Sales Glossary
Glossary Terms
A/B Testing
Comparing two versions of a webpage, email, or other marketing asset to determine which one performs better.
ABC (Always Be Closing)
The sales version of the ABCs emphasizes the importance of always looking for opportunities to close a deal.
Accidental Reply-All Catastrophe (ARAC)
A disastrous yet common phenomenon where a sales rep accidentally sends a sensitive or embarrassing email to the entire company, leading to a blend of horror and instant fame.
Account Executive (AE)
A sales role primarily responsible for closing deals and generating revenue.
Account Management
The practice of maintaining and nurturing relationships with existing clients to retain their business and potentially secure additional sales.
Account Manager
A sales role responsible for managing relationships with specific customers and retaining their business.
Account
A customer or potential customer who purchases or may purchase goods or services from a company.
Accountability
Sales professionals and teams take responsibility for their actions, decisions, and performance. It encompasses the commitment to meet sales targets, follow through on client promises, adhere to company policies and strategies, and continuously seek ways to improve skills and outcomes.
Account-Based Marketing (ABM)
A strategic approach to marketing in which an organization considers and communicates with individual prospects or customer accounts as markets of one.
Acquisition Cost
The total cost of acquiring a new customer includes all marketing and sales expenses.
Action Plan
A detailed plan outlining the steps necessary to achieve a specific goal often used in sales to organize efforts to meet targets.
Active Listening
A communication technique used in sales to fully concentrate, understand, respond, and then remember what is being said by prospects or clients.
Advocate
A satisfied customer who supports and promotes a company’s products or services to other potential customers.
Agonizing Pipeline Syndrome (APS)
A common condition where sales reps stare at their sales pipeline, hoping it will magically fill itself with qualified leads without any additional effort.
AIDA (Attention, Interest, Desire, Action)
A classic marketing model that describes the steps a customer goes through in the purchasing process.
Alignment
Ensuring the sales teams work towards common goals and strategies with their prospects and clients.
Analytics
The discovery, interpretation, and communication of meaningful patterns in data; in sales, it often refers to data analysis to improve decision-making and performance.
Annual Recurring Revenue (ARR)
The amount of money that a company expects to receive from its customers annually for providing them with a product or service.
Anti-Gravity Commission Plan (AGCP)
A commission structure so complex and elusive it defies the laws of physics and mathematics, making it nearly impossible for sales reps to calculate their earnings.
Anxiety-Driven Follow-Up Disorder (AFUD)
The uncontrollable urge to send follow-up emails minutes after the first message is driven by hope and desperation.
Applause-Inducing Pitch (AIP)
A sales pitch so perfectly crafted and delivered it causes clients to spontaneously burst into applause, immediately followed by signing a contract.
Appointment Setting
Contact potential customers to arrange a discovery meeting or call.
Artificial Deadline Generator (ADG)
A fantastical tool that creates seemingly urgent deadlines for deals that need a nudge, convincing prospects to act swiftly or miss out.
Ask for the Order
A sales technique where the salesperson directly requests the prospect to make a purchase decision, aiming to close the deal by encouraging the client to take the final step in the buying process.
Assets
Anything of value that a company owns, including products, intellectual property, and customer relationships, which can be used to generate revenue.
Assumptions
Beliefs or ideas are taken as true without concrete evidence, often regarding potential customer needs, preferences, or behaviors. These preconceived notions can impact the sales approach and strategy, potentially leading to misalignment with actual customer requirements if not validated through research and direct communication.
Assumptive Close
A sales technique where the salesperson assumes that the customer has already agreed to buy and moves forward with the steps to complete the sale.
Attrition Rate
The rate at which customers stop doing business with a company. See: Churn Rate.
Authority
In sales, the level of power or influence a contact has within their organization to make purchasing decisions.
Average Deal Size
The average value of the sales deals closed by a company over a specific period.
Average Lead Response Time
The average time it takes for a sales team to follow up with a lead after they have shown interest.
Awareness Stage
The initial stage in the buyer’s journey where potential customers become aware of a problem or need.
Awkward Silence Amplifier (ASA)
A mythical device believed to increase the discomfort of silence during sales calls, forcing the prospect to break it by agreeing to a meeting or a deal.
BANT (Budget, Authority, Need, Timeline)
A sales qualification framework used to identify and pursue leads.
Benchmarking
The process of measuring a company’s performance, practices, and products against those of competitors or industry standards to identify areas for improvement.
Benefit Selling
A sales approach focused on communicating the benefits of a product or service to potential customers, rather than just its features, to address the customer’s needs and challenges better.
