Sales Definitions

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    Annual Recurring Revenue (ARR)

    Repeating income — often subscription-based — for one calendar year.

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    Churn

    The percentage of customers who cancel a product or service or leave within a specified time period.

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    Cold Calling

    Approaching prospective clients by phone or face-to-face without having ever had any interaction with them before.

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    Customer Relationship Management (CRM)

    Software that helps you organize all of your marketing and sales activities, including storing contact information, tracking emails, storing deals, and more.

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    Dark

    A term used to describe a prospect who no longer responds to any type of communication.

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    Deal Closing

    A prospect agrees to purchase a product or service and completes a sales transaction

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    Discovery Call

    The very first call with a prospect. The purpose is to find out if they’re a good fit to work with your organization.

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    Forecasting

    A prediction of marketing and sales trends that are likely to occur in the future. This forecast is based on historical, quantitative, and qualitative data.

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    Lead

    An individual or a company that has shown interest in one of your products or services. Could be either a MQL (Marketing Qualified Lead) or an SQL (Sales Qualified Lead).

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    Lifetime Customer Value (LTV)

    A prediction of the net profit attributed to the entire future relationship with a customer.

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    Margin

    The profit gained from a product or service after all expenses for selling that product or service are covered.

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    Point Of Contact (POC)

    The representative who is the decision-maker/facilitator for their organization in terms of marketing and sales.

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    Portfolio

    A series of case studies that provide proof of value to potential customers.

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    Sales Accepted Leads (SALs)

    Leads formally accepted by the sales team for qualification according to your service-level agreement (SLA).

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    Sales Funnel

    The entire sales process as a whole – from prospect to paying customer – and all marketing, advertising and sales processes in between.

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    Sales Qualified Leads (SQLs)

    Leads qualified by the sales team as opportunities moved into the seller’s pipeline.