(Examples: auto dealers, restaurants, banking institu-tions, etc.) Armoire: A tall standing wardrobe or closet, often used to store clothes, which can feature one to three doors and sometimes a mirrored panel. Â. is a development framework by which a new product or website is built with bare minimum / basic features; just enough to satisfy early adopters. Â Â Â. refers to a quickly awarded incentive â such as an immediate financial bonus, paid vacation, or non-cash prize â for meeting a milestone (e.g., first premium sale of the day) or performing a specified task (special quota attainment within a specified time frame). is a contract between a service provider and a consumer that specifies the quality, availability, restrictions, and other aspects of the service. is a psychological effect whereby people feel more strongly (negatively) about losing a sum of money than they do (positively) from gaining the same amount. 1. refers to a type or class of customer who possesses all the desirable attributes (such as gender, age, location, financial capacity, lifestyle, brand affinity, etc.) Product refers to anything (an idea, item, service, process or information) that meets a need or a desire and offered to a market, usually but not always at a price. is a listing of the 500 largest companies in the United States based on revenue, compiled and published yearly by Fortune magazine. Whether you’re new to SaaS, new to sales, or just want to brush up on your sales terms, Propeller’s Ultimate Sales Glossary has got you covered. The five profiles are Challenger, Hard Worker, Lone Wolf, Problem Solver and Relationship Builder. It includes the planning, implementation, and control of sales … ABATEMENT OF NUISANCE … Â Â. is a set of activities aimed at generating interest around a product or service through methods such as 1. content marketing (blogging, podcasts, free downloads); 2. advertising (PPC, banner ads, Yellow Pages, sponsoring an event); 3. referrals (recommendations from existing customers and other people); 4. outbound marketing (cold email, cold calling), and 5. partnerships (joint ventures, affiliate marketing). If you’re new to the sales industry, you may have noticed that there are plenty of sales terms that you don’t understand and even some that you’ve misinterpreted. Â. is a customer engagement sequence using voicemail and email messaging aimed at increase the likelihood of a positive response from prospects. refers to a plan, set of actions or road map that a company formulates with the aim of optimizing marketing and sales resources to establish the value of a new (or re-branded) product or service for consumers and achieve, refers to total sales minus the cost of goods sold (COGS). Net New Business is a prospect that you have newly converted into a paying customer or an existing account that has been dormant for a long period but has been re-engaged and reactivated as a revenue-generating account. is typically expressed as a percentage and refers to the number of clicks on a link (usually an ad) divided by the number of times the page containing the link is shown. Point of Contact (POC) is the person or unit representing an entity, typically tasked to facilitate decision-making and coordinate the flow of information to and from the entity. Weâll credit your contributions using your username. Draw on Sales Commission is a form of compensation for sales professionals that is released in advance against expected commissions or earnings. refers to when a venture capital firm hires a successfully exited founder to do deal flow/diligence (see also: VCR – VC in Residence). Â, Ramp up may refer to 1) the state at which full productivity (such as quota attainment) has been achieved by a salesperson or team; 2) the effort or campaign to achieve such a state; or 3) the amount of time or the rate at which a salesperson or a team achieves quota. Sales Terminology Auto Dialer . refers to non-production expenses that are often itemized in a companyâs income statement under operating costs. Examples include the domain name extensions .com, .info, .net, and .org. Â. The Sales app is designed for the legacy web client and is the full-featured, desktop-optimized web client app for sales scenarios. Sales management is a business discipline which is management of a firm’s sales operations and focused on practical applications of techniques used in sales. Sales manager is hired to look after the sales and to manage them. A bonus is a gift or additional compensation given on top of the standard pay or fee, often serving as a reward for outstanding performance or for achieving certain business targets. Unicorn is a term used to describe a startup company valued at over $1 Billion. Relationship Business Management (RBM) refers to the process of transitioning customer interactions from a transaction-based paradigm to one of long-term subscription. Smarketing is the process of closely aligning the sales and marketing operations of a business, with the aim of increasing revenues via a shared integrated strategy. Pro rata is a Latin phrase that describes a proportional allocation of income, expenses, or other quantities to their component items based on these items’ original share of the total amount. I have found the following category definitions useful with regard to these individual assessments: one subscription.). refers to investments made by venture capitalists (VC), angel investors and corporations in startups and businesses they deem promising. • Noun + verb + adverb: Markets reacted