Glossary A-Z

A weighted sales pipeline involves attributing a value to each opportunity according to its current position within the sales process.

Proportion of the number of deals and the timeline within which each deal is closed

A statement that summarizes the benefits offered by a company or a product and how they are different from the existing solutions in the market.

An up-sell happens when a sales representative encourages an existing customer to upgrade to a higher-tier version of the SaaS software they originally purchased. For example, if you subscribed to a basic software package and the sales rep persuades you to upgrade to a more feature-rich plan, that's an upsell.

The initial phase of the purchasing journey, where leads recognize a problem and seek information. During this stage, marketers develop valuable content to assist leads in recognizing the issue and guiding them toward potential solutions.

List of software and other technologies used by the prospect

The potential revenue that can be generated from the product or service.

Sales enablement is the strategy of equipping sales teams with the right tools, information, and support to sell effectively, ultimately improving sales efficiency, customer interactions, and overall business growth.

Happysales uses high-quality relevant data sets to cover every use case.

Sales enablement is the strategy of equipping sales teams with the right tools, information, and support to sell effectively, ultimately improving sales efficiency, customer interactions, and overall business growth.

A sales methodology is the structured guide that defines how your sales representatives navigate through each stage of the sales process, encompassing philosophy, values, and principles.

Happysales AI uses recommendation models to enhance decision-making by suggesting actions and insights based on customer data.

A quota is the sales target that a rep is expected to achieve over a given time frame.

A contact who has gained knowledge about your product or service, and displays interest in knowing more. Marketing and Sales often have distinct categories of qualified leads (MQLs for Marketing and SQLs for Sales). Thus, it's crucial to communicate with your sales team to establish clear expectations regarding the kinds of leads you intend to pass on.

Prospecting involves searching for potential buyers, serving as the initial phase in the sales process. The objective is to guide these prospects through the sales funnel and transform them into devoted customers.

Positioning statements are remarks or inquiries that sales representatives use to initiate a conversation with prospects. The goal of a positioning statement is to kickstart a dialogue with the customer and understand their challenges or concerns.

The sequential procedure that sales representatives follow to turn a prospect into a customer. The sales pipeline is frequently segmented into stages representing each step, and the sales rep is tasked with progressing opportunities through these stages. It can also indicate a visual depiction of the sales process, where ongoing opportunities are organized by their corresponding sales stages.

The approach in which companies use data analysis and digital technology to provide personalized messages and product options to both existing and potential customers.

While each company follows its own methods to establish the criteria for identifying an opportunity, essentially it refers to a qualified lead that Sales is actively engaging with.

Onboarding involves introducing your solution to a customer and helping them get ready to use it post-purchase. It can also refer to the process of hiring and training a new sales representative.

Objection handling refers to addressing and overcoming customer concerns or doubts to persuade them to make a purchase. It involves providing answers and value to alleviate objections and move the sales process forward.

The process of building connections with buyers at all points of the sales journey through attentive listening to prospects' needs and furnishing them with the necessary information and solutions.

One of the sales signals that Happysales AI uses before providing insights and talking points.

The computation involves subtracting the revenue lost due to cancellations or downgrades from the total revenue, then adding any increased revenue from upgrades, cross-selling, and upselling.

The Net Promoter Score (NPS) is a customer satisfaction measure that gauges, using a scale of 0 to 10, how likely individuals are to recommend your company. This metric is acquired through a straightforward survey intended to help you assess customer loyalty. To compute NPS, subtract the percentage of customers who wouldn't recommend you (detractors, scoring 0-6) from the percentage who would (promoters, scoring 9-10). Regularly assessing your company's NPS empowers you to pinpoint methods for enhancing your offerings, thereby boosting customer loyalty.

Monthly recurring revenue pertains to the sum a business collects each month, often employed when the business operates on a subscription model.

The stage a lead moves into, after recognizing a problem where they seek to conduct additional research to discover a solution. Commonly referred to as the MOFU, this stage involves offerings such as case studies and product brochures that position your business as the solution to the problem the lead aims to resolve.

A markup is an amount added to the price of a solution to cover overhead.

A marketing-qualified lead is a lead that demonstrates interest in a business due to its engagement with the business's marketing content.

Lead scoring is a technique that orders potential customers based on the benefit they can bring to the business. The aim of lead scoring is to guide sales representatives in determining where to invest their time and effort for optimal profitability.

The procedure of evaluating if a potential buyer possesses specific attributes that make them suitable as a lead. These attributes might encompass factors like budget, authority, and timeline. Common acronyms for lead qualification criteria include GPCTBA/C&I and BANT.

An individual or business that has demonstrated curiosity in a product or service through various means. This could involve actions like completing a form, subscribing to a blog, or providing contact details to receive a coupon.

A knowledge base is a digital repository of information related to a company. It encompasses a wide range of content, from details about products to sales strategies and marketing outlines. Internal knowledge bases are designed for employee use, whereas external knowledge bases are customer-oriented and often feature FAQs and instructions on product usage.

