Sales Acronym Megathread Sales and Selling |
- Sales Acronym Megathread
- SaaS AE’s- willing to share starting salaries?
- Is anyone else here completely lost when people start using their job acronyms?
- Product shortages/Supply chain issues?
- Is sales like running a business, and does everyone really hate it?
- Is it true that insurance companies do not give their agents enough leads?
- Will sales jobs become replaced by automation?
- Opinion: The “ask questions then shut up” is an incredibly outdated method of sales.
- How many of use SMS msg as one of your touchpoint?
- SDR -> AE promo … do I want it?
- Looking to switch careers into Sales! Am I qualified?
- How to improve my skills in Door to door sales?
- Best month in Sales Now What
- I hate my demographic
- Tips for D2D solar offering PPAs(power purchase agreements)?
- Best practices with Copper Crm
- Random Drug Testing?
- Tracking Sales help
| Posted: 31 Jul 2021 09:28 PM PDT These terms and definitions were pulled Tech-Powered Sales. I cannot take credit for this. Acronyms and Defined Terms ABM: Account-based marketing. ABS: Account-based selling (not automatic braking system). ABSD: Account-based sales development. ACV: Annual (or Average) contract value. ADR: Account development rep. AE: Account executive. Sometimes called a BDM or field rep. AI: Artificial intelligence—machines that learn and self-improve. Don't say "AI" to a farmer or breeder; they'll think you mean artificial insemination. AM: Account manager. Sometimes known as CSM. API: Application program interface (often incorporates web services and other forms of software systems integration). ASD: Automated sales development. B2B: Business-to-business. B2C: Business-to-customer/consumer/client. BDM: Business development manager. Sometimes called an account executive (but not an AE) or field rep. BDR: Business development rep. Inside sales role with outbound focus. BPM: Business process management. Buyer Persona: Archetype of buyer roles (technical buyer, financial buyer, etc.) See IPP. CAC: Client/customer acquisition cost. Cadence: The rhythm or frequency in which you drive outreach. Some SEP companies use the term interchangeably with sequence. CCO: Chief customer officer or chief commercial officer. CDO: Chief digital officer. CMO: Chief marketing officer. Conversational or Revenue Intelligence: These are systems that record and transcribe all the rep calls to analyze the listen-to-talk ratio, question frequency (open or closed Qs), objections, sentiment, and so on. Players include Gong, Chorus, Refract.ai, and Execvision. CPL: Cost per lead. CPO: Chief procurement officer. CRM: Customer relationship management. System of record for all customer information and interactions. Salesforce, Microsoft Dynamics, and Hubspot are leaders. CRO: Chief revenue officer. CSM: Customer success manager. Sometimes known as account manager. CSO: Chief sales officer. CTA: Call to action. CTO: Chief technology officer. CX: Customer experience. CXO: Chief anything you pick officer. DAVE/S: Digital Adaptive Virtual Entity for Sales. DB: Database. DM: Direct message (not direct marketing). DNC: Do not call (take me off your mailing list and database). DSP: Demand side platform. DVA: Digital Virtual Assistant. DVSA: Digital Virtual Sales Assistant. EBS: Equal business stature. EIEIO: As in the "Old Macdonald" song. Used when highlighting acronym overload. EX: Employee experience. Firmographics: Information about an organization's industry vertical, geographic locations, number of employees, clients, and so on. Everstring and ZoomInfo (Datanyze acquisition) are good sources. GIGO: Garbage in, garbage out. ICP: Ideal customer profile. IFTT: If this, then that (machine logic to trigger actions). Intent/Surge Data Platforms: Assess anonymized surge data to identify which types of accounts are searching for your category on Google. Quantcast and Bombora are examples. IP: Internet protocol or intellectual property. IPP: Ideal prospect profile. See buyer persona. ISR: Inside sales rep. Often with an inbound response focus and also known as SDR. LDR: Lead development rep. Mainly dealing with inbound inquiries. MDM: Market development rep. ML: Machine learning—often with human assistance and guidance. MQL: Marketing qualified lead. Also known as "fake leads from marketing so they can claim to hit their metrics." MRR: Marketing response rep. Navigator or Nav: LinkedIn Sales Navigator platform for B2B business intelligence. NLP: Natural language processing (not neural linguistic programming as used in the field of phycology). NPS: Net promoter score (a way of quantifying customer satisfaction from an interaction). PAD: Parallel assisted dialing—sometimes called the Bazooka™. Companies including Orum, ConnectLeader, and