170 Sales Terms From A – Z: The Updated Glossary of B2B Sales Definitions

November 15, 2017 Max Altschuler

With the rise of AI, new sales technology and automation at the forefront of the sales echo chamber these days, we thought we’d take a moment to bring it back to BASICS – that’s why we’ve rounded up this complete glossary of sales terms and definitions to help you remember where it all started.

This practical sales glossary is meant for anyone in sales who needs to refresh their memory on the most commonly used sales terms – especially new reps who are still learning the playing field.

We’d also recommend this guide for any sales managers or business development leaders who are on-boarding new reps. This sales glossary is meant to reduce ramp time for new reps that are getting immersed in B2B sales jargon for the first time.

A

  • AB Testing
  • Account
  • Account-Based Everything / Revenue
  • Account-Based Marketing
  • Account-Based Selling / Sales Development
  • Account Development Representative
  • Account Executive
  • Accounts Payable
  • Accounts Receivable
  • Accredited Investor
  • Amortization
  • Analytics
  • Annual Recurring Revenue
  • Application Program Interface
  • Applicant Tracking System
  • Artificial Intelligence
  • Average Contract Value
  • Average Sale/Selling Price

AB Testing (or Split Testing) is an experiment involving two variants, usually for measuring and comparing market response to each. For example, you can measure visitor traffic or conversion rate on two different web pages having similar content and purpose.

Account refers to a record of primary and background information about an individual or corporate customer, including contact data, preferred services, and transactions with your company.  

Account-based Everything (ABE) or Account-based Revenue (ABR) is a framework that entails full coordination of customized care and management of targeted customer accounts across all relevant units of your organization (such as marketing, sales, finance, and product development) as well as the entire customer life cycle from lead generation to after-sales support.

Account Based Marketing (ABM) is a strategic framework that engages qualified individual prospects or customer accounts as unique markets in themselves, worthy of focused, hyper-personalized treatment by sales, marketing and other teams.    

Account Based Selling (ABS) or Account Based Sales Development (ABSD) is a primarily B2B selling framework that treats qualified or high value accounts as unique markets in themselves, where each account deserves dedicated resource allocation as well as hyper-personalized and multi-point engagement with different teams from your organization.

An account development representative (ADR) is a sales specialist focusing on attracting, qualifying and securing new leads for further engagement, conversion and nurturing by account executives.

An account executive (AE) is a sales specialist who has primary responsibility for one or more customer accounts (called a portfolio), commonly tasked not only to nurture and grow the company’s relationships with said accounts but sometimes also to convert qualified leads into paying customers.

Accounts Payable refers to an accounting entry denoting the amount of short-term monetary obligation your company owes its suppliers, vendors and other service providers.

Accounts Receivable refers to the amount of money yet to be collected from your customers who purchased a product or subscribed to a service.

Accredited Investor – Legally, $200k+/yr (or 300 w/ spouse) take-home or 1M+ assets.

Amortizationpaying off debt on a fixed schedule or spreading a write-down over time.

Analytics is the active study of different types of data with the aim of discovering meaningful patterns and translating these into insight (such as historical analyses and forecasts), or action (such as those intended to improve business performance).   

Annual Recurring Revenue (ARR) is the value of contracted, often subscription-based revenues normalized for one calendar year.

Application Program Interface (API) is an accessible technical framework for exchanging data.

Applicant Tracking System (ATS) is a giant fancy excel chart used to follow hiring.

Artificial Intelligence (AI) refers to a system of computers, software, machines and processes that simulate certain aspects of human intelligence such as image perception, voice recognition and reasoning.

Average Contract Value (ACV) is the average revenue you derive from a single customer in a given period. It is called Annual Contract Value (ACV) when annualized and Average Purchase Value (APV) when the revenue derived is not subscription-based.

Average Sale/Selling Price (ASP) is a term that may refer to the average price of a product in a given market or channel or the price a certain class of products or services is commonly sold for.

