Basic Sales Terms
Sales Metrics Terms
Sales Strategy Terms
Why is this important?
100
This term represents a customer for a business.
Account
(Indeed Editorial Team, 2023)
100
Numerical measurements that reflect how a business or individual employee is performing.
Key performance indicators (KPIs)
(Kelwig, 2022)
100
Process of identifying and understanding the customer's needs, pain points, and challenges, to determine how the product or service can meet those needs and provide value.
Needs audit
100
This sales metric can be used to predict future sales or make strategy adjustments.
Closing ratio
(Kelwig, 2022)
200
A plan for accomplishing sales goals.
Sales strategy
(Waweru, 2022)
200
A metric used to assess customer loyalty through a survey that asks customers how likely they are to recommend the business or product to someone they know.
Net Promoter Score® (NPS)
(Kelwig, 2022)
200
Concerns or reservations the customer raises may prevent them from purchasing from you are called _____.
Objections
200
This is a useful form of sales metrics that indicates the percentage of customers engaging with the sales process according to plan.
Conversion rate
(Waweru, 2022)
300
This teams' focus is on the client’s needs, and the salesperson acts as an advisor to convert the lead into a buyer.
Inbound Sales
(Waweru, 2022)
300
What sales ratio does this formula help you compute?
Closed ratio
(Kelwig, 2022)
300
Breakdown of all the benefits provided by a product or service.
Value proposition
(Kelwig, 2022)
300
Helps you and other sales professionals identify why you cannot meet your sales goals.
Churn rate
(Waweru, 2022)
400
A potential customer who expresses interest in your company’s products or services.
Lead
(Kelwig, 2022)
400
Which sales metric does this formula help you compute?
Sales conversion rate
(Triozzi, 2023)
400
Process of showcasing and demonstrating the features, value and benefits, and value of the product or service to the customer.
Solution presentation
400
It is critical to plan exercises to generate enthusiasm for a project or service to increase average revenue.
Leads
(Waweru, 2022)
500
This is a lead that interacted with you or another salesperson within the company at least once via phone, email, or chat.
A prospect
(Kelwig, 2022)
500
The percentage of customers who stop buying from your company in a given time frame.
Churn Rate
(Kelwig, 2022)
500
Offering additional products or services to a customer that could benefit from additional solutions.
Cross-selling
500
An effective _____ helps a business acquire, retain, and increase customers. This will assist sales teams in dealing with the various challenges that people face when trying to sell.
Sales strategy
(Waweru, 2022)