Sales glossary from A to Z

150+ sales terms that won't leave you feeling lost in meetings with your team and clients.

Keep reading to enchance your understanding of B2B sales!

Account Management

Strategic management of client relationships to foster loyalty and maximize sales opportunities.

Account-Based Marketing (ABM)

A targeted marketing strategy that focuses on personalized campaigns for specific high-value accounts, tailoring messages and efforts to meet the unique needs of each account.

Account-Based Selling (ABS)

A sales strategy that aligns the sales process with the Account-Based Marketing (ABM) approach, emphasizing a personalized and targeted sales effort directed at high-value accounts.

Acquisition Cost

AKA. Customer Acquisition Cost (CAC), is the total cost incurred by a business to acquire a new customer. It includes expenses related to marketing, advertising, sales efforts, and any other costs associated with converting a prospect into a paying customer.

Active Listening

A communication skill where the listener fully concentrates, understands, responds, and remembers what the speaker is conveying. It involves giving full attention, asking clarifying questions, and providing feedback to ensure accurate comprehension.

Add-on sale

The practice of offering additional products or services to a customer who is already making a purchase. It aims to increase the overall value of the transaction and enhance customer satisfaction.

Adoption Rate

A metric that measures the percentage of users or customers who have embraced and are actively using a particular product, service, or feature within a given time frame.

Affinity Marketing

A strategy that involves partnerships between brands targeting similar or complementary customer segments. Businesses collaborate to leverage each other's customer base, enhancing the appeal of their products or services.

After-sales Service

The support and assistance provided by a company to customers after a product or service has been purchased. It includes maintenance, repairs, customer support, and additional services to ensure customer satisfaction.

Annual Recurring Revenue (ARR)

A key financial metric that represents the total revenue a company expects to receive annually from its subscription-based products or services. It provides a predictable and stable measure of a company's revenue stream.

Automated Sales

The use of technology and software to streamline and execute various aspects of the sales process without direct human intervention. This can include automated lead nurturing, email campaigns, and online transactions.

Average Revenue Per User (ARPU)

A financial metric that calculates the average income generated by each customer or user within a specified period. It is often used in subscription-based businesses to evaluate the performance and value of each customer.

Average Transaction Value (ATV)

A financial metric that calculates the average monetary value of a single transaction or sale. It provides insights into the typical size or value of customer transactions within a specific period.

B2B Sales

AKA. Business-to-Business Sales, refers to the process of selling products or services from one business to another. It involves transactions between companies, where the purchasing decision is typically made by a group of individuals or a dedicated procurement team.

B2C Sales

AKA. Business-to-Consumer Sales, involves the direct sale of products or services from a business to individual consumers. In B2C transactions, the purchasing decision is usually made by the end consumer.

BANT (Budget, Authority, Need, Timeline)

A sales qualification framework that stands for Budget, Authority, Need, and Timeline. It is used to assess and qualify leads based on their financial capacity, decision-making authority, identified needs, and the urgency or timeline for making a purchase.

Behavioral Segmentation

A marketing strategy that categorizes and targets consumers based on their actions, behaviors, and usage patterns. It divides a market into segments by understanding how customers interact with and respond to products or services.

Behavioral Targeting

A digital marketing strategy that uses data on users' online behaviors, such as browsing history, clicks, and searches, to deliver targeted and personalized advertisements. It aims to present relevant content based on individual user preferences and actions.

Benchmarking

The process of evaluating a company's performance by comparing it against industry standards, competitors, or best practices. It helps businesses identify areas for improvement and implement strategies to enhance their overall efficiency and effectiveness.

Black Hat Sales

An unethical or manipulative sales practices that prioritize closing deals at any cost, often at the expense of honesty, transparency, or customer well-being. It may involve deceptive tactics, false promises, or aggressive sales strategies.

Bottom of the Funnel (BOFU)

The stage in the sales or marketing funnel where leads are near the point of making a purchase decision. It is the stage where prospects have moved through awareness and consideration and are actively considering specific products or services.

Bounce Rate

A web analytics metric that measures the percentage of visitors who navigate away from a website after viewing only one page. It indicates the proportion of single-page visits, often signaling a lack of engagement or relevance.

