Hello! Time to trot out some more scholarly goodness.
This B2B sales glossary is continually being updated, so pin it!
Lead Generation: The process of acquiring potential customers to support sales growth.
Target Market: A specific segment or group of customers a company plans to reach at a given time with its marketing activities.
Inbound Marketing: The use of content and social media tactics to draw prospects in and convert them into leads.
Outbound Marketing: Traditional advertising techniques that promote products or services by pushing messages out over a wide area, such as radio, TV, or print ads.
Qualified Lead: A lead that has been assessed as having the potential to become a paying customer through further research and contact information gathering.
Key Account Management (KAM): An approach to doing business with large commercial clients that emphasizes relationship-building and strategic problem solving rather than simply transactional selling tactics.
Sales Funnel: A visual representation of the buyer’s journey from awareness to purchase decision, including various outreach points throughout the process such as email signups and website visits.
Revenue Pipeline Management (RPM): Using an automated platform for tracking every step of the sales cycle for each individual prospect in order to maximize customer relationships and facilitate faster deal closure times.
Customer Relationship Management (CRM) Software: Tools used by organizations to store customer data in order to streamline sales processes and track performance on different customer touchpoints such as calls or emails sent out by sales representatives.
Cold Calling: Making phone calls to prospective customers without prior communication with them in order to identify opportunities for potential business transactions between both parties involved.
Lead Scoring: Ranking potential customers based on their activity level on specific channels or interests they expressed through online forms or surveys in order to prioritize resources towards higher value leads first before others are considered worth pursuing further down the funnel.
Retargeting Ads: Serving ads specifically tailored for certain individuals after tracking their behavior on websites such as what pages were visited most frequently, what keywords were searched for most often, etc.
Closed-Loop Marketing Analytics: Gathering data from various sources within the organization’s marketing efforts in order to gain insights into which methodology works best for converting leads into paying customers and optimizing budget allocation accordingly moving forward.
Brand Awareness Campaigns: Ongoing promotional activities that drive awareness about your company’s products or services among targeted audiences most likely interested in making purchases from you eventually, if not immediately.
A/B Testing: Comparing two versions of an ad campaign against one another in order to figure out which approach is more effective at driving conversions based on end results achieved.
Content Marketing: Creating relevant content tailored towards your target market’s interests that will help fuel engagement levels while indirectly boosting product visibility simultaneously.
Social Media Advertising: Utilizing online platforms like Twitter or Facebook as mediums for running paid campaigns targeting specific niches utilizing data collected on consumer demographics present there.
Cross-selling & Upselling: Selling additional complementary products alongside existing ones being purchased by customers at any given time while also encouraging upgrades if applicable when applicable.
Lead Nurturing: Developing relationships with potential buyers over time through consistent communication via emails, direct mailers, newsletters, etc., until they become ready enough financially/mentally to commit to making a final purchase decision.
Channel Partner Management: Establishing partnerships with third-party resellers who agree upon working mutually together towards helping achieve common goals around increasing revenue streams.
Online Reviews & Testimonials: Seeking public feedback generated across different channels mentioning how helpful it was working with your company before convincing other visitors looking at similar reviews & ratings themselves.
Referral Programs: Rewarding loyal existing customers financially (in return) if they recommend your services/products to someone else they know personally who might end up enjoying working with you too just as much.
Experiential Events: Hosting events where attendees can interact directly with product demonstrations/demos designed by company staff members themselves so people can physically experience quality outputs offered firsthand before opting whether to buy it or not.
Voice Of Customer Surveys (VOC) – Questionnaires designed specifically aimed at identifying customer satisfaction levels after using concrete products/services released recently along with associated “pain points” commonly encountered throughout the entire usage period.
Trigger Events – A trigger event is an action or event that sets off a process, typically one that has been predetermined. For example, a trigger event can be when a customer purchases an item from a store, which in turn calls for the store to send out a confirmation email.
Account Based Marketing (ABM) – Account Based Marketing (ABM) is a strategic approach to B2B sales that focuses on targeting and engaging specific account prospects in order to drive more qualified leads, increase close rates, and reduce the cost of customer acquisition. It is driven by an understanding of the needs of a particular account, individual buyer personas within that account, and tailored engagements for each persona.
Multi-channel Attribution – Multi-channel attribution is when you collect data from all user interactions that lead up to a purchase or conversion. This could be emails, display ads, social media posts, and search engine advertisements – anything your customer engages with before making their decision. Once you have this information gathered together then an attribution model should be applied in order to determine how much credit each of these touchpoints deserves for the sale.
So these are 27 of the most popular B2B sales terms you need to know.
However, there is always room for growth, keep your eyes here as this will be updated over time.
What other terms should be added to the glossary? Let us know in the comments!
About the Author
Dani Lehmer is the Founder and Captain of Dani Digs In. She is a Quality Assurance Administrator during the day, an aspiring blog star at night.