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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!
Call/calling - a personal face-to-face visit or telephone
call by a sales person to a
prospect or
customer. (Also see
sales call)
Canvas - another word for the activity of
prospecting,
typically used when referring to
prospecting that is done in
person rather than over the phone.
Canvass/canvassing -
cold-calling personally at the
prospect's office or by telephone, in an attempt to arrange
an
appointment, present a product, or to gather information.
Channel - the means used by companies to make their products
and services available to their target market i.e. examples
include direct channel (sold by the company's sales force),
distributors, retail stores, manufacturers' reps or value
added resellers.
Client – a
customer, the individual or company you are doing
business with.
Code of Ethics – principles of conduct within an
organization that guide decision making and behavior.
Close - part of the sales process (n.) the point at which
the prospect
makes a commitment to purchase a particular
product or service (v.) the point at which the salesperson
asks or encourages the prospect to make a commitment to
purchase a particular product or service.
Cold call - a
sales call where the salesperson does not
personally know the company and/or contact they are calling
on. First contact without introduction or notice in writing,
where there is no known need to
prospect.
Collaboration selling - Seller truly collaborates with buyer
and buying organization to help the buyer come up with the
best solution. A logical extension to 'strategic' or 'open
plan' selling. (Also see partnership selling)
Comfort zone challenge - An activity in which one engages in
order to push an individual or organization into a position,
where they have little experience and are in a position they
are not used to.
Commission -
Compensation paid to a salesperson following
the successful completion of a
sale
to a
customer, typically
a percentage of the
gross sales revenue but can be linked to
units or
margin.
Compensation - Is what the
sales person gets for making the
sale or
closing
the
deal.
Concession - Used in the context of
negotiating, refers to
an aspect of the
sale which has a real or perceived value,
that is given away or conceded by seller or the
buyer. One
of the fundamental principles of sales
negotiating
is never
giving away a concession without getting something in return
- even a small increase in commitment is better than
nothing. (See Negotiation)
Contact manager - a method or system for managing contact
information, priorities and checklists, typically a software
solution that partially automates contact management
functions.
Consultative selling (consultation selling) - consultative
selling includes more collaboration and involvement from the
buyer in the selling process. This method uses questioning
to gain useful information.
Consumer - the end user of the
product or service.
CRM – (acronym) Customer Relationship Management - generally
used to describe a comprehensive software solution that
helps companies manage their relationships with their
prospects
and
customers.
Cross sell - to sell a
prospect/customer a product or
service that compliments or adds value to another purchase,
can also refer to selling an existing customer another
product or service (regardless of its connection with
another purchase).
Customer - usually meaning the purchaser, organization, or
consumer after the sale. Prior to the sale they are referred
to as a
prospect.
Customer Retention – The act of keeping your
customers and
not losing them to competitors, usually by performing a
valuable service.
Cycle – The time or
process between first contact with the customer to when the
sale is made. Sales Cycle times and processes vary depending
on the company, type of business (product/service), the
effectiveness of the sales process, the market and the
particular situation applying to the
customer
at the time of
the inquiry. The Sales Cycle is also referred to as the
sales process and the Sale Gestation Period (i.e. from
conception to birth - inquiry to sale). (See sales cycle)
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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