en
CR
Sales Terms
25
Benefit : The value of a product or service that a consumer of that product or service experiences. Benefits are distinct from features, and sales reps should sell based on benefits that are supported by features.
Buyer Behavior : 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.
Buyer Persona : A semi-fictional representation of your ideal customer based on market research and real data about your existing customers. While it helps inbound marketers like you define their target audience, it can also help sales reps qualify leads.
Buying Criteria : All the information a consumer needs to make a buying decision. It can be written or unwritten, and often answers questions like, "what is it?; "why should I buy it?"; "what is the price?"; "why do I need it?" and so on.
Buying Process Cycle : The process potential buyers go through before deciding whether to make a purchase. Although it's been broken it down into many sub-stages to align with different business models, it can universally be boiled down to these three lifecycle stages
Awareness : Leads have either become aware of your product or service, or they have become aware that they have a need that must be fulfilled.
Evaluation : Leads are aware that your product or service could fulfill their need, and they are trying to determine whether you are the best fit.
Purchase : Leads are ready to make a purchase.
Buying Signal : A communication from a prospect indicating they are ready to make a purchase, either verbal or non-verbal. An example would be them asking the sales rep, "When can it be delivered?"
Closed Opportunities : An umbrella term that includes both closed-won and closed-lost opportunities, although some people use it to mean only closed-won opportunities.
Closed Won : When a sales rep closes a deal in which the buyer purchases the product or service.
Closed Lost : When a sales rep closes a deal in which the buyer does not purchase the product or service.
Closing Ratio : The percentage of prospects that a sales rep successfully close-wins. This ratio is usually used to assess individual sales reps on their short-term performance, but it can also be used to evaluate profits, forecast sales, and so on. Improving a closing ratio usually requires efforts to bring better-qualified leads into the funnel.
Cold Calling : Making unsolicited calls in an attempt to sell products or services.
Consumer : 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.
Closed Question : a question which generally prompts a yes or no answer, or a different short answer of just two possible options, compared to open questions, which typically begin with who, what, where, when, etc., and which tend to invite much longer answers
Consultative Selling : Developed by various sales gurus through the 1980s by Mark Hanan among others, and practised widely today, consultative selling was a move towards more collaboration with, and involvement from, the buyer in the selling process. Strongly based on questioning aimed at gaining useful information.
Conversion Rate : The percentage of people who completed a desired action on a single web page, such as filling out a form. Pages with high conversion rates are performing well, while pages with low conversion rates are performing poorly.
Cross selling : When a sales rep has more than one type of product to offer consumers that could be beneficial, and s/he successfully sells a consumer more than one item either at the time of purchase or later on. An example is when Apple sells you an iPhone and then successfully sells you an Apple iPhone case or a pair of Apple headphones. In this case, a sales rep identifies a need the customer has, and fulfills that need by recommending an additional product.
Customer : Usually meaning the purchaser, organization, or consumer after the sale. Prior to the sale is usually referred to as a prospect.
CRM : Software that lets companies keep track of everything they do with their existing and potential customers. At the simplest level, CRM software lets you keep track of all the contact information for these customers. But CRM systems can do lots of other things, too, like track email, phone calls, faxes, and deals; send personalized emails; and schedule appointments. The goal is to create a system in which sales reps have a lot of information at their fingertips and can quickly pull up everything about a prospect or existing customer.
Deal : Common business parlance for the sale or purchase (agreement or arrangement). It is rather a colloquial term so avoid using it in serious company as it can sound flippant and unprofessional.
Decision Maker: The person who, or role that, makes the final decision of a sale. They are often "guarded" by a gatekeeper.
Demo : The physical presentation by the sales person to the prospect of how a product works. Generally free of charge to the prospect, and normally conducted at the prospect’s premises, but can be at another suitable venue, eg., an exhibition, or at the supplier’s premises
Discovery Call : The first call a sales rep makes to a prospect, with the goal of asking them questions and qualifying them for the next step.
Empathy : Understanding how another person feels, and typically reflecting this back to the other person. The ability to feel and show empathy is central to modern selling methods. Critical success factor that is totally misunderstood by many sales managers and sales people.
Feature : 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.
