or service through a network of intermediaries or third-party partners.
Channel Sales refers to the distribution of products or services through intermediaries, such as wholesalers, retailers, or agents, to reach the final consumers.
Chief Sales Officer (CSO): The executive responsible for leading and managing the sales activities of a company.
Churn: The rate at which customers leave or discontinue their business with a company.
Churn rate: Churn rate refers to the percentage of customers or subscribers who discontinue using a product or service over a specific period of time.
Churn rate: The percentage of customers who cancel or stop using a product or service within a given period of time.
Claw-back: A contractual provision that allows a company to reclaim previously paid commissions or bonuses from an employee under certain circumstances.
C-Level / C-Suite: The highest level executives in a company, typically consisting of the CEO (Chief Executive Officer), CFO (Chief Financial Officer), CTO (Chief Technology Officer), and other senior executives with strategic decision-making authority.
Click-Through Rate (CTR): The ratio of the number of clicks on a specific link or advertisement to the total number of times it was displayed, expressed as a percentage.
A client is a customer or organization that purchases goods or services from a business.
A client is a person or entity who purchases goods or services from a business.
Close: The final step in the sales process where a deal is successfully completed and the customer agrees to purchase the product or service.
Closed-lost: Refers to a sale opportunity that is not completed or won by the salesperson or organization.
Closed-lost: An outcome in the sales process where a deal does not successfully conclude, resulting in no sale being made.
Closed opportunities refers to potential sales deals that have been successfully completed and finalized, resulting in revenue generated for the business.
Closed opportunities refer to prospective clients or customers that have reached a final decision and have made a purchase or entered into a contract with a salesperson or company.
Closed Question: A type of question that typically requires a specific and concise answer, often a simple "yes" or "no."
Closed-won: Refers to a finalized sales deal or opportunity that resulted in a successful agreement and the completion of a sale.
Closed-won: A term used in sales to indicate that a sales opportunity has been successfully concluded, resulting in a successful sale.
Closing ratio: The percentage of successful sales deals finalized compared to the total number of prospective sales opportunities.
Closing ratio - The percentage of potential sales opportunities that result in a successful sale or transaction.
Cloud-based CRM: A customer relationship management (CRM) system that is hosted on remote servers and accessible via the internet, allowing users to store, manage, and analyze customer data from any location with an internet connection.
Cloud-based CRM refers to customer relationship management software that is hosted and accessed through the internet, allowing businesses to manage and analyze customer data from anywhere with an internet connection.
Cold calling is the process of reaching out to potential customers or clients who have had no previous interaction with the salesperson or company.
Cold calling is the practice of reaching out to potential customers who have had no prior contact or relationship with the salesperson or company.
Cold Email: An unsolicited email sent to a recipient who has no prior relationship or interaction with the sender, often used in sales prospecting or marketing campaigns.
Cold emailing: Sending unsolicited emails to individuals or businesses without prior contact or relationship, usually for the purpose of initiating a sales or marketing communication.
Collaborative CRM: A customer relationship management strategy that emphasizes collaboration and information sharing among different departments or stakeholders within an organization to enhance customer satisfaction and drive sales growth.
Commerce: The activity of buying and selling goods and services.
Commission: A form of monetary compensation earned by a salesperson based on a percentage of the sales they generate.
Commissions - Financial incentives paid to employees or sales representatives based on the sales volume they generate or the revenue they bring to a company.
Compensation - Monetary or non-monetary rewards provided to employees in exchange for their contributions to the sales performance of a company.
Complex Sale - A type of sale that involves multiple decision-makers, an extended sales cycle, and custom solutions tailored to the specific needs of the customer.
Complex sales: A sales process that involves multiple decision-makers, longer sales cycles, and intricate product or service offerings.
The compounded annual growth rate (CAGR) is the rate at which an investment grows over a specific period of time, taking into account the effects of compounding.
Consideration: The value exchanged between parties in a sales transaction, typically in the form of money, goods, or services. It is an important element of the agreement that demonstrates the mutual understanding and commitment of both the buyer and seller.
Consultative sales is a approach to selling that involves understanding and addressing a customer's needs and providing them with personalized solutions.
Consumer: An individual or organization who purchases goods or services for personal or business use.
Consumer: A person or entity that purchases goods or services for their own personal use or consumption.
A consumer packaged goods sales representative is a professional who sells products to retailers on behalf of the consumer packaged goods company.
Contact: A person or organization with whom a salesperson or business interacts, typically in relation to potential sales or business opportunities.
Content: Information, data, or material that is created and shared in various forms, such as articles, blog posts, videos, or social media updates, with the purpose of attracting and engaging an audience to drive sales and promote a brand or product.
Contract management is the process of overseeing and maintaining the lifecycle of a contract, including its creation, execution, and expiration.
Conversion: The process of turning a prospect into a paying customer or successfully convincing them to take a desired action.
Conversion: The act of turning a prospect or lead into a paying customer or making a successful sale.
Conversion path: The sequence of steps or actions that a prospect or customer takes to complete a desired goal, such as making a purchase, subscribing to a newsletter, or filling out a form.
Conversion path: The sequence of actions that a prospect takes from their initial interaction with a company or product to becoming a paying customer or completing a desired action.
Conversion rate: The percentage of potential customers who take a desired action, such as making a purchase or subscribing to a service, out of the total number of individuals who were exposed to the offer or opportunity.
Conversion rate: The percentage of potential customers who take a desired action, such as making a purchase or completing a specified goal, out of the total number of individuals who were exposed to a particular marketing strategy or campaign.
Cost of Goods Sold (COGS): The direct costs incurred in producing or purchasing the goods sold by a company. It includes the cost of materials, labor, and other directly attributable expenses. COGS is an important measure in determining a company's profitability.
Cost-per-click (CPC): The amount of money a company pays for each click on its online advertisement.
Cost per click (CPC) is the amount of money paid by an advertiser for each click on their online advertisement.
Cost Per Impression (CPI): The cost incurred for each instance of an advertisement or promotional message being displayed to a viewer or potential customer.
Covenant: A binding agreement or promise made between two parties, often specifying the terms and conditions of a business transaction or relationship.
CPQ software is a tool that stands for Configure, Price, and Quote. It helps businesses streamline the sales process by automating the creation of accurate and customized quotes for customers.
Critical Questions: Key inquiries that sales professionals ask in order to fully understand a customer's needs, pain points, and potential objections. These questions are crucial for gathering relevant information and tailoring the sales approach to address the customer's specific requirements.
CRM analytics refers to the process of analyzing customer relationship management data to gain insights and make informed business decisions.
Cross-selling is the practice of offering additional products or services to a customer who is already making a purchase.
Cross-selling: A sales strategy where a customer is encouraged to purchase additional products or services that complement their original purchase.
