WITH ANSWERS GUARANTEE A+
✔✔Account Manager/AM/Farmer - ✔✔A sales team member in charge of managing
and up-selling existing clients and accounts.
✔✔Annual Recurring Revenue (ARR) - ✔✔The amount of money a customer pays you
every year on a subscription model.
✔✔Annual Contract Value (ACV) - ✔✔The annual contract value is the average
annualized revenue per customer contract. ACV is usually compared against customer
lifetime value to see how long it takes to pay back the cost of acquiring a customer.
✔✔Account-Based Selling - ✔✔strategy where the entire company coordinates to
pursue high-value accounts. The departments that are most typically involved in
account-based selling are sales, marketing, and customer success.
✔✔Business Development Representative - ✔✔Also known as a Sales Development
Representative (SDR). This representative is a sales specialist focused on finding new
prospects, establishing foundational relationships, and updating the sales pipeline with
new leads
✔✔Business to Business (B2B) - ✔✔Selling business to business
✔✔Business to Consumer (B2C) - ✔✔Selling business to consumer
✔✔Business Unit - ✔✔A group of people representing a specific department or product
within a company, such as accounting or manufacturing
✔✔Buyer Persona - ✔✔a semi-fictional generalized representation of your customers
that accounts for the demographics, goals, motivators, and challenges they are facing
✔✔Buying Signal - ✔✔verbal or nonverbal cues that show a customer is ready to make
a purchase, such as signing up for a free trial or asking about contract specifics
✔✔C-Level/C-Suite - ✔✔highest level executives; C stands for Chief - like Chief
Executive Officer (CEO)
✔✔Champion - ✔✔a prospect within a company that wants to purchase your products
on behalf of another company
✔✔Channel Partner - ✔✔a person or company that offers services or products on
behalf of another company
, ✔✔Channel Sales - ✔✔focusing on different sales channels, such as in-house sales
team, retailers, referrals, dealers, etc.
✔✔Churn - ✔✔the percentage of clients that leave or stop using a product or service
within a certain time period
✔✔Closing Ratio - ✔✔the number of deals closed compared to the number of engaged
prospects
✔✔Clients - ✔✔closed opportunities, paying clients, people account managers should
be taking care of
✔✔Closers - ✔✔account executives; focused on closing deals; only prospect a small
number of strategic accounts
✔✔Cold Call - ✔✔attempt to engage with a prospect (with whom you don't yet have a
relationship) on the phone
✔✔Cold Email - ✔✔attempt to engage with prospect (with whom you don't yet have a
relationship) via email
✔✔Customer Acquisition Cost (CAC) - ✔✔cost to acquire a new paying client
✔✔Customer Lifetime Value - ✔✔aka lifetime value (LTV); total lifetime value of one
client in terms fo the revenue they'll bring in before they churn
✔✔Customer Relationship Management (CRM) - ✔✔a software or internet-based
service that helps business owners and sales professionals manage their sales pipeline,
track prospects and related activities through the sales cycle
✔✔Customer Success - ✔✔a strategy and proactive mindset that helps reduce churn
rates, increase customer satisfaction with a product/service, and the predictability of
recurring revenue
✔✔Decision Maker - ✔✔the person in charge of making the purchasing decision at a
company
✔✔Fortune 500 - ✔✔a list of the 500 largest companies in the US based on revenue
✔✔Gatekeeper - ✔✔the person who answers the corporate phone and decides whether
or not to let you talk to the decision maker
✔✔ICP - ✔✔ideal customer profile = profile of the ideal client for your business