Influencer : A person in the prospect organization who has the power to influence and persuade a decision-maker. Influencers will be generally be decision-makers for relatively low value sales. There is usually more than one influencer in any prospect organization relevant to a particular sale, and large organizations will have definitely have several influencers. It is usually important to sell to influencers as well as decision-makers in the same organization. Selling to large organizations almost certainly demands that the sales person does this. The role and power of influencers in any organization largely depends on the culture and politics of the organization, and particularly the management style of the two main decision-makers. See decision-makers.
Lead : 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. Generating leads is a critical part of a prospect's journey to becoming a customer, and it falls in the second stage of the larger inbound marketing methodology, which you can see below.
Sales Terms
Across:1. | Leads are ready to make a purchase. | 3. | A person in the prospect organization who has the power to influence and persuade a decision-maker. Influencers will be generally be decision-makers for relatively low value sales. There is usually more than one influencer in any prospect organization relevant to a particular sale, and large organizations will have definitely have several influencers. It is usually important to sell to influencers as well as decision-makers in the same organization. Selling to large organizations almost certainly demands that the sales person does this. The role and power of influencers in any organization largely depends on the culture and politics of the organization, and particularly the management style of the two main decision-makers. See decision-makers. | 5. | 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. | 6. | The process potential buyers go through before deciding whether to make a purchase. Although it's been broken it down into many sub-stages to align with different business models, it can universally be boiled down to these three lifecycle stages | 7. | A communication from a prospect indicating they are ready to make a purchase, either verbal or non-verbal. An example would be them asking the sales rep, "When can it be delivered?" | 8. | The first call a sales rep makes to a prospect, with the goal of asking them questions and qualifying them for the next step. | 10. | Understanding how another person feels, and typically reflecting this back to the other person. The ability to feel and show empathy is central to modern selling methods. Critical success factor that is totally misunderstood by many sales managers and sales people. | 11. | All the information a consumer needs to make a buying decision. It can be written or unwritten, and often answers questions like, "what is it?; "why should I buy it?"; "what is the price?"; "why do I need it?" and so on. |
| 12. | When a sales rep closes a deal in which the buyer does not purchase the product or service. | 13. | The value of a product or service that a consumer of that product or service experiences. Benefits are distinct from features, and sales reps should sell based on benefits that are supported by features. | 15. | Usually meaning the purchaser, organization, or consumer after the sale. Prior to the sale is usually referred to as a prospect. | 18. | a question which generally prompts a yes or no answer, or a different short answer of just two possible options, compared to open questions, which typically begin with who, what, where, when, etc., and which tend to invite much longer answers | 19. | The percentage of prospects that a sales rep successfully close-wins. This ratio is usually used to assess individual sales reps on their short-term performance, but it can also be used to evaluate profits, forecast sales, and so on. Improving a closing ratio usually requires efforts to bring better-qualified leads into the funnel. | 20. | An umbrella term that includes both closed-won and closed-lost opportunities, although some people use it to mean only closed-won opportunities. | 22. | Making unsolicited calls in an attempt to sell products or services. |
| | Down:2. | Leads have either become aware of your product or service, or they have become aware that they have a need that must be fulfilled. | 4. | Developed by various sales gurus through the 1980s by Mark Hanan among others, and practised widely today, consultative selling was a move towards more collaboration with, and involvement from, the buyer in the selling process. Strongly based on questioning aimed at gaining useful information. | 6. | 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. | 8. | Common business parlance for the sale or purchase (agreement or arrangement). It is rather a colloquial term so avoid using it in serious company as it can sound flippant and unprofessional. | 9. | The percentage of people who completed a desired action on a single web page, such as filling out a form. Pages with high conversion rates are performing well, while pages with low conversion rates are performing poorly. |
| 12. | Software that lets companies keep track of everything they do with their existing and potential customers. At the simplest level, CRM software lets you keep track of all the contact information for these customers. But CRM systems can do lots of other things, too, like track email, phone calls, faxes, and deals; send personalized emails; and schedule appointments. The goal is to create a system in which sales reps have a lot of information at their fingertips and can quickly pull up everything about a prospect or existing customer. | 14. | Leads are aware that your product or service could fulfill their need, and they are trying to determine whether you are the best fit. | 16. | 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. | 17. | The physical presentation by the sales person to the prospect of how a product works. Generally free of charge to the prospect, and normally conducted at the prospect’s premises, but can be at another suitable venue, eg., an exhibition, or at the supplier’s premises | 21. | 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. Generating leads is a critical part of a prospect's journey to becoming a customer, and it falls in the second stage of the larger inbound marketing methodology, which you can see below. |