  • B2B
  • B2C
  • B2C2B
  • Base Salary
  • Baseline
  • BASHO Email
  • Bonus
  • Bookings
  • Business Intelligence
  • Business Development Representative
  • Buyer
  • Buying Intent

B2B is an acronym for Business-to-Business, a model for selling, relationship-building or engagement.  

B2C is an acronym for Business-to-Consumer, a model for selling, relationship-building or engagement.  

B2C2B is an acronym for Business-to-Consumer-to-Business, a model for selling, relationship-building or engagement.

Base Salary refers to an agreed-upon amount of payment an employee received as compensation for work rendered.

Baseline refers to a minimum level or starting point from which further measurements or comparisons can be made for analyses, forecasting, performance improvement or strategy formulation.  

BASHO Email is a customer engagement sequence using voicemail and email messaging aimed at increase the likelihood of a positive response from prospects.

A bonus is a gift or additional compensation given on top of the standard pay or fee, often serving as a reward for outstanding performance or for achieving certain business targets.

Bookings are the net new contracts signed, in dollar amounts (typically ACV or TCV).

Business Intelligence (BI) refers to the interpretation of (primarily internal) data to inform product and market decisions.

A business development representative (BDR) or sales development representative (SDR) is a sales specialist focusing on finding new prospects, establishing foundational relationships, and refreshing the sales pipeline with new leads for account executives.

A buyer is an individual or organizational entity that purchases a product or subscribes to a service.

Buying Intent refers to the apparent likelihood of a person or organization of purchasing a product or service as inferred from behavior such as online browsing, media consumption, document downloads, event participation.

C

  • Call for Proposal
  • Challenger Sales Model
  • Champion/Challenger Test
  • Channel Partner
  • Channel Sales
  • Churn
  • C-Level / C-Suite
  • Clawback
  • Click Through Rate (CTR)
  • Client
  • Closed Won
  • Cold Call
  • Cold Email
  • Commission
  • Compensation
  • Complex Sale
  • Compounded Annual Growth Rate
  • Content
  • Content Management System
  • Conversion
  • Cost of Goods Sold (COGS)
  • Cost per Click (CPC)
  • Cost per Impression (CPI)
  • Covenant
  • Customer
  • Customer Acquisition Cost (CAC)
  • Customer Relationship Management
  • Customer Success

Call for Proposal (also: RFP is similar) is the process by which a company asks for something to be sold to them. Competitors usually compete to win the client’s business.

Challenger Sales Model is a sales framework that takes the disruptive approach to solution selling, where customers are pushed beyond their comfort zones to embrace new ideas for their business. It alludes to the Challenger, one of five sales representative profiles as classified by CEB (now Gartner). The five profiles are Challenger, Hard Worker, Lone Wolf, Problem Solver and Relationship Builder.

Champion/Challenger Test is a testing approach for determining the best engagement strategy for a given market segment, wherein the Champion represents your current production/servicing paradigm while the Challenger(s) represent new or different ways of doing things.

Channel Partner is a person or organization that offers services or products on behalf of another entity, mostly via a co-branding agreement.

Channel Sales is a method of classifying and deploying your sales force into groups focusing on different distribution channels such as in-house sellers, retailers, dealers, and direct marketers.

Churn is a term that describes the percentage of customers that leave or cancel a service or product within a given period of time.

C-Level or C-Suite Executives (CxOs) are usually listed as Chief Executive Officer (CEO), Chief Technology Officer (CTO), Chief Marketing Officer (CMO), Chief Financial Officer (CFO).

Clawback means contractual provision or an action involving an employer or benefactor taking back money already released to an employee or beneficiary.

Click Through Rate (CTR) is typically expressed as a percentage and refers to the number of clicks on a link (usually an ad) divided by the number of times the page containing the link is shown.

A client is an entity who pays another entity for products purchased or services rendered. Also called a customer.

