B2B Sales: Business 2 Business describes a transactional relationship between a provider and client where both the provider and client are businesses.
B2C: Business 2 Consumer is the transactional relationship between a business and an individual consumer.
Buying Criteria: All the information a consumer needs to make a buying decision.
Conversion Rate: Percentage of people who complete the desired action on a single web page, such as filling out a form.
Customer Relationship Management (CRM): Software and business processes companies use to track customer and prospect interactions.
Decision-Maker: The person who makes the final decision of a sale.
Feature: A product’s distinguishing characteristic that helps boost appeal to consumers.
Forecasting: Estimating future sales performance for a period based on historical data.
Gatekeeper: A person who enables or prevents information from getting to other people, usually decision-makers or influencers.
Lead: A person or company who’s shown interest in a product or service and is considered a possible sales prospect.
Objection: A prospect’s challenge to a product or service’s benefits. Almost every sale will involve overcoming objections.
Pipeline: A report of all possible and incoming sales, usually divided into stages for each step in the sales process
Prospecting: The process of seeking and finding potential buyers.
Quota: The assigned sales goal a sales rep is expected to meet over a given time frame.
Sales Funnel: The customer journey from prospect to purchase, including stages known as the top, middle, and bottom of the funnel.
Service Level Agreement (SLA): An agreement that defines the level of service a customer should expect from a vendor.
Stage: Phases of the sales pipeline representing each step in the sales process.
Up-Selling: When a sales rep persuades a customer to purchase a higher-end version of the product they own or are considering purchasing.
Value Proposition (Value prop): A benefit of a product or company intended to differentiate its value from competitors.