Also known as “Draw Against Commission” or simply “Draw.”. Metrics  are quantities that are measured and used to: Mid-Market is a classification of business organizations in terms of scale (revenue, number of employees, etc. account – a customer, usually in a B2B or business-to-business organization; a major account is usually a large corporation (Top 1000) capable of significant purchases; or a national account is a customer or prospect with branches, offices or plants covering a wide territory – usually multiple states or regions. is the process of turning a target consumer into a paying customer; or more generally, the point at which a user performs a specific action favorable to a marketer or a seller. is a business document that requests vendors or service providers to submit a proposal or bid during a procurement process. 0000004661 00000 n The existing organizations where the Sales app was available will show a … 0000006797 00000 n Key Performance Indicators (KPIs) are the most relevant measurable values that help indicate whether an organization or individual has succeeded at achieving targets or a desired level of performance. This is the smallest of the three market scales (TAM, SOM, SAM). ) Art — Any photo, map graph or illustration. 0000004552 00000 n is an acronym for Business-to-Business, a model for selling, relationship-building or engagement. Confidence categories relate to the probability that any individual opportunity will close at the time and value predicted. Absolute Temperature: Temperature measured from absolute zero. Teams and individuals who prefer such arrangements are said to have a “silo mentality.”. Firmographic is a set of descriptive attributes of prospective organizational customers that can be used to classify firms into relevant or applicable market segments. Warm Call is the process or act of calling or visiting a sales prospect with whom the sales professional has had a prior contact such as during an event or via a referral. Push Counter is a dashboard tracker used in some CRM’s such as Salesforce to monitor the frequency at which closing an opportunity is being pushed/postponed from period to period. introductory email that are sent to another LinkedIn member you’re currently not connected with. Lifetime Value (LTV) is the total value of a customer from a business perspective or in terms of revenue before they churn. is a generic file with a framework showing the standard sections or features of a specific kind of document, used to create a new document of the same type faster and easier. is the total value of a customer from a business perspective or in terms of revenue before they churn. Vehicle Logistics Terminology Version 1 January 2015. A siloed team misses out on opportunities to benefit from interactions with other teams. Less rigorous than RFPs. A vocabulary list featuring Key Words - Marketing. are units of milestones or points of contact used to measure the marketing effort it takes to transform a prospect into a viable, qualified lead. Commission is the amount of money a sales professional earns for reaching a specific sales volume or for executing one or more business transactions. Â. Accounts Payable refers to an accounting entry denoting the amount of short-term monetary obligation your company owes its suppliers, vendors and other service providers. Â, refers to an individual — usually a team leader or manager — tasked to maintain high employee productivity and engagement through technology, process improvements and other methods; also a person tasked to operate and maintain the Salesforce CRM.Â. For example, this would refer to a sales rep’s take-home pay if they are meeting quotas and earning expected commissions. ), occupying the segment between the small companies and large multinational enterprises serving the same market. is a descriptive term to denote good and lawful behavior, but came to also include legalized activities (including sanctioned hacking) that are otherwise illegal in a different context. You can always change this later. quantities that are measured and used to: Assess a set of attributes such as a company’s profitability. is an individual or an organization that purchases a product or signs up for a service offered by a business. Only homes that have legally closed count as a comp -- and most lenders and insurance providers require appraisers to use at least three closed sales… is a type of lead that has been evaluated — based on a given set of criteria — to have a higher likelihood of becoming a paying customer compared to other leads. Call Transfer. refers to interest (could be sales or marketing driven) that comes. Low-Hanging Fruit refers to a class of prospective consumers or a market segment that requires the least level of effort to turn into paying customers. United States (change Country/Language) Request for Quotation (RFQ) is a business document asking suppliers or service providers to give a comprensive quote/pricing for the purchase of an item(s) or the completion of a specific task. Cold Email is the use of email to engage a prospect who have no prior knowledge about or contact with the salesperson sending the email. Lead Nurturing refers to the process of engaging and building long-term relationships with prospective customers through different