This glossary contains in-depth articles explaining sales, marketing, and business concepts and theories. It’s meant to educate and help new professionals navigate the world sales.
A/B testing is a method used to compare two versions (of website landing pages, email copies, ads, etc.) to find out which one is received better by consumers. Here’s how to start A/B testing to improve conversions.
Account development representative (ADR)
An account development representative (ADR) is a member of the sales team responsible for identifying and qualifying new opportunities for the sales organization.
Account-based selling (ABS) is a sales approach of treating the client organization as a market of one. Find out how to set up an effective account-based sales model.
After-sales service is any kind of help or maintenance a seller provides customers after they have purchased a product. Learn what types of after-sales services there are.
AIDA is a highly effective copywriting formula that focuses on a specific consumer, resulting in a more personal and individual approach to raise conversions. Find out more.
Annual sales report
An annual sales report helps analyze the trends that took place in the business’ sales volume over a year and forecast future sales performance. Find out what sales metrics to report on.
B2B (business-to-business) is a transaction type made between businesses. Find out the difference between vertical and horizontal B2B.
B2C, or business-to-consumer, describes business relationships between a company and an individual person (consumer or customer). Here’s everything you need to know about B2C.
Bad leads are prospects who have a low probability of buying from a company. Here’s how to deal with bad leads.
BANT is a marketing qualification approach that lets sales reps determine whether a lead is a good fit based based on their Budget, Authority, Needs, and Timeline. Here are BANT examples.
Base salary is a fixed sum of money that an employer pays to employees in exchange for their accomplished work. Find out how companies determine base salary.
A baseline is an attributed value of everything outside of your marketing efforts, including all costs, sales, or other variables that would have happened anyway.
A BASHO email is a type of a highly personalized cold email usually addressed to decision-makers with an aim of getting the first call or meeting with them. Find out how to write an effective BASHO email.
Bottom of the funnel (BOFU)
The bottom of the funnel (BOFU) is the last stage in the buyer’s journey when a lead makes a purchasing decision. Here are BOFU content examples.
A brag book is a collection of testimonials and case studies from satisfied customers. It can also be a work portfolio that develops your credibility with the interviewer. Here’s what to include in it.
Business development representative (BDR)
A business development representative (BDR) is a member of the sales team whose duty is drawing new business opportunities to the company.
Business email is the main way of communication with chief executives, customers, sponsors, suppliers, and partners. Find out what a proper business email format is.
Business process automation
Business process automation is a set of algorithms and software a company uses to automate repetitive tasks. Check out the best software to automate business processes.
A business proposal is a document that describes how a company’s products or services can satisfy a client’s needs. Learn how to create a business proposal.
Buyer behavior refers to the actions people take to purchase products and services. Find out buyer behavior types and patterns.
A buyer persona is a profile of your ideal customer based on the real data of your existing customers and market research. Here are some examples of buyer persona types you want to know.
Buying intent, also known as purchasing intent, is the probability, the degree of willingness and inclination of consumers to buy a product or service. Here’s how to define it for your business.
A buying signal is an action indicating an opportunity for a sales representative to make contact with a prospect. Find out examples of buying signals.
Call to action (CTA)
Call to action (CTA) is a statement intended to persuade visitors to perform a certain action. Here’s how you can write an effective CTA.
A sales call-back is a prospect’s call you expect to get after leaving a voicemail message. Find out effective voicemail script techniques for getting a sales call-back.
Challenger sales model
The Challenger sales model focuses on teaching, tailoring and taking control of a sales experience. How do you apply the challenger’s approach?
Channel sales are a sales model that presupposes distributing your product or service to the market through third parties. Find out channel sales pros and cons.
A chatbot is a program that simulates a human-like conversation with a user. Here are the best chat widgets for websites and Facebook.
Churn rate is the percentage of subscribers who end their subscription to a service within a given time frame. Here’s how to calculate churn rate and reduce high churn.
A clawback means that funds previously assigned to an employee must be returned to an employer. Here are examples of clawback provisions.
Click-through rate (CTR)
Click-through rate, also known as CTR, is the ratio of clicks on a specific link to the number of total users who view a page. Find out how to calculate CTR.
Closing ratio, or a close rate, is a measure of your sales team’s efficiency. It shows the proportion of closed sales to the number of all sales efforts. Find out ways how to improve closing ratio.
Cold calls are unsolicited sales calls to prospects who don’t know the company. Here’s how to cold call effectively.