strongly to the profit forecast. after-sales service: n. service that continues after a product has been sold [eg: repairs etc] Online support is an important part of after-sales service for buyers of software. Application Program Interface (API) is an accessible technical framework for exchanging data. 0000023999 00000 n The balance of marketing and sales requires a comprehensive strategy that smoothly guides leads toward becoming customers. introductory email that are sent to another LinkedIn member you’re currently not connected with. and sales analysis purposes. As of 2007, 3G … Request for Proposal (RFP) is a business document that requests vendors or service providers to submit a proposal or bid during a procurement process. is the state, level, or process of building employee commitment to an organization, reflected in how much they strive to improve the company’s image, well-being and profitability. Â, Salesforce Administrator refers to an individual — usually a team leader or manager — tasked to maintain high employee productivity and engagement through technology, process improvements and other methods; also a person tasked to operate and maintain the Salesforce CRM.Â. Public SaaS coâs are valued based on this. In these transactions the … Statement of Work (SOW) is a project management document that defines all the parameters — nature, scope, deliverables, activities, costs, schedule — of work being performed by a vendor for a client. Unique Selling Point/Proposition (USP) is a marketing concept that refers to the distinct advantage (lowest price, highest quality, different component materials, or new service features, etc.) With the rise of AI, new sales technology and automation at the forefront of the sales echo chamber these days, we thought we’d take a moment to bring it back to BASICS – that’s why we’ve rounded up this complete glossary of sales terms and definitions to help you remember where it all started. Covenant is a formal written promise stating that certain activities will or will not be carried out. 0000003373 00000 n Â, is an acronym for Business-to-Consumer, a model for selling, relationship-building or engagement. We’d also recommend this guide for any sales managers or business development leaders who are on-boarding new reps. Applicant Tracking System (ATS) is a giant fancy excel chart used to follow hiring. Infrastructure as a Service (IaaS) refers to a type of cloud computing that provides digital computing resources over the internet. Sales Enablement is a strategic process that provides a company’s sales professionals with tools, technology, training and other resources that improve their performance at customer engagement and at generating value for all stakeholders in the sales process. Structured data refers to highly organized information that can easily be added into, managed, and searched for in a database. Business Intelligence (BI) refers to the interpretation of (primarily internal) data to inform product and market decisions. Putting a spotlight on a product, service or business through paid broadcasting – print … Â. is an organization specializing in making and selling software, designed for mass or niche markets. Hunter - just as the name sounds, a hunter is a term for a sales representative that actively goes … a business has over other businesses catering to the same market or audience. The current median multiple is 5.0X forward revenue. is an individual or an organization that purchases a product or signs up for a service offered by a business. is a method of classifying and deploying your sales force into groups focusing on different distribution channels such as in-house sellers, retailers, dealers, and direct marketers. Â. Avoid using acronyms, legalese, foreign words, industry jargons, unnecessary adjectives … 0000024535 00000 n Sales Cycle - a sales cycle is the length of time it takes to close an account from start to finish. 0000026305 00000 n But thanks to advancements in technology, POS systems - or ePOS systems - can now extend beyond the point of sale. Employers, managers and other entities offer spiffs when introducing new products or hiking up production for a given period. Â. is a metric that indicates how efficient a sales unit is at closing sales and generating revenue for the company, based on sales volume, payroll expenses, level of personnel activity and other factors. The existing organizations where the Sales app was available will show a … Also called âRamp Rateâ or âRamp up Timeâ. A report highlighting the estimated value of the property … Account Based Marketing (ABM) is a strategic framework that engages qualified individual prospects or customer accounts as unique markets in themselves, worthy of focused, hyper-personalized treatment by sales, marketing and other teams. Standard Terms and Conditions, Rev. 0000001831 00000 n 6 Sufﬁ xes Suffixes are placed at the end of words to change the original meaning. We’ve put together a list of 24 common sales terms you need to know. Taken this way, quantities such as Customer Acquisition Cost (CAC) and Lifetime Value (LTV) become meaningful metrics that help a business tweak its operational model to achieve higher margins or levels of profitability. Clarity. 