ConnectAndSell have developed proprietary technology where an offshore team can dial thousands of times and seamlessly hot-switch when the actual prospect answers without the prospect realizing. Some use hardware and software dialers, or a combination. How? It's proprietary; ask them. Psychographics: Information about consumer or corporate emotions and values. RPA: Robotic process automation. SA: Solution architect. Pre-sales person designing and documenting "solutions." SAM: Serviceable addressable market. SDK: Software development kit. SDR: Inside sales rep. Often with an inbound response focus. SE: Sales engineer, solutions engineer, or systems engineer, usually not used for sales executive. SEO: Search Engine Optimization. SEP: Sales engagement platform. These platforms focus on automating aspects of outbound business development—sending emails, monitoring opens and replies, and building personalized messaging segments. Sequence: The order in which you send outreach or use content. Also known as a cadence or play. Sales engagement platforms (SEPs) use different terms. Outreach calls a series of touches a sequence. SalesLoft uses cadence. Groove uses flow. XANT uses play. FrontSpin uses playbooks. Sequencer: Part of what is incorporated with an SEP. Smarketing: Utopian coining claimed by Peter Strohkorb. The heart of RevOps, where sales and marketing fuse into a synergistic whole. SMM: Social media monitoring or social media management. SNAFU: Situation normal all fudged up (a military term, only they don't use fudged in the military). SQL: Sales qualified leads. SSP: Sales Simulation Platform. STEVE: Sales Team Enablement Virtual Entity. System of Engagement: SalesLoft, Outreach, Groove, XANT. TAM: Target or total addressable/available/attainable/actionable market. TAM: Target account marketing. TAM: Technical account manager. TCV: Total contract value. Technographics: Information about the technologies they are using in their stack. TOFU: Top of funnel. UI: User interface. VM: Voicemail or videomail (not virtual machine). WFH: Work from home. WYSIWYG: Pronounced wizeewig. What you see is what you get. Simple editor in a UI. XDR: Anything development rep. ZMOT: Zero moment of truth. ADDITIONAL ACRONYMS: ANUM: Authority, Need, Urgency, Money BANT: Budget, Authority, Need, Time-frame BMANTR: Budget, Method, Authority, Need, Timing, Risks, Roadblocks FAINT: Funding, Authority, Interest, Need, Timeframe MANDACCT: Money, Authority, Need, Decision criteria, delivery Ability, Competition, Coach, Timescale MEDDICC: Metrics for ROI, Economic Buyer, Decision criteria, Decision process, ldentify pain, Compelling event, Champion / Coach MEDDPICC: A derivation of above with the P being for their Paper/Procurement process NUTCASE: Need, Unique, Timing, Cash, Authority, Solution, Enemies ORDER: Opportunity, Resources, Decision process, Exact solution, Relationships ProBANT: Procurement, Budget, Authority, Need, Time-frame RAMPACT: Requirement, Authority, Money, Priority, Action, Competition, Timing RSVP: right Relationships, winning Strategy, unique compelling Value, strong Process Alignment SCOTSMAN: Situation, Competition, Basis of Decision, Timescale, Solution, Money, Authority, Need TAS (Target Account Selling): 20 questions for sales qualification. 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| SaaS AE’s- willing to share starting salaries? Posted: 01 Aug 2021 10:06 AM PDT I recently got offered a promotion at my company from SDR to AE. When it came to salary, I asked my VP if it was negotiable and he said of course, that they want to make sure they're offering competitively, and wanted to know what research I'd done on market rate. Market rate research is a little hard for commission based roles, so I told him I'd do more digging than just pay scale, indeed, the likes. Would you mind sharing where you started, total OTE-wise? Bonus if you moved up from SDR. [link] [comments]  |
| Is anyone else here completely lost when people start using their job acronyms? Posted: 31 Jul 2021 03:54 PM PDT I keep seeing posts like, a yeah I'm B2B, D2C PostSaaS Mulitplex startup TDI, I'm a BDR-XE but hope to BX to AE in 3 to 4 years It's gibberish to me! It seems to be a SaaS thing? Too complicated for me, I sell stuff, actual physical stuff. It's like I'm in the dark ages. Edit: ladies and gentlemen, please stop telling me what these acronyms mean, I am perfectly capable of Googling them myself, its a joke! Remember those? Before cold calling stripped away all the joy? [link] [comments]  |