Brand Equity

The perceived value and strength of a brand in the minds of consumers. It encompasses the overall impact a brand has on customer perception, loyalty, and the ability to command premium pricing.

Branding

The process of creating and promoting a unique and recognizable identity for a product, service, or company. It involves developing a distinctive name, logo, design, and messaging to differentiate the brand in the market and establish a connection with the target audience.

Break-even Analysis

A financial assessment that determines the point at which total revenue equals total costs, resulting in neither profit nor loss. It identifies the level of sales or business activity required to cover all fixed and variable expenses.

Bricks and Clicks

AKA. Clicks and Mortar, refers to a business model that combines traditional physical retail outlets (bricks) with online e-commerce (clicks). This hybrid approach allows customers to engage with a brand both in physical stores and through digital channels.

Business Development

The process of identifying, creating, and managing opportunities for growth within a business. It involves building relationships, forming partnerships, and implementing strategies to expand the reach and profitability of the company.

Buyer Persona

A semi-fictional representation of an ideal customer based on market research, data, and insights. It helps businesses understand the characteristics, needs, and behaviors of their target audience, guiding marketing and sales efforts to better resonate with potential customers.

Call Monitoring

The process of listening to, analyzing, and assessing telephone conversations between a customer service representative and a customer. It is commonly used for quality assurance, training purposes, and ensuring that interactions align with company standards.

Call to Action (CTA)

A prompt or directive that encourages a specific response or action from the audience. In marketing, it is often a clear and compelling statement instructing the viewer to take immediate steps, such as making a purchase, signing up for a newsletter, or clicking a link.

Challenger Sale

A sales methodology that focuses on challenging the status quo and actively guiding customers through their purchasing decision by providing insights, demonstrating expertise, and pushing them out of their comfort zones. It emphasizes the role of a salesperson as a valuable source of information and a catalyst for change.

Channel Sales

The distribution of products or services through third-party intermediaries, such as resellers, retailers, or distributors. Companies use this sales strategy to reach a broader market, leverage the expertise of channel partners, and expand their product or service availability.

Churn Rate

A metric that measures the percentage of customers who stop using a product or service over a specified period. It is often used in subscription-based businesses to assess customer retention and satisfaction.

Click-Through Rate (CTR)

A digital marketing metric that measures the percentage of users who click on a specific link or advertisement out of the total number of users who view it. It is commonly used to assess the effectiveness of online advertising campaigns.

Client Retention

The strategies and efforts employed by a business to maintain and nurture existing client relationships, reducing the likelihood of clients switching to competitors. It involves providing ongoing value, addressing concerns, and fostering customer loyalty.

Closed Won

This indicates that a deal or sales opportunity has been successfully completed, and the customer has committed to making a purchase. It signifies a positive outcome in the sales process.

Closing Ratio

AKA. Conversion Ratio, is a sales metric that measures the percentage of successfully closed deals compared to the total number of sales opportunities or leads. It provides insights into the effectiveness of the sales team in converting leads into customers.

Cloud Sales

The process of selling cloud-based services, which include software, infrastructure, or platforms delivered and accessed over the internet. Cloud sales often involve subscription models, offering scalability, flexibility, and accessibility compared to traditional on-premises solutions.

Cold Calling

A sales technique where a salesperson contacts potential customers who have not expressed prior interest in the product or service being offered. This initial contact is made without any prior relationship or warm introduction, and the aim is to generate interest, qualify leads, and ultimately make a sale.

Cold Canvassing

A sales approach where salespeople proactively approach potential customers or businesses without any prior contact or appointment. It often involves physically visiting locations or establishments, such as going door-to-door or approaching individuals in public spaces.

Cold Email

The practice of sending unsolicited emails to potential prospects or clients who have not expressed prior interest in the product or service. The purpose is to initiate contact, provide information, and generate interest or engagement.

Competitive Analysis

The process of evaluating and understanding the strengths and weaknesses of a business or product in comparison to its competitors. It involves examining competitors' strategies, market positioning, and performance to gain insights that can inform a company's own strategic decisions.

Content Management System (CMS)

A software application or platform that allows users to create, manage, and modify digital content on websites or online platforms. It enables users to easily publish, edit, and organize text, images, videos, and other multimedia elements without requiring extensive technical knowledge.

