Sales Development Terms 1 Flashcards
Account
Contains all the records of customer interactions, including contact information, preferred services, and transactions with your business. An account is created after the first time a customer buys from your business.
Account Executive/AE/Closer
A sales team member in charge of closing deals by converting qualified leads into paying customers.
Account Manager/AM/Farmer
A sales team member in charge of managing and up-selling existing clients and accounts.
Annual Recurring Revenue (ARR)
The amount of money a customer pays you every year on a subscription model.
Annual Contract Value (ACV)
The average annualized revenue per customer contract.
Account-Based Selling
A strategy where the entire company coordinates to pursue high-value accounts.
Business Development Representative
A sales specialist focused on finding new prospects, establishing foundational relationships, and updating the sales pipeline with new leads.
Business Unit
A group of people representing a specific department or product within a company.
Buyer Persona
A representation of the ideal customer for your business.
Buying Signal
A verbal or nonverbal cue that shows a customer is ready to make a purchase.
Champion
A prospect within a company that wants to purchase your product or service and is willing to do everything they can to help convince the others in the company to make the purchase.
Channel Partner
A person or company that offers products or services on behalf of another company.
Channel Sales
Focusing on different sales channels, such as in-house sales team, retailers, referrals, dealers, etc.
Churn
The percentage of clients that leave or stop using your products or services within a certain time period.
Clients
People your account manager should take care of.
