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Business Development Terms
Whether you are just starting or already have experience in prospecting, don't get in hot waters
for misusing the buzzwords. Be the smartest person in the room – learn what they mean.
Account-Based Marketing/ Selling
Demand Generation Marketing
Ideal Customer Profile
Marketing Qualified Lead
Net New Logo
SPAM / Complaint
Word of Mouth Marketing
B2B method of selling to a target list of accounts, where each account has a strategy, outreach plan, and dedicated resources to allow for personalized multi-point engagement and experience by the prospects when engaging with multiple teams from your company.
Experiment outreach on a small scale involving two or mover variants used for measuring response to all variants in order to determine the best one (the winner) to be deployed at full scale.
The applications, infrastructure and tools, and best practices that enable access to and analysis of information to improve and optimize decisions and performance of the business.
Data that is collected about business web users' observed behavior – specifically web content consumption – that provides insights into their interests and from this indicate potential intent to take an action.
Click-through rate (CTR) is the ratio of users who click on a specific link to the number of total users who view a page, email, or advertisement. It is commonly used to measure the success of an online advertising campaign for a particular website as well as the effectiveness of email campaigns.
Conversion Rates are the percentage of prospects who take a specific action you want. A conversion can refer to any desired action that you want the prospect to take – fill out a form on your website, return your call, respond to your email.
Email deliverability is the ability to deliver emails to subscribers' inboxes. High deliverability means that more of your emails appear in an inbox of the prospects. Low deliverability shows that your emails are classified as spam.
Marketing role in B2B organization essentially responsible for strategy and execution of high-volume communication and outreach initiatives aimed at acquiring high volume of quality leads.
Bounced emails are addresses that could not be delivered successfully to recipients. There are two types of bounced emails: hard bounces, and soft bounces.
A score that an Internet Service Provider (ISP) assigns to an organization that sends email. ... If the score falls below a certain threshold, the ISP may send messages to recipients' spam folders or even reject them outright.
Essentially, firm demographics that are sets of characteristics to segment prospect organizations. Commonly used firmographics include SIC, company size and location.
The marketing term for the journey potential customers go through on the way to purchase. There are several steps to a sales funnel, usually known as the top, middle, and bottom of the funnel, although these steps may vary depending on a company's sales model. Includes Marketing and Sales stages.
A hard bounce is an email message that has been returned to the sender because the recipient's address is invalid. A hard bounce might occur because the domain name doesn't exist or because the recipient is unknown.
Business sells its goods or services to a large number of customers, across multiple industries and segments of the market, because services or goods satisfy a wide range of needs.
Description of the target account (company) — not the individual buyer or end user — that’s a perfect fit for your solution. The ICP should focus on relevant characteristics of your target accounts, such as industry, employee headcount, annual revenue, geography, technographics, etc.
Software and hardware already purchased, installed by the company as a part of its overall tech stack.
Department or a sub-department within the organization with roles, responsibilities, skillsets, objectives and results are the distinctively different from other Job Areas. Can be large areas like Sales vs Engineering, or smaller teams like Graphic designer vs Web Design.
Indicates spot in a corporate hierarchy the individual prospect has. The higher the level (C-Level, VP-Level vs Manager-Level), the more authority and decision-making power that prospect has.
Most desirable high-value accounts that are sold to by the most experienced and productive sales reps and BDRs. These accounts have the highest potential to bring higher-than-average revenues or are prestigious to have among customer base.
Key Performance Indicator is a measurable value that demonstrates how effectively a company or an individual is achieving results is a business activity such as booking appointments or inviting prospects to a webinar.
An individual, a prospect that expressed some interest in the area of your solutions (usually by consuming marketing content) or a key person at a target account that your organization believes fits ICP (Ideal Customer Profile) and is likely to become a customer. Lead requires further qualification by Marketing and Sales for confirming that fit.
The process of developing relationships with buyers at every stage of the sales funnel, and through every step of the buyer's journey. It focuses marketing and communication efforts on listening to the needs of prospects, and providing the information and answers they need.
The information relevant to a company's markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining strategy in areas such as market opportunity, market penetration strategy, and market development.
MQL a lead who has indicated interest in what a brand has to offer based on marketing efforts or is otherwise more likely to become a customer than other leads. MQL, unlike SQL, is not ready for the buying stage yet.
An account that your organization never sold anything to yet and is a first-time buyer of products and services from your company.
The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments based on their activities.
A sales opportunity is a qualified prospect who has a high probability of becoming a customer.
Email open rate is the percentage of the total number of email recipients who opened an email campaign. Marketing emails can get between 5% and 60% open rates, sales emails between 40-50%, depending on how targeted and relevant they are to respondents.
Activities related to searching and connecting with potential buyers conducted by sales reps in order to qualify leads and move them through the sales cycle to deal closing.
A person regarded as likely to succeed or as a potential customer.
A prospect who was researched and profiled in various ways (research, direct email or phone communication) for their suitability with your offerings.
Estimate of the price or the cost of services or products that's generated by the sales rep, BRD or a sales deal desk.
Marketing activities that are aimed at developing and managing trusting and long-term relationships with larger customers. In relationship marketing, customer profile, buying patterns, and history of contacts are maintained in a sales database, and an account executive is assigned to one or more major customers to fulfill their needs and maintain the relationship.
Quantified measurement of the amount of people who responded to a marketing or sales call-to-action.
Information that helps sales people better understand their prospects and helps close more deals.
Data that identifies an entity as a potential buyer of a product or service.
Spam is irrelevant or inappropriate messages sent on the Internet to a large number of recipients that are undesirable. Spam complaint reports made by email recipients against emails they don't want in their inbox result in lower deliverability and, if repeated, can lead to the IP address blocking of the emailing company, preventing it from emailing.
A pre-selected subset of all potential targets that the company would like to acquire as customers, identified based on some criteria.
All purchased and installed software, hardware, middleware and other technology by a particular company. Includes solutions that were custom-developed or developed in-house.
Request by a prospect or customer to cancel subscription and discontinue marketing outreach via email and/or other methods as indicated by the prospect or customer. Failure to record and comply with this request may lead to significant consequences to the company that does not respect unsubscribe requests.
Selling a more advanced and a more expensive version of the product, upgrading an initial purchase or convincing the prospect to purchase a more expensive solution than initially planned.
Data validation is a manual process to verify and confirm that the prospecting data is correct. Validation may be necessary, if the prospect changed the jobs and is no longer with the company.
A segment within an industry that is made up from similar customers and businesses. Frequently used as a synonym of the word "Industry."
Study of the characteristics and user profiles of a site's visitors. This profile includes factors such as the type of computer platform, browser (with its version number), and connection speed. This information helps the site's administrator to decide on the level and type of site's content, frequency of updates, inclusion of hypertext links, etc.
Voluntary recommendation by a happy customer to the prospective customer of a good service or product.