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Sales(87)

Sales is the process of selling products or services to customers in exchange for money or other compensation. It involves identifying potential buyers, presenting offerings, addressing objections, and closing deals to generate revenue for a business.

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A

Account

In sales, an account refers to a customer or potential customer organization that a company does business with or aims to do business with. It represents the ongoing relationship and interactions between the sales team and the client.

Account Based Selling

Account Based Selling (ABS) is a strategic sales approach that focuses on targeting and engaging specific high-value accounts rather than casting a wide net. It involves tailoring marketing and sales efforts to the unique needs and characteristics of each target account.

Account Development Representative

An Account Development Representative (ADR) is a sales professional responsible for identifying and qualifying new business opportunities for a company. They focus on the early stages of the sales process, conducting research, reaching out to potential clients, and setting up initial meetings for account executives.

Account Executive

An Account Executive in sales is a professional responsible for managing client relationships, identifying new business opportunities, and closing deals to meet or exceed sales targets.

Annual Contract Value ACV

Annual Contract Value (ACV) is a sales metric that represents the average yearly revenue generated from a single customer contract, normalized for a 12-month period. It's used to measure the financial value of customer agreements, especially in subscription-based or Software-as-a-Service (SaaS) business models.

Annual Recurring Revenue ARR

Annual Recurring Revenue (ARR) is a key metric in sales that represents the total value of recurring revenue from subscriptions or contracts over a 12-month period. It provides a snapshot of a company's predictable and stable revenue stream on an annual basis.

B

BANT Framework

The BANT Framework is a sales qualification methodology used to evaluate potential customers based on their Budget, Authority, Need, and Timeline. It helps sales professionals prioritize leads and focus on the most promising opportunities.

Bottom Of The Funnel BOFU

Bottom of the Funnel (BOFU) refers to the final stage in the sales process where potential customers are close to making a purchasing decision. At this point, leads have shown strong interest in your product or service and are considering it against competitors or alternative solutions.

Business Development Representative BDR

A Business Development Representative (BDR) is a sales professional who focuses on identifying and qualifying potential customers for a company's products or services. They are typically responsible for the initial stages of the sales process, including prospecting, outreach, and lead generation.

Business To Business B 2 B

Business-to-Business (B2B) refers to transactions, relationships, and marketing efforts between two companies, rather than between a company and individual consumers.

Business To Customer B 2 C

Business to Customer (B2C) refers to the process of selling products or services directly from a business to individual consumers, typically through retail stores, e-commerce websites, or other direct sales channels.

Buyer Behavior

Buyer behavior in sales refers to the actions, decisions, and patterns that customers exhibit when considering, purchasing, or using products or services. It encompasses the psychological, social, and economic factors that influence a customer's buying decisions.

Buyer Persona

A buyer persona is a detailed, semi-fictional representation of your ideal customer based on market research and real data about your existing customers. It helps businesses understand their target audience's needs, behaviors, and concerns.

Buying Criteria

Buying criteria in sales are the specific factors, requirements, or conditions that a potential customer considers when making a purchasing decision. These criteria help buyers evaluate and compare different products or services to determine which best meets their needs and provides the most value.

Buying Intent

Buying intent refers to the likelihood that a potential customer will make a purchase. It's a measure of how close a prospect is to buying a product or service, based on their behavior, interests, and interactions with a company.

Buying Process

The buying process in sales refers to the series of steps a potential customer goes through when making a purchase decision. It typically includes stages such as awareness, consideration, evaluation, decision, and post-purchase experience.

Buying Signal

A buying signal is an indication or behavior from a potential customer that suggests they are interested in making a purchase or are ready to move forward in the sales process.

C

Churn Rate

Churn rate in sales is the percentage of customers who stop doing business with a company over a specific period. It measures the rate at which customers discontinue their relationship with a business, typically through cancellations or non-renewals of services or subscriptions.

Closed Lost

Closed Lost is a sales term that refers to a deal or opportunity that has reached its final stage in the sales process but was not successfully converted into a sale. It indicates that the potential customer has decided not to purchase the product or service, and the sales team has ended their pursuit of the opportunity.

Closed Opportunities

Closed Opportunities in sales refer to potential deals or sales prospects that have reached a final outcome, either resulting in a successful sale (closed-won) or an unsuccessful attempt (closed-lost).

Closed Won

Closed Won is a sales term that indicates a deal has been successfully completed, with the customer agreeing to purchase the product or service.

Closing Ratio

Closing ratio in sales is the percentage of potential customers who make a purchase compared to the total number of sales opportunities. It measures a salesperson's or company's effectiveness in converting leads into actual sales.

Cloud Based CRM

A Cloud-Based CRM (Customer Relationship Management) is a software solution that stores and manages customer data and interactions in the cloud, allowing sales teams to access and update information from anywhere with an internet connection.