Closed Won is the status of an opportunity where the deal has been closed with the prospect/lead who is now considered a customer.

Cold Call is an attempt to engage a prospect (via a personal visit or a voice call) who have no prior knowledge about or contact with the salesperson making the call.

Cold Email is the use of email to engage a prospect who have no prior knowledge about or contact with the salesperson sending the email.

Commission is the amount of money a sales professional earns for reaching a specific sales volume or for executing one or more business transactions.  

Compensation is the total payment and benefits an employee receives for rendering work — covering basic salary, allowances, commissions, bonuses, health insurance, pension plans, paid leaves, stock options, and other benefits.

Complex Sale is a type of sale common in B2B markets involving multiple decision makers, custom service or purchase agreements, and relatively longer sales cycles.

Compounded Annual Growth Rate (CAGR) is the measure of growth over different time periods. Consider it the growth rate that gets you from the initial investment value to the ending investment value – e.g. we grew 72% CAGR (not the same value as YoY).

Content refers to a material or document released in various forms (such as text, image, audio, and video) and created to inform, engage or influence specific audiences.  

Content Management System (CMS) is a computer program or software application used to create, modify, store and manage digital content.

Conversion is the process of turning a target consumer into a paying customer; or more generally, the point at which a user performs a specific action favorable to a marketer or a seller.

Cost of Goods Sold (COGS) relates to the incremental cost of producing one good (e.g. one subscription.)

Cost Per Click (CPC) is an advertising metric by which advertisers pay a bidding fee based on the number of people who click their ads. Commonly used in Google Adwords and Facebook Ads.

Cost Per Impression (CPI) is an advertising metric by which advertisers pay a bidding fee based on the number of eyeballs that are exposed to their ads. Commonly used in Google Adwords and Facebook Ads.

Covenant is a formal written promise stating that certain activities will or will not be carried out. Restrictive covenants include NDAs and non-compete agreements.

Customer is an individual or an organization that purchases a product or signs up for a service offered by a business.

Customer Acquisition Cost (CAC) is the cost that is required to acquire a new paying customer for a product or service.

Customer Relationship Management (CRM) is a system, set of practices, and associated technologies used to record, manage and analyze customer data and interactions, with the aim of improving customer engagement and revenue.

Customer Success is a proactive mindset, function, department or strategy commonly adopted by B2B companies to optimize business with customers, reduce churn rate, drive profits and increase the predictability of recurring revenue.

D

  • Dark
  • Data
  • Deal Closing
  • Decision Maker
  • De-dupe
  • Demand Generation
  • Dialer
  • Direct Mail
  • Direct Sales
  • Discount
  • Discovery

Dark is a description for the state wherein a prospect have become unresponsive to calls, invitations, emails and other attempts at engagement (e.g., Mr.Brown has gone dark.)

Data is a set of quantitative and qualitative facts that can be used as reference or inputs for computations, analyses, descriptions, predictions, reasoning and planning.   

Deal Closing (or Closing a Deal) is the process of completing a sales transaction wherein the prospect agrees to purchase a product or sign up for a service.

Decision Maker in the context of sales, is a person who possesses the required expertise and authority in making purchase decisions.

De-dupe (de-duplicate) is the process of eliminating duplicate data such as records, accounts, contact details and other information,

Demand Generation is a marketing process that aims to build awareness and excitement about a company’s products and services, often used by businesses to promote new offerings or feature sets, reach new markets, generate consumer buzz and drive customer loyalty.

Dialer is a computer software, application or electronic device that automates the process of making phone calls.

Direct Mail is a communication channel where newsletters, catalogs, brochures, and other documents are sent via traditional postal services (such as the US Postal Service) that physically deliver parcels (also called snail mail).

Direct Sales is the method of selling a product or service in a location other than the associated retail stores or offices, wherein the seller personally engages a prospect in a physical or face-to-face environment such as a home or a cafe.