Bonding
The process of building a strong, trust-based relationship with prospects or clients, facilitating open communication and understanding to enhance customer loyalty and long-term engagement.
Break-even Point
The point at which total cost and total revenue are equal means the business is neither making nor losing money on a product or service.
Budget
Estimate of income and expenditure for a set period of time, outlining what financial resources are available for specific activities or projects, including sales and marketing efforts.
Bundle Selling
A sales strategy that involves offering several products or services as a package deal, often at a discounted price compared to purchasing each item separately.
Business Development
Identifying, nurturing, and acquiring new clients and business opportunities to drive growth and profitability.
Buyer Facilitator
Unlike a traditional salesperson, a Buyer Facilitator helps their prospects and clients discover their needs, urgency, timeline, and decision process. The buyer-facilitator mindset transforms how you behave and what you believe.
Buyer Persona
A semi-fictional representation of your ideal customer based on market research and real data about your existing customers.
Buying Signals
Actions or statements by a prospect indicating they are close to making a purchase decision.
Buzzword Bingo (BB)
A game silently played during sales meetings or conferences, marking off overused industry jargon until someone silently yells “Bingo!” in their head.
Carry a Bag
A salesperson who is actively and directly responsible for generating sales, meeting quotas, and building relationships with customers. The phrase originates from salespeople carrying a bag (literally or figuratively) containing product samples, brochures, contracts, or other materials needed to make presentations and close deals.
Channel Sales
A sales model that involves third-party companies or partners (such as distributors, affiliates, or resellers) to sell the company’s products or services.
Churn Rate
The percentage rate at which customers stop subscribing to a service or stop purchasing products over a given time period. See: Attrition Rate
Client Investment
The financial and emotional commitment made by customers in purchasing and implementing a company’s products or services reflects their trust and expectations in achieving desired outcomes.
Client Onboarding
The process of welcoming new clients into your business, addressing their questions and concerns, and ensuring they understand the services available to them.
Client Relationship Management (CRM)
Technology for managing a company’s relationships and interactions with potential and existing customers.
Close Rate
The percentage of deals closed compared to the number of leads or proposals.
Closing Techniques
Strategies or methods salespeople use to persuade a prospect to make a purchase.
Coffee Cup Carousel
The essential morning ritual of rotating through an array of motivational-quote-adorned coffee cups, each promising to boost sales figures (or at least caffeine levels).
Coffee is for Closers
A phrase implying that only successful salespeople (those who close deals) are worthy of the reward (in this case, coffee).
Cold Calling
The process of approaching prospective customers, typically by phone or door knocking, who have not expressed prior interest.
Commission
The compensation or financial incentive for salespeople is based on the sales they make.
Commission Mirage
The phenomenon where a seemingly lucrative deal appears on the horizon, promising vast commissions, only to vanish upon closer inspection or effort.
Consultative Selling
A sales approach where the salesperson acts as an advisor, focusing on understanding and addressing the specific needs and challenges of the prospect to provide personalized solutions.
Contract Negotiation
The process of give and take parties go through to reach an agreement.
Conversion Rate
The percentage of prospects who take a desired action, such as purchasing or requesting more information.
Cross-Selling
Selling additional products or services to an existing customer.
Customer Acquisition Cost (CAC)
The cost associated with convincing a customer to buy a product/service.
Customer Lifetime Value (CLV)
The total worth of a customer’s business over the whole period of their relationship.
Customer Relationship Management (CRM)
A technology for managing all your company’s relationships and interactions with current and potential customers aimed at improving business relationships.
Dashboard
A visual interface displays important data and sales performance metrics, enabling quick insights and decision-making.
Data Mining
The process of analyzing large datasets to identify patterns, trends, and relationships within the data that can inform business strategies and decisions.
Deal Desert
The terrifying expanse of time where not a single sale seems to close, and the sales team starts considering if they’ve forgotten how to sell or if customers have forgotten how to buy.
Deal Flow
The rate at which investment offers, or business proposals are received.
Debrief
A meeting or discussion held after a client interaction, presentation, or sales cycle to review performance, outcomes, and lessons learned for continuous improvement.
Decision Criteria
The specific factors or standards that prospects or customers use to evaluate and choose among different options when making a purchasing decision.
Decision Maker
The person who makes the final purchasing decision in a business.
Demo
A demonstration of a product or service to a prospect or customer.
Direct Sales
The selling of products and services directly to consumers, without any intermediary.
DISC
A personal assessment tool used in sales to understand behavioral styles, including Dominance, Influence, Steadiness, and Conscientiousness, to improve communication, sales presentations, and customer relationships.
Discounting
The practice of reducing the price of products or services to attract customers or close sales deals more quickly.