Current Customer - A person or business entity who has previously made a purchase or actively uses the products or services offered by a company.
Current Customer Referrals: The act of existing customers recommending a company or its products/services to individuals or businesses within their network.
Current Customer Upselling: The practice of offering additional or upgraded products or services to existing customers to increase their overall purchase value.
Customer: A person or entity that purchases goods or services from a business.
Customer acquisition cost (CAC): The total cost incurred by a company to acquire a new customer.
Customer lifetime value (CLV): A metric that represents the predicted net profit a business can expect to gain from a customer over the duration of their relationship with the business.
Customer need: A requirement or desire that a customer has for a product or service that is intended to satisfy a problem or fulfill a specific purpose or benefit.
CRM is a strategy that helps businesses manage and nurture their relationships with customers.
CRM systems: Software applications that help businesses manage and organize customer interactions, data, and relationships.
Customer success refers to the ongoing process of ensuring that customers achieve their desired outcomes and find value in the products or services they have purchased.
Customer success manager: A professional responsible for ensuring customer satisfaction and retention by understanding their needs, guiding them in utilizing products or services effectively, and facilitating their overall success.
Cycle of Sales: The process from identifying a potential customer to closing a sale, including all the steps in between.
Dark: Refers to an environment where limited or no visibility exists, typically characterized by lack of light or information.
Data: Information or facts that are collected, stored, and used for analysis or reference.
Data entry is the process of inputting information into a computer system.
Data-entry: The process of inputting or recording information into a computer system or database.
Data Entry / Processing: The act of inputting and manipulating information in a system, typically done through keyboard or scanning techniques.
Data-Mining: The process of analyzing and extracting valuable information or patterns from large sets of data.
Day Sales Outstanding (DSO) is a financial metric that indicates the average number of days it takes for a company to collect payment from its customers after a sale has been made.
Day sales outstanding (DSO) refers to the average number of days it takes for a company to collect payment from its customers for goods or services sold.
Days to Term Sheet: The number of days it takes for a sales transaction to progress from initial contact or negotiation to the formal agreement known as the term sheet.
Deal Closing: The final stage of a sales process where the agreement between the buyer and seller is solidified and the transaction is completed.
Deal-Flow: The movement or flow of potential sales deals or opportunities through a sales pipeline or process.
Money owed by one party to another.
Decision: A choice or conclusion reached after considering various options or alternatives.
The decision maker refers to an individual or group with the authority and responsibility to make final decisions related to the purchase of a product or service.
Decision-maker: An individual or group responsible for making final choices and determinations within a sales process.
Dedupe: A process of identifying and removing duplicate data entries.
De-Dupe: The process of removing duplicate or redundant data from a database or system.
Deferred revenue refers to the income received by a company in advance for goods or services that have not yet been delivered or rendered.
The act of persuading or convincing potential customers to purchase a product or service.
Deliverables: Tangible or intangible items that are produced, provided, or completed as part of a sales agreement or project.
Demand generation refers to the process of creating and stimulating interest for a product or service in order to generate sales leads.
Demo: A demonstration or presentation showcasing the features and functionality of a product or service.
Demo Goals: The specific objectives or targets that a salesperson aims to achieve during a product demonstration to potential customers.
Demographics: Statistical data that describes a specific population or target audience, including characteristics such as age, gender, income, education level, and geographic location.
Demo Ratio: The ratio that represents the number of product demonstrations conducted by a sales representative compared to the total number of sales opportunities.
DevOps is a software development approach that combines development and operations teams to enhance collaboration and streamline the software delivery process.
Dialer: A software or device that automatically dials phone numbers in order to connect sales representatives with potential customers.
Direct Mail: A marketing technique that involves sending promotional materials, such as letters, postcards, or brochures, directly to potential customers via traditional mail.
A Director of Sales is a high-level executive who is responsible for overseeing and managing the sales team and strategies within an organization.
Direct Response Marketing: A marketing strategy that prompts immediate action and encourages customers to directly engage with a business through a specific response, such as making a purchase, requesting information, or signing up for a service.
Direct sales: The process of selling products or services directly to customers, bypassing any intermediaries or third-party retailers.
Direct salesperson: A sales representative who directly interacts with customers, promoting and selling products or services without the involvement of intermediaries or third parties.
Discount: A reduction in price or cost.
Discounted cash flow is a financial valuation method used to estimate the value of an investment by calculating the present value of its future cash flows.
Discovery: The process of identifying and understanding customer needs, challenges, and requirements in order to determine the best solution or offering to meet their specific needs.
A discovery call is an initial conversation between a salesperson and a potential customer to understand their needs, pain points, and explore if there is a fit for the salesperson's product or service.
DOA Customer: A customer who receives defective or damaged goods upon product delivery.
Doing Business As (DBA): A term used to refer to the practice of operating a business under a name that is different from the legal name of the owner or entity.
Dollar Per Customer: The average amount of money spent by each individual customer.
Dollar Per Sale: The average amount of money generated from each individual sale.
Double Trigger: A provision typically found in an employment contract or equity plan that requires two distinct triggering events to occur before a certain benefit, such as accelerated vesting of equity awards, is granted or triggered.
Drag-Along Rights: A provision that allows majority shareholders to force minority shareholders to sell their shares in the event of a sale of the company or a significant transaction.
Draw: A specified advance payment given to a salesperson against future commissions or earnings.
Draw on Sales Commission: An advance payment given to a salesperson against their future earnings from commission sales.
Drip Campaign: an automated marketing strategy that involves sending a series of scheduled, pre-written emails or messages to prospects or customers over a period of time.
Drive-By: A quick and brief visit to a location, often involving observing or assessing it without stopping.
Earnings multipliers: A financial ratio used to determine the value of a company based on its earnings.
EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization. A measure of a company's profitability that takes into account its operating income without considering non-operating expenses.
E-Commerce: The buying and selling of goods and services over the internet.
e-Commerce sales refers to the process of selling products or services online, typically through a website or online platform.
EOQ is the optimal quantity of inventory that minimizes total ordering and holding costs.
Emotional Sale: A type of sale where buying decisions are largely influenced by the customer's emotions and feelings rather than logical reasoning and practical considerations.
Employee Engagement: The level of emotional commitment and dedication that an employee has towards their work and the organization they work for.
Enablement: The process of equipping sales teams with the necessary resources, tools, and training to effectively engage and support customers throughout the sales process.
Engagement: The act of interacting or showing interest in a product or service.
Enrichment: The process of enhancing or improving something, typically by adding additional value or meaningful information.
Enterprise: A business organization that is typically large in scale with multiple departments or divisions, and is engaged in commercial activities to generate profits.
ERP stands for Enterprise resource planning. It is a software system used to integrate and manage various aspects of a company's operations and resources, such as finance, human resources, and inventory.
