sales terms Flashcards
Upselling
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
OOO
Out of Office, smn is not available
CRM
Customer Relationship Management, managing a company’s relationships and interactions with current and potential customers
CTA
call to action - buy now! download now!
Cross-Selling
Selling additional, complementary products or services to existing customers
Email Sequence
email series
- pre-scheduled
- automated
- sent to subscribers or prospects
Purpose – to NURTURE leads, BUILD relationships, GUIDE recipients through the sales funnel
B2B
Business-to-Business, companies provide goods or services to other companies
B2C
Business-to-Consumer, companies sell goods or services directly to end-users for personal use
KPIs
Key Performance Indicators, Metrics used to evaluate the success of sales activities
- sales revenue,
- number of new leads,
- average deal size.
ICP
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
Outbound Marketing
business initiates the conversation
Pipeline
visual representation of where prospects are in the sales process
stages your deal goes through
focuses** on the set of **actions** taken **by sellers
Inbound Marketing
attracting customers through content
BP
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
Conversion Rate
% of leads –> customers
MQL
Marketing Qualified Lead, qualified based on engagement with marketing materials
Lead Generation
process of attracting and converting strangers and prospects into someone who has indicated interest in a company’s product
Funnel \ /
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
Prospect
lead –> qualified as a potential customer
Value Proposition
unique value a product or service provides to customers
HOW ARE WE SPECIAL
SQL
Sales Qualified Lead
- has been vetted by the sales team
- ready for the next stage in the sales process
FYI
For Your Information
Lead
A potential customer, shown interest (!) in product
