Sales terms

Question 1

Lead

Answer 1

A company or person who’s shown interest in a product, service, or idea.

Question 2

Prospect

Answer 2

A potential customer/client who has buying authority, the financial capacity, and willingness to buy.

Question 3

Suspect

Answer 3

Everyone in your target audience who could potentially buy.

Question 4

Sales Qualified Lead (SQL)

Answer 4

A prospective customer that has been researched and is deemed ready for the next stage in the sales process.

Question 5

Close Rate/Ratio

Answer 5

The number of deals you close compared to the number of presentations you make.

Question 6

BANT

Answer 6

Acronym for Budget, Authority (meaning decision maker), Need (prospect has a problem/need for your solution), Time (prospect has a time frame for solving their problem/making the purchase decision). This is a system for ranking leads.

Question 7

Sales Pipeline

Answer 7

A visual representation of sales prospects and where they are in the purchasing process.

Question 8

Sales Dashboard

Answer 8

An easy-to-read graphical representation of sales data that’s intended to enable sales managers to make better decisions.

Question 9

CRM

Answer 9

Acronym for Customer Relationship Management. CRM is a term that refers to practices, strategies, and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers.

Question 10

Call-to-Action

Answer 10

A type of web link that encourages a website visitor to visit a landing page and become a lead.

Question 11

CMS

Answer 11

Short for Content Management System. CMS is a web application designed to make it easy for non-technical users to create, edit, and manage a website.

Question 12

CPL

Answer 12

Acronym for Cost-per-Lead. The amount it costs your organization to acquire a lead.

Question 13

Dynamic Content

Answer 13

A way to display different messaging on your website based on the information you already know about the visitor.

Question 14

Lead Nurturing

Answer 14

The practice of developing a series of communications that seek to qualify a lead and keep it engaged.

Question 15

Lifecycle Stages

Answer 15

These divisions serve as a way to describe the relationship yo have with your audience, and can generally be broken down into three stages: awareness, evaluation, and purchase.

Question 16

LTV

Answer 16

Acronym for Lifetime Value. A prediction of the net profit attributed to the entire future relationship with a customer.

Question 17

Offer

Answer 17

Content assets that live behind a form on a landing page to help marketers generate leads for your business.