marketing techniques that develop their preference for your product and services. When working with new clients use this downloadable PDF to highlight the most commonly used, client facing real estate terms to inform and impress your clients! Sales Lead is a potential consumer of your company’s product or service who have 1) expressed interest about your offerings, and 2) shared contact information. Average Contract Value (ACV) is the average revenue you derive from a single customer in a given period. Sales Enablement is a strategic process that provides a company’s sales professionals with tools, technology, training and other resources that improve their performance at customer engagement and at generating value for all stakeholders in the sales process. But you won't have anyone to sell to if your business lacks an effective marketing plan. Net New Business is a prospect that you have newly converted into a paying customer or an existing account that has been dormant for a long period but has been re-engaged and reactivated as a revenue-generating account. Clawback means contractual provision or an action involving an employer or benefactor taking back money already released to an employee or beneficiary. Closing Date: The date on which the sale of a property is to be finalized and a loan transaction completed. System of Record (SOR) is an information storage and management system that protects data integrity, and serves as the authoritative source for specific data items in systems where multiple sources of the same items exists. is the person or unit representing an entity, typically tasked to facilitate decision-making and coordinate the flow of information to and from the entity. Commonly used in Google Adwords and Facebook Ads. is simply a rebranding or sub-branding – meaning, the name under which they operate their business differs from its legal, registered name. refers to a minimum level or starting point from which further measurements or comparisons can be made for analyses, forecasting, performance improvement or strategy formulation. The point is to validate product-market fit and demand. Sales Kickoff is a major annual event for sales organizations, often held as a celebratory gathering where key achievements in the prior year are recalled, new revenue and organizational targets are set, and inspirational talks/strategy presentations/keynote speeches are given by guest dignitaries and top executives to galvanize the salesforce to deliver high performance in the coming year. Examples of IaaS are backend functions like Amazon Web Services (AWS), Zapier, , Docker, etc. ���� @#0�0!�-H�:P��`��˼@��̃�[.1pH0��-ev�{h̴�c���X[r��7=k⑝x��A&q��I�E��E����t\��-� �h� 7�� endstream endobj 29 0 obj<> endobj 31 0 obj<> endobj 32 0 obj<>/Font<>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 33 0 obj<> endobj 34 0 obj<> endobj 35 0 obj<> endobj 36 0 obj<> endobj 37 0 obj<> endobj 38 0 obj<> endobj 39 0 obj<> endobj 40 0 obj[/CalRGB<>] endobj 41 0 obj<> endobj 42 0 obj<>stream … • Explain the structure and objectives of a sales organisation. refers to an agreed-upon amount of payment an employee received as compensation for work rendered. Closed Won is the status of an opportunity where the deal has been closed with the prospect/lead who is now considered a customer. Entrepreneur in Residence (EIR) refers to when a venture capital firm hires a successfully exited founder to do deal flow/diligence (see also: VCR – VC in Residence). Speed of execution is the goal. Inbound Sales is a process, method or transaction wherein purchases occur as a result of customers directly approaching, engaging and embracing your brand, achieved by focusing on their needs and strategically leading them to your solution. Org Structure is a system by which the hierarchy, lines of authority, and interrelationships of teams, roles, responsibilities, and functions in an organization are defined. This is where machines learn to interpret human language based on contextual meanings and use it to do things and obey commands (e.g. Sales Operations is a collection of aligned business processes, strategic implementations and other activities aimed at achieving organizational goals, specially in the areas of sales revenue, market coverage and growth. General Manager is an executive with varying levels of importance and range of responsibilities depending on corporate structure, but who generally leads a company unit or a branch, overseeing its performance, profitability and daily operations. 0000001831 00000 n is the use of email to engage a prospect who have no prior knowledge about or contact with the salesperson sending the email. 0000001236 00000 n Also known as “Draw Against Commission” or simply “Draw.”