Sales and Sales Management Vocab

The process of managing and maintaining relationships with existing clients to ensure their satisfaction and continued business

Her role in account management means she regularly meets with clients to make sure they are happy with the service.

The ability of a company to keep its existing customers and prevent them from going to a competitor

Offering excellent customer service is one of the most effective strategies for client retention.

The final step in the sales process where the customer agrees to buy and both sides complete the agreement

After three weeks of meetings and negotiations, she finally succeeded in closing a deal with the large supermarket chain.

The practice of calling people by phone to try to sell them something, even though they have not shown any interest before

The sales team spent the morning cold calling businesses in the city to introduce their new software.

An amount of money paid to a salesperson based on the value of the sales they have made, usually a percentage of the total

He earned a ten percent commission on every contract he signed, which motivated him to work harder.

The practice of suggesting related or complementary products to a customer who is already buying something

When the customer bought a laptop, the sales assistant used cross-selling to also sell him a mouse and a carrying bag.

A system or strategy that companies use to manage and improve their interactions and relationships with existing and potential customers

The company uses customer relationship management software to keep track of all communications with their clients.

A contact made with someone after an initial meeting or conversation to continue the discussion or check on progress

She sent a follow-up email to the client two days after their first meeting to answer any remaining questions.

The process of finding and attracting people who might be interested in buying your product or service

The marketing team uses social media for lead generation to find new potential customers.

The skill of responding to a customer's concerns or reasons for not wanting to buy, in order to persuade them to proceed with a purchase

Good objection handling helped the salesperson convince the client that the product was worth the higher price.

The activity of searching for and identifying potential new customers for your business

She spent two hours each day prospecting for new clients by researching companies online.

An increase in the total amount of money a company earns from its sales over a period of time

The company reported strong revenue growth of twenty percent compared to the same period last year.

A prediction of how much a company expects to sell over a future period, such as a month or a year

According to our sales forecast, we expect revenue to increase by fifteen percent next quarter.

A model that shows the stages a potential customer goes through before making a purchase, from first awareness to final buying decision

Looking at our sales funnel, we can see that many customers drop out at the product demonstration stage.

A system that tracks all the potential customers and sales opportunities a company is working on, from first contact to closing the deal

Our sales pipeline shows that we have twenty potential clients who are close to making a purchase.

A prepared presentation or speech used to persuade a potential customer to buy a product or service

She practised her sales pitch many times before presenting it to the board of directors.

A minimum amount of sales that a salesperson is expected to achieve within a specific period of time

He worked extra hours in December to make sure he met his sales quota before the year ended.

A person whose job is to sell a company's products or services to customers

A sales representative from the pharmaceutical company visited the clinic to present their new medicines.

A specific goal set for a salesperson or team to reach within a certain time period, usually measured in revenue or number of sales

The regional manager set an ambitious sales target for the team to reach by the end of the month.

The practice of encouraging a customer to buy a more expensive or upgraded version of the product they are already interested in

The salesperson used upselling to convince the customer to buy the premium model instead of the basic one.