Don’t Name the Puppy
A sales adage advises against becoming too emotionally attached to a deal or prospect, as this can cloud judgment and lead to disappointment if the sale does not close.
Doughnut Incentive
The use of doughnuts, or the promise thereof, to boost sales team morale on Monday mornings or after a particularly rough patch of rejections.
Draw
Advance payment is made to salespeople against their future commissions, providing immediate income with the expectation of being “repaid” through earned commissions.
Dynamic Pipeline
A constantly updating visualization of a salesperson’s or team’s active opportunities and leads, reflecting real-time changes in stages, priorities, and statuses to aid sales strategy and forecasting.
Early Adopter
A customer who purchases and uses a product or service shortly after it has been launched, often before it has been widely adopted.
Earnings Before Interest, Taxes, and Amortization (EBITA)
A measure of company profitability used by investors. It helps compare one company to another in the same line of business. It can also provide a more accurate view of a business’s value in some cases.
Elevator Pitch
A brief, persuasive speech used to spark interest in what your organization does. At Topaz we’ve modernized this “pitch” into a Stand Out Introduction.
Email Echo Chamber
The virtual space where all your carefully crafted sales emails seem to bounce around endlessly without finding a landing spot in a prospect’s inbox.
Empowering Beliefs
Positive and motivating convictions held by sales professionals that drive their behaviors and attitudes toward success, resilience, and achieving their goals.
Empty Suit
A representative who looks good and talks smoothly but has little to no substance or does not produce results.
Engagement
Interactions between a brand and its prospects or customers are often measured by activities such as likes, shares, or comments on digital platforms.
Enterprise Selling
Selling products or services to large organizations through long sales cycles and complex decision-making processes.
Escalation
Addressing customer complaints or issues by moving them to higher levels of authority within the organization for resolution.
Feature-Benefit Selling
A sales technique that involves highlighting the features of a product or service and clearly explaining how these features translate into benefits for the customer.
Feature Dump
A common mistake in sales pitches is when the salesperson overwhelms the prospect with every possible product or service feature rather than focusing on what’s most relevant to the prospect’s needs.
Feature Frenzy
A state of wild or violent excitement among sales reps when a new feature is released, believing it to be the magic bullet that will close every deal hereafter.
Feedback Loop of Doom
The endless cycle of seeking, receiving, and attempting to implement conflicting feedback on sales strategies until the original strategy is no longer recognizable.
Field Sales
The practice of selling products or services outside a traditional office environment, often in person at a client’s place of business.
First Discovery Call
An initial conversation between a salesperson and a potential customer, aimed at gathering key information about the customer’s needs, challenges, and suitability for the product or service being offered.
Follow-Up
Continuing a conversation or process with a prospect or customer after the initial contact or meeting to keep the relationship moving toward a sale.
Forecasting
Making predictions about future sales performance based on historical data and analysis.
Free Consulting
Offering expert advice or services without charge can potentially devalue their expertise and lead to expectations of continued free assistance without guaranteeing future sales.
Free Trial
A promotional offer that allows potential customers to use a product or service free of charge for a limited time to evaluate its benefits before making a purchase decision.
FUD (Fear, Uncertainty, and Doubt)
A disreputable sales or marketing strategy where a company tries to influence perception by spreading negative and dubious or false information about competitors.
Funnel
The process or stages a prospect goes through, from initial awareness of a product or service to becoming a customer and beyond.
Gatekeeper
An individual who controls access to decision-makers and influencers in a company.
Ghosted
Refers to a situation where a prospect or client suddenly stops responding to communication attempts without explanation, leaving the salesperson without feedback or further engagement.
Glengarry Lead
Highly qualified leads, a reference to the prized leads in the play and movie “Glengarry Glen Ross.”
Go For the No
A sales strategy that encourages pursuing rejection as a means to clarify customer needs and objections, ultimately leading to more effective selling and potential conversions.
Going for the Yes
A sales approach focused on achieving a positive outcome or agreement from the client, utilizing persuasive techniques and strategies to secure a commitment or sale.
Ground Rules
The agreed-upon principles or guidelines are established at the beginning of a sales interaction or meeting to ensure clear communication, mutual respect, and a productive dialogue between the salesperson and the client.
Gross Margin
The difference between revenue and cost of goods sold, divided by revenue, expressed as a percentage.
Growth Hacking
A marketing technique developed by startups and tech companies, focusing on rapid growth, using unconventional and cost-effective strategies, often applied within sales to quickly increase revenue.
Happy Ears
When salespeople hear what they want to hear from a prospect, they often mistake politeness or vague interest for a sure sale.