. Armoire: A tall standing wardrobe or closet, often used to store clothes, which can feature one to three doors and sometimes a mirrored panel. allow a simple majority of investors to effect legal change (usually a sale). Template is a generic file with a framework showing the standard sections or features of a specific kind of document, used to create a new document of the same type faster and easier. is an executive with varying levels of importance and range of responsibilities depending on corporate structure, but who generally leads a company unit or a branch, overseeing its performance, profitability and daily operations. These include business management expenses as well as costs incurred in the promotion, sale and distribution of the company’s products and services. refers to the top and biggest portion of a sales or marketing funnel where prospects enter a screening process until only the leads most inclined to purchase are left. is the active study of different types of data with the aim of discovering meaningful patterns and translating these into insight (such as historical analyses and forecasts), or action (such as those intended to improve business performance). is a predefined benchmark indicating the amount of sales a selling unit such as a sales rep or a regional sales team should achieve within a given period, often used as a measure of success, performance and eligibility for commissions and other rewards. is a marketing process that aims to build awareness and excitement about a company’s products and services, often used by businesses to promote new offerings or feature sets, reach new markets, generate consumer buzz and drive customer loyalty. Baseline refers to a minimum level or starting point from which further measurements or comparisons can be made for analyses, forecasting, performance improvement or strategy formulation. Â. BASHO Email is a customer engagement sequence using voicemail and email messaging aimed at increase the likelihood of a positive response from prospects. The most successful sales professionals are those who are really efficient at prospecting. is an executive who leads a sales unit, team or department by setting goals and meeting targets, formulating plans and policies, designating tasks, and developing salespeople. Analytics is the active study of different types of data with the aim of discovering meaningful patterns and translating these into insight (such as historical analyses and forecasts), or action (such as those intended to improve business performance). This sales glossary is meant to reduce ramp time for new reps that are getting immersed in B2B sales jargon for the first time. The Microsoft Terminology Collection is a set of standard technology terms used across Microsoft products. is a sales specialist who has primary responsibility for one or more customer accounts (called a portfolio), commonly tasked not only to nurture and grow the company’s relationships with said accounts but sometimes also to convert qualified leads into paying customers. is a metric — commonly expressed as a percentage — that indicates the efficiency or profitability of an investment, computed by dividing the benefit (return) by the cost of investment. is an official declaration that informs the customers and staff of an organization about the company’s top priorities and its core beliefs. This vocabulary can be used in English for specific purposes classes as a starting point for those working in sales and acquisitions. Get additional help on how to browse the SAP terminology … Â. is a framework that entails full coordination of customized care and management of targeted customer accounts across all relevant units of your organization (such as marketing, sales, finance, and product development) as well as the entire customer life cycle from lead generation to after-sales support. 0000023999 00000 n is typically expressed as a percentage and refers to the number of clicks on a link (usually an ad) divided by the number of times the page containing the link is shown. Inbound refers to interest (could be sales or marketing driven) that comes in – e.g. ASA Suggested Sale Terms and Conditions Effective January 1, 2011 BIDDING AND APPLICABLE LAW:-- #//-0 12/03 $ 412 660&1$7 589-’ 1/4 9&0;#1-1$7 #-0 0&82 $3 5$31/15$2 2 0/ 5&/4 ’ … Sales management refers to the administration of the personal selling a company's product line(s). • Discuss the sales, sales management and related concepts. Taken this way, quantities such as Customer Acquisition Cost (CAC) and Lifetime Value (LTV) become meaningful metrics that help a business tweak its operational model to achieve higher margins or levels of profitability. NO.  Â. is recurring revenue projected for the next 12 months. Infrastructure as a Service (IaaS) refers to a type of cloud computing that provides digital computing resources over the internet. Home appliances use knobs, touch screens, levers and other means to enable human interaction. is the process of subdividing a large market into distinct partitions (or segments) based on demographics and other factors, with the aim of formulating and implementing separate strategies to better engage the consumers in each segment. You can’t leave it on the back burner. Covenant is a formal written promise stating that certain activities will or will not be carried out. 0000037618 00000 n Most of these products are turnkey and lightweight. Pro rata is a Latin phrase that describes a proportional allocation of income, expenses, or other quantities to their component items based on these items’ original share of the total amount. • Verb + noun: The subsidiary generated substantial profits from its mining exploration lease. Day Sales Outstanding (DSO) is the time after acquiring a client before actually getting paid. Quarter is a three-month period in a company’s fiscal year commonly