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Welcome to our Online Sales Dictionary!
Please email us at
Info@salesanimals.com
with any amendments, additions, or corrections for our Sales
Dictionary.
Thank you for contributing!
Recoverable Draw - A
draw that
the company can ask the employee for back
regardless of employment status. The amount that can
be recovered is the amount that was given to the employee or
individual after they have reached their quota.
Referral - Describes a
prospect that is given to a
salesperson by an individual who knows of the salespersons
ability. A referral can come from a current
customer,
prospect,
friend, family member, or co-worker.
Research - Gathering information about a market, company,
customer or
prospect that will help build a relationship,
modify a sales approach, or progress a
deal.
Research Call – A phone call made to gather information
about a market, company,
customer or
prospect that will help
build a relationship, modify a sales approach, or progress a
deal.
Residual – Recurring revenue that is generated from the
first sale over a period of time.
Retention - The act of keeping your
customers and not losing
them to competitors, usually by performing a valuable
service.
RFP (Request for Proposal) – A written request asking
contractors to propose a solution and prices that fit the
customer’s requirement.
Return On Investment (ROI) (sales acronym) - a term used in
the financial world and by management to define the monetary
value created or expected to be gained by an investment of
capital. ROI is measured as a hard value during the decision
making process of the sales process to measure the success
of a purchase after implementation and use.
Request for Proposal (RFP) – A written request asking
contractors to propose a solution and prices that fit the
customer’s requirements.
ROI – (sales acronym) Return On Investment - is
the amount of money that is made or expected to be made
after spending money to advertise, market , and/or improve
the product. ROI is usually a big factor in
determining whether or not the company or individual should
move ahead and whether the decision will be a successful
one.
Please email us at
Info@salesanimals.com
with any amendments, additions, or corrections for our Sales
Dictionary.
Thank you for contributing!
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