Sales Tech and Tools
This digital wizardry isn't just for robots anymore; it analyzes data, predicts outcomes, and may one day outsmart your best salesperson. Beware the algorithms lurking in your CRM!
What is Artificial Intelligence (AI)?
Used by financial detectives everywhere, this ratio is the holy grail for figuring out if that flashy ad campaign was worth its price tag (and whether it deserves a second date).
What is Return on Investment (ROI)?
This customer loyalty metric doesn’t tell you how much they love you right now; it predicts how much cash they’ll rain down on you over their entire lifetime.
What is Customer Lifetime Value (CLV)?
Sales teams use this sneaky tactic to under-promise and over-deliver, keeping bosses happy while looking like heroes. Hint: it’s not about storing grain.
What is Sandbagging?
Your sales team is mapped out like a GPS. Every city and county has its own sales rep ready to claim the territory. What’s this called?
What is Geographic Sales Structure?
They’re the silent (but chatty) workers of the sales world, tirelessly answering questions, rain or shine, all while hiding behind a friendly screen. Who (or what) are they?
What are Chatbots / Voicebots?
Named after a strange universal law, this rule will make you question why most of your revenue actually comes from just a sliver of your efforts.
What is the 80/20 Rule?
Imagine all the money you could make in a given market if everything went perfectly—no competition, endless resources. That’s the dream this metric represents.
What is Market Potential?
This strategy is like trying to catch a fish with multiple nets—one channel won’t cut it, so you use all of them for maximum reach.
What is Omnichannel/Multichannel?
This is the elasticity lesson you didn’t pay attention to in Econ class: some customers will leave at a hint of a price hike, others stay loyal no matter the cost.
What is Elasticity/Inelasticity?
This platform is the ultimate detective in your sales toolkit, tracking your customers' every move like Sherlock Holmes in cyberspace, just without the deerstalker hat.
What is Customer Relationship Management (CRM)?
This is the sales equivalent of a report card, but instead of A's and B's, it’s all about performance measurements. Fail it, and your campaign’s in trouble.
What are Key Performance Indicators (KPIs)?
Think of this as your sales litmus test; dip your toe into a small part of the market, and it’ll tell you if you should dive in or run for the hills.
What is a Market Test?
They're not your average customers; they’re the VIPs of the sales world. If you mess this account up, you may be out of a job.
What are Key Accounts?
You’ve got hunters, farmers, and everything in between. This term describes the different jobs you’ll find in any diverse sales department.
What are Sales Role Types?
It's not a toolbox, but it's stacked. It's got the bells, the whistles, and everything you need to impress a sales prospect in record time.
What is the Sales Tech Stack?
When you’re lost in the financial jungle, this analysis is your map, guiding you to profits (or warning you of the danger zones).
What is Profitability Analysis?
Want to target the customers who live near mountains and eat granola bars? Use this type of segmentation to carve up your market just right.
What is Geographic Segmentation?
Despite all the shiny tech, salespeople often find excuses to avoid automation, claiming it cramps their style. This term describes that resistance.
What are Barriers to Salesforce Automation Adoption?
If you could wave a wand and make every repetitive sales task happen on autopilot, you’d be in this nirvana of automation.
What is Salesforce Automation?
This isn't about weightlifting, but about showing just how powerful that campaign really was.
What is Lift?
The eternal debate in sales analysis: do you focus on touchy-feely vibes, or cold, hard numbers? This question is as old as the sales game itself.
What is Qualitative versus Quantitative Analysis?
Not everyone is worth your time, but this measure tells you how much a customer could bring to the table if they went "all in" on your product.
What is Sales Potential?
Walking the tightrope between profit and principles, this management style makes sure your sales force hits targets without going rogue.
What is Ethical Sales Management/Leadership?
These aren’t just targets; they’re the benchmarks your team must hit to prove their worth. Miss them, and the boss won’t be happy.
What are Sales Evaluations and Performance Goals?