Hard Sell
An aggressive sales strategy that applies pressure on the prospect to make a purchase, often through persistence and strong, direct language.
Hibernation Mode Customer
The customer who goes into deep slumber immediately after showing initial interest (not to be awakened until the next fiscal year or a significant product update).
High Touch
A sales approach involving personalized and attentive customer interaction and is often used for complex or high-value sales.
Hunting
The proactive process of seeking out and engaging new prospects or leads to generate new business and expand the customer base.
Hyperbolic Discounting
The ancient art of dramatically slashing prices in the final hours of the quarter, making deals irresistible to anyone within an email blast radius.
Hype-ventilation
The act of getting overly excited about a new product or feature to the point where you need a paper bag to calm down before presenting it to customers.
Icebreaker Implosion
When your attempt to start a sales call with a fun fact or joke lands with such a thud that it creates a conversational black hole, from which recovery is impossible.
Ideal Customer Profile (ICP)
A detailed description of a fictitious organization that represents the perfect customer for what your company sells used to target marketing and sales efforts more effectively.
Inbound Sales
Sales activities that draw customers in rather than reaching out to them (opposite of outbound sales).
Inbox Invaders
The relentless barrage of follow-up emails sent by a sales rep occupying every corner of a prospect’s inbox until surrender (or a spam filter victory) is inevitable.
Infinite Pipeline Illusion
The chronic optimist’s belief that their sales pipeline is always brimming with opportunities, despite evidence to the contrary.
Influencer
A person or group that can influence the actions or opinions of prospects or customers.
Inside Sales
Selling products or services from an office via phone, email, or the Internet instead of meeting clients face-to-face.
Intangible Benefits
Non-physical product or service advantages, such as convenience, satisfaction, or peace of mind, can be challenging to quantify but are significant to the buyer.
Integrated Sales and Marketing
A strategy that aligns and unifies sales and marketing efforts, ensuring that both departments work towards common goals and communicate consistently with prospects and customers.
Interactive Selling
A dynamic and engaging sales approach that involves active participation from the prospect, often through presentations, demos, or discussions.
International Sales
The process of selling products or services to customers in different countries, navigating the complexities of different markets, cultures, and regulations.
Internet of Things (IoT) Sales
Selling connected devices and systems that collect and exchange data over the internet, opening new avenues for product and service offerings.
Intro-Jitsu
The delicate art of crafting an introduction email that skillfully dodges spam filters captivates the recipient, and lands a meeting, all without breaking a sweat.
Introductory Offer
A special, usually temporary, deal designed to introduce new customers to a product or service, often at a lower price or with added benefits to encourage trial and adoption.
Investment Selling
A sales approach where the focus is on the long-term benefits and returns of the product or service, positioning it as an investment rather than a cost.
Invoice
A document issued by a seller to a buyer that specifies the amount of products or services provided and the amount of money owed for them.
Jargon Juggler
A sales professional who skillfully incorporates as much industry-specific lingo into a conversation as possible, often leaving clients bewildered and reaching for a dictionary.
Journey Mapping
Creating a visual representation of the customer’s journey to understand their experiences and interactions with your brand from initial contact through engagement and into a long-term relationship.
Joyful Dialing
The rare but euphoric state where a sales rep actually enjoys making cold calls, typically occurring after a particularly strong cup of coffee or closing a big deal.
Junkyard Dog
A relentless salesperson who is aggressive in their tactics and won’t take no for an answer.
Just-In-Time (JIT) Selling
A sales strategy that aligns the offering of products or services with the precise moment a customer is ready to buy, reducing waste and increasing efficiency.
Key Account
A significant customer account that contributes a substantial portion of a company’s revenue, often receiving special attention and resources due to its importance.
Key Performance Indicator (KPI)
A measurable value demonstrates how effectively a company achieves key business objectives.
Key Selling Points
The most attractive aspects of a product or service are highlighted in sales pitches to persuade potential customers of its value.
Kitchen Sink Closing
Throwing in everything but the kitchen sink to close the deal, often including lots of extras or discounts.
Knock-Knock Negotiator
A salesperson who starts every sales negotiation with a knock-knock joke, believing humor is the key to unlocking any deal.
Knowledge Management
Capturing, distributing, and effectively using knowledge within an organization is crucial in sales to ensure all team members have access to the information they need to sell effectively.
Lead
A person or organization that has shown interest in a product or service, potentially becoming a customer.
Lead Generation
The initiation of consumer interest or inquiry into products or services of a business.
Lead Limbo
The mysterious zone where potential leads go when they’re not quite dead but not exactly alive, leaving sales reps to wonder if they’ll ever cross into the realm of actual opportunities.
