Sales Development Terms 2

Question 1

Customer Acquisition Cost (CAC)

Answer 1

The cost of acquiring new paying clients.

Question 2

Customer Lifetime Value (CLV)

Answer 2

The total lifetime value of one client in terms of the revenue they’ll bring in before they churn. Also known as lifetime value (LTV).

Question 3

Customer Relationship Management (CRM)

Answer 3

A software or Internet-based service that helps business owners and sales professionals manage their sales pipeline, track prospects and related activities throughout the sales cycle.

Question 4

Decision Maker

Answer 4

The person in charge of making the purchasing decision at a company.

Question 5

Fortune 500

Answer 5

A list of 500 of the largest companies in the US based on revenue.

Question 6

Gatekeeper

Answer 6

The person who answers the corporate phone and decides if you can talk to the decision-maker or not.

Question 7

Ideal Customer Profile (ICP)

Answer 7

A profile of an ideal client for your business.

Question 8

Inbound

Answer 8

Interest that comes in (response to cold emails, submitted forms, etc.)

Question 9

Inbound Sales

Answer 9

Sales that happen as a result of customers directly approaching and engaging with the brand/company.

Question 10

Lead

Answer 10

Someone who is a potential fit to purchase your product or service.

Question 11

Lead Generation

Answer 11

All of the activities that have a goal of generating interest around a product or a service through different methods (i.e. content marketing, PPC, referrals, outbound marketing, and partnerships).

Question 12

Lead Nurturing

Answer 12

Engaging and building a long-term relationship with existing prospects.

Question 13

Lead Qualification

Answer 13

A process of qualifying if a lead is a good fit to purchase your product or service.

Question 14

Influencer

Answer 14

Someone who has a strong influence over the purchase of a product or service, but isn’t the final decision-maker.

Question 15

Marketing Qualified Lead (MQL)

Answer 15

A lead that will most likely become a paying client, based on what pages the lead visited, what action they took on the company website, and other online engagement.

Question 16

Monthly Recurring Revenue (MRR)

Answer 16

The amount of regular and predictable income a company expects to receive every month.

Question 17

Onboarding

Answer 17

A set of actions or a process of introducing a new client to a product or service. Setting up an account and introducing the client with their point of contact at the company.

Question 18

Opportunity

Answer 18

A qualified lead that is a good fit for your solution. An SDR has qualified this person as someone who has the need and ability to purchase.

Question 19

Outbound Sales

Answer 19

Cold calling, cold emailing and social selling, with the goal of initiating contacts with a prospective client and ultimately closing the deal.

Question 20

Point of Contact

Answer 20

A person or a department within a company that the client can reach out to with questions or specific requests.

Question 21

Profit Margin

Answer 21

A ratio of profitability that reveals how much money a company actually makes. It is the amount by which revenue from sales exceeds costs. To calculate profit margin, divide your gross profit (revenue-cost of goods sold) by revenue.

Question 22

Prospects

Answer 22

A list of names and contact information in some type of list, database, or CRM.