used to make comparative performance analyses, detect or forecast business trends, report earnings, and pay shareholder dividends. In web development, wireframes serve as one of three types of modeling, the other two of which are, (a much detailed and interactive representation of a website), and, (the most visually-intensive representation to convey styling and visual appeal). Double Trigger is a clause that accelerates vesting when an employee is let go (without due cause) in an acquisition. Median for true SaaS cos is 71%, but what are considered to be “good margins” varies in SaaS. is a prospect that you have newly converted into a paying customer or an existing account that has been dormant for a long period but has been re-engaged and reactivated as a revenue-generating account. record of primary and background information about an individual or corporate customer, including contact data, preferred services, and transactions with your company. Cost Per Click (CPC) is an advertising metric by which advertisers pay a bidding fee based on the number of people who click their ads. Employers, managers and other entities offer spiffs when introducing new products or hiking up production for a given period. Sales Automation is the act, practice or technique of using software to simplify, speed up or streamline the entire sales process or specific component activities such as customer tracking, forecasting, and inventory monitoring. 6 Prefi xes A prefi x appears at the beginning of a word and generally describes location and intensity. is a sales specialist focusing on finding new prospects, establishing foundational relationships, and refreshing the sales pipeline with new leads for account executives. is the portion of the Total Addressable Market (TAM) that can be reached by a business based on its current capabilities or prior track record (i.e., how much of the market you could realistically reach). is a proactive mindset, function, department or strategy commonly adopted by B2B companies to optimize business with customers, reduce churn rate, drive profits and increase the predictability of recurring revenue. Machine Learning is an aspect or type of artificial intelligence whereby a computer possesses the ability to learn various things by itself without explicitly being programmed to. IaaS is part of 3 main types of cloud services, along with Software as a Service (SaaS), and platform as a service (PaaS). Â, refers to a prospect or potential customer (who can be an individual or organization) that exhibits interest in your service or product; or any additional information about such entity. Discount means a promotional reduction in the cost of a product or service, commonly deployed to speed up sales. is the process of closely aligning the sales and marketing operations of a business, with the aim of increasing revenues via a shared integrated strategy. Sales Prospecting is the process of finding, building and qualifying a pool of potential buyers or clients through networking, cold calling, advertising and other engagement methods. Unit Economics refers to the application of economic principles as they impact a single entity such as a business or a customer. Sales Director is a senior-level executive who oversees an organization’s sales operations by 1) leading the formulation and execution of strategies, plans and policies for national or international sales 2) proposing and rationalizing departmental budgets; 3) supervising regional sales managers; and 4) ensuring continuous sales growth for the company. It is also a descriptive term for prospects (raw leads) that have shown initial interest in a service or product as a result of inbound marketing and outbound customer engagements. Business people sometimes treat spiff as an acronym, ascribing the words “Sales Performance Incentive Fund” to form its meaning. Â. is a potential customer who meets a set of predefined criteria and have used a benchmark product(s), indicating a relatively higher likelihood of making a purchase. 0000006359 00000 n Consider it the growth rate that gets you from the initial investment value to the ending investment value – e.g. is a term describing a product or service that can be purchased by a business entity and legally re-sold, marketed, and distributed under the entity’s own brand or trademark. The balance of marketing and sales requires a comprehensive strategy that smoothly guides leads toward becoming customers. 0000003373 00000 n 0000020338 00000 n 0000006087 00000 n the process of engaging and building long-term relationships with prospective customers through different marketing techniques that develop their preference for your product and services. means contractual provision or an action involving an employer or benefactor taking back money already released to an employee or beneficiary. is a business organization that straddles the middle of the scale between an office/home office (SOHO) and large enterprises, having varying number of employees and revenue level depending on location. Return on Investment (ROI) is a metric — commonly expressed as a percentage — that indicates the efficiency or profitability of an investment, computed by dividing the benefit (return) by the cost of investment. 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