10 sales terms that every sales professional needs to know.
Posted: Tue Dec 03, 2024 6:41 am
And with so many sales terms , many people who work in the commercial area are lost because they do not know them or because they have some kind of doubt about their meaning. Growing companies have these KPIs very clear and structured in their sales teams.
For this reason, in this article we have selected 10 of the most commonly used sales terms so that you can keep them in mind and not get lost when you hear them. If you start the rapid ramping for sales, our accelerator program will put you among the elites of your industry in a short time.
B2B
The term B2B sales comes from the English “ business to business ” which refers to the business model in which products or services are marketed between two companies.
This model has grown exponentially in recent years with the arrival of the Internet and according to Forrester Research , B2B e-commerce will drive $1.2 trillion in revenue by 2021.
B2C
The acronym B2C stands for “ business to customer ” and refers to the business model in which companies market directly to a natural person who would be the final consumer.
In other words, it is the commerce that we see every day when we buy any item in a supermarket, for example. In the digital world, this type of model is present in e-commerce and according to the United Nations , B2C e-commerce was valued at 4.4 trillion dollars, 16% more than in 2017.
Buyer persona
Buyer persona is a fictional representation of your ideal customer and must have all the characteristics you consider necessary to be the perfect person to buy your products.
Although this sales term is most commonly used in marketing, it is important for sales representatives to know it in order to know which audience they should target with their strategies.
Cold calling
In Spanish it means cold calling and it is the practice of attracting prospects by telephone without ever having interacted with them before. The main objective is to collect data from potential clients and evaluate their quality as prospects in order to continue with the sales process.
A cold call can result in a prospect accepting a visit, an invitation to an event, or receiving commercial information.
Sales CRM
A CRM for sales is a software that allows you to manage and boost your relationships with your clients and potential customers. This tool is responsible for organizing all customer data in one place and allows your sales team to automate administrative tasks, organize processes and manage the pipeline easily.
A properly implemented CRM system can give your business a 245% ROI.
E-commerce
E -commerce is a business model for buying and selling canadian biotechnology email list products/services that uses the Internet as the primary means of carrying out transactions.
E-commerce companies generally have several channels to sell their products: virtual store, social networks and marketplace.
Experts predict that e-commerce retail sales will reach $4.13 trillion by 2022.
Follow UP
In the sales area, when we talk about follow-up, we are referring to the follow-up that a salesperson does with a client in order to establish direct contact. The idea is to promote an interest in the brand that helps us transform the client into a loyal client.
KPI
It is the acronym in English to refer to quality indicators or key business indicators . KPIs are a series of metrics used to measure the efficiency and productivity of the actions carried out in a business.
These metrics will help you know if your company is on the right track and if the objectives set will be met.
Some examples of KPIs are sales made, new customers, average ticket, website traffic or traffic on social networks.
Lead
A lead is a potential customer who has shown interest in your product or service and who provides their data in exchange for valuable information such as a report or an ebook, for example.
Leads can be divided in two ways:
Qualified lead : when they have the profile to become a client of the company.
Unqualified lead : when they do not yet have the profile to become a client of the company.
Sales pipeline
The pipeline is nothing more than the famous sales funnel!
The sales pipeline is the way a company represents the different stages of a sales process and establishes the actions that must be taken to reach the final objective, which is customer conversion.
The pipelines are divided into 4 stages:
Awareness: Ads that appeal to your target audience.
Consideration: investment in strategies to differentiate in the market and win over consumers.
Conversion: Sales process for a qualified lead to become a customer.
Loyalty: applying strategies to build customer loyalty and turn them into brand ambassadors.
ROI
Return on Investment is an indicator that allows calculating the profitability of investments made by a company.
ROI will make it easier to analyze the results of your investments to know which ones are worth it, which ones are not, and which ones can be optimized to generate more profits.
To calculate it, just use a simple formula: ROI = (Income – Investment) / Investment
Average ticket
It is the average amount that customers spend when purchasing your products or services and is calculated by dividing the total sales made by the number of orders.
If the company has a low average ticket, it will need to create strategies to increase it, for example promoting best-selling products or offering free delivery.
