Sales Glossary and Terms
Education & Support for Professionals
Sales
A synonym for client, this term is usually used in a business-to-business (“B2B”) context.
This term is used to indicate that the salesperson is hyper-aware to not only what the prospective client is saying, but how they are saying it. This is often combined with interpreting body language in order to better evaluate a prospective client.
This is accomplished by providing additional benefits (either tangible or intangible) to the primary product or service being sold. A “top notch” reputation is an example of an added value.
This is something (either tangible or intangible) that gives one an edge over their competition. Being referred by an associate is often an advantage over having someone call you out of the blue.
This is the act of using a media outlet such as television broadcasting, magazines, or the internet to market a product or service to prospective buyers/users.
An arrangement to meet someone at a particular time and place.
Similar to “features” (see below) this term is used to describe the positive aspects of a product or service. Selling benefits is not recommended.
This term is used to describe transactions between one company and another company.
This term is used to describe transactions between a company and a consumer.
This is the part of the sales process in which the salesperson receives a commitment from the prospective client. This is often mistaken as the final step in the selling process.
This is the person seeking the product or service being offered. We prefer this term over “customer” when selling services as it comes across more professionally. It is important to understand that the person contacting you to purchase may not be the true prospective client (see “Decision-maker”).
An unsolicited call made by someone attempting to sell a good or service.
The amount of money a sales professional earns for reaching a specific sales number or for performing a certain number of business transactions.
A meeting with an expert or professional in order to seek advice.
This is a person who has been given the authority to enlist your services. Be sure you are speaking with a decision-maker when taking a sales call or meeting.
The item or items one commits to provide. These may be tangible or intangible.
This is used to describe the make-up of one’s living style. Among other things, this may include a person’s job, hobbies, consumables, economic standing, and education. It is helpful to know the demographic of your prospective clients.
Marketing a product or service via the internet.
Using “snail mail” to market a product or service to a target audience.
Having the ability to understand and share what another person is feeling. This is a valuable sales tool when trying to discover a prospective client’s pain.
This is the practice of acting within societal guidelines. Acting ethically over time will yield much better results than any short-term gain that may be accomplished by acting otherwise.
Similar to “benefits” (see above) a feature is an aspect of a product or service that distinguishes it from other similar products or services. It is very difficult to sell a product or service based upon features.
A term used to describe any location outside one’s home base be it an actual office or one’s residence.
A synonym for “prediction”, this term is used to predict how well sales efforts will be. It is important to note that forecasting should be used as a loose guide as many outside factors can vary the accuracy of a forecast.
This is a person or people with the ability to assist a decision-maker in choosing a product or service.
In the context of sales, this is a non-physical attribute that relates to a product or service.
In the sales context this relates to a third party bringing a salesperson and a prospective client together.
A person or business who eventually may become a client.
One of the most important aspects in selling, this trait must be practiced in order to obtain the best results. Just as important as listening, is knowing how to react to what one hears.
A category of prospective customers that takes minimal effort to turn into paying customers.
Often confused with sales and advertising, marketing is the process in which a company uses tools to make people aware of the product or service they are offering. This is done in hopes of having prospective clients be placed in front of a salesperson to begin the sales process.
The amount added over the cost of a product or service attributed toward profit.
The act performed by a purchaser and a provider in which a compromise is sought by both parties. This process assumes the parties begin the process with differing goals. The better negotiator will usually end up closer to their original goal than a lesser skilled negotiator.
An expression of disapproval or disagreement.
The beginning stage of a sales call or sales meeting.
This describes how a prospective client views a given item such as a product, a service, the salesperson, or the company. Being able to influence a prospective client’s perception is a valuable sales tool.
Qualify in advance to take part in business.
The package a salesperson uses to address a prospective client. The presentation may include a pitch, visuals, slides (i.e. PowerPoint) and brochures. Although these tools may add some value, presentations do not sell by themselves.
The potential ability or level of efficiency of a business to yield a financial gain (profit) after all expenses and costs have been deducted.
This is the difference between what an item costs and at what price the item is sold. It is important to note that indirect costs such as taxes and overhead may or may not have been included in one’s profit calculations.
An offer (either written or oral) provided by the seller to the prospective client setting forth what will be delivered and under what terms.
A person or company that a provider deems may be interested in purchasing the provider’s product or service.
A baseline created to measure one’s productivity or effectiveness.
The point in the sales process where a prospective client raises objections.
A bond created between a salesperson and a prospective client. Good rapport is often an integral part of creating trust.
A prospective client referred by an outside (usually trusted) source.
A visualization of the sales process that projects the stages through which prospects go through as they are led by a sales person towards a decision to purchase.
Issue or issues a prospective client voices that is keeping them from purchasing a product or service. It is difficult to make a sale by directly trying to address individual objections.
A term used to describe where in the sale process a prospective client lies.
Evaluating something or someone to assess suitability for a role or purpose.
A written guide produced for salespeople to assist them with handling a contact. Scripts guarantee consistency and allow salespeople to practice and act more natural when overcoming objections
A portion of the overall sales market used to target marketing or sales. This is often done by creating vertical sectors.
In the sales sense this is a product that has physical traits or a service that can be measured.
A pattern or mold used as a guide to form a piece being made.
A formal statement testifying a person or company’s character and qualifications.