| Product shortages/Supply chain issues? Posted: 01 Aug 2021 08:45 AM PDT How many of us are suffering due to issues with product availability? I sell wholesale products to dealers. About 50% come from overseas, mainly Asia. For those products manufactured in the US, some key components come from overseas. Availability has gotten worse and worse over the last 6 months as shipping, port back-ups, plant shutdowns from Covid, and other factors impact supply chain. [link] [comments]  |
| Is sales like running a business, and does everyone really hate it? Posted: 01 Aug 2021 12:35 AM PDT From an outside perspective, it seems like the closest thing to starting a business. Reason I say that is because more than any other high earning potential field, sales seems to have the most unhappy people. Just lurking in this subreddit, I see comments about quitting and how it's destroying a person's mental wellbeing, but all the while being reassured by the money. That to me, sounds a lot like someone starting a business and trying to keep it afloat. [link] [comments]  |
| Is it true that insurance companies do not give their agents enough leads? Posted: 01 Aug 2021 02:06 AM PDT I have my property and casualty license and I got a job offer from an insurance agency. They told me that they would provide me with leads and that I don't have to travel or get referrals. But after researching I found several articles that said that you're expected to buy your own leads. Or, if you use company leads that gets taken out of your commission. Is that true? Is this why the turnover rate is so high? Why does the company not give you enough leads in the first place? [link] [comments]  |
| Will sales jobs become replaced by automation? Posted: 01 Aug 2021 04:23 AM PDT I'm wondering what the future of sales will look like. Will we still be cold calling/emailing in the future or will some kind of technology do that? I'm afraid of getting into a profession that could be replaced by a computer. What do you think? [link] [comments]  |
| Opinion: The “ask questions then shut up” is an incredibly outdated method of sales. Posted: 01 Aug 2021 06:53 AM PDT I've been in B2B sales for about 8 years now. My boss told me a week ago, "you're the first guy I know that can talk your customer into a sale from start to finish." I ask questions, but I suppose it's a lot like being a lawyer—I'm never asking a question I don't already know the answer to. When I speak I'm guiding the customer through a curated experience, stopping to ask their reaction on a feature or outcome (which I already know is going to be X, Y or Z) and continue on. The more you let the customer talk the more you open the door for variables you can't control. [link] [comments]  |
| How many of use SMS msg as one of your touchpoint? Posted: 31 Jul 2021 11:43 PM PDT I work for a Saas company in the email marketing industry as an inbound sales rep. Our team is currently getting a lot of wins booking meetings by sending calendly links to prospect phone numbers via SMS/WhatsApp. However, it's a pretty manual task to save numbers and send messages. Is there any way I can automate this --> saving number on my phone and send SMS/whatsapp? [link] [comments]  |
| SDR -> AE promo … do I want it? Posted: 31 Jul 2021 02:19 PM PDT Hi all, quick context - Been an SDR for 9 months, nearly doubling my quota consistently the entire time. Found out I'm up for a bump to AE with a major pay raise, but I'm scared to take the leap… I'm a great SDR and I'm confident I'll be the same as an AE, but the stress has eaten me alive. 65 hrs/wk, prospecting on weekends has been running me dry. I fear the stress and anxiety will only skyrocket with the new role and genuinely considering whether or not it would be worth it. So with that being said, a few questions - 1 - Are you able to find a genuine work/life balance as an AE? 2 - Any tips or tricks for stress/anxiety mgmt? 3 - If AE is a no-go, are there any other roles you would recommend? 4 - How would you go about opening this dialog with your boss? Thanks. [link] [comments]  |
| Looking to switch careers into Sales! Am I qualified? Posted: 31 Jul 2021 03:42 PM PDT Background: A bit of background, I'm a 23 year old in Toronto. I finished a business degree 2 years ago. After graduation, I landed a job at an insurance company as a claims adjuster. I started off in the auto pd department and have managed to move around. Now I am a claims adjuster for casualty and litigation. I'm honestly proud of myself for being able to do this since this is where I wanted to be when I had first learned about insurance. I spoke to management about how I feel underpaid despite all the projects and work that I've done. Even when I have my meetings with management, they always advise that I am very keen to my work and the attention to the detail that I have trumps what some senior adjusters are doing. With all the arguments and examples I provided them, they decided that they are not going to give