Lead Nurturing
The process of building relationships with prospects with the goal of earning their business when they are ready.
Lead Qualification
The process of determining whether a potential customer meets the criteria to purchase your product or service.
Lead Scoring
A methodology used to rank prospects against a scale that represents the perceived value each lead represents to the organization.
Legendary Lead List
A mythical list of leads rumored to be so hot that simply calling them guarantees a sale, believed to be guarded by the top sales rep at the company.
Leverage
Using something to maximum advantage to advance the sales process or achieve a goal, such as leveraging a customer testimonial to build trust with a prospect.
Lifetime Value (LTV)
The total net profit a company makes from any given customer.
Listening
A critical skill in sales involving actively paying attention to the client’s words to better understand their needs and concerns.
Loss Leader
A product sold at a loss to attract customers with the expectation that the loss will be recouped through the sale of additional products or services.
Low-Hanging Fruit
The easiest prospects to convert into customers, requiring the least effort to close.
Low-Hanging Fruit Loop
The salesperson who only goes after the easiest targets is often found circling the same few leads who show even the slightest interest.
Market Penetration
The extent to which a product is recognized and bought by customers in a particular market.
Marketing Qualified Lead (MQL)
A lead is judged more likely to become a customer than leads based on lead intelligence.
Meeting Marathoner
A salesperson who back-to-back books meetings as if training for an endurance event, believing the path to sales success is paved with calendar invites.
Mentor
Experienced professional who provides guidance, knowledge, and support to less experienced salespeople, helping them develop skills, strategies, and professional growth within the industry.
Metrics
Standardized measurements used to quantify and evaluate the effectiveness of sales activities and performance.
Milestone-Centric Sales Process
A structured approach to selling that identifies and focuses on achieving specific, significant events or achievements within the sales cycle to advance the deal toward closure.
Miracle Close
The rare and mystical event where a deal closes itself without effort leaves the sales team in awe and slightly confused about what just happened.
Mirroring
A technique where the salesperson copies the prospect’s body language, speech patterns, or attitudes to build rapport and foster a sense of trust and familiarity.
Mobile Sales
Sales activities conducted through mobile devices, such as smartphones and tablets, leveraging mobile-specific technology and applications.
Momentum Mirage
The illusion of progress when there’s a flurry of activity (calls, emails, meetings) but no actual movement towards closing any deals.
Monday Morning Quarterback
Someone who criticizes or suggests better sales strategies after the fact.
Monthly Recurring Revenue (MRR)
The amount of revenue a subscription-based business expects to receive every month.
Motivational Meme Maestro
The team member responsible for sending out daily sales motivational memes, believing that the right image and quote combo is the key to unlocking sales potential.
Multi-Channel Selling
The practice of selling products or services across multiple online and offline sales channels to reach a wider audience.
Needs Analysis
A process used in sales to understand and assess a prospect’s requirements to effectively propose a solution that meets those needs.
Negotiation
The process in which two or more parties with different needs and goals discuss an issue to find a mutually acceptable solution, often involving the discussion of terms and conditions of a sale.
Net Promoter Score (NPS)
A metric used to measure customer satisfaction and loyalty by asking customers how likely they are to recommend a product or service to others.
Networking
The act of interacting with others to exchange information and develop professional or social contacts, crucial in sales for lead generation and relationship building.
New Business
Sales and activities focused on acquiring new customers instead of selling to existing ones.
Next-Best Action (NBA)
A sales strategy that uses customer data to predict their next move and suggests the best action for a sales rep to take to close a deal.
Niche Market
A narrowly defined group of potential customers that specifically addresses the needs and preferences of a targeted segment, allowing for more focused and effective marketing and sales strategies.
Ninja
A salesperson who is incredibly skilled and can get in and out of a sales situation without any issues. Also: See Buyer Facilitator
Non-Revenue Targets
Objectives in a sales plan that do not directly generate revenue but are essential for the sales process, such as customer satisfaction scores or market penetration rates.
No-Decision Loss
A sales situation where a potential deal is lost not to a competitor but because the prospect decides against making any purchase.
Nurture Campaign
Marketing efforts are designed to maintain engagement with leads who are not yet ready to buy, and to convert them into customers eventually.
Objection Handling
Addressing and overcoming potential objections a prospect might have about your product/service.
Objection
A prospect’s challenge to or rejection of a product or service’s benefits.
Onboarding
The process of integrating a new customer with a product or service.
One-Legged Duck
A deal that seems to be going in circles and not getting anywhere.
Opportunity
A qualified lead that is being pursued by sales.
Opportunity Overload
The mythical state where a salesperson has so many qualified leads, they have to use eeny, meeny, miny, moe to decide whom to call first.
