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Sales Enablement: The strategic, ongoing process that equips all client-facing employees with the ability to consistently and systematically have a valuable conversation with the right set of customer stakeholders.
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CRM (Customer Relationship Management): A technology for managing all your company’s relationships and interactions with customers and potential customers.
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Lead Generation: The initiation of consumer interest or inquiry into products or services of a business.
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Sales Pipeline: A visual representation of sales prospects and where they are in the purchasing process.
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Sales Coaching: Ongoing and personalized training for salespeople, provided by sales managers or external professionals.
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Sales Strategy: A plan by a business or individual on how to go about selling products and services and increasing profits.
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Account-Based Marketing (ABM): A strategic approach to business marketing in which an organization considers and communicates with individual prospect or customer accounts as markets of one.
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Content Management: The process of collecting, delivering, retrieving, governing, and managing information in any format.
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Sales Analytics: The practice of generating insights from sales data, trends, and metrics to set targets and forecast future sales performance.
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Customer Segmentation: The process of dividing a customer base into groups of individuals that are similar in specific ways relevant to marketing, such as age, gender, interests, and spending habits.
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Value Proposition: An innovation, service, or feature intended to make a company or product attractive to customers.
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Sales Process: A set of repeatable steps that a salesperson takes to move a prospect from an early-stage lead to a closed customer.
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Sales Cadence: The sequence of activities a salesperson follows to connect with a prospect.
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Buyer Persona: A semi-fictional representation of your ideal customer based on market research and real data about your existing customers.
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Sales Playbook: A document outlining your sales team’s strategy, high-level tactics, and processes.
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Sales Training: The process of improving seller skills, knowledge, and attributes to drive seller behavioral change and maximize sales success.
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Sales Automation: The use of software to automate repetitive tasks, minimize manual work, and organize sales data.
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Sales Funnel: The process that companies undergo when selling a product to a customer, from lead generation to closing the sale.
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Prospecting: The first step in the sales process, which consists of identifying potential customers, aka prospects.
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Sales Quota: A target number set by a manager or company for a salesperson to achieve in a specific period.
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Lead Scoring: The process of assigning values, often in the form of numerical points, to each lead you generate for the business.
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Sales Engagement: The interactions that take place between a buyer and seller which can occur over various channels and methods.
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Sales Forecasting: The process of estimating future sales and is a key component of business management.
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Sales Metrics: Standards of measurement by which efficiency, performance, progress, or quality of a plan, process, or product can be assessed.
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Social Selling: Using social media platforms to find and engage with new prospects. Sales professionals use social media to provide value by answering prospect questions and offering thoughtful content.
Understanding these terms is vital for anyone involved in sales, marketing, or related fields, as they provide a foundation for strategies and practices aimed at improving sales performance and efficiency.