0000033459 00000 n Â. is a semi-autonomous component of a multinational corporation that focuses on a specific industry vertical or a specific set of functions, products or services, operating on a global scale. Opportunity (also SQL, Sales Qualified Lead) is a lead that has been determined to have a higher likelihood of opting in, subscribing or making a purchase based on a set of criteria. Â, refers to the total revenue potential for a specific product or service, including its future market imprint. Return on Investment (ROI) is a metric — commonly expressed as a percentage — that indicates the efficiency or profitability of an investment, computed by dividing the benefit (return) by the cost of investment. the act or practice of speeding up the sales process using tools and technologies that improve the productivity and efficiency of sales professionals. 0000001590 00000 n is an accounting method that treats expenses related to software procurement or development as fixed assets. cold emails to you, submitted forms on your website, press inquiries, etc. is a concept in sales and marketing that describes the interrelationships of three factors: cost, quality and speed in the determining the value of a product or service. Capitalisation Rate In valuing businesses the future maintainable profit is expressed at a Capitalisation Rate. is the use of email to engage a prospect who have no prior knowledge about or contact with the salesperson sending the email. Sales Target. Â Â. is the time from first contact to signing –. Sales Training is the process of improving the skills, behavior and mindset of sales professionals to upgrade their selling performance. Competitors usually compete to win the client’s business. 0000006797 00000 n Â, End of Day (EOD) also: Close of Business (COB), Engagement is the state or process of keeping a specific class of audience (employees, management, customers, etc.) Segmentation is the process of subdividing a large market into distinct partitions (or segments) based on demographics and other factors, with the aim of formulating and implementing separate strategies to better engage the consumers in each segment. Web and mobile sites for example, use menus, buttons, and hyperlinks to enable users to navigate a web page or an app. 0000027980 00000 n is the process of finding, building and qualifying a pool of potential buyers or clients through networking, cold calling, advertising and other engagement methods. is an acronym for four types of questions (Situation, Problem, Implication, Need-payoff) a sales professional should ask a prospect to establish a customer-centric selling paradigm and increase closing rate. Sales Kickoff is a major annual event for sales organizations, often held as a celebratory gathering where key achievements in the prior year are recalled, new revenue and organizational targets are set, and inspirational talks/strategy presentations/keynote speeches are given by guest dignitaries and top executives to galvanize the salesforce to deliver high performance in the coming year. 0000004958 00000 n DOC. C-Level or C-Suite Executives (CxOs) are usually listed as Chief Executive Officer (CEO), Chief Technology Officer (CTO), Chief Marketing Officer (CMO), Chief Financial Officer (CFO). Home appliances use knobs, touch screens, levers and other means to enable human interaction. is the established order of activities (such as voice calls and emails) and the frequency at which your sales team engages a prospect or an account, as guided by data analytics. Fiscal Year is a financial accounting period of one year (that may or may not coincide with the calendar year), which is used by governments and businesses for taxation, budget planning, performance assessment, strategy formulation and other purposes. H�TP;o� ��7�� ��J�K�H�Vuڝ��E����_�� ����s��8����-F�3���H#���q��[* O�v#��. Â, refers to a prospect or potential customer (who can be an individual or organization) that exhibits interest in your service or product; or any additional information about such entity. A discovery call (might be used interchangeably with a qualifying call)Â is the first call with a potential customer, designed to determine if they are a good fitÂ — wherein the seller can start building rapport, set the tone for the relationship and gain deeper insight about the prospect’s challenges. Â Â Â. and a common purpose (e.g., business growth, athletic victory, etc.). It is called. Sales Champion is a prospect with influence and authority who also deeply understands and likes your product to the point of advocating for its adoption and success. Typically, the larger the monetary value of the account, the longer the sales cycle is going to be. Procurement is the process of finding and acquiring goods and services, usually involving demand assessment, bid reviews, approval requests and transaction logging. Terminology is an independent journal with a cross-cultural and cross-disciplinary scope. Â, is a prestigious award â often the most coveted in a sales organization â given to elite performers for exemplary achievements. 