Discount means a promotional reduction in the cost of a product or service, commonly deployed to speed up sales.

A discovery call (might be used interchangeably with a sales call) is a crucial engagement with a prospect — usually a meeting or a call — wherein the seller can start building rapport, set the tone for the relationship and gain deeper insight about the prospect’s challenges.

E

  • E-Commerce
  • Employee Engagement
  • Engagement
  • Enrichment
  • Enterprise
  • EOM
  • EOQ
  • EOY
  • Equity

E-Commerce is a field, platform, or environment where the buying and selling of goods and services are transacted online.

Employee Engagement is the state, level, or process of building employee commitment to an organization, reflected in how much they strive to improve the company’s image, well-being and profitability.  

Engagement is the state or process of keeping a specific class of audience (employees, management, customers, etc.) interested about a company or brand and invested in its success because of its perceived relevance and benefits to the audience.  

Enrichment means the act or process of upgrading the value or improving the quality of something (such as a product, service or function) that induces the target beneficiary (customers, employees, etc.) to have a better experience, or derive a deeper meaning, connection and attachment to the product or function.

Enterprise (in the context of sales) is a relatively large organization typically composed of multiple levels, locations, and departments which need multi-layer software systems that support collaboration across a large corporate environment.

EOM is an acronym for End of Month.

EOQ is an acronym for End of Quarter.

EOY is an acronym for End of Year.

Equity means a common stock, preferred share or other forms of security that represent ownership interest in a company.  

F

  • Firmographic
  • Fiscal Year
  • Forecasting
  • Fortune 500

Firmographic is a set of descriptive attributes of prospective organizational customers that can be used to classify firms into relevant or applicable market segments.   

Fiscal Year is a financial accounting period of one year (that may or may not coincide with the calendar year), which is used by governments and businesses for taxation, budget planning, performance assessment, strategy formulation and other purposes.

Forecasting is a prediction or calculation of a trend or event likely to occur in the future based on qualitative, quantitative and historical data as well as emergent but relevant factors.

Fortune 500 is a listing of the 500 largest companies in the United States based on revenue, compiled and published yearly by Fortune magazine.

G

  • Gatekeeper
  • General Manager
  • Global Business Unit
  • Go-to-Market Strategy

Gatekeeper is a person (e.g., an executive secretary), application (e.g., a subscription or authentication interface) or other entities that control access to a person or object with a desired attribute such as a premium feature in case of a software service, or the ability to make purchase decisions in case of a corporate executive.

General Manager is an executive with varying levels of importance and range of responsibilities depending on corporate structure, but who generally leads a company unit or a branch, overseeing its performance, profitability and daily operations.  

Global Business Unit (GBU) is a semi-autonomous component of a multinational corporation that focuses on a specific industry vertical or a specific set of functions, products or services, operating on a global scale.

Go-to-market (GTM) strategy or Go-to-market plan refers to a plan, set of actions or road map that a company formulates with the aim of optimizing marketing and sales resources to establish the value of a new (or re-branded) product or service for consumers and achieve competitive advantage, using methods such as advertising, distribution, pricing, direct sales and social media engagement.  

I

  • Ideal Customer Profile
  • Inbound Sales
  • Initial Public Offering
  • InMail Messages

Ideal Customer Profile (ICP) refers to a type or class of customer who possesses all the desirable attributes (such as gender, age, location, financial capacity, lifestyle, brand affinity, etc.) that increase the possibility of an opt-in or a purchase, (your perfect type of client).

Inbound Sales is a process, method or transaction wherein purchases occur as a result of customers directly approaching, engaging and embracing your brand, achieved by focusing on their needs and strategically leading them to your solution.  

Initial Public Offering (IPO) refers to the sale of stock issued by a private company and offered to the public for the very first time.

InMail Messages are introductory email that are sent to another LinkedIn member you’re currently not connected with.