me a salary increase. My current pay right now is at $55k. Planning for my future with that kind of pay doesn't seem sustainable unless, I move else where where prices of properties are more affordable. Looking to switch into Sales: This is when most of my friends have advised me to get into sales since I have transferrable skills that would make me a good fit. I haven't really looked into sales before, but I heard that it can be very lucrative. Recently, I've been reading and learning more about tech sales such as working for Salesforce. The culture is great, and the pay is reflective on the work that I put in. These 2 are very valuable to me. Based on my professional experience, would I be a good fit for a tech sales role? Maybe like an SDR to start and working my way up? At least from the research that I've seen online, the salary can easily be over $65k. I don't think there's any certifications that I need for a sales job since the main skillset you have to have is communication. Which I think I have a solid foundation of since I'm on the phone 9-5 at my current claims adjusting role. Like most people, I know I can't get a 6 figure salary from the get go. But I'm willing to put in the work to definitely get there. It just seems like claims adjusting has a ceiling for salary and my company bases their salary increases on how long I've been with the company(not cool). Quite frankly, I'm not enjoying my current role anymore. I just hope I can leverage my experience to a tech sales role. If anyone has ever made this transition from insurance to a sales role, I would love the opportunity to chat with you and learn more about that career transition. Any feedback helps! [link] [comments]  |
| How to improve my skills in Door to door sales? Posted: 31 Jul 2021 08:00 PM PDT Hey, I started a solar sales job last month and have seen decent success so far. I've noticed that I've made improvements in making prospects more engaged but I have been recently losing potential leads when getting objections after getting to the close in my script. Recently I have also missed out when scheduling someone for an appointment and the use "busy", "spouse", or "send me an email" objections. What are some ways that I can improve on this because I truly want to become the best in my office. Any tips or techniques, or books, videos….Thanks in advance for any help! [link] [comments]  |
| Posted: 31 Jul 2021 10:40 PM PDT Just had my best week this past week and that bookended my best month ever too. New month starts Monday. Any advice to keep the momentum up? Thanks y'all!! [link] [comments]  |
| Posted: 31 Jul 2021 06:32 PM PDT I fucking hate the people I have to sell to. I'm in cellular sales. My main objective is to sell postpaid devices on AT&T and Verizon inside of…. Walmart. Most of my sales come from transitions from prepaid carriers. The people I have to pitch to are incompetent idiots. I could literally tell them how they're paying more for a shit product and they still can't fucking be persuaded because:
I fucking hate this job, but I need the experience and I don't have many options of job opportunities in my area. Advice anyone? [link] [comments]  |
| Tips for D2D solar offering PPAs(power purchase agreements)? Posted: 31 Jul 2021 09:59 PM PDT Been at the D2D for 15 years and I just need some help and motivation. I'm fuckin stuck after making 100k+ in a few months. Now I'm worried about money. [link] [comments]  |
| Best practices with Copper Crm Posted: 31 Jul 2021 08:48 PM PDT Just started as an SDR for a B2B SaaS company. We are using Copper over here. I was wondering if any of you could share some of the best tips and tricks with it. [link] [comments]  |
| Posted: 31 Jul 2021 06:59 PM PDT Do any workplaces still conduct random drug testing in sales? The only one I can imagine is Automotive possibly due to the nature of driving vehicles. Obviously most, if not all jobs have an initial one. Specifically, does "Rooms To Go" randomly test? Looking at changing jobs, however I am not protected for having a medical marijuana card under any law! [link] [comments]  |
| Posted: 31 Jul 2021 06:34 PM PDT I hope I get some feedback and information. I'm looking for a way to track sales and turn them in automatically. It is my biggest pain point at my current job and would take so much stress away if it could be automated in a web based fashion. I find myself having to click 20+ times to find the information needed to go inside of just one form per sale. Does anyone has any suggestions. It's easy to track my sales but hard to track close dates etc and I'm not given a API or anything. Can you suggest automation of turning in sales work flows you may use? [link] [comments]  |
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