Outbound Sales
The traditional model where sales representatives initiate contact with prospects through cold calls, emails, or visits.
Pain Points
Specific problems that prospective customers of your business are experiencing that a good Buyer Facilitator will uncover and help make go away.
Paper Jockey
A salesperson who spends more time on paperwork or administrative tasks than actual selling.
Performance Review
A formal assessment where a salesperson’s job performance, including sales achievements, skills, and areas for improvement, is evaluated against predetermined goals and criteria.
Personal Action Plan
An individualized strategy developed by a salesperson, outlining specific goals, actions, and timelines to improve performance and achieve sales targets.
Pipeline Management
Managing and overseeing the sales pipeline to ensure deals are progressing and sales targets are being met.
Pipeline
A visual representation of where prospects are in the sales process.
Pre-Call Planning
Preparing for a sales call by researching the prospect, setting objectives, and developing questions and conversation points to maximize the effectiveness of the interaction.
Product Demo
A demonstration of how a product works, typically to a potential customer or client.
Product Knowledge
Understanding the features, benefits, and functions of the product you are selling.
Prospect
A potential customer who has been identified as fitting specific criteria.
Prospect Procrastination
The art of finding every possible task other than reaching out to new prospects, including cleaning the office coffee machine thrice in one day.
Prospecting
The process of identifying and reaching out to potential customers.
Purchase Order
An official document issued by a buyer committing to pay the seller for the sale of specific products or services to be delivered in the future.
Qualification
The process of assessing whether a lead has the potential to become a customer based on certain criteria.
Qualifier Checklist
The exclusive tool used by Buyer Facilitators consists of criteria or questions to assess whether a prospect is a suitable match for their product or service, ensuring efficient allocation of sales efforts.
Qualifying Questions
Specific questions used to determine if a prospect needs your product or service and if they are a decision-maker.
Quota
A salesperson or team must achieve a set sales target within a specified time frame.
Quota Crusher
A salesperson who consistently exceeds their sales targets.
Quota Quandary
The existential crisis salespeople face at the end of the quarter, wondering if their sales quota is actually a mythical creature they’re chasing.
Quote
A formal statement of promise by a seller to supply goods or services at a specified price.
Quote and Hope
The act of giving a quote to a prospect and then doing nothing but hoping they’ll decide to purchase.
Rapport Building
The process of creating a positive relationship with prospects or customers characterized by mutual respect, trust, and understanding.
Recipe for Success
Exclusive Buyer Facilitator tool with a proven set of strategies, practices, and behaviors that, when followed, significantly increase the likelihood of achieving sales goals and success.
Recurring Revenue
The portion of a company’s revenue that is expected to continue in the future on a consistent basis, often associated with subscription-based models.
Referral
Business that is given to a company by a satisfied customer.
Rejection
The refusal by a prospect or customer to purchase a product or service. A common occurrence in sales that professionals must learn to navigate.
Rejection Rebound
The incredible ability of a salesperson to bounce back from rejection with the enthusiasm of a toddler on a sugar rush.
Relationship Selling
A sales approach focused on building a relationship with the customer rather than just completing a transaction.
Renewal Rate
The percentage of customers who renew their subscriptions or contracts.
Request for Proposal (RFP)
A document issued by a potential buyer to solicit proposals from vendors for the procurement of products or services.
Retention Rate
The percentage of customers a company keeps relative to the number it had at the start of the period.
Return on Investment (ROI)
A measure used to evaluate the efficiency or profitability of an investment.
Revenue Target
The specific amount of revenue that a company aims to achieve in a certain period.
RFP (Really Frustrating Process)
The feeling of dread that washes over sales teams when a request for proposal lands on their desk, signaling the start of an epic journey through paperwork and hoop-jumping.
Road Warrior
A salesperson who spends most of their time on the road, visiting prospects and clients.
Role Practice
Training exercises where Buyer Facilitators practice the steps in the sales process by acting out scenarios as the buyer and Buyer Facilitator to develop communication skills, objection handling, setting ground rules, and uncovering sales pain.
Rookie Rainmaker
A new sales rep who, through a combination of luck and sheer determination, lands a huge deal, leaving veterans wondering if they missed a secret sales training.
Sales Analytics
The practice of using data to understand sales performance and to improve planning and forecasting.
Sales Coaching
The process of developing and enhancing a salesperson’s skills, knowledge, and attributes to drive sales performance.
Sales Consultant
Professional who provides expertise and guidance to improve a company’s sales processes, techniques, and results, often offering tailored advice to enhance effectiveness and efficiency in sales operations.