Enterprise sales refers to the process of selling products or services to large organizations or enterprises.
Enterprise sales representative: A professional who is responsible for selling products or services to large businesses or organizations, focusing on building and maintaining long-term relationships with key stakeholders.
Entrepreneur in Residence (EIR): A temporary position where an experienced entrepreneur works closely with a startup or venture capital firm to provide guidance, mentorship, and strategic direction.
EOM stands for End of Month.
EOQ: Acronym for Economic Order Quantity, which is the optimal order quantity that minimizes total inventory costs.
EOY stands for "End of Year," referring to the last day or period of a calendar year.
An equipment sales specialist is an individual who specializes in selling equipment.
Equity: The ownership or interest in an asset or property after deducting any debt obligations.
Escalations: The process of raising an issue or concern to a higher level of authority or management for resolution.
FAB stands for Features, Advantages, and Benefits. It is a sales technique used to highlight the distinctive features of a product or service, its advantages over competitors, and the benefits it offers to potential customers.
Fair market value (FMV) refers to the price at which a buyer and seller would voluntarily agree to exchange goods or services in a competitive and open market, without any undue influence or pressure.
Fair Market Value (FMV) refers to the objective and unbiased valuation of an asset or property, based on what a knowledgeable, willing, and unpressured buyer would pay, and a knowledgeable, willing, and unpressured seller would accept, in a transaction.
Feature: A distinct characteristic or attribute of a product or service that sets it apart from others and provides value or utility to customers.
Field Day: A designated period of time during which sales representatives are allowed to visit prospective customers outside of the office environment in order to promote and sell products or services.
Field sales refers to the sales approach where sales representatives engage with customers in person, typically outside of the company's premises.
Field sales rep: A sales representative who travels to meet with potential clients or customers in person, outside of the office environment.
Financial services sales agent: A professional who sells various financial products and services to clients, such as insurance policies, investment plans, and banking products.
Firmographic: A set of demographic characteristics and attributes that describe a company or organization, such as industry, company size, and location.
Fiscal Year: A 12-month period used for financial reporting and budgeting purposes by organizations, not necessarily aligned with the calendar year.
Flywheel: A mechanical device used to store rotational kinetic energy. In sales, the flywheel represents the principle of using existing customer experiences and satisfaction to generate momentum and drive future sales growth.
Footprint: The geographical presence or market coverage of a business, including physical locations, distribution networks, and customer base.
Forecasting: Predicting future sales or business trends based on historical data and market analysis.
Fortune 500: An annual list of the top 500 largest companies in the United States, ranked by total revenue.
Forward Revenue: The expected or projected revenue that a company anticipates generating in future periods, usually based on existing contracts or expected sales.
Four Stages of Learning: The process individuals go through when acquiring new knowledge or skills, which includes the stages of unconscious incompetence, conscious incompetence, conscious competence, and unconscious competence.
Funnel: A visual representation of the customer journey, from initial awareness to final purchase, illustrating the gradual reduction in the number of potential customers at each stage.
Future earning prospects refer to the potential income or revenue that an individual or organization is expected to generate in the future.
Gatekeeper: A person, typically an administrative assistant, who controls access to decision-making individuals or departments within an organization.
The General Manager is the overall leader and highest-ranking individual responsible for the management and operation of a business or organization.
Global Business Unit: A division or department within a company that operates and conducts business activities on a global scale.
Goal Card - A written document that outlines specific sales targets and objectives to be achieved within a given period of time.
The Goal-D Card Incentive Program is a sales program that provides rewards and incentives to salespeople based on their achievement of pre-set sales goals.
Go-To-Market Strategy: A plan that outlines how a company will bring its products or services to market by identifying target customers, determining distribution channels, and setting marketing strategies.
GPCTBA/C&I: Acronym that stands for "Goals, Plans, Challenges, Timeline, Budget, Authority / Consequences and Implications." It is a framework used in sales to assess and understand the key aspects of a potential customer's readiness and willingness to make a purchase.
GPCTBA/C&I lead qualification - The systematic process of evaluating potential leads based on their Goals, Plans, Challenges, Timeline, Budget, Authority, and Consequences and Impact factors to determine their suitability for sales conversion.
Gross Margin: The difference between revenue and the cost of goods sold.
Hard sell: An aggressive sales approach that uses persuasive tactics and strong sales techniques to convince and push customers into making a purchase.
Head Buyer: The individual or role within a company responsible for making decisions regarding the purchase of goods or services from suppliers.
Historic CLV stands for Historic Customer Lifetime Value. It refers to the total value of a customer to a business over the entire duration of their relationship.
Horizontal: A term used to describe a business strategy where a company expands its product offerings or enters new market segments that are similar or complementary to its existing products or markets.
Ideal customer profile: A detailed description of the type of customer that a business aims to target and serve, based on key characteristics such as demographics, buying behavior, and specific needs and preferences.
Ideal Customer Profile (ICP): A detailed description of the characteristics and qualities that define a company's ideal customer, including demographics, behavior patterns, and purchasing preferences.
Inbound: Refers to the process of attracting and engaging potential customers through various marketing efforts to initiate contact with the organization.
Inbound Sales: The approach of attracting and engaging potential customers by proactively addressing their needs and interests through various marketing efforts and channels.
Independent Software Vendor (ISV): A company that develops software applications for sale to end-users or other businesses, independently of a larger software company.
Infrastructure as a Service (IaaS): A cloud computing service that provides virtualized computing resources, such as servers, storage, and networking, over the internet.
An Initial Public Offering (IPO) is the first sale of a company's shares to the public.
InMail Messages: Private messages sent through a professional networking platform, such as LinkedIn, to initiate conversations or communicate with potential prospects or contacts.
Inside sales rep: An sales representative who conducts sales activities remotely, typically from an office, rather than in person at a customer's location.
Inside sales representative: A sales professional who primarily conducts sales activities remotely, typically through phone calls, emails, and virtual meetings, instead of meeting clients in person.
Insurance sales agent: a professional who sells insurance policies to individuals or businesses on behalf of insurance companies.
Intellectual Sale: A type of sales approach that focuses on communication and knowledge-sharing, emphasizing the value of intellectual understanding and expertise to influence a customer's purchasing decision.
Interactive voice recording (IVR) systems: Technology that allows users to interact with automated voice prompts and menus using spoken commands or touch-tone keypad entries.
IVR Systems: Interactive Voice Response systems, commonly referred to as IVR systems, are automated telephony systems that use pre-recorded voice prompts and keypad input to provide information and process transactions over the phone.
Key Accounts: Refers to a select group of customers or clients who contribute significantly to a company's revenue and strategic business goals. These accounts are given special attention and are typically handled by a dedicated sales team or account manager.