K

  • Kickers
  • Key Accounts

Kickers are monetary bonuses or extra commissions offered to motivate sales professionals to exceed quota, showcase a specific service or product, or target a particular market segment.  

Key Accounts are whale spenders or VIP customers prioritized by sales reps and customer success; churn from these clients would be a detrimental loss to the company’s revenue.

L

  • Lead
  • Lead Generation
  • Lead Nurturing
  • Lead Qualification
  • Lead Scoring
  • LinkedIn
  • Low-Hanging Fruit

Lead refers to a prospect or potential customer (who can be an individual or organization) that exhibits interest in your service or product; or any additional information about such entity.   

Lead Generation is a set of activities aimed at generating interest around a product or service through methods such as 1. content marketing (blogging, podcasts, free downloads); 2. advertising (PPC, banner ads, Yellow Pages, sponsoring an event); 3. referrals (recommendations from existing customers and other people); 4. outbound marketing (cold email, cold calling), and 5. partnerships (joint ventures, affiliate marketing).

Lead Nurturing refers to the process of engaging and building long-term relationships with prospective customers through different marketing techniques that develop their preference for your product and services.

Lead Qualification is the process of determining whether a potential customer has the characteristics of your company’s ideal client (such as sufficient purchasing ability and a higher likelihood of buying your product).

Lead Scoring is the process of assigning a relative value to each lead based on different criteria, with the aim of ranking leads in terms of engagement priority.

LinkedIn is a social network for the business community.

Low-Hanging Fruit refers to a class of prospective consumers or a market segment that requires the least level of effort to turn into paying customers.

M

  • Machine Learning
  • Marketing
  • Marketing Qualified Lead
  • Messaging
  • Metrics
  • Mid-market
  • Monthly Recurring Revenue

Machine Learning is an aspect or type of artificial intelligence whereby a computer possesses the ability to learn various things by itself without explicitly being programmed to.   

Marketing is the field, set of actions, or practice of making a product or service desirable to a target consumer segment, with the ultimate aim of effecting a purchase.

Marketing Qualified Lead (MQL) is a type of lead that has been evaluated — based on a given set of criteria — to have a higher likelihood of becoming a paying customer compared to other leads.

Messaging is the process of communicating your brand’s value proposition, the benefits you offer, and the perceived meaning of such communication among your target audience.

Metrics are quantities that are measured and used to:

  • Assess a set of attributes such as a company’s profitability.
  • Determine cost efficiency or an individual’s job performance.
  • Implement corrections or remedial actions.
  • Make accurate revenue forecasts.
  • Formulate departmental or corporate strategies.   

Mid-Market is a classification of business organizations in terms of scale (revenue, number of employees, etc.), occupying the segment between the small companies and large multinational enterprises serving the same market.  

Monthly Recurring Revenue (MRR) is the amount of reasonably regular and predictable income a company expects to receive every month, typically used in rental and subscription-based businesses. The formula for calculating MRR = ARR divided by 12.

N

  • Needs Assessment
  • Negotiation
  • Net New Business

Needs Assessment is a process for analyzing a system, person, function or organization with the aim of determining what the entity lacks to achieve a desired state or outcome, usually involving the identification and classification of specific needs according to their level of importance.    

Negotiation is a strategic dialogue, discussion, or bargaining process between two or more parties with the goal of reaching a mutually acceptable agreement.

Net New Business is a prospect that you have newly converted into a paying customer or an existing account that has been dormant for a long period but has been re-engaged and reactivated as a revenue-generating account.

O

  • Objection
  • Onboarding
  • Opportunity
  • Optimization
  • Org Structure
  • Organization
  • Outbound Sales

Objection refers to a position, statement or view of a prospect which indicates reservation about or disagreement with a particular aspect or the entirety of your sales pitch, lessening the likelihood of a purchase.      

