GETTING STARTED
ULTIMATE SDR/BDR STARTER GUIDE ⚡
Before reading this. Join Sales Hacker. This page is ‘borrowed’ from there. pst. Sales Hacker, if you don’t approve, let us know. We can take it down
With the rise of AI, new sales technology and automation at the forefront of the sales echo chamber these days, we thought we’d take a moment to bring it back to BASICS – that’s why we’ve rounded up this complete glossary of sales terms and definitions to help you remember where it all started.
This practical sales glossary is meant for anyone in sales who needs to refresh their memory on the most commonly used sales terms – especially new reps who are still learning the playing field.
We’d also recommend this guide for any sales managers or business development leaders who are onboarding new reps. This sales glossary is meant to reduce ramp time for new reps that are getting immersed in B2B sales jargon for the first time.
Editor’s note: Special thanks to Acceleprise for helping us define these sales terms!
It is a sales strategy rooted behind the idea that every step a sales rep takes throughout the sales process aims towards closing a sale.
AB Testing (or Split Testing) is an experiment involving two variants, usually for measuring and comparing the market response to each. For example, you can measure visitor traffic or conversion rate on two different web pages having similar content and purpose.
Account refers to a record of primary and background information about an individual or corporate customer, including contact data, preferred services, and transactions with your company.
Account-based Everything (ABE) or Account-based Revenue (ABR) is a framework that entails full coordination of customized care and management of targeted customer accounts across all relevant units of your organization (such as marketing, sales, finance, and product development) as well as the entire customer life cycle from lead generation to after-sales support.
Account-Based Marketing (ABM) is a strategic framework that engages qualified individual prospects or customer accounts as unique markets in themselves, worthy of focused, hyper-personalized treatment by sales, marketing, and other teams.
Account-Based Selling (ABS) or Account-Based Sales Development (ABSD) is a primarily B2B selling framework that treats qualified or high-value accounts as unique markets in themselves, where each account deserves dedicated resource allocation as well as hyper-personalized and multi-point engagement with different teams from your organization.
An account development representative (ADR) is a sales specialist focusing on attracting, qualifying, and securing new leads for further engagement, conversion, and nurturing by account executives.
An account executive (AE) is a sales specialist who has primary responsibility for one or more customer accounts (called a portfolio), commonly tasked not only to nurture and grow the company’s relationships with said accounts but sometimes also to convert qualified leads into paying customers.
Accounts Payable refers to an accounting entry denoting the amount of short-term monetary obligation your company owes its suppliers, vendors, and other service providers.
Accounts Receivable refers to the amount of money yet to be collected from your customers who purchased a product or subscribed to a service.
Accredited Investor – Legally, $200k+/yr (or 300 w/ spouse) take-home or 1M+ assets.
Amortization – paying off debt on a fixed schedule or spreading a write-down over time.
Analytics is the active study of different types of data with the aim of discovering meaningful patterns and translating these into insight (such as historical analyses and forecasts), or action (such as those intended to improve business performance).
Annual Recurring Revenue (ARR) is the value of contracted, often subscription-based revenues normalized for one calendar year.
Application Program Interface (API) is an accessible technical framework for exchanging data.
Applicant Tracking System (ATS) is a giant fancy excel chart used to follow hiring.
Artificial Intelligence (AI) refers to a system of computers, software, machines, and processes that simulate certain aspects of human intelligence such as image perception, voice recognition, and reasoning.
Average Contract Value (ACV) is the average revenue you derive from a single customer in a given period. It is called Annual Contract Value (ACV) when annualized and Average Purchase Value (APV) when the revenue derived is not subscription-based.
Average Sale/Selling Price (ASP) is a term that may refer to the average price of a product in a given market or channel or the price a certain class of products or services is commonly sold for.