sales glossary

20 A helpfull business word bank to help me to increase my knowledge about business terms

A glossary about my buisiness word bank

B2C: expression; Business 2 Consumer. B2C is a term describes the transactional relationship between provider and client where the provider is a business and the client is an individual consumer.; Example: Our B2C marketing strategy targets new moms.; fr: business to business
BANT: expresion; An acronym used in sales for lead qualification that stands for Budget, Authority, Need, Timeline. It's a famous tool for sales reps and sales leaders to help them determine whether their prospects have the budget, authority, need, and right timeline to buy what they sell. B = Budget: Determines whether your prospect has a budget for what you're selling. A = Authority: Determines whether your prospect has the authority to make a purchasing decision. N = Need: Determines whether there's a business need for what you're selling. T = Timeline: Determines the time frame for implementation.; Example: Just use the BANT metode; fr: Le BANT est une méthode en 4 temps permettant de qualifier et scorer un client potentiel. Le sigle BANT signifie Budget, Authority, Need et Timing.
Benefit: verb; The value of a product or service that a consumer of that product or service experiences; Example: Benefits are distinct from features, and sales reps should sell based on benefits that are supported by features.; fr: Avantage
Buyer Behavior: noun; The ways a consumer identifies, considers, and chooses products and services. Buyer behavior is often influenced by the consumer's needs, desires, aspirations, inhibitions, role, social and cultural environment.
Consumer: noun; A person who uses a product or service. They may not be the actual buyer of that product; for example, if I buy my brother a pair of basketball shoes, then my brother is the consumer of those shoes, not me.; Example: I'm a realy good consumer; fr: conssomateur
Feature: noun; A function of a product that can solve for a potential buyer's need or pain point; usually a distinguishing characteristic that helps boost appeal.; Example: I really like the feature of the car; fr: caractéristique
Flywheel: noun; The flywheel is a new way of conceptualizing the sales process, replacing the funnel where customers are thought of as an output. The flywheel demonstrates that awareness, engagement, and delight can happen at any point during the customer journey and that the best way to achieve growth is to apply force and remove friction in each stage.
Forecasting: verb; Estimating future sales performance for a forecast period based on historical data. Forecasted performance can vary widely from actual sales results, but helps sales reps plan their upcoming days, weeks, and months, and helps high-level employees set standards for expenses, profit, and growth.
Gatekeeper: noun; A person who, or role that, enables or prevents information from getting to another person(s) in a company. For example, a receptionist or personal assistant.
Lead: verb; A person or company who's shown interest in a product or service in some way, shape, or form. Perhaps they filled out a form, subscribed to a blog, or shared their contact information in exchange for a coupon.
Margin: The difference between a product or service's selling price and the cost of production.
Objection: adjective; A prospect's challenge to or rejection of a product or service's benefits, and a natural part of the sales process. Common objections often have to do with budget, authority, need, and timing (see BANT). How sales reps handle objections plays a big role in determining whether a prospect will buy
Opportunity: noun; Though every company has different processes for defining what criteria make someone an opportunity, it's basically when a qualified lead is being worked by Sales.
Pipeline: noun; The step-by-step process sales reps go through to convert a prospect into a customer. The sales pipeline is often divided into stages for each step in the sales process, and the sales rep is responsible for moving opportunities through the stages. It can also refer to a visual representation of the sales process, where every open opportunity is arranged based on the sales stage they're in.
Prospecting: verb; The process of searching for and finding potential buyers. Sales reps (or "prospectors") seek out qualified prospects and move them through the sales cycle.
Quota: noun; A sales goal; a set amount of selling a sales rep is expect to meet over a given time frame, usually a month and/or quarter. It's very, very common for sales reps to have quotas, also the form they take can vary from company to company and from role to role.
Smarketing: expression; Used to refer to the practice of aligning Sales and Marketing efforts. In a perfect world, marketing would pass off tons of fully qualified leads to the sales team, who would then subsequently work every one of those leads enough times to close them 100% of the time. But since this isn't always how the cookie crumbles, it’s important for Marketing and Sales to align efforts to impact the bottom line the best they can through coordinated communication.
Stage: noun; Parts of the sales pipeline representing each step in the sales process. It's the sales rep's responsibility for moving opportunities from stage to stage. Different companies define their sales stages differently, but each one has behind it a set of requirements that need to be completed in order for an opportunity to move from one stage to the next.
Up-Selling: expression; When a sales rep sells an existing customer a higher-end version of the product that customer originally bought. For example, if you bought a cell phone plan and a sales rep successfully persuaded you to upgrade to a plan with more minutes or data, then that's an up-sell.
Value Proposition: noun; "Value prop" for short. A benefit of a product or company intended to make it more attractive to potential buyers and differentiates it from competitors