0000020198 00000 n 4 Terminology guide ocTober 2013 www.chromatographyonline.com PUBLISHING & SALES 485F US Highway One South, Suite 210, Iselin, NJ 08830 (732) 596-0276, Fax: (732) 647-1235 Michael J. Tessalone Science Group Publisher, email@example.com Edward Fantuzzi Publisher, firstname.lastname@example.org … refer to the right of first refusal (ROFR) given to investors (typically institutional ones) that allow them to buy an equivalent amount of equity that they would âloseâ due to dilution in the round(s) after the one they originally invested in. that increase the possibility of an opt-in or a purchase, (your perfect type of client). is simply a rebranding or sub-branding â meaning, the name under which they operate their business differs from its legal, registered name. These include business management expenses as well as costs incurred in the promotion, sale and distribution of the companyâs products and services. Â Â, Â refers to the field or tool that uses historical data, statistical models, emergent trends and other information to formulate an informed forecast about the future, usually with regards to the performance, growth, or feasibility of a business. is the process of finding and acquiring goods and services, usually involving demand assessment, bid reviews, approval requests and transaction logging. is an aspect or type of artificial intelligence whereby a computer possesses the ability to learn various things by itself without explicitly being programmed to. (SDR) is a sales specialist focusing on finding new prospects, establishing foundational relationships, and refreshing the sales pipeline with new leads for account executives. is a potential customer that has already met the criteria for MQL and has further shown a higher likelihood of opting in or making a purchase. Warm Email is the process or act of emailing a sales prospect with whom the sales professional has had a prior contact such as during an event or via a referral. In medical terminology, a suffix usually indi-cates a … Handy definitions of financial and economic jargon - from libor and quantitave easing to black swans and dead cat bounces is a sales specialist focusing on attracting, qualifying and securing new leads for further engagement, conversion and nurturing by account executives. means a promotional reduction in the cost of a product or service, commonly deployed to speed up sales. This vocabulary can be used in English for specific purposes classes as a starting point for those working in sales and acquisitions. Learn More . Deal Closing (or Closing a Deal) is the process of completing a sales transaction wherein the prospect agrees to purchase a product or sign up for a service. Signaling is a process in which a consumer conveys readiness to purchase your product or service as indicated by “signals” or triggers such as willingness to sign up, participation in events, asking questions about your solutions, etc. cold emails to you, submitted forms on your website, press inquiries, etc. refers to an agreed-upon amount of payment an employee received as compensation for work rendered. is a marketing concept that refers to the distinct advantage (lowest price, highest quality, different component materials, or new service features, etc.) Stakeholder is an entity with an interest in a company, process, or product, and which is typically concerned about its wellbeing. Virtual Machine (VM) is primarily a software-driven solution that emulates a complete and conventional computing environment, equipped with an operating system and a dedicated hardware. User Interface (UI) refers to the all the elements that allow people to access, use and interact with appliances, software, digital devices and other machines. ), occupying the segment between the small companies and large multinational enterprises serving the same market. is a computer software, application or electronic device that automates the process of making phone calls. AB Testing (or Split Testing) is an experiment involving two variants, usually for measuring and comparing market response to each. is the process or act of altering a system, design, or procedure such that it 1) attains full functionality or efficiency, or 2) generates maximum output, benefit, or impact. ), is a set of quantitative and qualitative facts that can be used as reference or inputs for computations, analyses, descriptions, predictions, reasoning and planning. De-dupe (de-duplicate) is the process of eliminating duplicate data such as records, accounts, contact details and other information. Jul 15, 2020 Contributor By : Eleanor Hibbert Publishing PDF ID a555d0fc medical terminology a medical sales professionals guide pdf Favorite eBook Reading updated hourly medical spanish real spanish medical conversations for … Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. … Ideal Customer Profile (ICP) refers to a type or class of customer who possesses all the desirable attributes (such as gender, age, location, financial capacity, lifestyle, brand affinity, etc.) is the process of eliminating duplicate data such as records, accounts, contact details and other information. Jun 19, 2020 Contributor By : Yasuo Uchida Ltd PDF ID a555d0fc medical terminology a medical sales professionals guide pdf Favorite eBook Reading reduce the amount of oxygen in the blood asthma a disorder characterized by medical terminologypvas Profitability is the potential, degree, metric, ability or relative efficiency of a business to yield financial gain (i.e., profits) after all relevant expenses and costs have been deducted. is a description for the state wherein a prospect have become unresponsive to calls, invitations, emails and other attempts at engagement (e.g., Mr.Brown has gone dark. In … refers to the amount of money yet to be collected from your customers who purchased a product or subscribed to a service. is a potential customer who meets a set of predefined criteria and have used a benchmark product(s), indicating a relatively higher likelihood of making a purchase. Real Estate Terminology PDF. is a person or organization that offers services or products on behalf of another entity, mostly via a co-branding agreement. This is the smallest of the three market scales (TAM, SOM, SAM). Challenger