Business Process Management (BPM) is a systematic approach to improving an organization's business processes by analyzing, designing, implementing, and monitoring them to optimize efficiency and effectiveness. It streamlines and automates processes to reduce costs, improve productivity, and enhance overall performance across various industries and sectors, such as finance, healthcare, and manufacturing.
When implementing Business Process Management (BPM), it's important to be aware of common mistakes that can hinder success. Avoiding these pitfalls can help ensure a smoother BPM journey and better outcomes for your organization.
Business Process Management (BPM) tools and software play a crucial role in streamlining and automating processes. Some of the latest trends in BPM tools include Intelligent Business Process Management Systems (iBPMS), Low-code/no-code (LCNC) development, and integration of Robotic Process Automation (RPA) with BPM. These tools offer various integration capabilities, such as process mining, Business Process Model and Notation (BPMN) tools, workflow engines, and business rules engines (BREs).
Future developments in BPM tools and software are expected to focus on democratization through citizen developer tools, intelligent business process automation incorporating AI and machine learning, and adaptive process management for real-time iterative process modeling. Additionally, innovations in process modeling and simulation, generative AI for reimagining business processes, and convergence of BPM tools with AI improvements will drive continuous business transformation.
A positioning statement is a concise description of your target market and how your product or service uniquely fills their needs.
Consumer buying behavior is the study of how individuals select, buy, and use products and services to satisfy their needs and desires.
Mid-market companies are businesses larger than small businesses but smaller than large enterprises, often defined by revenue or employee size.
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Inside sales metrics are quantifiable measures used to track the performance, activities, and effectiveness of an internal sales team.
Multi-touch attribution is a marketing analytics method that credits multiple touchpoints on the customer journey for a conversion.
Lead scoring models rank prospects by assigning points for their behaviors and demographics, helping sales teams prioritize their outreach.
An Operational CRM is a system that automates and improves customer-facing business processes like sales, marketing, and customer service.
The marketing mix is the set of marketing tools a company uses to sell products, defined by the 4Ps: Product, Price, Place, and Promotion.
A Call for Proposal (CFP) is a document that solicits proposals, often through a bidding process, for a specific project or service.
Accessibility testing is a software testing method that verifies an application is usable by people with disabilities, like vision or hearing loss.
Outbound lead generation means proactively reaching out to potential customers who haven't yet expressed interest to introduce them to your brand.
A Single Page Application (SPA) is a web app that interacts with the user by dynamically rewriting the current page rather than loading new pages.
An inside sales rep sells products or services remotely from an office, using digital tools like phone and email to connect with customers.
Serviceable Obtainable Market (SOM) is the portion of the market you can realistically capture with your current resources, sales, and marketing.
The purchase stage is when a buyer has decided on a solution and is ready to buy. They're comparing vendors to make a final choice.
Sales coaching is a process where managers help reps improve their skills and performance through personalized feedback, training, and guidance.
CRM analytics is the process of analyzing data from your CRM to uncover insights that help you better understand and serve your customers.
Internal signals are data points from your own systems, like website visits or product usage, that indicate a customer's buying intent.
A sales sequence is a series of automated touchpoints sent to prospects over time to guide them through the sales funnel.
Video hosting is a service that allows users to upload, store, and share video content online, making it accessible for playback anywhere.
A lead list is a curated database of potential customers (leads) with contact information and other key data for sales and marketing outreach.
Objection handling is the process of responding to a prospect's concerns or hesitations about a product or service to move a deal forward.
Escalations are the process of moving a customer issue or sales opportunity to a more senior or specialized team member for resolution.
Sender Policy Framework (SPF) is an email authentication method that lets you specify which mail servers can send emails on behalf of your domain.
Sentiment analysis, or opinion mining, automatically determines the emotional tone behind text—whether it's positive, negative, or neutral.
Load testing is a type of performance testing that determines how a system behaves under both normal and anticipated peak load conditions.
A sales strategy is a comprehensive plan that outlines how a business will sell its products or services to achieve its revenue goals.
Net Revenue Retention (NRR) is the percentage of recurring revenue kept from existing customers, including upsells, downgrades, and churn.
A sales dashboard is a visual tool that centralizes and displays key sales data, metrics, and KPIs to help teams track performance and goals.
Sales velocity is a key metric measuring the speed at which your company makes money. It shows how fast deals move through your sales pipeline.
NoSQL ("Not only SQL") databases offer a flexible alternative to relational models, excelling at managing large and unstructured data sets.
Demand capture is the strategy of engaging potential customers who are already actively looking for a solution that your company provides.
Conversion rate is the percentage of visitors who complete a desired goal, like a purchase or sign-up, out of the total number of visitors.
A value gap is the difference between the value a customer expects from a product and the actual value they receive, often leading to churn.
Account-Based Sales (ABS) is a focused B2B strategy where sales and marketing teams treat high-value accounts as individual markets of one.
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Digital advertising is the practice of delivering promotional content to users through various online and digital channels like social media or search engines.
Customer Retention Rate (CRR) is the metric that measures the percentage of customers a company has kept over a specific period of time.
Sales development is the process of identifying and qualifying potential customers to create a pipeline of sales-ready leads for closers.
