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Sales dictionary

Prospecting:
is the process of initiating and developing new business by searching for potential customers, clients, or buyers for your products or services. The goal is to move these prospects through the sales funnel until they convert to revenue-generating customers.

Leads:
Are potential customers who've expressed interest in your company through behaviors like visiting a website, subscribing to a blog, or signing up for a free trial.

Prospects:
Are leads that are qualified and, therefore, align with your target audience and buyer personas.

Qualifying dimensions:
A set of criteria to evaluate the probability that a lead or prospect will become a customer

CRM (customer relationship management):
Software that allows companies to keep track of their potential and existing customers at whichever stage they may assume in the sales cycle

Gatekeeper:
Person in charge of communicating or preventing information from reaching a decision-maker; for example, receptionists or personal assistants

Decision-maker:
The person in charge of making a final decision on the sale. We usually have to go through a gatekeeper to reach them

Discovery call:
The first contact a sales rep makes with a prospect to qualify them as a lead for the next step in the sales cycle

Pain point:
A prospect’s business need. This is what sales reps must identify to provide value and move them farther along in the sales cycle

Objection:
A prospect’s challenge leading to opposing a product or service, i.e. budget, time constraints.

Closed-won:
When the buyer purchases a product or service from the sales rep

Closed-lost:
When the buyer fails to purchase a product or service from the sales rep

Closing ratio:
Ratio of prospects that a sales rep closes and wins.