Conversion Funnel

AKA. a sales or marketing funnel, represents the stages that a potential customer goes through before making a desired action, such as a purchase. It typically includes stages like awareness, consideration, and decision, guiding users from initial contact to conversion.

Conversion Rate

A metric that measures the percentage of website visitors or leads who take a desired action, such as making a purchase, filling out a form, or subscribing. It is a key performance indicator used to assess the effectiveness of marketing or sales efforts in converting prospects into customers.

Cost of Goods Sold (COGS)

The direct costs incurred by a business in producing or acquiring the goods or services it sells. This includes costs such as raw materials, labor, and manufacturing overhead. COGS is a crucial metric for assessing the profitability of products or services.

Cost Per Click (CPC)

A metric that measures the amount an advertiser pays each time a user clicks on their online ad. It is a common pricing model for paid search and display advertising campaigns, where advertisers are charged based on the number of clicks their ads receive.

Cost Per Lead (CPL)

A metric that calculates the average cost incurred by a business for acquiring a new lead through a marketing campaign. It is determined by dividing the total campaign cost by the number of leads generated.

Cost Per Mille (CPM)

A metric that represents the cost of 1,000 impressions or views of an advertisement. It is commonly used in display advertising and calculates the cost advertisers pay for every thousand times their ad is displayed, regardless of clicks.

CRM Integration

Connecting a Customer Relationship Management (CRM) system with other business applications or tools to streamline data flow, enhance communication, and improve overall efficiency. It enables a seamless exchange of information between the CRM and other software used by a business.

CRM Software

A technology that helps businesses manage interactions and relationships with current and potential customers. It typically includes features for contact management, lead tracking, sales management, and customer service, providing a centralized platform for organizing and analyzing customer data.

Cross-selling

A sales strategy where a seller encourages customers to purchase additional products or services related to their initial purchase. The goal is to increase the overall transaction value and enhance the customer's experience by offering complementary or supplementary items.

Customer Acquisition Cost (CAC)

A metric that calculates the average cost a company incurs to acquire a new customer. It includes expenses related to marketing, advertising, sales, and other activities aimed at gaining new customers during a specific time period.

Customer Relationship Management (CRM)

a strategy, process, or technology that businesses use to manage and analyze interactions with current and potential customers. CRM systems typically include features for contact management, sales management, lead tracking, and customer service, aiming to enhance customer satisfaction, retention, and overall business efficiency.

Daily Active Users (DAU)

A metric used in the context of online platforms, apps, or digital services. It represents the number of unique users who engage with a product or service within a 24-hour period. DAU is a key performance indicator to measure the daily user engagement level.

Data Mining

The process of discovering meaningful patterns, trends, and insights from large datasets using various statistical, mathematical, and computational techniques. It involves extracting valuable information from raw data to make informed business decisions, identify correlations, and uncover hidden knowledge.

Demand Generation

A marketing strategy focused on creating awareness, interest, and demand for a product or service. It involves various marketing activities and campaigns designed to attract and engage potential customers, moving them through the sales funnel toward a purchase decision.

Digital Sales

The process of selling products or services using digital channels, such as online platforms, e-commerce websites, social media, and digital communication tools. It encompasses the entire sales journey conducted through digital means, from initial contact to transaction completion.

Direct Sales

Asales strategy where products or services are sold directly to consumers without intermediaries like retail stores. It often involves sales representatives engaging with potential customers through face-to-face interactions, phone calls, or online platforms to promote and sell products.

Discovery Call

An initial conversation between a sales representative and a potential customer to explore and understand the customer's needs, challenges, and goals. It serves as a fact-finding session to gather information and determine if the product or service aligns with the customer's requirements.

Dropshipping

A retail fulfillment method where a store doesn't keep the products it sells in stock. Instead, when the store sells a product, it purchases the item from a third party and has it shipped directly to the customer. The seller doesn't handle the product directly.

Dynamic Pricing

A pricing strategy where the cost of a product or service is adjusted in real-time based on various factors, such as demand, supply, competitor prices, and customer behavior. It allows businesses to set flexible prices that respond to changing market conditions.

Early Adopter

An individual or organization that is among the first to embrace and adopt a new product, technology, or innovation. Early adopters are typically adventurous and willing to take risks to be ahead of the curve in trying novel offerings.