Onboarding is the process or act of introducing a new customer to your product or service; or integrating a newly hired employee into your workforce or team.

Opportunity (also SQL, Sales Qualified Lead) is a lead that has been determined to have a higher likelihood of opting in, subscribing or making a purchase based on a set of criteria.

Optimization is the process or act of altering a system, design, or procedure such that it 1) attains full functionality or efficiency, or 2) generates maximum output, benefit, or impact.

Org Structure is a system by which the hierarchy, lines of authority, and interrelationships of teams, roles, responsibilities, and functions in an organization are defined.

Organization is a cohesive group of people working together and formally bound by a shared identity (e.g., one team, company, club, etc.) and a common purpose (e.g., business growth, athletic victory, etc.).

Outbound Sales refers to a process where the seller directly initiates contact with a prospect customer with the aim of closing a deal down the line using methods such as cold calling, cold emails and direct outreach on social media.

P

  • Plays
  • Point of Contact
  • Predictive Analysis
  • Pricing/Price
  • Procurement
  • Product
  • Product Qualified Lead
  • Profitability
  • Push Counter

Plays is an engagement strategy, set of actions, series of tactical steps, or an agreed upon selling approach developed to be repeatable and customized to deliver the highest likelihood of closing a deal with a specific group of prospective customers during a set period.

Point of Contact (POC) is the person or unit representing an entity, typically tasked to facilitate decision-making and coordinate the flow of information to and from the entity.   

Predictive Analytics refers to the field or tool that uses historical data, statistical models, emergent trends and other information to formulate an informed forecast about the future, usually with regards to the performance, growth, or feasibility of a business.  

Pricing/Price is the amount of money needed in order to purchase the service or product

Procurement is the process of finding and acquiring goods and services, usually involving demand assessment, bid reviews, approval requests and transaction logging.

Product refers to anything (an idea, item, service, process or information) that meets a need or a desire and offered to a market, usually but not always at a price.

Product Qualified Lead (PQL) is a potential customer who meets a set of predefined criteria and have used a benchmark product(s), indicating a relatively higher likelihood of making a purchase.

Profitability is the potential, degree, metric, ability or relative efficiency of a business to yield financial gain (i.e., profits) after all relevant expenses and costs have been deducted.

Push Counter is a dashboard tracker used in some CRM’s such as Salesforce to monitor the frequency at which closing an opportunity is being pushed/postponed from period to period.

Q

  • Quarter
  • Quota

Quarter is a three-month period in a company’s fiscal year commonly used to make comparative performance analyses, detect or forecast business trends, report earnings, and pay shareholder dividends.

Quota is a predefined benchmark indicating the amount of sales a selling unit such as a sales rep or a regional sales team should achieve within a given period, often used as a measure of success, performance and eligibility for commissions and other rewards.  

R

  • Recruiter
  • Referral
  • Return on Investment
  • Revenue
  • RFP
  • Rule of Reciprocity

Recruiter is a person or agency whose primary purpose is to find, assess, hire and onboard people as employees in a company or as members of an organization.   

Referral means the act, process, or technique of generating sales leads wherein a third party shares information about a new prospect.

Return on Investment (ROI) is a metric — commonly expressed as a percentage — that indicates the efficiency or profitability of an investment, computed by dividing the benefit (return) by the cost of investment.  

Revenue is the amount of money a business generates during a specific period such as a year or a quarter; also called sales.   

RFP is an acronym for Request for Proposal.

Rule of Reciprocity is a sociological rule that compels a person to treat others positively with the expectation that the person will be treated the same way.