Key performance indicators (KPIs) - Metrics used to measure and evaluate the performance and success of sales efforts.
Kickers: In sales, kickers refer to additional incentives or bonuses offered to salespeople for achieving specific performance targets or objectives.
Knowledge base: A centralized repository of information and insights that serves as a valuable resource for sales teams, providing them with easy access to important knowledge, processes, and best practices.
Land and Expand: A sales strategy in which a company initially secures a small customer base and gradually expands its product or service offerings to existing customers, with the goal of increasing revenue and market share over time.
Law of Averages: A statistical principle that states that over a large enough sample size, the outcomes will tend to converge toward the expected average.
Law of Compensation: The principle that states individuals are compensated in proportion to the value they bring to their work or their contributions.
Lead: A potential customer or contact who has shown interest in a product or service and is considered a potential sales opportunity.
A lead development and generation specialist is someone who focuses on identifying and cultivating potential customers for a business.
Lead generation is the process of identifying and attracting potential customers, also known as leads, for a business's products or services.
The process of collecting, organizing, and nurturing potential customers or leads to maximize sales opportunities.
Lead Nurturing: The process of building relationships with potential customers by providing valuable and relevant information to guide them through the buyer's journey.
Lead qualification: The process of determining the potential value and suitability of a lead to determine if they are likely to become a customer.
Leads - Potential customers who have expressed interest in a product or service offered by a business.
Lead scoring is a method of assessing and ranking potential customers based on their interest and likelihood of making a purchase.
Liability refers to the legal obligation or responsibility one has towards something, such as a debt, loan, or the potential for financial loss.
Lifetime Value (LTV): The total predicted revenue a customer is expected to generate over the duration of their relationship with a business.
LTV:CAC is a financial metric that compares the lifetime value of a customer to the cost of acquiring that customer.
Liquidation value: The estimated value of an asset or business when it is sold quickly, typically below market value, in order to settle outstanding debts or financial obligations.
Loss Aversion - A psychological bias where people prefer to avoid losses rather than acquiring equivalent gains.
Losses - Financial outcomes resulting in a decrease in profit or negative financial impact.
Loss Leader: A product or service that is sold at a price lower than its cost, with the intention of attracting customers and generating secondary sales or profits.
LTV: CAC stands for Lifetime Value vs Customer Acquisition. It is a comparison between the lifetime value of a customer and the cost of acquiring that customer. The LTV:CAC ratio helps businesses measure the profitability of their customer base in relation to the cost of acquiring new customers.
Machine Learning: A branch of artificial intelligence that enables computers to learn and make decisions without explicit programming.
A Manufacturer's sales representative is an individual or company that acts as a sales agent for a manufacturer, promoting and selling their products to customers on behalf of the manufacturer.
Margin: The difference between the selling price of a product or service and its associated cost or production expenses.
Market capitalization: The total value of a company's outstanding shares of stock, calculated by multiplying the current market price per share by the total number of shares outstanding.
Marketing is the process of promoting and selling products or services to customers.
Marketing Qualified Lead: A potential customer who has shown interest in a product or service, and has been assessed by the marketing department as having the potential to become a paying customer.
Marketing qualified lead (MQL): A potential customer who has been identified as having a higher likelihood of becoming a customer based on their engagement with marketing efforts.
Marketing-qualified lead (MQL) - A potential customer who has expressed enough interest or shown enough engagement to be considered a viable prospect for the marketing team to follow up with.
Marketing Qualified Leads (MQLs) - Leads that have been assessed by the marketing team and are deemed likely to become customers based on their engagement with marketing efforts.
Markup: The amount added to the cost of a product or service to determine its selling price.
Mark-up: The amount added to the cost price of a product or service to determine its selling price.
A Master Services Agreement (MSA) is a contract that establishes the terms and conditions of a business relationship between two parties for a set of services to be provided over a specific period of time.
Medical device sales representative: A professional responsible for selling medical devices to healthcare providers, such as hospitals and clinics. Their role involves building relationships with potential customers, presenting product features and benefits, and facilitating the sale of medical devices.
Messaging refers to the act of conveying information or communicating a message, often through written or oral means, to convey a certain meaning or objective. It is a critical element in sales to effectively communicate with customers or prospects.
Metrics: Quantitative measurements used to track and evaluate performance, often used in sales to assess various aspects of sales activities and outcomes.
Middle of the Funnel: The stage in the sales process where leads have shown interest and are being further nurtured and qualified to become potential customers.
Middle of the funnel (MOFU): The stage in the sales funnel where prospects have shown interest and are nurtured to become more qualified leads, moving closer towards making a purchase.
Mid-market: Referring to a segment of businesses with moderate sizes, typically within a specific revenue or employee range, falling between small businesses and large enterprises.
Minimum Viable Product (MVP): A development strategy where a product with minimal features is released to gather feedback and validate market demand.
Mirroring: the act of reflecting or imitating someone's behavior, mannerisms, or speech patterns in order to establish rapport and create a sense of connection.
Monday Morning Meeting: A regularly scheduled gathering of a sales team at the beginning of the workweek to discuss goals, objectives, strategies, and updates related to sales activities and performance.
Monthly Recurring Revenue (MRR): The total revenue generated from monthly subscriptions or recurring charges paid by customers on an ongoing basis.
Monthly recurring revenue (MRR): The total amount of revenue generated from predictable and recurring monthly sales.
Name Based Rapport refers to the establishment of a positive connection with a customer by using their name in conversations and interactions.
Name Dropping: The act of mentioning or referring to the names of influential or well-known individuals in order to gain credibility or elicit a favorable impression.
Natural Language Processing (NLP): Technology that enables computers to understand, interpret, and respond to human language in a natural manner.
Needs Assessment: A process of identifying and evaluating the requirements or desires of a customer to determine their specific needs.
Negotiation: The process of reaching a mutually satisfactory agreement through discussions between two or more parties.
Net asset score refers to a numerical measurement that assesses the value of an individual's assets after subtracting liabilities.
Net Asset Value (NAV) - The value of an entity's assets minus its liabilities, calculated as the per share value.
Net New Business refers to the total amount of new business gained by a company after subtracting any lost business or cancellations.
Net promoter score: A metric that measures customer loyalty and satisfaction based on the likelihood of customers recommending a company, product, or service to others.
Net Promoter Score (NPS): A metric used to measure customer loyalty based on the likelihood of customers recommending a company or product to others.
Net Promoter Score (NPS) is a metric used to measure customer loyalty and satisfaction based on their likelihood of recommending a company, product, or service to others.
Networking: The act of establishing and nurturing professional relationships to expand one's social and business contacts.
Net X: Refers to a payment arrangement where payment is expected within a specified number of days after the invoice date, with no additional fees or discounts offered for early payment.