Elevator Pitch

A concise and compelling summary of a business idea, product, or oneself, designed to be delivered in the time it takes to ride an elevator—usually around 30 seconds to 2 minutes. The goal is to quickly capture the listener's attention and communicate key information.

Enterprise Resource Planning (ERP)

A type of software that integrates core business processes and functions, such as finance, human resources, procurement, manufacturing, and supply chain management, into a single unified system. It enables organizations to streamline operations, improve efficiency, and enhance data visibility across various departments.

Enterprise Sales

The process of selling products or services to large enterprises or corporations. It often involves complex, high-value transactions, and the sales cycle may be longer due to the need for extensive evaluations, negotiations, and the involvement of multiple stakeholders within the enterprise.

Event Marketing

Promoting a brand, product, or service by organizing or participating in events such as trade shows, conferences, seminars, or promotional activities. It aims to create direct interactions with the target audience, build brand awareness, and generate leads through in-person or virtual experiences.

First-mover Advantage

The competitive advantage that a company can gain by being the first to introduce a new product or enter a new market. Being a first mover allows a company to establish brand recognition, capture market share, and set industry standards before competitors enter the space.

Gatekeeper

An individual, often an administrative assistant or receptionist, who controls access to key decision-makers or information within an organization. In sales, overcoming the gatekeeper is crucial to reaching the decision-makers who can influence or make purchasing decisions.

Gross Margin

AKA. Gross Profit Margin, is a financial metric that represents the percentage of revenue remaining after deducting the direct costs of producing or purchasing goods sold. It is calculated by subtracting the cost of goods sold (COGS) from total revenue and dividing the result by total revenue.

Handling Objections

Addressing and overcoming the concerns or hesitations raised by a potential customer during the sales process. Sales professionals use effective communication and persuasive tactics to resolve objections and move the customer toward a positive buying decision.

Handshake Deal

An informal or verbal agreement between parties, often sealed with a handshake, without a formal written contract. While such agreements are based on trust and mutual understanding, they may lack the legal protections and specificity of formal contracts.

High-touch Sales

Building strong relationships, understanding individual customer needs, and providing tailored solutions through direct and often in-person communication.

In-home Sales

The practice of conducting sales presentations, consultations, or transactions directly at a customer's residence rather than in a traditional retail or office setting. This approach is common in industries where products or services benefit from a personalized and hands-on demonstration.

Inbound Sales

Attracting and engaging potential customers through content marketing, social media, and other inbound marketing tactics. The goal is to create a customer-centric approach where leads are nurtured through informative content until they are ready to make a purchase.

Incubation Period

The time between the initial contact with a lead or prospect and the moment they become a qualified sales opportunity or customer. It represents the nurturing and development phase during which the prospect is engaged, educated, and moved through the sales funnel.

Key Performance Indicators (KPIs)

Measurable metrics that organizations use to evaluate their success in reaching specific business objectives. KPIs provide quantifiable benchmarks for performance, enabling businesses to track progress, identify areas for improvement, and make informed decisions.

Lead Conversion Rate

The percentage of leads or prospects who take a desired action, such as making a purchase, signing up for a trial, or completing a form. It reflects the effectiveness of the sales and marketing efforts in converting potential customers into actual customers.

Lead Generation

The process of attracting and identifying potential customers or leads for a product or service. It involves various marketing strategies and tactics to create awareness, capture interest, and encourage individuals to provide their contact information, becoming prospects that the sales team can nurture and convert.

Lead Magnet

A valuable incentive or offer that businesses provide to potential customers in exchange for their contact information or other details. Lead magnets are designed to attract and capture leads, allowing businesses to nurture relationships and guide prospects through the sales funnel.

Lead Nurturing

The process of building and maintaining relationships with potential customers (leads) at various stages of the sales funnel. It involves providing valuable content, personalized communication, and targeted interactions to guide leads through the buying journey, ultimately converting them into customers.

Lead Scoring

Evaluate and rank leads based on their likelihood to become customers. It involves assigning numerical values to leads based on certain criteria, such as engagement level, demographics, and behavior, to prioritize sales efforts and focus on leads that are more likely to convert.

Lifetime Value (LTV)

A metric that represents the total revenue a business expects to earn from a customer throughout their entire relationship. It helps businesses assess the long-term profitability of acquiring and retaining customers by considering their average spending over time.

