Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

A

Account Executive (AE)  

Is a member of the sales team whose main objective is to find out the client's needs, determine if there is a business opportunity -a potential contract with a monetary value-, and to close the sales contract.

 

B

Buying role 

A way to classify people in a client's company according to the function they perform in the purchase decision.

Buying signals

Are behavioural cues that indicate the intentions of prospective or existing customers in terms of their readiness to buy.  

 

C

Cadence

Defines the frequency with which the SDR will attempt to contact a lead. 

Competitive advantage

Is a condition or circumstance that puts a company in a favourable or superior business position with respect to its competitors.

Cross-selling

Is the tactic by which a seller tries to sell complementary products to those that a customer consumes or intends to consume. Its objective is to increase the income of a company.

 

D

Dashboards

Graphics in Bloobirds that measure sales performance.

Deal  

Agreement between two parties as a result of a commercial exchange and whose objective is mutual benefit.

 

E

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F

Funnel  

Refers to the buying process that companies lead customers through when purchasing products.  

 

G

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H

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I        

Ideal Customer Profile (ICP)

Is a definition of the customers you are targeting with a sales effort. It is used as a basis for prospecting, lead qualification and other sales processes.  

Inbound 

It refers to the sales process where the client takes the initiative to contact the service provider. This can happen organically or be facilitated by the provider, using marketing material through a source of recruitment.  

 

J 

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L     

Lead

Is a prospective buyer of a product or service.

Lifetime value

Sometimes referred to as customer lifetime value, is the average revenue a single customer is predicted to generate over the duration of their account.

 

M

Market Research (MR)

Group of people within the sales department responsible for expanding the base of companies that provide business opportunities.

Metrics

Performance measurement based on certain parameters.

Micro-niche  

It is a very small section of the market (potential customers) to which a product or service is specifically directed because its characteristics meet the specific needs of that demographic. 

Mission

Sentence that describes the reason for a company to exist, the market and its competitive advantages.

Market niche  

Section of the market to which a product or service is specifically directed because its characteristics meet the specific needs of that demographic.

 

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O

Outbound

Refers to the sales process generated by the company that offers the product or service, where it takes the initiative to find and contact the customer. It is an exit sale where the client is informed and educated about the solution.

        

P

Pain point questions  

List of questions that the SDR asks the lead specifically aimed at highlighting the ‘problem’ that the lead faces in its day to day. They aim to cause the impression that we know the business and highlight the added value of the product or service you want to sell.

Playbook

Contains all the pieces and parts that make up your company’s go-to approach for sales.

Prospect  

To try to get in touch with the lead in order to qualify him.

       

Q

Qualified company  

A company that Market Research has identified as a potential client.

Qualifying questions  

In selling, the process of determining if a certain Lead (potential customer) has certain characteristics (solution fit,  economic size, etc.) that qualify him as a prospect.

          

R

 

Rating  

A classification or ranking of a Lead based on a comparative assessment of their answers to the qualifying questions, which determines the size of the business opportunity.

Return on investment (ROI)  

Is the ratio between the net profit and cost of investment resulting from an investment of some resources. A high ROI means the investment’s gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments. In purely economic terms, it is one way of relating profits to capital invested. Return on investment is a performance measure used by businesses to identify the efficiency of an investment or number of different investments.  

         

S

Salesforce  

Is the world’s #1 customer relationship management (CRM) platform. It is a cloud-based CRM applications for sales, service and marketing.

Sales Development Representative (SDR)  

Is a member of the Sales Team that focuses on outbound prospecting and qualifying leads.

Sales Manager (SM)

Is the person responsible for leading and coaching a team of salespeople. A Sales Manager's tasks often include assigning sales territories, setting quotas, mentoring the members of the sales team, assigning training, building a sales plan, and hiring and firing salespeople.

Sales pitch 

A spoken description or talk about our product or service, intended to persuade people to buy it.  

 

T 

Target market  

A particular group of consumers at which a product or service is aimed. 

Tier  

A level or rank to classify business according to their income.  

 

U

Up-selling  

Trying to sell to a customer something additional or more expensive.        

 

V

Value proposition  

Business or marketing statement that a company uses to summarise why a consumer should buy a product or use a service. This statement convinces a potential consumer that one particular product or service will add more value or better solve a problem than other similar offerings will.

Vertical

A vertical market is a market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialised needs.

Vision  

An aspirational description of what an organisation would like to achieve or accomplish in the mid-term or long-term future. It is intended to serve as a clear guide for choosing current and future courses of action.

 

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Z

 

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