New Customer: A person or entity who has recently started conducting business or making purchases with a company for the first time.
Non-Sales-Related-Activities (NSAs) - Any tasks or actions that are not directly related to the sales process.
Objection: A disagreement or resistance expressed by a potential customer towards a product, service, or the sales process.
Off-Schedule: Refers to an action or occurrence that deviates from the planned or predetermined schedule.
Onboarding: The process of integrating and familiarizing new employees with an organization's policies, procedures, and culture.
On-premise CRM refers to a customer relationship management software that is installed and operated on company's own servers and computers rather than being hosted on a cloud-based platform.
On-target earnings (OTE) refers to the total compensation a salesperson can expect to earn based on achieving their performance targets and goals. OTE typically includes both a fixed salary component and variable commissions or bonuses.
On Track Earnings/On Target Earnings (OTE): The projected or expected income that a salesperson can potentially earn based on meeting their sales targets and performance goals.
Open Accounts: Accounts that have not been settled or paid in full, allowing for ongoing transactions between the buyer and seller.
Operational CRM refers to the use of technology and systems to manage customer data, interactions, and sales processes in order to effectively execute sales strategies and improve overall customer satisfaction.
Opportunity: A potential business prospect or chance to sell a product or service.
Opportunity management refers to the process of identifying, evaluating, and prioritizing potential sales opportunities to maximize revenue generation.
Optimization - The process of making something as effective or efficient as possible.
Organization: A structured entity with the purpose of achieving specific goals through coordinated efforts and effective resource management.
Org Structure: The hierarchical arrangement of individuals and departments within an organization, depicting reporting relationships and the flow of authority.
Outbound Sales: The act of proactively reaching out to potential customers or clients to introduce products or services and generate sales leads.
Outside sales representative: A salesperson who primarily meets with clients and prospects outside of the office, typically traveling to various locations to promote and sell products or services.
Overcoming Objections: The process of addressing and resolving concerns or hesitations raised by prospects during a sales conversation.
Package Sale: A sales strategy that involves selling multiple products or services together as a bundled package to customers.
Pain Point: A specific problem or challenge that a potential customer is experiencing, which creates a need or desire for a solution.
Partner ownership refers to a situation where two or more individuals or entities jointly possess and have control over a business or organization.
Past Customer: A customer who has previously purchased goods or services from a business.
Patron: A customer or client who regularly purchases products or services from a business.
Payment: The act of exchanging money or any other form of value in return for a product or service.
Performance Plan: A structured and measurable outline of goals, targets, and expectations for an individual or team that outlines the desired level of performance and sets the parameters for evaluation and feedback.
Perpetuity: An ongoing and indefinite duration without a predetermined end.
Pipeline: A visual representation or numerical record of all potential sales opportunities a company is currently pursuing.
Pipe-Line: In sales, the term "pipeline" refers to the collection of potential deals or prospects that a salesperson or team is actively working on. It represents the various stages of the sales process, from initial contact to closing the deal.
Pipeline management: The process of monitoring and managing a sales pipeline, including tracking and analyzing leads, opportunities, and deals at different stages of the sales cycle.
A pitch is a concise and persuasive presentation that aims to sell a product, service, or idea to a potential buyer.
Platform as a Service (PaaS): A cloud computing service that provides a platform for developers to build, deploy, and manage applications without the need to manage the underlying infrastructure.
Plays: Actions, strategies, or maneuvers implemented by sales representatives to engage potential customers and influence their decision-making process.
Point of Contact: The person or entity that serves as the primary connection or contact point for a specific interaction or communication.
Positioning statement: A concise statement that defines how a company or product differentiates itself from competitors and appeals to its target audience.
Predictive Analysis: The process of using historical data and statistical models to make predictions about future outcomes.
Predictive CLV, or Predictive Customer Lifetime Value, refers to the estimated value a customer is expected to generate over the course of their relationship with a company, based on predictive analytics models.
A presentation is a structured communication method used to convey information, ideas, or proposals to an audience.
Presidents Club: A prestigious recognition program that honors high-performing individuals or teams in sales who have achieved exceptional results and surpassed predetermined targets.
Pressure Sales Words: Certain words or phrases used in sales communications that are designed to create a sense of urgency or persuade a potential customer to make a purchase quickly. These words are typically used to entice customers and generate a sense of FOMO (fear of missing out) or the fear of losing a potential deal.
Price-Build-Up: a process of calculating the final selling price by adding up all the associated costs and desired profit margin.
Pricing / Price: The monetary value assigned to a product or service.
Primary Influences: The main factors or variables that have a significant impact on the sales performance or outcomes of a business or individual.
Procrastination Objection: A delay or reluctance expressed by a potential customer in making a purchasing decision.
Procurement: The process of sourcing and acquiring goods, services, or resources for a business or organization.
Product: A tangible or intangible item or service that is offered to customers for purchase or use.
Product Lifecycle Management (PLM): A strategic approach to managing the entire lifecycle of a product, from its initial conception to its eventual retirement, with the goal of maximizing product value and optimizing operational efficiency.
The Product Purchase Cycle refers to the journey that a customer goes through from the awareness of a product, to the decision-making process, and ultimately to the purchase of the product.
A Product Qualified Lead (PQL) is a potential customer who has demonstrated a strong level of interest and engagement with a specific product or service, indicating a higher likelihood of conversion into a paying customer.
Professional Employer Organization (PEO): A company that provides comprehensive human resources services, such as payroll, benefits administration, and HR support, to other businesses.
Profile: A detailed summary or description of a person or entity, including relevant information about their background, characteristics, and preferences.
Profit: The financial gain earned from a business transaction or activity after deducting all costs and expenses.
Profitability - the ability of a business or investment to generate profit or financial gain.
Profit margin: The percentage of revenue that represents the profit earned from a sale or business activity, calculated by dividing the profit by the revenue and multiplying by 100.
Proof of Concept (PoC): A small-scale demonstration or trial to validate the feasibility or viability of a product, idea, or concept before investing significant resources.
Pro-Rata: A method of proportionally distributing something based on a specific formula or ratio.
Pro-Rata Rights: Refers to the rights provided to existing shareholders to maintain their proportional ownership in a company in case of new stock issuances or capital events.
Potential customer who has shown interest in a product or service.
Prospect A: A potential customer who has shown interest in a product or service.
The act of identifying potential customers or clients.
Protected Territory: A specific geographic area designated for exclusive sales representation by a salesperson or team, safeguarded from market competition by other individuals or organizations.
Puppy Dog Close: A sales technique where a potential customer is allowed to try or experience a product or service for a short period of time with the intention of persuading them to make a purchase.
Purchase Order (PO) - A document issued by a buyer to a seller, specifying the details of the goods or services to be purchased.