Loss Leader

A product or service offered by a business at a price lower than its cost to attract customers and stimulate sales of other, more profitable products or services. While the initial item may be sold at a loss, the goal is to encourage customers to make additional purchases that generate overall profit.

Lost Customer Analysis

Analyze and investigate the reasons behind the loss or churn of customers. It involves examining customer feedback, behavior, and interactions to identify patterns and insights that can be used to improve products, services, or customer engagement strategies.

Market Research

The process of collecting, analyzing, and interpreting data about a target market, including information about potential customers, competitors, and industry trends. Businesses use market research to make informed decisions, develop marketing strategies, and understand the dynamics of the market in which they operate.

Market Share

The percentage of total sales within a specific market that a company or product controls. It is a key performance indicator used to assess a business's position relative to its competitors, indicating the portion of the market that belongs to a particular entity.

Mission Statement

A concise declaration that outlines an organization's purpose, values, and primary objectives. It serves as a guiding statement that communicates the company's core identity, aspirations, and the value it aims to provide to customers, employees, and stakeholders.

Monthly Recurring Revenue (MRR)

A key metric used by subscription-based businesses to measure the predictable and recurring revenue generated from subscription or recurring billing services within a given month. It provides insights into the stability and growth of a company's subscription business model.

Negotiation

A communication and decision-making process between two or more parties with the aim of reaching a mutually acceptable agreement. It involves discussion, compromise, and bargaining to resolve differences, establish terms, or make decisions on matters of interest.

Net Promoter Score (NPS)

A metric used to measure customer satisfaction and loyalty by asking a single question: "How likely are you to recommend our product/service to others?" Respondents provide a score on a scale, and the NPS categorizes them as promoters, passives, or detractors, helping businesses assess overall customer sentiment.

Objection Handling

Addressing and overcoming the concerns, doubts, or hesitations raised by a potential customer during the sales process. Effective objection handling requires active listening, empathy, and providing persuasive responses to alleviate the customer's concerns and move closer to a successful sale.

Pitch

A concise and persuasive presentation or speech delivered to convey information, make a proposal, or persuade an audience. In the context of sales, a pitch is often a structured and compelling communication aimed at convincing a potential customer to buy a product or service.

Point of Sale (POS)

The location and moment at which a customer makes a purchase or transaction. It can also refer to the technology and systems used to facilitate the transaction, including electronic cash registers, barcode scanners, and payment terminals.

Qualified Lead

A contact who has demonstrated a genuine interest in a product or service and has been assessed by the sales or marketing team as meeting specific criteria indicating a higher likelihood of becoming a customer. The qualification process ensures that leads align with the business's ideal customer profile.

Referral Program

Encouraging existing customers, partners, or contacts to refer new customers to the company. Typically, these programs offer incentives or rewards to individuals who refer others, creating a mutually beneficial arrangement for both the referrer and the business.

Relationship Selling

A sales approach that prioritizes building and nurturing long-term relationships with customers rather than focusing solely on individual transactions. It emphasizes understanding the customer's needs, providing personalized solutions, and fostering trust to encourage repeat business and customer loyalty.

Repurchase Rate

AKA. Repeat Purchase Rate, is a metric that measures the percentage of customers who make more than one purchase from a business within a specific period. It indicates the level of customer loyalty and the effectiveness of the business in retaining and encouraging repeat business.

Revenue Recognition

Revenue is typically recognized when it is earned and realized or realizable, indicating that the goods or services have been delivered, and payment is reasonably assured.

Run Rate

A metric used to estimate the annual financial performance of a business based on its current revenue or other key indicators over a shorter period. It is often calculated by extrapolating the current performance to an annualized figure, providing a snapshot of the business's performance at its current rate.

Sales Cycle

The series of stages that a customer goes through from initial awareness of a product or service to the completion of a purchase. It represents the entire process of acquiring a customer, including prospecting, qualifying, presenting, and closing the sale.

Sales Development Representative (SDR)

A sales professional responsible for prospecting, generating leads, and qualifying potential customers. SDRs focus on initiating and nurturing relationships with prospects, typically through outbound activities like cold calling, email outreach, and social selling, to pass qualified leads to the sales team.