Sales Cycle
The series of predictable phases required to sell a product or a service.
Sales Development Representative (SDR)
A type of inside sales rep that focuses solely on outreach, prospecting, and qualification.
Sales DNA
The inherent qualities, traits, and instincts contribute to an individual’s natural ability and effectiveness in sales roles, influencing their approach to selling and interacting with clients.
Sales Enablement
The technology, processes, and content that empower sales teams to sell efficiently at a higher velocity.
Sales Evaluation
A comprehensive analysis of a salesperson’s or team’s performance, techniques, and strategies used to identify strengths, areas for improvement, and growth opportunities.
Sales Funnel
The process that companies lead customers through when purchasing products, from the initial stages of contact to the final sale.
Sales Operations
The division within a business charged with ensuring the efficiency and effectiveness of a company’s sales.
Sales Pipeline
The visual or conceptual representation of where prospects are in the sales process.
Sales Planning
The process of organizing and strategizing how to sell products or services effectively.
Sales Presentation
A line of talk that attempts to persuade someone or something with a planned sales presentation strategy for a product or service.
Sales Philosophy
The underlying beliefs and principles guide a salesperson’s or organization’s approach to selling, shaping how they interact with clients, manage relationships, and pursue business goals.
Sales Process
Set of repeatable steps that a sales team follows to move a prospect from an initial stage of awareness to a completed sale, ensuring consistency and efficiency in achieving sales goals.
Sales Qualified Lead (SQL)
A prospective customer that has been researched and vetted by the sales team and is deemed ready for the next stage in the sales process.
Sales Quota
The specific sales or revenue target assigned to a salesperson or team within a certain time frame.
Sales Stages
Distinct phases within the sales process represent the progression of a prospect from initial contact through to the final decision, including stages such as prospecting, qualification, presentation, and closing.
Sales Strategy
A plan to achieve sales goals and objectives, including who will be targeted, how leads will be generated, and how sales will be closed.
Sales Velocity
The speed at which a business is gaining new customers and generating revenue.
Segmentation
The process of dividing a target market into smaller, more defined categories.
Self-Limiting Belief
A personal conviction that restricts a salesperson’s potential and performance by convincing them they cannot achieve certain goals or overcome specific challenges, often based on past experiences or fear of failure.
Smell of the Deal
The intangible excitement a salesperson senses when a deal is about to close.
Social Selling
The use of social media by salespeople to interact directly with their prospects.
Solution Somersaults
The acrobatic feats sales reps perform to present their product as the perfect solution to a problem the customer didn’t even know they had.
Solution Selling
A sales methodology that involves selling the customer a solution to their problem rather than just selling a product.
Spamouflage
The art of disguising a sales email to look like a personal message so well that it even fools the sender into thinking they’ve made a new friend.
Stakeholder
An individual or group that has an interest in any decision or activity of an organization.
Stand Out Introduction
Unique and memorable opening statement used by salespeople to capture a prospect’s attention and differentiate themselves from competitors right at the beginning of a sales interaction. Topaz Sales Consulting’s improved version of the elevator pitch.
Static Pipeline
A sales pipeline that remains unchanged over time, showing little to no movement of leads or deals progressing through the sales stages, often indicating a lack of engagement or follow-up.
Sticker Shock
The situation where a customer is scared off by the price of the product or service.
Supportive Buy Cycle
Sales approach that involves understanding the stages an individual customer goes through, from initial awareness to post-purchase evaluation offering guidance and assistance at each step to facilitate a decision and enhance the overall buying experience.
SWOT Analysis
A strategic planning technique used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.
Talkative Tracker
A CRM tool that seems to require more conversation and data entry from sales reps than the actual prospects do.
Target Market
A specific group of consumers identified as the recipients of a particular marketing message.
Team Sales Meeting
A regular gathering of sales personnel to discuss sales performance, strategies, goals, and challenges, aiming to foster team collaboration, alignment, and motivation.
Territory Management
The process of planning, organizing, and managing sales activities in a specific geographical area.
Thought Leadership
Content that is recognized by others as innovative, covering new ideas and trends that will lead to change within an industry.
Tire Kicker
A prospect who seems interested in a product or service but is actually just wasting the salesperson’s time.
Total Addressable Market (TAM)
The total market demand for a product or service.
Touchpoint
Any interaction or communication made between a brand and its customers.
Transactional Selling
A traditional sales model focused on short-term sales where the primary goal is to make the transaction, often with little emphasis on customer relationships.
Trusted Advisor
A sales professional who has built a relationship of trust and credibility with their clients, offering expert advice and solutions that genuinely meet the client’s needs and interests beyond just making a sale.
