ABC figures: This is the independently audited sales figure for all recognised publications in the UK. By using the ABC figure, you can quickly authorize how much the advertising will cost per 1,000 readers.
Statement Managers: These are sales bodies who accept abundant skills in getting repeat orders and maximising revenue returns from existing accounts. It is actual abnormal that a acceptable Statement Employer will be acceptable at winning advanced clients.
Dejected Bird: This is an unexpected sales befalling that has a aerial chance of turning into profitable bag.
BRAD: This book lists every UK publication including magazines, newspapers, vertical publications etc. It again contains answer advice i.e. ABC figures, advertising deadlines etc and is one of the most advantageous tools available if you are looking to abode advertising or embark on DIY PR.
Comfort Agency Statements: Again accepted as credibility statements they appearance that you can deliver exactly what you add you can. They must not be sensitive i.e. accommodate words according to the ace, fantastic, astonishing, superior or contain anything that cannot be proven i.e. aerial akin of customer fulfilment, unparalleled abutment, unless supported by facts.
Commission Plans: This is how a salesperson is paid for their efforts. It is strongly advised that you accommodate a minimum contribution and arrange that if you plotted a graph of gross edge and percentage of target it would actualize an incremental curve.
CRM: Customer Accord Management This is software that organises all your sales contacts, schedules activities and is used in targeted marketing campaigns. This is basic to all sales operations and there are abounding packages to choose from costing anything from £80.00 per user upwards i.e. ACT! Goldmine etc. Previously accepted as TCM.
Twin Bubble: Sales slang for two bodies being paid out the full amount of commission on a specific deal / incentive or the selfsame person being awarded twin the amount of commission.
Elevator Pitch: This chat comes from the theory that if you are in a lift on the 10 th floor of a building you should be able to statement for what you accomplish before it gets to the ground floor i.e. about 10 seconds. This is generally the opening statement of any anatomy of communication and is predominantly used in advance begetting and marketing activities.
Farmers: These are sales bodies who accept abundant skills in getting repeat orders and maximising revenue streams from existing accounts. It is actual abnormal that a acceptable Farmer will be acceptable at winning advanced clients.
Gross Edge: The aberration between your buy price and your sell price.
Hunters: These are sales bodies who are actual acceptable at winning advanced accounts and getting the aboriginal adjustment but tend to lose absorption when they apperceive that the advanced customer will abide to buy, this generally makes them actual bad farmers. Again accepted as Advanced Bag Sales Execs.
Kick Back: This is when a company gets an extra soft edge when they buy sufficient numbers / amount of a product. i.e. if you buy 10 cars we will accord you / or the company chargeless servicing.
Minimum Contribution: This is the statement amount that all sales staff are required to grasp, in gross edge terms, before any commission. This is put in abode to arrange that commission is not paid before staff accept covered their basic pay plus all other costs i.e. NI, biking, phone, expenses etc.
Advanced Bag Sales Execs: These are sales bodies who are actual acceptable at winning advanced accounts and getting the aboriginal adjustment but tend to lose absorption when they apperceive that the advanced customer will abide to buy, this generally makes them actual bad farmers. Again accepted as Hunters.
OTE: On Target Earnings This is how much the sales person will earn if they hit their sales target. Please note that when the person has achieved 50% of target they should not earn added than 30% of their OTE. By using this adaption it creates a further incentive for the salesperson to hit the their sales target.
Over Ride: This is the chat used when a sales person over achieves his target and hence is accustomed a ample bonus. Bethink the bigger the over rider, the bigger the incentive and hence this increases the motivation to over accomplish the gross edge sales target.
PPC: Pament Per Click This is a much-targeted adaption of advertising and enables sponsored links to be placed at the top of search engine results when your particular answer words or phrases are encountered. For each sponsored link placed you are charged from as babyish as 10 pence upwards.
Prospect: A company / person that you apperceive will crave your services and they are looking to purchase. Particularly if you accept been asked to easily for the assignment
RTR: Ready to Amble This is the chat used mainly by advertising agencies or companys for an advert which is ready to be placed. It is then accepted practice to abode the advert on the deadline in adjustment to amuse the lowest possible price.
Sales Forecast: The system that sales bodies and managers statement to attending at how much bag is likely to be won each month, unfortunately these are generally misleading due to sales processes that minimise inaccuracies not being implemented.
Sand Bagging: This is a manoeuvre used by sales bodies who authority back orders so that as abounding as possible fall in the selfsame month or quarter and hence they over accomplish the target to achievement a ample Over Rider. This is not alone expensive as extra commission is paid but can again accept actual abrogating effects on cash flow. By having a properly implemented Sales Forecast it is actual accessible to authorize if this is occurring.
SEO: Search Engine Optimisation This is the adaption of manufacture sure that your website gets lots of traffic and enables your company to be listed higher in the search engines for specific answer words and phrases i.e. car hire Newcastle, buy discount fishing rods, mortgage advice etc. The downside of this methodology is that it takes several months for your website to amuse a acceptable position on the above search engines i.e. Google, Yahoo etc.
Soft Edge: This is most commonly activate in the reseller marketplace and generally provided by the manufacturer in anatomy of marketing assistance i.e. for every £10,000 of product x sold we will accommodate you with y amount of almighty dollar that must be spent on promoting our product / service.
Suspect: A company / person that you apperceive will crave your services but annihilation else is accepted.
TCM: Age Contact Management This is software that organises all your sales contacts, schedules activities and is used in targeted marketing campaigns. This is basic to all sales operations and there are abounding packages to choose from costing anything from £80.00 per user upwards i.e. ACT, Goldmine etc. Any more accepted as CRM.
TMUP: Target Marketplace User Profile this is the type of company / person that would be a prime target for your bag i.e. single masculine 30 40 and divorced or SME services based companies with staff of between 3-10 bodies based within 5 miles of central London etc. Finding and Targeting your prime TMUP will lessen the cost of sales and access marketing and advanced bag efficiencys.
Tyre Kicker: This is a company / person who pretends to be absorbed in your product / service. This chat comes from the motor trade when customers would kick the tyres to fain absorption when they had no intention of buying a car and were aloof browsing / looking for a analysis drive. Sales bodies who are not performing and ambition to accord the impression that their sales pipeline is able generally put this type of prospect on their sales forecast.
USPs: Altered Selling Points i.e. what makes your company altered from its competitors. This is used predominantly in advance begetting and marketing activities and accordingly is a MUST HAVE for any sales strategy to assignment.
About the author:
Dave Ashton is a sales adding to consultant working for BIZAL Ltd and helps clients access sales for companies throughout the UK. for further details on sales adding to please appointment
Originall posted December 20, 2011