S

  • SaaS
  • Sales Acceleration
  • Sales Automation
  • Sales Cadence
  • Sales Champion
  • Sales Coaching
  • Sales Cycle
  • Sales Demo
  • Sales Development Representative
  • Sales Director
  • Sales Enablement
  • Sales Funnel
  • Sales Lead
  • Sales Manager
  • Sales Operations
  • Sales Partnerships
  • Sales Pipeline
  • Sales Process
  • Sales Productivity
  • Sales Prospect
  • Sales Prospecting
  • Sales Qualified Lead
  • Sales Training
  • Salesforce Administrator
  • Sandler Training
  • Segmentation
  • Signaling
  • Small and Mid-Size Business
  • Smarketing
  • Social Selling
  • Solution
  • Solution Selling
  • SPIN Selling
  • Stakeholder

SaaS is an acronym for Software as a Service.

Sales Acceleration is the act or practice of speeding up the sales process using tools and technologies that improve the productivity and efficiency of sales professionals.

Sales Automation is the act, practice or technique of using software to simplify, speed up or streamline the entire sales process or specific component activities such as customer tracking, forecasting, and inventory monitoring.

Sales Cadence is the established sequence of activities (such as voice calls and emails) and the frequency at which your sales team engages a prospect or an account, as guided by data analytics.

Sales Champion is a prospect with influence and authority who also deeply understands and likes your product to the point of advocating for its adoption and success.  

Sales Coaching is the process of helping sales professionals improve their performance, efficiency, and impact largely through behavioral changes and the development of new skills.

Sales Cycle is a repeating process characterized by a predictable sequence of stages that a company undergoes as it sells its products and services to customers.

Sales Demo is the act or process of showing the functions, benefits and value of a product or service as it relates to a particular audience, with the aim of leading the audience towards a purchase.

Sales Development Representative (SDR) or Business Development Representative (BDR) is a sales specialist focusing on finding new prospects, establishing foundational relationships, and refreshing the sales pipeline with new leads for account executives.

Sales Director is a senior-level executive who oversees an organization’s sales operations by 1) leading the formulation and execution of strategies, plans and policies for national or international sales 2) proposing and rationalizing departmental budgets; 3) supervising regional sales managers; and 4) ensuring continuous sales growth for the company.

Sales Enablement is a strategic process that provides a company’s sales professionals with tools, technology, training and other resources that improve their performance at customer engagement and at generating value for all stakeholders in the sales process.

Sales Funnel is a visualization of the sales process that defines the stages through which prospective customers go through as they are led by sales professionals towards a purchasing decision.  

Sales Lead is a potential consumer of your company’s product or service who have 1) expressed interest about your offerings, and 2) shared contact information.

Sales Manager is an executive who leads a sales unit, team or department by setting goals and meeting targets, formulating plans and policies, designating tasks, and developing salespeople.

Sales Operations is a collection of aligned business processes, strategic implementations and other activities aimed at achieving organizational goals, specially in the areas of sales revenue, market coverage and growth.

Sales Partnerships is a formal collaboration between individuals or organizations aimed at bolstering the sales performance of a product or service for mutual benefit.

Sales Pipeline is a type of visualization showing the status of each sales prospect in the customer life cycle or sales process.  

Sales Process is a series of strategic steps or a set of activities aimed at driving sales growth through the alignment of personnel, market insight, methodologies, relevant business units, and technology.  

Sales Productivity is a metric that indicates how efficient a sales unit is at closing sales and generating revenue for the company, based on sales volume, payroll expenses, level of personnel activity and other factors.

Sales Prospect is a potential consumer of your product or service who meets a given set of benchmarks; typically a sales lead whose financial capacity, buying authority and willingness to purchase are found sufficient enough to qualify and be upgraded in the sales funnel as a prospect.

Sales Prospecting is the process of finding, building and qualifying a pool of potential buyers or clients through networking, cold calling, advertising and other engagement methods.

Sales Qualified Lead (SQL) is a potential customer that has already met the criteria for MQL and has further shown a higher likelihood of opting in or making a purchase. SQLs are flagged by sales development representatives and forwarded to quota-driven Account Executives (AE) for closing-level engagements.

Sales Training is the process of improving the skills, behavior and mindset of sales professionals to upgrade their selling performance.  