Cold Calling

Cold calling is a sales technique where a salesperson contacts potential customers who have not previously expressed interest in the product or service being offered.

Commission

A sales commission is a form of compensation paid to salespeople based on the amount of sales they generate. It is typically calculated as a percentage of the sale value or a fixed amount per unit sold.

Contract Management

Contract management in sales is the process of creating, negotiating, executing, and overseeing agreements between a company and its customers or clients throughout the entire contract lifecycle.

Conversion

A conversion in sales is when a potential customer takes a desired action, such as making a purchase, signing up for a newsletter, or requesting more information about a product or service.

Conversion Path

A conversion path in sales is the series of steps a potential customer takes from their initial interaction with a company to becoming a paying customer. It includes all touchpoints and actions that lead to a sale.

Conversion Rate

Conversion rate in sales is the percentage of potential customers who take a desired action, such as making a purchase or signing up for a service, out of the total number of visitors or leads.

CPQ Software

CPQ software, which stands for Configure, Price, Quote, is a sales tool that helps businesses quickly and accurately generate quotes for complex products and services.

CRM Analytics

CRM Analytics in sales is a data-driven approach that uses customer relationship management (CRM) software to analyze sales data, customer interactions, and market trends. It helps sales teams make informed decisions, predict future sales, and improve overall performance.

Cross Selling

Cross selling is a sales technique where a salesperson encourages a customer to purchase additional products or services that complement or enhance their initial purchase, often from different product categories.

Customer Acquisition Cost CAC

Customer Acquisition Cost (CAC) is the total cost a business incurs to acquire a new customer, including marketing and sales expenses.

Customer Lifetime Value CLV

Customer Lifetime Value (CLV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their entire relationship. It helps companies understand the long-term value of their customers and make informed decisions about customer acquisition and retention strategies.

Customer Relationship Management CRM Systems

A Customer Relationship Management (CRM) system is a software tool that helps businesses manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships, customer retention, and driving sales growth.

Customer Success

Customer Success is a proactive approach in business that focuses on ensuring customers achieve their desired outcomes while using a company's product or service. It involves building strong relationships with customers, understanding their goals, and helping them maximize the value they receive from the product or service.

S

Sales Coach

A Sales Coach is a professional who guides and mentors sales representatives to improve their performance, skills, and techniques in order to achieve better sales results and meet organizational goals.

Sales Dashboard

A Sales Dashboard is a visual representation of key sales metrics and performance indicators that provide real-time insights into a company's sales activities and progress towards goals.

Sales Development Representative SDR

A Sales Development Representative (SDR) is a sales professional who focuses on the initial stages of the sales process, primarily prospecting and qualifying potential customers to generate new business opportunities for the sales team.

Sales Enablement

Sales enablement is a strategic approach that provides sales teams with the tools, content, and information they need to sell more effectively. It involves equipping salespeople with resources, training, and technology to engage buyers throughout the sales process.

Sales Funnel

A sales funnel is a visual representation of the customer journey, illustrating the stages a potential customer goes through from initial awareness to final purchase. It helps businesses understand and optimize their sales process.

Sales Performance Management

Sales Performance Management (SPM) is a data-driven approach to planning, managing, and analyzing sales team performance to improve efficiency, effectiveness, and overall revenue generation.

Sales Pipeline

A sales pipeline is a visual representation of the sales process that shows the stages a potential customer goes through, from initial contact to closing the deal. It helps sales teams track and manage their leads and opportunities, providing insights into the sales cycle and forecasting future revenue.

Sales Pipeline Coverage

Sales Pipeline Coverage is a metric that measures the ratio of potential revenue in a company's sales pipeline to its revenue target, indicating the health and sufficiency of the pipeline to meet sales goals.

Sales Process

A sales process is a structured, step-by-step approach that sales teams follow to guide potential customers from initial contact to closing a deal. It provides a roadmap for salespeople to effectively engage with prospects, address their needs, and ultimately convert them into customers.

Sales Script

A sales script is a pre-written dialogue or set of talking points used by salespeople to guide conversations with potential customers, address common objections, and move prospects through the sales process.

Service Level Agreement

A Service Level Agreement (SLA) in sales is a formal contract between a service provider and a customer that defines the expected level of service, including quality, availability, and responsibilities. It sets clear expectations and metrics for both parties to ensure customer satisfaction and maintain a strong business relationship.

Social Selling

Social selling is a modern sales technique that leverages social media platforms and digital networks to identify, connect with, and nurture potential customers. It focuses on building relationships and providing value to prospects rather than using traditional hard-selling tactics.

Soft Sell

A soft sell is a gentle, non-aggressive sales approach that focuses on building relationships and trust with potential customers rather than pushing for an immediate sale.

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