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© 2015
PuzzleFast.com, Noncommercial Use Only
Sales Terms
Across:1. | Leads are ready to make a purchase. | 3. | A person in the prospect organization who has the power to influence and persuade a decision-maker. Influencers will be generally be decision-makers for relatively low value sales. There is usually more than one influencer in any prospect organization relevant to a particular sale, and large organizations will have definitely have several influencers. It is usually important to sell to influencers as well as decision-makers in the same organization. Selling to large organizations almost certainly demands that the sales person does this. The role and power of influencers in any organization largely depends on the culture and politics of the organization, and particularly the management style of the two main decision-makers. See decision-makers. | 5. | 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. | 6. | The process potential buyers go through before deciding whether to make a purchase. Although it's been broken it down into many sub-stages to align with different business models, it can universally be boiled down to these three lifecycle stages | 7. | A communication from a prospect indicating they are ready to make a purchase, either verbal or non-verbal. An example would be them asking the sales rep, "When can it be delivered?" | 8. | The first call a sales rep makes to a prospect, with the goal of asking them questions and qualifying them for the next step. | 10. | Understanding how another person feels, and typically reflecting this back to the other person. The ability to feel and show empathy is central to modern selling methods. Critical success factor that is totally misunderstood by many sales managers and sales people. | 11. | All the information a consumer needs to make a buying decision. It can be written or unwritten, and often answers questions like, "what is it?; "why should I buy it?"; "what is the price?"; "why do I need it?" and so on. |
| 12. | When a sales rep closes a deal in which the buyer does not purchase the product or service. | 13. | The value of a product or service that a consumer of that product or service experiences. Benefits are distinct from features, and sales reps should sell based on benefits that are supported by features. | 15. | Usually meaning the purchaser, organization, or consumer after the sale. Prior to the sale is usually referred to as a prospect. | 18. | a question which generally prompts a yes or no answer, or a different short answer of just two possible options, compared to open questions, which typically begin with who, what, where, when, etc., and which tend to invite much longer answers | 19. | The percentage of prospects that a sales rep successfully close-wins. This ratio is usually used to assess individual sales reps on their short-term performance, but it can also be used to evaluate profits, forecast sales, and so on. Improving a closing ratio usually requires efforts to bring better-qualified leads into the funnel. | 20. | An umbrella term that includes both closed-won and closed-lost opportunities, although some people use it to mean only closed-won opportunities. | 22. | Making unsolicited calls in an attempt to sell products or services. |
| | Down:2. | Leads have either become aware of your product or service, or they have become aware that they have a need that must be fulfilled. | 4. | Developed by various sales gurus through the 1980s by Mark Hanan among others, and practised widely today, consultative selling was a move towards more collaboration with, and involvement from, the buyer in the selling process. Strongly based on questioning aimed at gaining useful information. | 6. | 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. | 8. | Common business parlance for the sale or purchase (agreement or arrangement). It is rather a colloquial term so avoid using it in serious company as it can sound flippant and unprofessional. | 9. | The percentage of people who completed a desired action on a single web page, such as filling out a form. Pages with high conversion rates are performing well, while pages with low conversion rates are performing poorly. |
| 12. | Software that lets companies keep track of everything they do with their existing and potential customers. At the simplest level, CRM software lets you keep track of all the contact information for these customers. But CRM systems can do lots of other things, too, like track email, phone calls, faxes, and deals; send personalized emails; and schedule appointments. The goal is to create a system in which sales reps have a lot of information at their fingertips and can quickly pull up everything about a prospect or existing customer. | 14. | Leads are aware that your product or service could fulfill their need, and they are trying to determine whether you are the best fit. | 16. | 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. | 17. | The physical presentation by the sales person to the prospect of how a product works. Generally free of charge to the prospect, and normally conducted at the prospect’s premises, but can be at another suitable venue, eg., an exhibition, or at the supplier’s premises | 21. | 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. Generating leads is a critical part of a prospect's journey to becoming a customer, and it falls in the second stage of the larger inbound marketing methodology, which you can see below. |
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© 2015
PuzzleFast.com, Noncommercial Use Only