Common Sales Related Definitions For The Beginner

Common Sales Related Definitions For The Beginner:

B2B Selling - "B2B Selling" is an acronym commonly used to describe sales people who engage in selling their product or service to another company instead of the individual consumer.

An example of B2B selling would be commercial real estate sales professionals.

B2C Selling - "B2C Selling" is an acronym common used to describe sales people who engage in selling their product or service to the individual consumer instead of someone who is buying on behalf of their business's needs.

An example of B2C selling would be retail stockbrokers who specialize in selling equity to the "Average Joe" and "Average Jane."

Email Blast - An email blast is a mass email sent out by a company to leads that typically were purchased (sometimes illegally) in the hopes of reaching thousands of potential buyers, hoping to circumvent tedious, unprofitable cold-calling sales techniques.

Sales Cycle - A sales cycle is the time it takes from the sales professional's first meeting meaning phone, email or in-person with a prospect until the service agreement is signed by the buying party.

Long sales cycles have been notoriously known for significantly damaging a company's finances and available cash flow.

Sales into the government are very lucrative for the sales professional who can effectively do so because it takes a special patience and bureaucratic savvy to get anything done.

After 7 years of successful sales employment into municipalities, base salaries excluding commission can reach well into the $115,000 range.

Warm Prospect - A warm prospect is a term that signifies a potential buyer who has familiarity with the sales representative's company as well as has shown some interest in the product or service.

If the account is not managed properly by the sales representative, a warm prospect can quickly turn cold, unresponsive and elusive to any attempted contact.

Cold Prospect - "Hi Stranger," is the basic idea behind sales to what is referred to as a cold prospect.

You don't know them, they don't know you and to make things even more difficult, they probably don't know your company and may not be in the market for your product.

For a sales representative, it takes a lot of skill, patience and hard work to see a cold prospect from initial contact to client.