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B2b Sales Terms

A B C D E F G H I J K L M N O P Q R S T U V W
A

Average Call Value

An Average Call Value is a key metric used by call centers for the telecallers.

A

Automatic/Auto Dialer

An autodialer is a software or precisely a predictive dialer software that automatically dials numbers from a contact list.

A

ATT – Average Talk Time

ATT stands for the average talk time of an agent. It’s the amount of time he/she spends on handling prospect/customer calls. It could be to pitch a product/service or to resolve their queries.

A

Analytical CRM

An analytical CRM is used to maintain records of prospects and customer interactions.

A

Account Executive

An account executive is responsible for catering to the needs of existing customers and closing new accounts to create more customers.

A

ADR – Account Development Representative

An Account development representative or ADR is the one who develops strategies, identifies and acquires new customers, and is responsible to implement current market trends in the business strategy.

A

ABM – Account-Based Marketing

ABM or Account-based marketing is a strategy that companies use to narrow down high-value prospects and create a marketing campaign that caters to that audience.

A

Account

An account can refer to all the records of customer interactions your team has so far. This can include customer details, preferred business needs, buying history, and transactions with your business.

A

ABC – Always Be Closing

ABC or Always Be Closing implies a strategy that basically says everything a sales agent does is to work towards a single goal i.e to close a deal.

A

ABC – Always Be Closing

ABC or Always Be Closing implies a strategy that basically says everything a sales agent does is to work towards a single goal.

A

Account

An account can refer to all the records of customer interactions your team has so far…

A

ARPU

ARPU stands for Average Revenue Per User which measures how much money a company makes per customer account on average in any given time period.

B

Bulk SMS

Bulk SMS is a marketing technique that sends out text messages to a large number of people i.e a mass audience. It is used by both B2B and B2C organizations including media houses, banks, SaaS companies, IT companies, eCommerce websites, and more.

B

Business Analytics

Business analytics refers to the the set of statistics, methods, and technologies that analyze historical data to gain more insights for solving business problems.

B

BDR – Business Development Representative

A BDR is a person who is responsible for onboarding new customers, generating new business opportunities, qualifying active and inactive leads and engage in customer interactions.

B

Bad Leads

Bad Leads are the unqualified prospects or low-quality leads that have a low likelihood of converting. Usually, these kinds of leads don’t have their expectations clear and might waste a sales agents time.

B

B2C

B2C is an abbreviation for Business-to-Consumer model for sales, marketing, customer relationship management and engagement.

B

B2B

B2B is an abbreviation for Business-to-Business model for sales, marketing, customer relationship management and engagement.

C

Cold Email

Cold emailing has been proven to work in many industries, but it’s not for everyone. In fact, you can use cold emailing to your advantage.

C

Cold Calling

Cold calling is the art of reaching out to people and trying to persuade them to purchase your product. It’s not always easy and it’s not always successful. But if you have a good product, you can be successful.

C

CTR – Click Through Rate

The click-through rate (CTR) is the ratio of clicks to impressions. It’s the percentage of people who actually click an ad to visit the advertiser’s website.

C

Churn Rate

Churn rates are important because it tells you how much of your customer base is leaving your business. If you are losing a third of your customers, that means you have three times as many customers as you started with.

C

Churn

Churn is a metric used by many companies to measure customer satisfaction. In the case of a subscription, churn is the percentage of people who cancel or do not renew their subscriptions after a certain time frame.

C

Challenger Sales Model

The Challenger Sales model was developed by sales training expert Mark Lingelbach. He observed that the majority of salespeople were operating like “Challengers.”

C

Call Back

A callback function is a function passed into another function as an argument. It can be called at a later time.

C

Call Duration

Call duration is the length of time that the phone rings before it is picked

C

Call Center Software

Call Center Software is an online tool that helps you manage your phone calls.Call Center

C

Cloud Telephony

Cloud telephony provides an alternative to PBX because it enables the user to make phone calls from any device that has an Internet connection, such as a smartphone, tablet, laptop, etc.

C

CTA – Call to Action

A Call to Action is something that encourages consumers to perform a specific action after viewing, reading or listening to any marketing material

C

Contact Management

Contact management is the process of gathering, organizing, and keeping track of information about your leads, prospects and customers.

C

Contact Center

A contact center serves as an organization’s primary point of contact for customer inquiries. Customer service, technical support, and sales assistance are their main focus areas.

C

CTI – Computer Telephony Integration

Computer telephony integration (CTI) refers to a type of technology that allows computers to communicate with telephones. As a result, you can access a phone’s functionalities and pertinent data from a computer. This type of technology is used primarily in call centers to improve the productivity of agents.

C

Click to Chat

Click to Chat is a live chat feature, typically a button or snippet of code, that enables you to begin a conversation with someone without having to save any contact information.

D

Demo Ratio

A Demo Ratio or Demo-to-Close Conversion Rate is the total number of deals closed over a specified period divided by the total number of demos given in that specific period.

D

Demo

A demo is a presentation of a product or service. It is usually to convince someone about how beneficial the service/product will be and/or simply to provide information.