Sales Enablement

The resources, tools, training, and information needed to effectively engage with customers and close deals. It aims to enhance the efficiency and productivity of the sales process, ensuring that sales professionals have the right assets and knowledge to meet customer needs.

Sales Funnel

AKA. purchase or sales process, is a visual representation of the stages a customer goes through before making a purchase. It typically includes stages such as awareness, consideration, decision, and purchase. The funnel concept illustrates the narrowing down of potential customers as they move closer to making a buying decision.

Sales Operations

The set of activities, processes, and strategies that support the sales team in achieving their goals efficiently and effectively. This may include tasks such as sales planning, forecasting, territory management, performance analysis, and providing the necessary tools and resources for the sales team.

Sales Pipeline

A visual representation or framework that illustrates the stages a sales opportunity goes through from initial contact to closing the deal. It helps sales teams track and manage prospects at different stages, providing a clear view of the sales process and identifying areas for improvement.

Sales Pitch

A persuasive presentation or speech delivered by a salesperson to potential customers, with the goal of convincing them to make a purchase. It typically highlights the key features, benefits, and value proposition of a product or service, addressing the customer's needs and pain points.

Sales Playbook

A comprehensive document or guide that provides sales teams with structured information, strategies, and resources to enhance their effectiveness in various stages of the sales process. It typically includes scripts, objection-handling techniques, competitive analysis, and other resources to support consistent and successful selling.

Sales Qualified Lead (SQL)

A prospect who has been assessed by the sales team and deemed more likely to convert into a paying customer based on their engagement, needs, and fit with the product or service. SQLs are considered to have progressed further down the sales funnel compared to marketing qualified leads (MQLs).

Sales Quota

Predetermined target or goal set for individual sales representatives or teams to achieve within a specific time period. Quotas are typically based on sales revenue, the number of units sold, or other key performance indicators. Meeting or exceeding quotas is often tied to compensation and performance evaluations.

Sales Script

A pre-prepared set of dialogue, questions, and responses that sales professionals use when engaging with potential customers. It provides a structured framework for sales conversations, helping salespeople communicate key messages, handle objections, and guide the discussion toward the desired outcome.

Sales Velocity

A sales metric that measures the speed at which opportunities move through the sales pipeline, from initial contact to closing the deal. It is calculated by multiplying the number of deals, average deal size, and win rate, then dividing by the length of the sales cycle.

Selling Points

The key features, benefits, or unique attributes of a product or service that are emphasized during a sales pitch to persuade potential customers. These are the aspects that differentiate the offering and are likely to appeal to the needs and preferences of the target audience.

Share of Wallet

The percentage of a customer's total spending on a particular category of products or services that a business captures. It reflects the company's ability to retain customer loyalty and encourage customers to allocate a larger share of their overall spending to its offerings.

Social Proof

A psychological phenomenon where people look to the actions and choices of others to guide their own behavior, assuming that if many others are doing something, it must be the right thing to do. In marketing, social proof is used to build credibility and trust by showcasing positive experiences, testimonials, reviews, and endorsements.

Solution Selling

A sales methodology focused on understanding and addressing the specific challenges and needs of a customer. Instead of emphasizing product features, solution selling aims to provide comprehensive solutions that align with the customer's goals and overcome their pain points.

Strategic Selling

An approach to sales that involves understanding and aligning with the strategic goals and needs of a prospective customer. It emphasizes building long-term relationships, focusing on value delivery, and tailoring solutions to meet the specific challenges and objectives of the customer.

Thought Leadership

Establishing oneself or a company as an authoritative and influential voice within a specific industry or field. It involves sharing valuable insights, expertise, and innovative ideas through content creation, public speaking, and other channels to position oneself as a trusted and knowledgeable source.

Time to Close

A sales metric that measures the average duration it takes to close a deal from the initial contact with a prospect to the final signed contract. It provides insights into the efficiency of the sales process and helps identify potential bottlenecks or areas for improvement.

Top of the Funnel (TOFU)

The initial stage in the marketing and sales funnel, where the focus is on creating awareness and attracting a broad audience. It involves strategies to generate leads and introduce potential customers to the brand or product.

Total Addressable Market (TAM)

The total potential market demand for a product or service that is calculated based on the maximum revenue a business could generate if it captured 100% of the available market share. TAM is often used for market sizing and strategic planning.

