What does AIDA in sales stand for?

Attention, Interest, Desire and Action. The AIDA model is a cornerstone of modern sales and marketing. This model describes a prospective customer’s stages of thinking and action before deciding to buy or become a client.

What does ABC mean in sales?

Always be closing. A motivational phrase and sales lingo for a salesperson to always be on the lookout for new prospects, pitching to them and ultimately closing the deal.

What does BANT mean in sales?

BANT or budget, authority, need and timeline is sales jargon for how salespeople used to qualify leads.

What is a conversion in sales?

A conversion is when a person completes a desired action for your company, such as signing up for an email list or buying a product.

CRM (Customer Relationship Management). With the help of CRM software, it is the management and database of valuable information about prospects and clients that aids in closing sales.

What is a discovery call?

A discovery call is the initial calls sales reps make to someone to qualify them and figure out the next step.

What is lead qualification?

Lead qualification is the process of scoring leads to determine which are worth pursuing.

What is a sales funnel?

A sales funnel is the stages a prospect moves through, from being aware of your business to converting into a paying customer.

What does ARR stand for?

This metric shows how much revenue you gain from subscriptions or contracts each year. ARR focuses on the money you get every year from these customers.

At the bottom of the sales funnel, the prospect is ready to buy. They’re looking for information that proves why a company or a product is best for their needs.

At the MOFU (middle of the funnel) stage of the sales funnel, prospects are weighing their options and narrowing their focus to a shortlist of businesses that meet their needs. This stage requires showing prospects what you offer and how it will help them.

TOFU, or top of the funnel, is the first part of the buyer’s journey where the buyer discovers they have a problem and seek out solutions.

An SLA, or service-level agreement, is a commitment between a service provider and a client which outlines the products and services provided, the point of contact and the metrics by which progress and success are determined.

A sales qualified lead is someone who has a high likelihood of purchasing because they’ve moved down the sales pipeline. These prospects show enough interest in your product or service that they’re ready to talk with a sales rep.

A marketing qualified lead is someone who shows interest in a business through their marketing. Marketing qualified leads are a good starting point for finding people who may eventually turn into sales qualified leads.

Smart marketing starts here.

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