To learn more about the sales terms we have mentioned, we invite you to browse our library and discover everything that Tasa Ganada has to offer you.
For this reason, in this article we have selected 10 of the most commonly used sales terms so that you can keep them in mind and not get lost when you hear them. If you start the rapid ramping for sales, our accelerator program will put you among the elites of your industry in a short time.
B2B
The term B2B sales comes from the English “ business to business ” which refers to the business model in which products or services are marketed between two companies.
This model has grown exponentially in recent years with the arrival of the Internet and according to Forrester Research , B2B e-commerce will drive $1.2 trillion in revenue by 2021.
B2C
The acronym B2C stands for “ business to customer ” and refers to the business model in which companies market directly to a natural person who would be the final consumer.
In other words, it is the commerce that we see every day when we buy any item in a supermarket, for example. In the digital world, this type of model is present in e-commerce and according to the United Nations , B2C e-commerce was valued at 4.4 trillion dollars, 16% more than in 2017.
Buyer persona
Buyer persona is a fictional representation of your ideal customer and must have all the characteristics you consider necessary to be the perfect person to buy your products.
Although this sales term is most commonly used in marketing, it is important for sales representatives to know it in order to know which audience they should target with their strategies.
Cold calling
In Spanish it means cold calling and it is the practice of attracting prospects by telephone without ever having interacted with them before. The main objective is to collect data from potential clients and evaluate their quality as prospects in order to continue with the sales process.
A cold call can result in a prospect accepting a visit, an invitation to an event, or receiving commercial information.
Sales CRM
A CRM for sales is a software that allows you to manage and boost your relationships with your clients and potential customers. This tool is responsible for organizing all customer data in one place and allows your sales team to automate administrative tasks, organize processes and manage the pipeline easily.
A properly implemented CRM system can give your business a 245% ROI.
E-commerce
E -commerce is a business model for buying and selling canadian biotechnology email list products/services that uses the Internet as the primary means of carrying out transactions.
E-commerce companies generally have several channels to sell their products: virtual store, social networks and marketplace.
Experts predict that e-commerce retail sales will reach $4.13 trillion by 2022.
Follow UP
In the sales area, when we talk about follow-up, we are referring to the follow-up that a salesperson does with a client in order to establish direct contact. The idea is to promote an interest in the brand that helps us transform the client into a loyal client.
KPI
It is the acronym in English to refer to quality indicators or key business indicators . KPIs are a series of metrics used to measure the efficiency and productivity of the actions carried out in a business.
These metrics will help you know if your company is on the right track and if the objectives set will be met.
Some examples of KPIs are sales made, new customers, average ticket, website traffic or traffic on social networks.
Lead
A lead is a potential customer who has shown interest in your product or service and who provides their data in exchange for valuable information such as a report or an ebook, for example.
Leads can be divided in two ways:
Qualified lead : when they have the profile to become a client of the company.
Unqualified lead : when they do not yet have the profile to become a client of the company.
Sales pipeline
The pipeline is nothing more than the famous sales funnel!
The sales pipeline is the way a company represents the different stages of a sales process and establishes the actions that must be taken to reach the final objective, which is customer conversion.
The pipelines are divided into 4 stages:
Awareness: Ads that appeal to your target audience.
Consideration: investment in strategies to differentiate in the market and win over consumers.
Conversion: Sales process for a qualified lead to become a customer.
Loyalty: applying strategies to build customer loyalty and turn them into brand ambassadors.
ROI
Return on Investment is an indicator that allows calculating the profitability of investments made by a company.
ROI will make it easier to analyze the results of your investments to know which ones are worth it, which ones are not, and which ones can be optimized to generate more profits.
To calculate it, just use a simple formula: ROI = (Income – Investment) / Investment
Average ticket
It is the average amount that customers spend when purchasing your products or services and is calculated by dividing the total sales made by the number of orders.
If the company has a low average ticket, it will need to create strategies to increase it, for example promoting best-selling products or offering free delivery.
To learn more about the sales terms we have mentioned, we invite you to browse our library and discover everything that Tasa Ganada has to offer you.