D

Discovery Call

A discovery call the first call that you make to a potential customer. It is an opportunity to identify the prospect’s challenges, goals, and needs that your business can fulfil.

E

EOY – End of Year

EOY or End of Year or Year-End refers to the end of December, or the end of a financial year.

E

EOQ – End of Quarter

EOQ, here, is the abbreviation for the end of a quarter. On the calendar, it refers to the end of each four defined three-month periods.

E

EOM – End of Month

In sales, it is the deadline for the Sales Team to meet the goals set at the start of the month, such as closing an expected number of deals and reaching their quota.

E

EOD – End of Day

EOD stands for End of Day and is a term used to describe the time when a day officially ends.

E

End of Call Disposition

End of call disposition, or just call disposition, describes the outcome of a call — such as “Interested,” “Not Interested,” and “Requested a Demo,” as well as the automated follow-up actions that take place after a call.

F

Follow-up Call

A Follow-up call is a phone call that is made after an initial contact with a prospective customer.

F

Field Sales Representative

A field sales representative is someone who sells goods or services outside of the office or a formal team environment.

F

FAB – Features, Advantages, Benefits

FAB stands for Features, Advantages, and Benefits. FAB is a methodology businesses use to understand why people buy their products or services, so they can align their marketing and sales strategies accordingly.

F

Forecasting

Sales forecasting refers to estimating the company’s sales revenue for a specific period – typically a month, quarter, half a year, or a year.

G

Gatekeeper

In sales, a gatekeeper is someone who screens marketing and sales experts before they speak with a company leader or owner.

H

Hit Rate

The Hit Rate is a measure or metric of sales performance. The figure is calculated by dividing the total number of sales of a product by the total number of people who inquired to learn more about it.

H

Historical Reports

Historical reports are any records from the past, either pertaining to the progress of the leads overtime or the performance of team members in the past.

I

IVR Solution

An Interactive Voice Response system, or IVR, is a computerized phone service that can be used by businesses for various purposes such as sales and customer service.

I

Initial Inquiry Call

The first contact made to gain information or knowledge regarding a particular product or service is called an initial inquiry call.

I

Inside Sales Representative

Inside sales occurs within the office environment, i.e. the representatives do not meet with prospects and customers face-to-face.

I

Inbound Sales

Inbound Sales involves companies attracting or “pulling” interested prospects, and qualifying them to determine if they are a good fit for their product/service.

I

ISM

ISM stands for Inside Sales Manager. Their job is to oversee the day-to-day operations of a company’s Inside Sales Team. Their responsibilities include training inside sales employees, preparing forecasts, and overseeing the completion of set tasks by Inside Sales representatives.

I

Integration

Integration is the process of connecting your software to third-party applications to sync/share data seamlessly. As a result, you get a greater range of options and features to choose from.

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K

Key Performance Indicators (KPIs)

A Key Performance Indicator (KPI) is a measure of the performance and progress of an individual or a business in relation to its stated goals or targets.

L

Lead Stage

A Lead Stage indicates where a lead stands in the buyer journey. The stages begin with lead generation and last until the leads enter, exit or re-enter the buyer journey.

L

Lead Tags

Lead Tags are the labels you assign to your leads in order to group them into different categories for easier, more efficient management of leads.

L

Lead Qualification

Lead Qualification is the process of identifying which leads (potential customers) are most likely to become paying customers.

L

Lead Nurturing

In Lead Nurturing, you strive to build and reinforce relationships with buyers at every stage of the sales cycle.

L

Lead Management

Lead Management is the process of gathering and managing leads (both potential and existing customers) until the point where they make a purchase and after.

M

Multi-platform integration

A Multi-Platform application is one that can run on multiple different types of operating systems and/or hardware devices. These include computers, tablets, smartphones, etc.

M

Multi-channel communication

Multi-channel communication (MCC) is a type of marketing communications that involves the use of several different marketing channels, such as television, print, radio, the internet, and social media.

M

Middle of the Funnel(MOFU)

Mofu is an acronym for Marketing, Operations, Fundraising, and User Experience. Marketing MoFu is the part of the buyer’s journey where you are trying to convince potential buyers that your solution is the best one for them.

N

Natural language processing

Natural Language Processing (NLP) is the field of study that deals with the processing and analysis of natural language data.

N

Needs Assessment

When doing a needs assessment, it is important to know what the organization’s needs are.

O

Outbound sales

The definition of outbound sales refers to the process through which sales reps make outbound sales calls or utilize other sales channels to reach prospects.

O

Objection handling

Objection handling is the act of tactfully responding to a lead’s concern by showing empathy and stating a sound rebuttal that overcomes their hesitation and continues moving the deal forward.

P

Performance management

Performance management is a type of job evaluation that helps employers identify areas of improvement and growth within their organization.

P

Performance incentive

When it comes to rewards, there’s no doubt that some of the most effective incentives are based on the power of recognition.

P

Predictive dialing

Predictive dialers are a common tool used by call centers to improve customer service.

P

Predictive analysis

Predictive analytics is a powerful tool for decision-makers because it allows them to take a more informed approach to problems.