Push Counter: A sales strategy in which sales representatives proactively approach potential customers by initiating contact and pushing the sales pitch or product information.
Qualified lead: A potential customer who has shown legitimate interest in a product or service and meets pre-established criteria indicating a higher likelihood of conversion.
Determining if a potential customer meets the necessary criteria for making a purchase.
Quarter: A period of three consecutive months, typically used for financial reporting and analysis.
Quota: A predetermined sales target that represents the expected sales volume or revenue within a specific time period.
Ramp Up: The period of time in which a salesperson acquires the necessary skills, knowledge, and experience to reach their full potential and effectiveness in selling a product or service.
Rapport: A harmonious connection or understanding established between two or more individuals, often characterized by mutual trust, empathy, and open communication.
A real estate agent is a professional who assists clients in buying, selling, or renting properties.
Recruiter: A person or entity responsible for identifying, attracting, and selecting qualified individuals for job positions within an organization.
A referral is a recommendation or introduction made by one person to another for potential business or networking opportunities.
Referral Appreciation Gesture: A token of gratitude or expression of thanks offered to individuals who have made successful referrals, thereby contributing to the growth and success of a business.
A regional sales manager is an individual responsible for overseeing the sales operations and activities within a specific geographic region.
Regular: Occurring or happening at fixed intervals or times.
RBM is a strategy focused on cultivating and maintaining strong connections with customers to foster long-term business partnerships.
Request for Information (RFI): A formal solicitation made by a prospective buyer to gather detailed information about product offerings or services from potential vendors or suppliers.
Request for Proposal (RFP): A formal document issued by a buyer to potential suppliers, inviting them to submit their solutions and pricing for a specific project or service.
Request for Quotation (RFQ): A formal document that solicits quotations from suppliers for the procurement of goods or services.
Request for Tender (RFT): A formal document issued by a company or organization to invite qualified suppliers or contractors to submit competitive bids for the provision of goods, services, or projects.
Retail sales associate: A member of a retail team responsible for assisting customers with their purchases and providing product information and assistance in a retail store.
Retention refers to the act of retaining or keeping customers.
Retention Rate - The percentage of customers or clients that a company successfully retains over a specified period of time.
Return on Investment (ROI): A measure used to evaluate the efficiency and profitability of an investment. It represents the ratio of net profit or loss generated by an investment relative to its initial cost.
Revenue: The total amount of money generated from the sales of goods or services during a specific period of time.
Ride-Along: A sales practice where a salesperson accompanies another salesperson or manager to observe and gain firsthand experience in the sales process.
Right of First Refusal (ROFR or RFR): A contractual right that grants a party the option to participate in a transaction before anyone else, typically on the same terms and conditions offered by a third party.
Rule of Reciprocity: A social principle that states individuals feel obligated to return favors or acts of kindness received from others.
SaaS stands for Software as a Service. It refers to a cloud computing model where software applications are hosted and delivered to users over the internet.
SaaS sales stands for Software-as-a-Service sales and refers to the process of selling cloud-based software to customers on a subscription basis.
Sales Acceleration: The process of expediting and increasing the pace at which sales activities are conducted in order to achieve faster and more efficient sales results.
Sales assistant: A person who provides support and assistance to the sales team, often by helping with tasks such as managing customer inquiries, processing sales transactions, and maintaining inventory.
Sales associate: An individual employed by a company to interact with customers, provide information about products or services, and facilitate sales transactions.
Sales Automation: The use of technology and software tools to streamline and automate various sales activities and processes, such as lead management, customer relationship management (CRM), order processing, and reporting.
Sales Bundle: A package or group of related products or services sold together as a single offering.
Sales Calls: Interactions, either in person or via telephone, where sales representatives communicate with potential customers to promote and sell products or services.
Sales Champion: An exceptional sales representative who consistently demonstrates outstanding performance, surpassing sales targets and driving revenue growth for their organization.
Sales coach: A professional who provides guidance, training, and support to salespeople to enhance their skills and overall performance in reaching their sales goals.
Sales Coaching: The process of providing guidance, support, and training to sales professionals to enhance their skills, knowledge, and performance in order to achieve sales goals and improve overall efficiency and effectiveness in sales activities.
Sales Cycle refers to the process of acquiring and nurturing leads, converting them into customers, and completing a sale.
Sales dashboard - A visual representation of sales data and metrics, typically displayed in a single screen or interface, providing real-time insights and performance analysis for sales teams and managers.
Sales Demo: A presentation or demonstration to showcase the features and benefits of a product or service to potential customers, with the aim of persuading them to make a purchase.
Sales Development Rep: An individual responsible for generating leads and qualifying prospects to pass on to the sales team for further engagement, typically through outbound prospecting activities such as cold calling, emailing, and networking.
A sales development representative (SDR) is a member of a sales team whose primary role is to generate and qualify leads for the sales team.
Sales development representative (SDR) - An individual responsible for generating and qualifying leads to help the sales team close deals.
Sales Director: The highest-ranking individual in a sales department who is responsible for developing and implementing strategies to drive sales growth and meet revenue targets.
Sales enablement: The process of providing resources, tools, and information to sales teams to help them effectively engage with and convert customers.
Sales Engineer: A professional who combines technical knowledge with sales expertise to support the sales process by providing technical solutions and guidance to customers or clients.
Sales funnel: A visual representation of the various stages in the sales process, from lead generation to conversion, wherein prospects are guided through each stage towards making a purchase.
Sales Kickoff: A dedicated company-wide event at the beginning of a sales period that serves to align and motivate the sales team for the upcoming sales cycle.
Sales Lead: A potential customer or prospect who has shown interest in a product or service and has the potential to become a paying customer.
Sales Manager: An individual responsible for overseeing and supervising the sales team, setting sales targets, developing sales strategies, and coordinating sales activities to meet organizational goals.
Sales methodology refers to a structured approach or system used by sales professionals to guide and organize their sales process and activities.
Sales Operations refers to the activities and processes within a business that support and streamline the sales function, including sales management, forecasting, order processing, and performance analytics.
Sales operations manager - an individual responsible for overseeing and managing the operational activities and processes involved in the sales department.
Sales Partnerships refers to collaborative relationships formed between two or more entities to achieve mutually beneficial sales objectives.
Sales performance management refers to the process of measuring, analyzing, and optimizing sales efforts to achieve desired outcomes and improve overall sales performance.
Sales performance management refers to the process of effectively managing and improving the performance of sales teams and individuals within an organization.
Sales pipeline: The visual representation of the various stages that a sales opportunity goes through from initial contact with a prospect to successfully closing a deal, including all the activities and strategies employed along the way.
Sales pipeline coverage refers to the extent to which a salesperson's active opportunities or potential deals are being monitored and managed throughout the sales process.
