Sales Glossary Quiz

Sales Glossary

• An account contains all the records of customer interactions, including contact information, preferred services, and transactions with your business.
• A sales team member in charge of closing deals by converting qualified leads into paying customers.
• A sales team member in charge of managing and up-selling existing clients and accounts.
• The amount of money a customer pays you every year on a subscription model.
• The annual contract value is the average annualized revenue per customer contract.
• Account-based selling is a strategy where the entire company coordinates to pursue high-value accounts.
• A sales specialist focused on finding new prospects, establishing foundational relationships, and updating the sales pipeline with new leads.
• Selling business to business.
• Selling business to consumer.
• A group of people representing a specific department or product within a company.
• A buyer persona is a representation of the ideal customer for your business.
• A verbal or nonverbal cue that shows a customer is ready to make a purchase.
• Highest level executives; C stands for Cheif – like Chief Executive Officer (CEO).
• A prospect within a company that wants to purchase your product or service.
• A person or company that offers services or products on behalf of another company.
• Focusing on different sales channels, such as an in-house sales team, retailers, referrals, dealers etc.
• The percentage of clients that leave or stop using your services or products within a certain time period.
• The number of deals closed compared to the number of engaged prospects.
• Closed opportunities, paying clients and people that your account managers should take care of.
• Or Account Executives, they are focused on closing deals and they only prospect a small number of strategic accounts.
• Attempt to engage with a prospect (that you don’t yet have a relationship established) on a call.
• Attempt to engage with prospects via email; sending a sales proposal to someone that you don’t yet have a relationship with.
• The cost of acquiring new paying clients.
• The total lifetime value of one client in terms of the revenue they’ll bring before they churn.
• A software or Internet-based service that helps business owners and sales professionals manage their sales pipeline.
• A strategy and a proactive mindset that helps reduce churn rates, increase customer satisfaction with a service/product, and the predictability of recurring revenue.
• The person in charge of making the purchasing decision at a company.
• A list of 500 of the largest companies in the US based on revenue.
• The person who answers the corporate phone and decides to let you talk to the decision-maker or not.
• Ideal Customer Profile is a profile of an ideal client for your business.
• Interest that comes in (received cold emails, submitted forms..)
• Sales that happen as a result of customers directly approaching and engaging with the brand/company.
• Someone who is a potential fit to purchase your product or service.
• All of the activities that have a goal to generate interest around a product or a service through different methods.