Touchpoint

Any point of contact between a customer and a brand, product, or service throughout the customer journey. Touchpoints can include online and offline interactions, such as website visits, social media engagement, customer support interactions, and product experiences.

Trial Close

A sales technique where a salesperson gauges a potential customer's receptiveness to the product or service by proposing a partial or hypothetical closing question during the sales presentation. It aims to assess the customer's readiness to move forward and helps guide the sales process.

Unique Selling Proposition (USP)

A distinctive and persuasive element that sets a product, service, or brand apart from its competitors. It communicates a specific benefit or advantage that addresses customer needs and differentiates the offering in the marketplace.

Unique Value Proposition (UVP)

A concise statement that communicates the distinctive and compelling value a product or service offers to its target audience. It highlights what sets the offering apart from competitors and why customers should choose it, emphasizing the unique benefits and solutions it provides.

Upsell Rate

A sales metric that measures the percentage of customers who, during a transaction, choose to upgrade to a higher-end or more expensive product or add complementary items. It indicates the success of upselling efforts and the effectiveness of persuading customers to opt for premium options.

Upselling

A sales technique where a seller encourages a customer to purchase a higher-end or more expensive product, add-ons, or upgrades. The goal is to increase the overall transaction value and maximize revenue by convincing customers to choose additional or premium options.

User Adoption

The process by which users begin to use and integrate a new product, service, or technology into their routine or workflow. It measures the extent to which the intended audience embraces and successfully incorporates the offering into their day-to-day activities.

User Persona

A detailed and semi-fictional representation of a business's ideal customer based on market research, customer demographics, and behavior patterns. It helps in understanding the target audience's needs, preferences, and challenges, guiding marketing and product development strategies.

Value Proposition

A statement that communicates the unique value and benefits that a product, service, or solution provides to its customers. It outlines the specific advantages and reasons why customers should choose a particular offering over alternatives, addressing their needs and solving their problems.

Value-based Selling

A sales approach that focuses on understanding and communicating the unique value and benefits a product or service brings to the customer. It involves aligning the features of the offering with the specific needs and goals of the customer, emphasizing the value proposition in the sales pitch.

Vendor

A person, company, or entity that sells goods or services. In a business context, a vendor is often a supplier or seller of products that are used by another company in its operations or for resale to end customers.

Virtual Selling

AKA. remote selling or online selling, refers to the process of selling products or services through virtual or digital channels, such as video calls, webinars, online presentations, and digital communication tools. It involves conducting sales activities without the need for in-person interactions.

Visual Merchandising

The practice of presenting products in a retail environment in a visually appealing and strategic manner to attract customers and drive sales. It involves the use of display techniques, product placement, signage, and aesthetics to create an engaging and cohesive shopping experience.

Warm Calling

A sales approach where a salesperson contacts potential customers with whom there has been some prior interaction or connection. Unlike cold calling, warm calling involves reaching out to leads who have shown interest, engaged with the brand, or had some form of previous contact.

Warm Leads

Potential customers who have shown some level of interest or engagement with a product or service. This interest could be indicated through actions such as visiting a website, downloading content, or expressing curiosity, suggesting a higher likelihood of conversion compared to cold leads.

White Paper

A detailed and authoritative report or guide that provides in-depth information, analysis, and insights into a specific topic, issue, or technology. White papers are often used in business, government, and technology sectors to present complex information and propose solutions or recommendations.

Wholesale

The sale of goods or merchandise in large quantities at lower unit prices to retailers, businesses, or other entities rather than individual consumers. Wholesalers act as intermediaries between manufacturers or distributors and retailers, facilitating the distribution of products on a larger scale.

Win Rate

A sales metric that measures the percentage of sales opportunities or deals that a sales team successfully converts into closed or won deals. It provides insights into the effectiveness of the sales team in turning leads into customers.

Word of Mouth

A form of informal communication where individuals share information, recommendations, or opinions about a product, service, or brand with others. It spreads through personal conversations, social interactions, and recommendations, often influencing purchasing decisions.

Zero-touch Sales

A sales process that requires minimal or no direct interaction between the salesperson and the customer. It often involves automated systems, self-service options, and online platforms, allowing customers to make purchases or transactions without the need for personal sales assistance.

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