A cold email is an initial email you send to a potential customer without prior contact. Here’s how to create an effective cold email.
Conversion is an action that moves a potential customer along the sales funnel. There are many types of conversions — find out how to track and calculate them.
Conversion rate is the formula for determining the ratio of sales or conversions per visitor. It can also refer to any action made by visitors. Find out how to calculate an average conversion rate.
Conversion rate optimization
Conversion rate optimization is the process of improving the percentage of visitors to your website that convert (aka the conversion rate). We’ve collected a list of CRO tips and tools. Read on.
Cost per click (CPC)
Cost per click, also known as CPC and PPC, is a web marketing method used to draw target traffic to web pages. Find out how to calculate CPC and its types in this guide.
Cost per impression (CPM)
Cost per impression (CPM) is the cost one will pay for each thousand ad impressions. Find out how to calculate CPM.
Sales critical questions are open-ended questions sales reps commonly use during cold calls to make a better contact and build trust with potential customers. Here are critical questions examples.
A customer database is a collection of information that includes lead contact details like a person’s name, phone numbers, email addresses, etc. Learn how it can help you boost business operations.
Customer lifetime value
CLV (customer lifetime value) is the revenue a business receives from a customer over the length of the customer/business relationship. Here’s how to calculate it.
Customer loyalty is preferring one company’s services or goods over its competitors when making purchases. Find out how to build customer loyalty.
Customer management leads to higher loyalty and increased revenues. Learn about what customer management is and how to successfully implement it within your company.
Customer relationship management (CRM)
Customer relationship management (CRM) is a technology for managing all business relationships and interactions with existing and potential clients. Here are CRM examples.
Decision-makers are people within a company who have the power to make financial decisions. Here’s how to identify, approach, and befriend decision-makers.
Deferred revenue is payment that the company gets in advance for the goods and services not yet delivered or provided. Here are tips for deferred revenue accounting.
A demo is a trial version or sample of a digital product. It’s usually spread among users who might be interested in trying the product before buying it. Here are sales demo types.
Direct selling is the selling of products in a non-retail setting, for example, at home, online, or other venues that are not a store. Here are direct selling types.
A discovery call is the first call sales reps make after connecting with a client. Here are examples of discovery call questions.
A drip campaign, or drip marketing, is using a series of pre-planned, automated emails to clients and prospects to encourage interaction and sales. Here are the examples.
The concept of e-commerce is simple – it’s the commercial transaction made online. However, there are many types of e-commerce. Here are the most common ones.
Email automation helps companies reach more recipients with more relevant content. Learn about how to set up automated emailing and what email marketing automation software to use.
An email blacklist is a database of domains and IP addresses blocked as suspected of spamming. Its purpose is to reduce the number of unwanted emails delivered to users.
Emotional sale refers to marketing that uses emotions to make prospects notice, share, and buy your company’s product or service. Find out how to close an emotional sale.
EOM (end of month)
EOM (end of tmonth) in sales is the monthly deadline for salespeople to achieve the goals set at the beginning of the month. Find out EOM sales techniques and examples.
Fair market value
Fair market value, or FMV, is a price a willing, knowledgeable, unpressured buyer is willing to pay to a willing, knowledgeable, and unpressured seller. Here’s how to calculate it.
Field sales, also known as outside sales, occur when salespeople sell the company’s product or service face-to-face at industry events, conferences, or personal meetings with customers.
Firmographics are a collection of descriptive attributes used by B2B organizations to segment their target market and discover their ideal customers. Find out the importance of firmographics.
Forecasting is a part of the sales and market analysis that helps predict future sales, trends, numbers, and characteristics in the target market. Here are all the types of forecasting.
A gatekeeper in business is a person who can grant or block access to key decision-makers. Find out how get past the gatekeeper.
A goal card is a tool that allows visualizing your goals and staying focused on reaching your targets. Find out how to compose an effective goal card.
A head buyer is the final decision-maker for products, goods, and services a company is buying. Read more on head buyer persona and B2B buyer responsibilities.
Infrastructure as a service (Iaas) is a cloud computing model of delivering infrastructure services over the internet. Here’s how IaaS works and its examples.
Ideal customer profile
Ideal customer profile is a hypothetical description of a perfect customer that would benefit from your solution and provide you with significant value. Find out ideal customer profile template questions.