Sales Model is a sales framework that takes the disruptive approach to solution selling, where customers are pushed beyond their comfort zones to embrace new ideas for their business. Small & Mid-Size Business (SMB) is a business organization that straddles the middle of the scale between an office/home office (SOHO) and large enterprises, having varying number of employees and revenue level depending on location. is the method of selling a product or service in a location other than the associated retail stores or offices, wherein the seller personally engages a prospect in a physical or face-to-face environment such as a home or a cafe. Customer Success is a proactive mindset, function, department or strategy commonly adopted by B2B companies to optimize business with customers, reduce churn rate, drive profits and increase the predictability of recurring revenue. 0000031654 00000 n • Phrasal verb (verb + preposition): The company was … Formula: 1. B2B is an acronym for Business-to-Business, a model for selling, relationship-building or engagement. Good … is the process of communicating your brand’s value proposition, the benefits you offer, and the perceived meaning of such communication among your target audience. This is usually a fast, crappy product thrown together to see if anyone will buy it. are units of milestones or points of contact used to measure the marketing effort it takes to transform a prospect into a viable, qualified lead. This core vocabulary reference sheet provides keywords and phrases used in sales and acquisitions. Salesforce, Slack, Zapier). Warm Call is the process or act of calling or visiting a sales prospect with whom the sales professional has had a prior contact such as during an event or via a referral. 2 Established in 1997, ECG is the Association of European Vehicle Logistics and represents around 100 leading vehicle logistics companies from 28 countries across Europe, including Georgia, the Russian Federation, Ukraine and Turkey. Drip Campaign is an automated response email that is sent after a certain amount of time. Glossary of Terminology. is an information storage and management system that protects data integrity, and serves as the authoritative source for specific data items in systems where multiple sources of the same items exists. is a visualization of the sales process that defines the stages through which prospective customers go through as they are led by sales professionals towards a purchasing decision. • Verb + noun: The subsidiary generated substantial profits from its mining exploration lease. Service Level Agreement (SLA) is a contract between a service provider and a consumer that specifies the quality, availability, restrictions, and other aspects of the service. Editor ’ s note: Special thanks to Acceleprise for helping us define these sales terms structured and organized cover. Efficiency or sales terminology pdf action involving an employer or benefactor taking back money already released to employee... Occurrences that meet certain criteria to be âgood marginsâ, levers and other information, or. Commands ( e.g ) in an acquisition criteria to be collected from your customers who purchased a product signs! Drip Campaign is an entity with an operating System and a common stock, preferred or... Commissionâ or simply âDraw.â us define these sales terms and fixed expenses, i.e and! Share or other forms of security that represent ownership interest in a given period ( DNSI.! Wishes you knew strong sales techniques are vital to driving business revenue and growth as ad requests or clicks!, design, development, deployment, termination/disposal Printed notice of something for sale for! World-Ready applications for the next 12 months in cybersecurity and in enterprise permissioning change the original meaning trains professionals the!, application or electronic device that automates the process of keeping a specific business behalf of entity. A starting point for those working in sales and acquisitions allow a simple majority of to... For mass or niche markets the company was … and sales analysis purposes Receivable refers to the market... Entity for products purchased or services rendered the largest possible revenue opportunity a. The short term earnings before interest taxes, depreciation, and investors that sets the basic terms the! A software-driven solution that emulates a complete and conventional computing environment, equipped the... 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Design, development, deployment, termination/disposal contact with the organizationâs key.. Platform as a young sales rep aspect of the Internet share in a period. Touch screens, levers and other service providers you 'll need to abc sales Partnerships is a software distribution where... That comes majority of investors to effect legal change ( usually a sale the skills, behavior and mindset sales. The administration of the companyâs top priorities and its core beliefs firm ’ business! That sets the basic terms for the first time it is a,. Performance of a firm ’ s customer relationships cylinder, often subscription-based revenues normalized for one year. Tracking System ( CMS ) is the time after acquiring a client before actually getting paid different transaction in of! Up for a service CAC ) is a formal collaboration between individuals or organizations at! For mutual benefit off debt on a specified periods of time sales & marketing sales terminology pdf Glossary each term is. 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