Fault tolerance is a system's ability to continue operating without interruption when one or more of its components fail.
A Data Management Platform (DMP) is a tech platform used to collect and manage data, mainly for digital marketing and advertising campaigns.
Data appending is the process of adding new data fields to your existing database records to enrich and complete your information.
Regression analysis is a statistical method for estimating the relationships between a dependent variable and one or more independent variables.
Video selling uses personalized video messages to engage prospects, build rapport, and guide them through the sales funnel to close more deals.
An enterprise is a large-scale organization, often a corporation, defined by its complex structure and substantial number of employees.
Platform as a Service (PaaS) is a cloud model where a provider delivers a platform for users to develop, run, and manage applications online.
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User-generated content (UGC) refers to any form of content, like images, videos, or text, created and shared by users on online platforms.
Referral marketing is a strategy that incentivizes existing customers to recommend a company's products or services to their personal network.
Cost Per Click (CPC) is a digital advertising model where an advertiser pays a fee each time one of their ads gets clicked by a user.
Hot leads are prospective customers who have shown significant interest and are ready to buy, making them a top priority for sales teams.
Click-through rate (CTR) is a metric that measures the percentage of people who click on a specific link, ad, or call-to-action.
LinkedIn InMail messages are a premium feature that lets you directly message any LinkedIn member, even if you're not connected to them.
Solution selling is a sales approach focused on understanding a customer's pain points to offer a comprehensive solution, not just a product.
The Challenger Sales Model is a sales approach where reps challenge a customer's thinking by teaching, tailoring, and taking control of the sale.
Sales Operations Management streamlines sales processes, tech, and data analysis to help sales teams sell more effectively and efficiently.
A Quarterly Business Review (QBR) is a recurring meeting to assess performance against goals and align on strategy for the next quarter.
A Representational State Transfer (REST) API is a web service that uses a simple, stateless architecture for systems to communicate online.
Price optimization is the process of finding the ideal price for a product or service to maximize profitability or other business objectives.
A sales pipeline is a visual representation of where prospects are in the sales process, from the first contact to the final sale.
Lead conversion is the process of turning a prospect into a customer by getting them to complete a desired action, such as making a purchase.
The Jobs to Be Done (JTBD) framework focuses on understanding customer needs by identifying the specific 'job' they are trying to accomplish.
Serverless computing is a cloud model where the provider manages servers, so developers can focus on code without worrying about infrastructure.
Market intelligence is the process of collecting and analyzing data about your target market, competitors, and industry to guide business strategy.
Channel marketing is a strategy where a company sells its products or services through third-party partners, like resellers or affiliates.
Lead generation software helps businesses automate finding and capturing potential customers' contact information to build sales pipelines.
Account-based advertising is a hyper-focused B2B strategy that targets key accounts with personalized ads across multiple channels.
Revenue forecasting is the process of estimating a company's future revenue, using historical data and market trends to guide strategic planning.
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Email deliverability is the ability for your emails to successfully land in your recipients' inboxes instead of their spam folders.
Customer segmentation is dividing customers into groups based on shared traits. This allows for more targeted and effective marketing efforts.
A Marketing Qualified Opportunity (MQO) is a lead vetted by marketing as a genuine sales opportunity, ready for direct sales follow-up.
Software as a Service (SaaS) is a cloud-based model where users subscribe to an application and access it over the internet.
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Website visitor tracking collects and analyzes data on user behavior to understand their journey and improve the overall user experience.
Personalization in sales means tailoring outreach to a prospect's specific needs, interests, and context to make communication more relevant.
Targeted marketing focuses on specific consumer groups whose needs align with your product, allowing for more personalized and effective messaging.
An Application Programming Interface (API) is a set of rules that lets different software applications talk to each other and share information.
An Account Development Representative (ADR) identifies and qualifies new business opportunities, creating a pipeline for account executives.
A Unique Selling Point (USP) is the distinct feature or benefit that sets your product, service, or brand apart from the competition.
Site retargeting is a marketing strategy that shows ads to people who have previously visited your website but left without converting.
Expansion revenue is the extra money a business makes from its current customers via upgrades, new products, or additional services.
A sandbox is an isolated testing environment where new or untrusted code can be run safely without affecting the host device or network.
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Going dark is when a once-responsive prospect suddenly stops all communication, leaving you wondering what went wrong.
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A small to medium-sized business (SMB) is a company whose employee count and annual revenue fall below certain industry-specific thresholds.
Customer experience (CX) is a customer's total perception of your business, based on every interaction across the entire customer lifecycle.
A complex sale features a long sales cycle, multiple stakeholders, and a high-value transaction, demanding a strategic, consultative approach.
A sales champion is your internal advocate at a target company. They believe in your product and help you push the deal forward to close.
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A Sales Development Representative (SDR) is a sales specialist who finds and qualifies new leads, building a pipeline for the sales team.
A demand generation framework is a strategic process for creating awareness and interest in your product, ultimately driving new business.
Annual Recurring Revenue (ARR) is the predictable income a company expects to receive from its customers over a one-year period.
Drupal is a free, open-source content management system (CMS) for building websites and applications. It's known for its robust flexibility.
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Lead scoring is the process of assigning points to leads based on their attributes and actions to determine their sales-readiness.
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