Sales Presentation (or Sales Demo): A structured and persuasive conversation or demonstration used by salespeople to effectively communicate the value and benefits of a product or service to potential customers.
Sales Prevention Department: A fictional term used to humorously refer to a hypothetical department within an organization that unintentionally hinders or obstructs the company's sales efforts.
The sequence of steps and activities followed to lead a potential buyer through the journey of discovering, evaluating, and ultimately purchasing a product or service.
Sales Productivity: The measure of the efficiency and effectiveness of a sales team or individual in generating revenue and achieving sales targets. It is the ratio of sales results achieved to the resources, time, and effort invested in the sales process.
Sales Prospect: A potential customer who has shown interest or has the potential to purchase a product or service.
Sales Prospecting: The process of identifying potential customers or leads through various research methods and techniques in order to initiate sales conversations and uncover new business opportunities.
Sales Qualified Lead (SQL): A prospective customer who has been evaluated and meets the criteria established by the sales team indicating their readiness for engagement and potential to make a purchase.
Sales Related Activities: The various tasks and actions undertaken by individuals or teams within an organization that aim to drive revenue and generate sales. These activities can include prospecting, lead generation, customer outreach, product demonstrations, negotiations, and closure of deals.
Sales Roles: The various positions or responsibilities within a sales organization that define the specific tasks and responsibilities assigned to individuals involved in selling products or services.
Sales script: A pre-planned set of talking points and questions used by sales personnel to guide their conversation with potential customers, with the aim of presenting products or services and closing sales.
Sales Sequence: The step-by-step process followed by sales professionals to guide potential customers through the sales journey, from the initial contact to closing the sale.
Sales support representative: A member of a sales team who provides administrative and operational assistance to sales professionals by handling tasks such as managing customer inquiries, processing orders, and coordinating product information.
Sales Territory: A defined geographic area assigned to a sales representative or team for the purpose of pursuing and managing sales activities within that specific region.
Sales trainee: An individual who is undergoing structured training to develop the necessary skills and knowledge required to be successful in a sales role.
Sales Training: The process of providing education and guidance to individuals involved in the sales process, with the aim of enhancing their sales skills and knowledge.
Sale value: The monetary amount at which a product or service is sold to a customer.
Sandler Training: A sales training and development program that focuses on a systematic approach to selling.
Scalability: The capacity to easily and efficiently accommodate an increasing workload or demand.
Schedules: Organized plans or timetables that outline activities and tasks within a specified timeframe. Habits: Behaviors or actions that are regularly repeated as a result of routine or practice.
Scraping: The act of extracting data or information from a website or a web page using automated tools.
Sealing-Off Objections: The process of effectively addressing and overcoming objections raised by a potential customer, often by providing satisfactory explanations or solutions to their concerns, in order to secure a sale.
Segmentation: The process of dividing a target market into smaller, distinct groups based on similar characteristics or behaviors.
SG&A stands for Selling, General, and Administrative. It is a category in a company's financial statements that includes the costs associated with selling products or services, as well as the general and administrative expenses involved in running the business.
Selling is a numbers game: A sales strategy that emphasizes the importance of making a high volume of sales attempts in order to increase the chances of closing deals and generating more revenue.
Selling the Sizzle: A marketing technique that focuses on highlighting the exciting or appealing aspects of a product or service to capture the attention and interest of potential customers.
Sender Policy Framework (SPF): A method used to authenticate email senders by verifying that the email was sent from an approved server. Domain Keys Identified Mail (DKIM): An email authentication method that uses encryption and digital signatures to ensure the authenticity and integrity of the email message.
Serviceable Available Market (SAM): The portion of the total addressable market (TAM) that a company or business can reasonably target and serve based on factors such as resources, capabilities, and competition.
Serviceable Obtainable Market (SOM): The portion of the total potential market that a company can realistically target and serve.
Service Level Agreement (SLA): A contractual agreement that outlines the level of service a customer can expect from a provider, including performance metrics and consequences for not meeting those metrics.
Service Level Agreement (SLA): A formal agreement that outlines the level of service a customer or client can expect to receive from a provider, including specific metrics and targets.
A Shareholders' Agreement (SHA) is a legally-binding contract that outlines the rights and responsibilities of shareholders in a company.
SPA stands for Share Purchase Agreement. It is a legally binding contract between a buyer and a seller, outlining the terms and conditions of the purchase of shares in a company.
Side Selling: The practice of selling additional products or services to customers during or after a primary sale, typically as a way to increase revenue or enhance customer satisfaction.
Signaling: The act of conveying information or messages through visible actions, gestures, or signals.
Signup Conversion Rate is a metric that measures the percentage of visitors who complete a signup or registration process on a website or platform.
The Signup-to-Paying Conversion Rate is the percentage of customers who sign up for a product or service and then become paying customers.
Siloed: A condition where information or resources are isolated and not easily accessible or shared with other departments or teams within an organization.
Single Sign-On (SSO): A system that allows users to access multiple applications or systems with a single set of login credentials.
Smarketing: The alignment and collaboration between sales and marketing teams to ensure the collective effort towards achieving common goals.
Smile and Dial: A sales technique that involves contacting a large number of potential customers by phone while maintaining a positive and friendly demeanor.
Social selling is the practice of using social media platforms and networks to build relationships, engage with potential customers, and generate sales leads.
Soft sell: A sales technique that focuses on building relationships with prospects and gently persuading them to make a purchase, rather than using aggressive or high-pressure tactics.
Software as a Service (SaaS): A software distribution model in which applications are hosted by a provider and accessed via the internet.
Software Capitalization - The process of treating software development costs as a long-term asset rather than as an immediate expense.
A software sales representative is an individual who is responsible for selling software products or services to customers.
Solution: A resolution or answer to a particular problem or need.
Solution Selling: A sales approach that focuses on understanding a customer's needs and providing tailored solutions to address those needs.
Short and impactful phrase or statement used to convey a memorable message or idea in a concise manner.
Spiff – a special bonus or incentive offered to salespeople as a reward for selling specific products or meeting certain sales targets.
SPIN Selling: A consultative sales methodology that focuses on asking effective questions to uncover an individual's Situation, Problem, Implication, and Need-payoff in order to address their specific needs and provide value.
SQLs: SQLs stands for Sales Qualified Leads. These are leads that have demonstrated a strong interest in a product or service and have shown potential to convert into paying customers.
Stage: A distinct phase within a process, often sequential, that represents a specific milestone or progress point.
Stakeholder: A person or group that has an interest or is affected by the outcome of a sales process or business decision.
Statement of Work (SOW): A formal document that outlines the objectives, deliverables, and scope of work for a project.
Straight-Commission: A sales compensation structure where the salesperson's earnings are solely based on the percentage of sales they generate, without any fixed salary or base pay.
