sales terms

Question 1

Upselling

Answer 1

a tactic in which a rep tries to encourage a prospect to buy a higher-end version of the initial product they were interested in

Question 2

OOO

Answer 2

Out of Office, smn is not available

Question 3

CRM

Answer 3

Customer Relationship Management, managing a company’s relationships and interactions with current and potential customers

Question 4

CTA

Answer 4

call to action - buy now! download now!

Question 5

Cross-Selling

Answer 5

Selling additional, complementary products or services to existing customers

Question 6

Email Sequence

Answer 6

email series
- pre-scheduled
- automated
- sent to subscribers or prospects

Purpose – to NURTURE leads, BUILD relationships, GUIDE recipients through the sales funnel

Question 7

B2B

Answer 7

Business-to-Business, companies provide goods or services to other companies

Question 8

B2C

Answer 8

Business-to-Consumer, companies sell goods or services directly to end-users for personal use

Question 9

KPIs

Answer 9

Key Performance Indicators, Metrics used to evaluate the success of sales activities
- sales revenue,
- number of new leads,
- average deal size.

Question 10

ICP

Answer 10

Ideal Customer Profile,
- detailed description of the type of customer
- WHO would benefit the most from a company’s product

a type of company that would be your ideal customer

Question 11

Outbound Marketing

Answer 11

business initiates the conversation

Question 12

Pipeline

Answer 12

visual representation of where prospects are in the sales process

stages your deal goes through
focuses** on the set of **actions** taken **by sellers

Question 13

Inbound Marketing

Answer 13

attracting customers through content

Question 14

BP

Answer 14

Buyer Person, semi-fictional representation of a company’s ICP based on market research and real data(!) about existing customers

stand for different people that buy from you

Question 15

Conversion Rate

Answer 15

% of leads –> customers

Question 16

MQL

Answer 16

Marketing Qualified Lead, qualified based on engagement with marketing materials

Question 17

Lead Generation

Answer 17

process of attracting and converting strangers and prospects into someone who has indicated interest in a company’s product

Question 18

Funnel \ /

Answer 18

model that illustrates the journey from prospect to customer
- awareness
- interest
- decision
- action

focuses on the steps taken to move your prospect from attention to buying
represents the quantity and conversion rates of prospects through your pipeline stages

Question 19

Prospect

Answer 19

lead –> qualified as a potential customer

Question 20

Value Proposition

Answer 20

unique value a product or service provides to customers

HOW ARE WE SPECIAL

Question 21

SQL

Answer 21

Sales Qualified Lead
- has been vetted by the sales team
- ready for the next stage in the sales process

Question 22

FYI

Answer 22

For Your Information

Question 23

Lead

Answer 23

A potential customer, shown interest (!) in product