A/B testing. The act of changing a single variable in two otherwise identical pieces of marketing content to see which achieves better results.
ABC
noun
ABC stands for “always be closing.” It's a sales strategy that reminds reps that every step they take in the sales process is one step closer to closing the deal.
BANT framework
noun
The BANT framework is a checklist used during lead qualification.
B = Budget: Can the lead afford the product?
A = Authority: Is the lead a decision-maker with the authority to buy the product?
N = Need: Does the lead or their business need the product?
T = Time: Is this lead likely to purchase the product in the next sales cycle?
Leads that check all four boxes are extremely qualified and should be nurtured.
Churn rate
noun
Churn rate is an important marketing metric that tells you the percentage of customers you've lost over a specific period of time.
Click-Through-Rate
noun
Click-Through-Rate (CTR) CTR is the number of times an ad or link is literally clicked on by viewers and then divided by the number of times it's viewed.
Cold calling
noun
Making a cold call means reaching out to potential customers without previous interaction between the salesperson and the company. Commission.
Commercial prospecting
noun
Process of a business identifying, researching, and contacting potential clients.
Conversion
noun
A conversion is any prospect that moves to the next step in the sales pipeline.
Customer acquisition
phrase
Customer acquisition is a process that involves attracting customers to purchase your products.
Customer lifetime value (CLV)
noun
An educated prediction of how much money an individual customer will give your company over their lifetime.
Digital marketing
noun
Digital marketing is a form of advertising that uses digital channels, such as SEO and social media, to connect and engage with customers.
Direct sales
noun
Direct sales are sales that don't require a middleman.
Discovery call
noun
Discovery call. A discovery call is an initial conversation a lead (soon-to-be prospect) has with a sales rep.
Lead scoring
noun
Lead scoring is a ranking system that prioritizes leads by their potential value to the business.
Quota
noun
A quota refers to the number of sales a rep is expected to achieve over a specific time frame (usually a month).
Sales enablement
noun
Sales enablement describes the process of providing your sales team with the tools, training, skills, or resources they need to succeed.
Sales performance management
noun
Sales performance management is a set of sales processes created for maximum efficiency.
Sales representative
noun
Employee who work for a company to promote its products and/or services to buyers of other companies.
Supply chain
noun
The sequence of processes involved in the production and distribution of a commodity to its buyers.
Value chain
noun
Value chain refers to the value your company brings to the market.