Salesforce Administrator refers to an individual — usually a team leader or manager — tasked to maintain high employee productivity and engagement through technology, process improvements and other methods; also a person tasked to operate and maintain the Salesforce CRM. 

Sandler Training is an organization that trains professionals around the world on sales performance, management, and leadership.

Segmentation is the process of subdividing a large market into distinct partitions (or segments) based on demographics and other factors, with the aim of formulating and implementing separate strategies to better engage the consumers in each segment.

Signaling is a process in which a consumer conveys readiness to purchase your product or service as indicated by “signals” or triggers such as willingness to sign up, participation in events, asking questions about your solutions, etc.

Small & Mid-Size Business (SMB) is a business organization that straddles the middle of the scale between an office/home office (SOHO) and large enterprises, having varying number of employees and revenue level depending on location. In some classifications, a small business has fewer than 100 employees while a mid-sized business has 100-999 workers.

Smarketing is the process of closely aligning the sales and marketing operations of a business, with the aim of increasing revenues via a shared integrated strategy.   

Social Selling is the deliberate use of online social networks as sales channels, where sellers directly engage and develop relationships with prospects by probing their needs and providing relevant and valuable insight.   

Solution is a combination of ideas, strategies, processes, technologies and services that effectively helps an organization achieve its goals or hurdle its challenges.

Solution Selling is a sales approach commonly adopted in a B2B environment where the salesperson probes the customer’s problem(s) and develops/proposes a solution using the seller company’s products or services.    

SPIN Selling is an acronym for four types of questions (Situation, Problem, Implication, Need-payoff) a sales professional should ask a prospect to establish a customer-centric selling paradigm and increase closing rate.

Stakeholder is an entity with an interest in a company, process, or product, and which is typically concerned about its wellbeing.

T

  • Target
  • Template
  • Total Available Market
  • Triggers
  • Twitter

Target/Targeting refers to the specific group or subset of potential consumers a company plans to sell its product; or the process involving the strategic identification and engagement of such group.

Template is a generic file with a framework showing the standard sections or features of a specific kind of document, used to create a new document of the same type faster and easier.

Total Available Market (TAM) refers to the total revenue potential for a specific product or service, including its future market imprint.  

Triggers are a set of signals or occurrences that meet certain criteria to be considered an opportunity to make a sale.

Twitter is a free-to-join social network with a micro blogging service that allows the sharing of links, images and videos as well as the publishing of short posts called tweets.

U

  • Up and to the Right
  • User
  • Unicorn

Up and to the right is a description of a good business or sales performance, referring to the portion of a line graph where positive growth over a period of time is usually positioned; also called hockey stick growth.

User means a person who uses or consumes a product or a service, usually a digital device or an online service.

Unicorn is a term used to describe a startup company valued at over $1 Billion.

V

  • Value Proposition
  • Value Triangle
  • Vice President
  • Video Conferencing

Value Proposition is a statement or message that encapsulates the reasons — such as benefits and unique attributes — consumers would want to patronize a brand or purchase a product.

Value Triangle is a concept in sales and marketing that describes the interrelationships of three factors: cost, quality and speed in the determining the value of a product or service.

Vice President (VP) is a senior executive in an organization who heads a specific operation or unit, oversees the  achievement of strategic targets, and reports directly to the company president.

Video Conferencing refers to the technology behind or the act of establishing a visual connection between two or more people positioned in different locations to facilitate remote communication.  

W

  • Warm Call
  • Warm Email

Warm Call is the process or act of calling or visiting a sales prospect with whom the sales professional has had a prior contact such as during an event or via a referral.

Warm Email is the process or act of emailing a sales prospect with whom the sales professional has had a prior contact such as during an event or via a referral.

The post 170 Sales Terms From A – Z: The Updated Glossary of B2B Sales Definitions appeared first on Sales Hacker.

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