Inbound sales is the methodology of identifying and exploring leads, improving their experience, and leading them to a purchasing decision. Here’s what inbound sales’ benefits and tactics are.
Inside selling is the process of selling products remotely by making phone calls and sending emails, as opposed to going to see the client face-to-face. Find out what benefits this model has.
Key performance indicator (KPI)
A key performance indicator, also known as KPI, stands for a quantifiable measurement used to evaluate the success in meeting performance objectives. Here’s how to measure KPIs.
Lead enrichment is the collection of data about a lead in order to provide sales and marketing teams with actionable info for a better chance to convert. Here’s how to enrich leads.
Lead generation is the process of attracting and capturing potential prospects. Here are the most popular lead generation channels and strategies.
The core task of lead nurturing is to help convert leads from one stage of the sales funnel to another. Here are the most effective lead nurturing tactics.
Lead qualification is finding prospects who fit your ideal customer profile and have a high chance of becoming customers. Here’s how to qualify leads.
Market segmentation is a practice of subdividing leads, prospects, and clients into smaller groups to improve targeting and personalization.
Marketing attribution is a process of identifying sets of customer actions that ultimately led them towards making a purchase. Find out what marketing attribution models there are.
Marketing qualified lead (MQL)
A marketing qualified lead, or MQL, is a lead who has not yet bought from a company but has a chance of doing so, as calculated by lead scoring. Here’s the difference between MQL and SQL.
Middle of the funnel (MOFU)
MOFU refers to the next stage in the buyer’s journey after TOFU, which focuses on consideration. Here are MOFU content examples.
Minimum viable product (MVP)
An MVP (a minimum viable product) is an early version of the product that has limited features and is only targeted at collecting customer feedback for further product development.
Mirroring is a sales and negotiations method in which a person replicates physical and verbal behavior of the other in order to establish rapport. Here’s how to use mirroring to sell.
Monday morning meeting
Monday morning meeting is a practice of conducting meetings on Monday morning with the whole team. Here are the tips how to make your team meeting productive.
MRR, or monthly recurring revenue, is a calculation to get a predictable measure of revenue stream. Here’s how to calculate MRR.
Name dropping is a sales tactic where you mention famous brands you know or worked with to make a good impression on people. Here is how to benefit from name dropping.
Needs assessment is a systematic approach that involves determining the company’s needs and finding the ways of improving its structure, operations, and processes.
Net Promoter Score (NPS)
Net Promoter Score is a measure of customer satisfaction and loyalty to a company. Here’s how to calculate NPS.
On-target earnings (OTE)
On-target earnings (OTE), also known as on-track earnings, refer to the expected total pay an employee can get after achieving all required goals. Here’s how to calculate them.
Onboarding is the process of acquainting new users or customers with your service or product to reduce churn rate, improve LTV, and build long-term customer relationships.
An operational CRM is designed to store and process information about your company’s every single interaction with the customer. Here are operational CRM examples.
Opt-in means that a person permits a company to send emails to them, for example, by signing up at a web site or via a special ad banner. Here are opt-in types.
Outbound sales are a sales process in which a sales rep initiates communication with a customer from their end. Here are the outbound sales stages.
Outreach marketing is a complex process of building meaningful relationships with businesses that might get interested in your product. Here are tips on how to build a successful outreach strategy.
PaaS (Platform as a Service) is a cloud computing model where the provider delivers software and hardware tools to customers through the internet. Here’s how PaaS works and its examples.
Point of contact
A point of contact (POC) is a person or a team that serves as the coordinator of information concerning an activity or program and handles communication with customers. Find out point of contact tips.
A prospect is a potential client who is in the market for your product and has the resources needed to buy it. Here’s how to find and convert prospects.
Prospecting is the process of defining and actively finding new cold leads with the goal of filling your sales funnel and converting them into customers.
Puppy dog close
Puppy dog close is a sales technique allowing prospects to test the product or service for several days before making a decision. Here are tips on how to use it.
Purchase order (PO)
A purchase order (PO) is a fiscal document a buyer sends to a vendor to authorize a purchase. Here’s how to make a purchase order.
Ramp-up is a massive increase in the production of products or services that a company sells, usually due to entering new markets or geographic regions. Find out how to ramp up your marketing.
Rapport is a close and harmonious relationship in which people understand each other’s feelings or ideas and communicate well. Find out how to build rapport.
Request for information (RFI)
A request for information is a document that a company uses to request information about a product or service from suppliers. Find out how to write an RFI.
