Sales Glossary

Our sales glossary is meant to help sales professionals navigate the world of sales. Reference terms, concepts, and theories about sales, business, and marketing.

A/B Testing

A/B testing is a method of comparing two versions of a sales message to see which one performs better. The goal is to find the version that results in more sales.

Account

A business or organization that buys or uses goods or services.

Account Executive

The salesperson responsible for managing the sales process and developing relationships with key decision-makers within an account.

Account Management

The process of developing and maintaining relationships with current and potential customers.

Account Plan

A document that outlines the key strategies and activities that will be undertaken to grow a specific account.

Active Listening

Active listening is a technique that is used in order to better understand a sales prospect. It involves paying close attention to what the prospect is saying, both verbally and non-verbally, in order to gain a clear understanding of their needs and wants. Feed back the content and feeling of the prospect’s words to confirm you heard the prospect correctly and ask clarifying questions to ensure understanding.

Activity Management

The process of managing and tracking the day-to-day sales activities of a sales rep.

Annual Contract Value (ACV)

The total value of all products and services sold to an account over the course of a year.

Average Order Value (AOV)

The average value of all orders placed with a company over a period of time.

B2B (business-to-business)

B2B (business-to-business) selling is the process of selling products or services to other businesses. This type of selling is typically done by salespeople who have a deep understanding of the products or services they are selling and the companies they are selling to. B2B selling can be done in person, over the phone, or online.

B2C

B2C selling is the process of selling products or services to individuals (customers or consumers) through direct means, such as in-person sales, over the phone, or online.

Benchmark

A standard against which something can be measured or compared.

Best Practices

Proven methods or processes that have been shown to produce superior results.

Brand Awareness

The level of familiarity and recognition that consumers have with a company or its products.

Business Case

A document that outlines the justification for pursuing a particular course of action.

Business Intelligence (BI)

Information that helps a company understand its customers, markets, and business environment.

Business Process

A series of activities or steps that are undertaken in order to achieve a specific goal.

Business Process Management (BPM)

A systematic approach to improving the efficiency and effectiveness of business processes.

Call Cycle

The sequence of activities a sales rep undertakes to generate and qualify new leads.

Call Planning

The process of creating a call plan, or schedule, for making sales calls.

Channel Partner

A third-party company that resells or distributes a company's products or services.

Inbound sales

Inbound sales is a type of sales in which a company attracts customers to its products or services, rather than seeking them out.

PIP

A performance improvement plan (PIP) is used to set expectations and track progress for an employee who is not meeting expectations. The PIP usually outlines specific areas where the employee needs to improve, as well as specific steps that need to be taken in order to improve.

Pattern Interrupt

A pattern interrupt is a sales technique designed to break the pattern of a prospect's normal behavior. By interrupting the prospect's normal pattern, the salesperson can more easily engage the prospect in a conversation, introduce a new product, or close a sale.

Ramp-up period

The amount of time required for a new hire to reach full productivity and to provide value to a sales team.

Rapport

The relationship between two parties built on trust and communication.

Revenue

The amount of money that a company receives from its customers in a given period of time.

SaaS

SaaS is a software as a service delivery model. It is software offered by the provider on the web. Customers can access and use the software, typically through a web browser, while the provider manages the infrastructure and security.

Sales cadence

A sales cadence is a series of steps that a salesperson takes to move a customer through the sales process. Steps typically consist of emails (auto & manual), phone calls, LinkedIn outreach, and other tasks. A sales cadence is also known as a sales sequence.

Sales call

A sales call is a phone conversation or meeting (often times prearranged) during which a salesperson tries to convince a potential customer to buy a product or service.

Sales sequence

A sales sequence is a series of steps that a salesperson takes to move a customer through the sales process. Steps typically consist of emails (auto & manual), phone calls, LinkedIn outreach, and other tasks. A sales sequence is also known as a sales cadence.

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