UFO Closing Technique
A rare and almost mythical technique that miraculously closes deals, much like an unidentified flying object.
Unicorn Upsell
The mythical moment when a customer not only agrees to the upsell but also thanks the sales rep profusely for the opportunity to spend more money.
Unique Selling Proposition (USP)
The factor or consideration presented by a seller as the reason that one product or service is different from and better than that of the competition.
Upselling
A sales technique where a seller induces the customer to purchase more expensive items, upgrades, or other add-ons in an attempt to make a more profitable sale.
User Experience (UX) Sales
The process of selling products or services by focusing on the experience the user will have, ensuring satisfaction, ease of use, and value from the user’s perspective.
Value Proposition
A statement that explains what benefit you provide for whom and how you do it uniquely well.
Vaporware
Products that are marketed while still in development and not yet ready to be sold.
Vendor
A party in the supply chain that makes goods and services available to companies or consumers.
Vertical Market
A market defined by a specific industry or sector, characterized by specialized needs and businesses that cater specifically to those needs.
Victory Lap Voicemail
The triumphant message a sales rep leaves for themselves after closing a big deal to be listened to on future bad days.
Visionary Vagueness
A sales strategy where the details of what the product can actually do are so abstract and forward-thinking that neither the rep nor the prospect fully understands it, but it sounds impressively innovative.
Volume Discount
A financial incentive to encourage individuals or businesses to purchase goods in multiple units or in large quantities, thereby reducing the price per unit.
Warm Call
Contacting a potential customer who has previously shown interest in the product or service, making them more likely to be receptive.
Webinar Lead Generation
The use of online seminars or webinars to generate interest and capture leads by providing valuable information or demonstrations related to the product or service.
Whale Hunting
Targeting very large accounts or clients, referred to as “whales,” which can significantly impact sales targets if successfully closed.
Whale Whisperer
A salesperson with the uncanny ability to land massive accounts through the mystical art of speaking the elusive language of big fish.
Widget Wizardry
The magical skill some salespeople claim to possess, enabling them to sell even the most mundane products as if they were enchanted items from a fantasy realm.
Wildcard Prospect
A potential customer whose needs or buying behavior doesn’t fit the typical customer profile but still represents a significant sales opportunity.
Win Rate
The percentage of deals closed successfully compared to the total number of deals.
Win-back Campaign
A targeted marketing effort aimed at re-engaging former customers, convincing them to return and make additional purchases.
Win-Win
A negotiation or deal where both parties benefit, enhancing the relationship and encouraging future business.
Workflow Automation
Technology that helps automate complex and repetitive tasks to enhance the efficiency of business processes.
Wrap-up Summary Close
A closing technique where the salesperson summarizes all the key benefits and agreements made during the sales conversation, reinforcing the value proposition and guiding the prospect toward making a decision.
X-Factor
The unique or special characteristic of a product, service, or salesperson that makes it or them stand out from the competition and appeal to customers.
X-Ray Vision
The ability of a seasoned salesperson to see through a prospect’s objections to understand their real issues or needs.
X-treme Networking
The act of connecting with potential leads in the most unlikely places, from yoga classes to skydiving trips, proving that sales opportunities know no bounds.
Year Over Year (YOY)
A method of evaluating two or more measured events to compare the results at one period with those from another (annually).
Yes-Man
A prospect who seems to agree with everything but doesn’t have the authority or intention actually to close the deal.
Yesterday’s News
The outdated sales strategies that some reps insist on using, blissfully unaware that the digital age has transformed the selling landscape.
Yield Management
A strategy in which prices are continuously adjusted based on various factors to maximize revenue, commonly used in service industries like airlines but also applicable in sales to optimize profits.
Yield Yielding
The paradoxical strategy of trying to increase sales by constantly giving discounts, which somehow never leads to the promised land of profit growth.
Zealous Advocate
A salesperson or customer so enthusiastic about the product or service that they promote it with great zeal, often influencing others’ decisions.
Zen Selling
A concept where salespeople adopt a calm, patient, and mindful approach to selling, focusing on building relationships and understanding needs rather than aggressive tactics.
Zenith Zoomer
The sales rep who has mastered the art of virtual selling, navigating through video calls with the finesse of a digital native, even when their cat crashes the meeting.
Zero-Based Budgeting (ZBB)
Method of budgeting in which all expenses must be justified for each new period.
Zigzag Zest
The energy and enthusiasm a salesperson exhibits when they navigate through objections and hurdles, bouncing back with even more creative solutions.
Zombie Lead
A lead that seemed dead or inactive but suddenly shows interest again, resurrecting the opportunity for a sale.