Revenue is the total income amount of a company. Find out how to calculate gross and net revenue, and the difference between revenue and income.
ROI, or return on investment, is the calculation of gain or loss of money invested. Here’s 5 ways how to calculate ROI.
Software as a service (SaaS) is a model for the distribution of software where customers access the software through the internet. Here’s how SaaS works.
A sales call is a pre-arranged face-to-face meeting between a salesperson and prospect. Here’s how to make a sales call.
A sales champion is a stakeholder within a prospect’s organization who sells your product or service to their colleagues on your behalf. Find out how to become one.
Sales coaching is the process that involves organized teaching of sales reps to help them improve their skills and achieve sales goals. Here are the best sales coaching tips.
Sales compensation is payment that salespeople get for their work. As a rule, it includes a base salary, commission, and additional monetary incentives. Find out what sales compensation model to choose.
A sales cycle includes all the steps of a sales process, starting from the first customer contact to closing the deal. Here’s what the sales cycle stages are.
A sales director is a position the company offers to a person who will be responsible for leading a sales department and guiding it toward achieving a company’s sales goals.
A sales funnel is a series of steps a lead goes through before they reach the point of buying. Here are the sales funnel stages and optimization tips for improved conversion.
Sales management is the process of developing, planning, and controlling the entire process of selling your company’s goods or services. Find out the most effective sales management tactics.
A sales methodology is a set of principles a sales team should follow to understand how to perform their roles no matter what situations they may face during the sales process. Here are sales models examples.
Sales outreach is a way of contacting and building relationship with your prospective and existing customers over the phone, email, or social media. Here’s how to outreach effectively.
A sales pitch is a short sales presentation aimed to convince a new or existing customer to close a sale. Here’s how to craft a good sales pitch.
A sales presentation is a short presentation of your solution to prospects that aims to persuade them to make a purchase. Find out where to find free templates for sales presentations.
Sales turnover is a measure for evaluating how much of its products or services a business sells within a defined period. Here’s how to calculate the sales turnover ratio.
A salutation is a word or phrase used for greeting a recipient in business or personal correspondence. Here are the best salutation examples.
Sandbagging is a tactic of diminishing the expectations of a business’s strengths and core expertise to generate greater-than-expected results. Here are sandbagging examples.
A sound bite is a short, catchy piece of video, audio, or speech chosen to give the essence of what you are saying and arouse interest in the full-length source. Find out how to make a successful sound bite.
Statement of work
A statement of work (SoW) is a document created to plan a project and manage client expectations. Here are the SoW elements.
Targeting is a marketing strategy that involves selecting specific personas or markets for specific content. Here are the most common types of targeting.
Time kills all deals
The most efficient sales are performed fast. Once you lose momentum, time kills all deals. Here is how to force the deal.
A tire kicker decreases the productiveness of sales and worsens marketing efforts’ ROI. Learn about how to early notice time kickers and eliminate them from a sales pipeline.
Top of the funnel (TOFU)
Top of the funnel (TOFU) is the first stage of the buyer’s journey that focuses on awareness. Here are TOFU content examples.
Triggers are used for different purposes and are in particular demand in online marketing campaigns. Find out how they work, how to use them, and how they can help achieve higher sales.
A unicorn is a word used in the venture funds industry to indicate a tech startup with a total market value of over $1 billion. Find out the origin of the term and which companies are considered unicorns.
Unique Selling Point / Proposition (USP)
Unique selling point is a product’s main advantage over the competition. A unique selling point can be a feature, special technical characteristic, innovation, etc.
Unit economics is a method applied to analyze a company’s cost to revenue ratio in relation to its basic unit. Find out common unit economics models.
User experience (UX)
User experience (UX) is the impression a user has after interacting with a website, app, product, or software. Find out how to create the optimal UX.
User interface (UI)
User interface (UI) is the space where users interact with a website, program, or app. Find out how to create the optimal UI.
Value proposition is a phrase or statement unique to the company or product, which states clearly what is being offered. Here are some examples of effective value proposition.
A warm call is contact made with a prospect who is already aware of your company, product, or service in order to further their interest. Here’s how to make warm calls.
White hat SEO is any technique that improves your search rankings while staying within the search engines’ terms of service. Here’s what white hat SEO tactics are.
In sales terms, a white whale (or simply whale) is a lead that has the potential to bring enormous sales revenue to a company. Here’s how to sell to “whales.”
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