P

Point of contact(PoC)

A POC is a person or a department serving as the coordinator or focal point of information concerning an activity or program.

P

Pipeline

A pipeline is a long-term goal that involves a series of discrete stages. It is used in sales and can be applied to any long-term endeavor.

P

Performance improvement plan(PIP)

A performance improvement plan is a formal document stating any recurring performance issues along with goals that an employee needs to achieve in order to regain good standing at the company (usually with a specific timeline to complete the plan).

Q

Quality monitoring

There are many different ways to measure call quality, but one of the most effective is to listen to the phone conversations being recorded.

Q

Qualified lead

The process of converting a potential customer into a qualified lead can be daunting.

R

Revenue metrics

Measuring your financial performance is not rocket science, but it is something that many businesses fail to do.

R

Revenue generation

Revenue generation can be a challenging topic for many businesses. You have to create a product or service that people will want to buy.

R

Retention rate

Retention rate is one of the most important metrics when working in SaaS.

R

Response time

There is a difference between response time and turnaround time.

R

Remote agent

Some companies are even allowing their employees to work remotely without pay.

R

Real-time management

The concept of real-time management is about working together with the people you lead to achieve your goals.

R

Real-time data

Real-time data is becoming increasingly common in everyday life. Nowadays, we receive data from many sources, such as weather reports, traffic updates, stock market prices, and even our mobile phones.

R

Real-time alerts

The need for real-time alerting has become a key differentiator in the ever-changing world of marketing.

S

Sales calls

The most important part of a sales call is the presentation of the products or services being sold.

S

Sales automation

Sales automation is a way to automate the sales process for your business so that you can focus on what matters most—growing your business.

S

Sales acceleration

Sales acceleration is about ensuring that your sales process is as efficient as possible.

S

SMS automation

Text message automation is the process of sending automated messages to people based on certain criteria.

S

SDRs

We believe that sales development reps are important because they can help salespeople break out of the comfort zone.

S

SMS Marketing

SMS Marketing is a marketing method used by businesses to promote their products/services to their target audience via text messages.

S

Service Quality

Service Quality deals with how efficiently a service provider does its job and how well a service matches customers’ needs and expectations.

S

Scheduled Callback

A Scheduled Callback is initiated when a prospect or customer requests to be contacted back in the future at an approximate time that fits with their schedule.

S

Sales Roles

Sales Roles refer to the role or position that salespeople play within an organization, or more specifically, in a Sales Team. Each type of sales role has its own unique types of responsibilities, which are typically determined by the industry they’re in and the company they work for.

S

Sales Qualified Lead (SQL)

A Sales Qualified Lead (SQL) is a prospective customer who has progressed through the sales pipeline – from being a marketing qualified lead to being a sales accepted lead – and is now at a stage at which the sales team can start working on converting them into paying customers.

S

Sales Demo

A Sales Demo is a presentation in which sales reps show their prospective clients the features, capabilities, and value of their products or services.

S

Sales Cycle

The Sales Cycle is the systematic and repeatable process of turning a lead into a paying customer. It ensures that salespeople know what to do next, and know where the leads stand in the process.

T

Telesales

Telesales is the practice of directly selling products or services over the phone. Telesales can be inbound or outbound.

T

Telemarketing

Telemarketing is the act of marketing goods or services over the phone. Telemarketers are employed by companies to contact potential customers with offers or to ask for feedback.

T

Telecalling

The act of contacting people to sell, collect information, market, remind, etc. via a phone call is called telecalling.

T

Top of the Funnel (TOFU)

Top of the Funnel or TOFU is the first step in the buyer’s journey. At the top of the sales funnel are users who are researching a product or service. In this stage,

U

User Behaviour

User Behaviour entails all the actions users/visitors take on a site: what they click on, where they stumble, how they scroll down pages and where they ultimately leave.

U

User Experience (UX)

User Experience (UX) pertains to everything an end-user experiences when interacting with a company and its product/service.

U

Unique Selling Point/Proposition (USP)

Your competitive advantage, or USP, can be derived from anything — it could be a special quality your products have, or some extra service you offer to all clients.

V

Virtual Call Center

A Virtual Call Center or contact center is one in which the agents or executives are geographically far apart rather than seated at workstations in one office.

V

Vital Sales Stats

Vital Sales Stats are powerful pieces of information that help you gain insights into the vast world of Sales, and are also powerful tools that help you sell more effectively.

V

Value Proposition

Value Proposition is the set of benefits a company offers to its customers. It answers the question “so what?” and describes why someone should buy your product instead of a competitor’s.

W

Workforce Management

Workforce Management entails allocating human resources strategically, tracking the attendance of employees, and complying with the frequently changing laws and regulations at work. This is done to minimize risk and maximize productivity.

W

White Label

A White Label product is a generic, or off-the-shelf, product that is mass-produced and then rebranded and repackaged by a manufacturer or retailer as their own, without any of the original branding being visible.

W

Warm Call

A Warm Call is a call made to those contacts who have already shown interest in your company’s product or service.

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