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.
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.
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.
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.
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.
An account development representative (ADR) is a member of the sales team responsible for identifying and qualifying new opportunities for the sales organization.
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.
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.
MOFU refers to the next stage in the buyer’s journey after TOFU, which focuses on consideration. Here are MOFU content 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 discovery call is the first call sales reps make after connecting with a client. Here are examples of discovery call questions.
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.
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.
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.
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.
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 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 buying signal is an action indicating an opportunity for a sales representative to make contact with a prospect. Find out examples of buying signals.
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.
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.
Needs assessment is a systematic approach that involves determining the company’s needs and finding the ways of improving its structure, operations, and processes.
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.
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.
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.
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.
A business development representative (BDR) is a member of the sales team whose duty is drawing new business opportunities to the company.
A clawback means that funds previously assigned to an employee must be returned to an employer. Here are examples of clawback provisions.
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.
A gatekeeper in business is a person who can grant or block access to key decision-makers. Find out how get past the gatekeeper.
Buyer behavior refers to the actions people take to purchase products and services. Find out buyer behavior types and patterns.
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.
Zeroed out is when a salesperson makes their draw balance equal to zero by earning enough commission.
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.
Cost per impression (CPM) is the cost one will pay for each thousand ad impressions. Find out how to calculate CPM.
The most efficient sales are performed fast. Once you lose momentum, time kills all deals. Here is how to force the deal.
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.
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.
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.
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.
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.
A sales call is a pre-arranged face-to-face meeting between a salesperson and prospect. Here’s how to make a sales call.
Top of the funnel (TOFU) is the first stage of the buyer’s journey that focuses on awareness. Here are TOFU content examples.
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.
Customer relationship management (CRM) is a technology for managing all business relationships and interactions with existing and potential clients. Here are CRM examples.
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.
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.
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.
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.
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.
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 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.
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.
Cold calls are unsolicited sales calls to prospects who don’t know the company. Here’s how to cold call effectively.
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.
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.
Net Promoter Score is a measure of customer satisfaction and loyalty to a company. Here’s how to calculate NPS.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
ROI, or return on investment, is the calculation of gain or loss of money invested. Here’s 5 ways how to calculate ROI.
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.
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.”
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.
MRR, or monthly recurring revenue, is a calculation to get a predictable measure of revenue stream. Here’s how to calculate MRR.
A statement of work (SoW) is a document created to plan a project and manage client expectations. Here are the SoW elements.
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.
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.
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.
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.
Lead generation is the process of attracting and capturing potential prospects. Here are the most popular lead generation channels and strategies.
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.
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 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.
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.
B2B (business-to-business) is a transaction type made between businesses. Find out the difference between vertical and horizontal B2B.
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.
Targeting is a marketing strategy that involves selecting specific personas or markets for specific content. Here are the most common types of targeting.