A key performance indicator (KPI) is a quantifiable measure that shows how well a business is achieving its goals. Sales KPIs are present at various tiers - a top-level KPI might assess overall performance, like yearly expansion, while a lower-level KPI would concentrate on everyday tasks, such as the number of sales emails dispatched.

Data points around Topics that your potential prospects are researching. This is used by the AI engine alongside other sales signals

If a potential customer reaches out to you through digital marketing efforts (SEO and paid ads) without outreach, then the lead is considered an inbound lead.

A hard sell involves an aggressive sales strategy where the salesperson directly confronts the prospect's concerns. While this approach was effective in the past and can still generate substantial income in specific contexts, it's mostly considered old-fashioned. Nowadays, many companies lean towards a more gentle and less forceful approach. Hiring news - Information around any new hires for executive positions or job titles related to our ICP. This information is used by Happysales as one of the many sales signals used.

Happy sales uses Generative AI to create multiple email copies that can be used for prospecting

A sales framework similar to BANT used to qualify leads. It refers to G - Quantifiable goals that your prospect wants to achieve. You can use this to frame your story around how your software helps them achieve their goals. G - Quantifiable goals that your prospect wants to achieve. You can use this to frame your story around how your software helps them achieve their goals. P - Understand the prospect’s implementation plans to achieve their goals C - Understand what their current challenges are T - Determine the timeframe for the goal B - Determine the Budget to achieve the goal A - Understand if they have enough authority to make the final decision C - Discuss the negative consequences if they don’t achieve their goals I - Discuss the positive consequences if they achieve their goals

Predicting future sales outcomes for a projected timeframe using past data. Projected performance can differ significantly from actual sales results, but it aids sales representatives in scheduling their upcoming days, weeks, and months. Additionally, it assists senior personnel in establishing benchmarks for expenditures, profits, and expansion.

Data points related to the prospect’s company including industry, number of employees, revenue, growth prospects, etc

A field sales rep is an on-site sales representative who presents value demonstrations to potential customers. Their goal is to close the deals.

Happysales AI collects and uses feedback provided by the sales reps to improve its prediction and recommendation models. Higher usage of the product leads to an overall better experience

Escalations refer to situations where a customer's concern or issue is elevated to a higher level of authority or expertise within the organization. This is usually done when the initial support or sales agent is unable to resolve the matter satisfactorily or if the situation requires specialized attention. Escalations ensure that more experienced or senior staff members address the customer's needs to achieve a resolution or provide the necessary assistance.

The call that a sales representative and a sales engineer make where they demonstrate their product’s capabilities and answer any questions that the prospects might have before moving on to the trial and implementation stages.

The initial call that a sales representative initiates with a potential customer, aiming to inquire and assess their suitability for the next phase.

Demand or lead generation is a process that is focused on creating awareness and generating interest in a company's solution. It involves activities like nurturing leads, content marketing, and optimizing search engine visibility.

The individual or position responsible for ultimately deciding on a purchase. This decision-maker is often protected by a gatekeeper. The sales representative's task is to turn the gatekeeper into a supporter within the company.

Software that businesses use to organize and manage interactions with their customers and potential customers. It helps companies keep track of customer information, communication history, and sales activities, allowing them to improve customer relationships and streamline their sales and marketing processes.

The proportion of individuals who successfully take a specific action on a single webpage, like submitting a form, is known as the conversion rate. Webpages that have high conversion rates are doing well, whereas those with low rates are not performing as effectively.

Also known as the Deal win-loss ratio. It is defined by the number of prospects that are converted into paying customers by a sales representative. It’s used to gauge the short-term performance of a sales representative and can also be used for sales forecasting, and predicting profits. Teams always look to improve the closing ratio to grow faster

Making unprompted calls to sell products or services to prospects. Prospective customers

A set of signals that can be used to determine whether

A partly made-up version of your ideal customer, created using real information about your current customers and market research. This helps people in inbound marketing, like you, pinpoint the audience they want to reach, and it's also useful for salespeople to determine if potential leads are a good fit.

The stage of sales where the prospect is very close to a purchase. They have validated their problem, considered other options, and are very close to purchasing.

An acronym used by Sales teams to qualify their leads. It’s used to gauge whether the lead is a good lead to pursue. It stands for B - Budget - Understand whether the prospect has the required budget to purchase your product or serviceA - Authority - Determine whether the person you’re in touch with is the final purchase decision makerN - Need - Understand whether the business has an actual need to buy your product or serviceT - Timeline - Understand the implementation time period

The Annual Contract Value means how much money, we make from a customer's contract every year. We compare this to how much we earn from a customer over their entire time with us (Customer Lifetime Value) to understand how long it takes to cover the cost of getting that customer.

Accounts are records of interactions with a prospective business from purchase. The records include preferred services, transactions, and contact information.

Always Be Closing - An old sales strategy that says that everything a sales rep does is in the singular pursuit of closing a deal. It implies that if the deal is not completed, then everything they did is a failed step.