Strategic Investment/Smart Money/Corporate Venture Capital (CVC): Refers to financial funding provided by a company or organization with the intention to gain strategic or long-term benefits beyond financial returns. This investment is typically made by a corporation or established company to support startups or emerging businesses in line with their strategic goals.
Structured Data: Information that is organized and formatted in a predetermined way to ensure consistency and ease of analysis.
Subject Matter Expert (SME): A person with extensive knowledge, expertise, and experience in a specific field or subject area.
The series of activities involved in transforming raw materials into finished products and distributing them to customers.
System of Record (SOR): A designated primary source or database that holds the authoritative and most up-to-date information for a specific aspect of business operations.
Target: The specific goal or objective that a salesperson or sales team aims to achieve within a certain timeframe.
Target market: The specific group of individuals or businesses that a company aims to sell its products or services to, based on demographic, psychographic, and behavioral characteristics.
The process of imposing taxes on individuals or entities to finance government operations and public services.
The technical definition of selling refers to the process in which a salesperson or organization persuades potential customers to purchase their products or services by effectively communicating the value proposition and fulfilling the needs and wants of the customer.
Temperature Questions: Questions asked by salespeople to gauge the interest, readiness, or level of engagement of a prospective customer.
The term "tenor" refers to the duration or length of a sales agreement or contract.
The final cash flow at the end of a project or investment.
Territory: A designated geographical area in which a salesperson has responsibility to sell products or services.
Territory Management: The process of identifying, organizing, and overseeing a designated geographic area or customer base to optimize sales efforts and achieve targets.
Tickets: Documents or electronic records that serve as proof of purchase for goods, services, or events.
Time Bandits: Individuals or activities that distract or consume an excessive amount of time, resulting in reduced productivity or efficiency.
Time Kills All Deals: An expression used in sales to emphasize the importance of acting promptly in closing a deal, as delays or postponements tend to decrease the likelihood of successful completion.
Times revenue method: A valuation method that determines the worth of a company by multiplying its annual revenue by a certain factor.
Tire-Kicker: A potential customer who shows little intention of making a purchase and is primarily interested in browsing or wasting the salesperson's time.
Top-Level Domain (TLD): The highest level in the hierarchical Domain Name System (DNS) that indicates the type or purpose of a website's domain.
Top of the funnel (TOFU): The initial stage in the sales process where potential customers are identified and engaged.
Total Addressable Market (TAM): The total market demand for a particular product or service, typically expressed in terms of revenue potential.
Total Available Market refers to the entire potential market for a specific product or service within a given industry or geographic region.
Total Value to Paid In (TVPI): A financial metric used in private equity investments to compare the total value received by investors to the amount of capital they have contributed.
Touches: The number of times a sales representative makes contact with a prospect or customer during a given period.
Trade-Shows: Events where businesses showcase their products and services to potential customers and partners.
The initial period during which an employee receives instruction and guidance to learn the necessary skills and knowledge for their job in sales.
Tranches: Refers to the different classes or portions of a financial instrument or investment that have varying levels of risk or return associated with them.
Triggers (noun): Events or activities that initiate a specific sales action or follow-up.
Turn-Over Rate: The rate at which employees leave a company and are replaced by new hires.
Unicorn: In the context of sales, a unicorn refers to a startup company valued at over $1 billion.
USP stands for Unique Selling Point/Proposition. It refers to a distinctive feature or characteristic of a product or service that sets it apart from competitors and makes it appealing to customers.
Unit Economics: A financial measure that evaluates the profitability of a single unit or transaction within a business.
Up and to the Right: A phrase often used in sales to describe positive growth or progress in terms of sales revenue or performance. It signifies an upward and forward trajectory in sales results.
Upsell: The practice of persuading a customer to purchase a higher-priced product or service than they originally intended.
Upselling - The practice of persuading a customer to purchase a more expensive or additional product or service than originally intended.
User: A person who interacts with a product or service, typically through the use of technology or software, in order to access its features, perform specific functions, or achieve desired outcomes.
User Experience (UX) refers to the overall experience that users have while interacting with a product, service, or system.
UI stands for User Interface. It refers to the means through which a user interacts with a computer system or software application.
Valuation - The process of determining the monetary worth or estimated value of a product, service, or company.
The series of activities that a company undertakes to create and deliver a product or service to customers, resulting in the value received by the customer.
The value proposition refers to the unique set of benefits and value that a product or service offers to customers, which differentiates it from competitors and attracts customers to purchase or avail of it.
Value Statement: A concise and clear statement that communicates the unique benefits and value that a product or service offers to customers.
Value Triangle: A framework that illustrates the relationship between three key elements in a sales transaction: cost, quality, and customer satisfaction.
Vertical: Refers to the specific industry or market segment that a business or product is focused on.
A Virtual Machine (VM) is a software emulation of a computer system, allowing multiple operating systems or application environments to run on a single physical hardware platform.
Vital Sales Stats are crucial and essential sales-related data that provide insights into the performance, trends, and outcomes of a sales team or individual. These statistics help evaluate and monitor key sales metrics for informed decision-making and strategy development.
VP of sales: An executive level position responsible for overseeing and managing the sales operations of a company.
Warm Call: A sales call made to a potential customer who has shown previous interest or engagement with the product or service being offered.
Warm calling: A sales strategy that involves contacting potential customers who have previously shown some level of interest or engagement with the company's products or services.
Warm E-Mail - A personalized email that is targeted towards a specific recipient, typically someone who has shown initial interest in a product or service.
Warrant: A legal document that grants the holder the right, but not the obligation, to buy or sell a specific asset at a predetermined price and time.
Weighted Pipeline: The projected value of all potential deals in the sales pipeline, adjusted to reflect the probability and likelihood of closing each deal.
Weighted sales pipeline: A quantified representation of potential sales opportunities in a sales pipeline, taking into account the probability of closing each opportunity.
Whale (or White Whale): A term commonly used in sales to refer to a potential customer or client who has a high level of buying power and represents a significant opportunity for sales revenue or business growth.
White Hat: a term used to describe ethical and legal practices in sales, marketing, or hacking, which focus on creating positive outcomes and strictly adhere to rules and regulations.
White Label: A product or service that is produced or provided by one company but is sold under another company's brand name.
Wireframes: Visual blueprints or skeletal representations that outline the basic structure, layout, and functionality of a website or application.
A yearly sales report is a document that tracks and summarizes the sales performance of a business over a period of one year.
Zeroed Out - When the quantity or balance of a particular product or item has been reduced to zero, indicating that there are no remaining units or stock available.
Customer care agent: A person responsible for providing assistance and support to customers, addressing their inquiries, resolving their issues, and ensuring a positive customer experience.