A buyer, also known as a purchasing agent, is a professional responsible for acquiring products and services for companies, either for resale or operational use. They are pivotal in the supply chain, working to ensure profitability and efficiency by sourcing goods at optimal prices, managing inventory, and maintaining supplier relationships.
Buyers play a multifaceted role in various industries, including manufacturing, retail, and government sectors. Their key responsibilities include:
The buyer's journey comprises three stages: awareness, consideration, and decision:
To understand and influence buyer decisions, consider:
Effective engagement strategies are crucial for converting potential buyers into customers. Some effective tactics include:
A Digital Sales Room is a private online space where sellers share all relevant content with buyers to streamline the sales cycle.
A lead generation funnel is a systematic process that guides potential customers from initial awareness of your brand to becoming qualified leads.
Rapport building is the process of establishing a connection and mutual understanding with someone, creating a foundation of trust and affinity.
Enrichment is the process of adding third-party data to your existing customer profiles to get a more complete picture of your leads.
Learn about buyer intent data, including sourcing and interpreting buyer intent data, & key metrics in buyer intent analysis.
LinkedIn Sales Navigator is a premium tool helping sales teams find and engage with the right leads and accounts on the LinkedIn network.
A Target Account List (TAL) is a focused list of high-value companies that a business specifically aims to convert into customers.
A Content Delivery Network (CDN) is a system of distributed servers that deliver web content to users based on their geographic location.
A Sales Development Representative (SDR) is a sales specialist who finds and qualifies new leads, building a pipeline for the sales team.
A needs assessment is the process of identifying the gap between a company's current state and its desired future state.
Employee advocacy is the promotion of an organization by its staff members, who share positive messages and content through their personal networks.
The C-suite, or C-level, refers to a company's most senior executives. Their titles usually start with 'Chief,' such as CEO, CFO, or CTO.
Account-Based Sales Development (ABSD) is a focused strategy where SDRs target key stakeholders within specific, high-value accounts.
Sales Engineers blend deep technical knowledge with sales acumen, demonstrating a product's value and solving customer problems to drive revenue.
Sales Operations, or Sales Ops, streamlines sales processes, manages tools, and analyzes data to help sales teams sell more effectively.
The FAB technique is a sales framework connecting product features to advantages and then to the specific benefits for the customer.
A draw on commission is an advance payment a salesperson receives against future earnings, which is later repaid from earned commissions.
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.
Git is a distributed version control system that tracks changes in code, allowing developers to collaborate and manage project history effectively.
Mid-market companies are businesses larger than small businesses but smaller than large enterprises, often defined by revenue or employee size.
A demand generation framework is a strategic process for creating awareness and interest in your product, ultimately driving new business.
Regression analysis is a statistical method for estimating the relationships between a dependent variable and one or more independent variables.
Day Sales Outstanding (DSO) is a financial ratio that shows the average number of days it takes for a company to receive payment for a sale.
A buying signal is any action from a prospect that indicates they are interested in making a purchase, helping sales teams prioritize leads.
The customer lifecycle is the journey a person takes from first becoming aware of your brand to becoming a loyal, repeat customer.
User Experience (UX) refers to a person's overall feelings and perceptions while interacting with a product, system, or service.
The buyer journey maps the path a potential customer takes, from first learning about a product to the final decision to buy.
Call analytics is the practice of analyzing phone call data to extract insights, track key metrics, and improve overall business performance.
Sales and marketing analytics involves measuring and analyzing performance data to maximize effectiveness and optimize return on investment (ROI).
Inbound leads are potential customers who proactively reach out after finding your business through content, social media, or search.
Learn about bulk API, including how it works, the advantages of using it, common use cases, and tips for optimizing it.
Average Revenue per Account (ARPA) is the average revenue generated from each customer account, usually measured on a monthly or annual basis.
A Sales Manager leads a sales team, setting goals, analyzing performance, and developing strategies to drive revenue and meet targets.
A sales presentation is a formal pitch by a salesperson to a prospective customer, showcasing a product or service to secure a sale.
Learn about big data, including understanding big data characteristics, benefits of leveraging big data, & challenges in managing big data.
Deal closing is the final step in a sales cycle. It's when a prospect signs a contract and officially converts into a paying customer.
Direct mail is a marketing method where businesses send physical promotional materials directly to potential customers' mailboxes.
Closed Lost is a sales term for a deal that didn't go through. The prospect decided not to buy, or the sales team disqualified them.
A hybrid sales model blends traditional and digital sales methods to engage customers across multiple channels and buying preferences.
Outbound sales is when reps proactively contact potential customers through cold calls or emails to generate leads and build a sales pipeline.
Revenue Operations KPIs are quantifiable metrics that track the performance, efficiency, and health of a company's revenue-generating engine.
HubSpot is a customer relationship management (CRM) platform with tools for marketing, sales, and service, all aimed at helping businesses grow.
Competitive intelligence (CI) is the ethical gathering and analysis of market data to inform strategic business decisions and gain an advantage.
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.
Solution selling is a sales approach focused on understanding a customer's pain points to offer a comprehensive solution, not just a product.
An Operational CRM is a system that automates and improves customer-facing business processes like sales, marketing, and customer service.
A conversion path is the journey a visitor takes to complete a desired goal, such as making a purchase, filling out a form, or subscribing.
Real-time data processing is the method of analyzing data the instant it's generated, enabling immediate actions and decision-making.
Lead generation tactics are the strategies and methods used to attract potential customers and convert them into leads for your sales team.
Data-driven marketing uses customer data to inform marketing decisions, optimize campaigns, and deliver personalized experiences to consumers.
Think of a trademark as a brand's unique signature—a word, symbol, or phrase that legally protects its identity and sets it apart from the rest.
Edge locations are globally distributed data centers that cache content close to users, reducing latency and delivering web content much faster.
A decision-maker is an individual with the authority to make significant choices for a company, especially regarding purchases or strategy.
A sales dashboard is a visual tool that centralizes and displays key sales data, metrics, and KPIs to help teams track performance and goals.
Geo-fencing creates a virtual boundary around a real-world location. It triggers actions on a device when it enters or exits this area.
Custom Metadata Types store application configurations as metadata. This makes them easily deployable between different Salesforce environments.
Cloud storage is a service model where data is stored on remote servers and accessed from the internet, rather than on a local drive.
Price optimization is the process of finding the ideal price for a product or service to maximize profitability or other business objectives.
Salesforce Object Query Language (SOQL) is a query language used to search your organization's Salesforce data for specific information.
A weighted sales pipeline forecasts revenue by assigning a closing probability to each deal, giving a more accurate picture of potential income.
Funnel analysis is a method for understanding the steps users take to complete a goal, revealing where they drop off in the conversion process.
Expansion revenue is the extra money a business makes from its current customers via upgrades, new products, or additional services.
Subscription models are a business strategy where customers pay a recurring fee at regular intervals for access to a product or service.
Psychographics categorizes people by their attitudes, interests, and lifestyles, revealing the 'why' behind their purchasing decisions.
"Smile and dial" is a high-volume sales tactic where reps make numerous cold calls from a list, often with little to no prior research.
Data encryption translates data into another form, or code, so that only people with access to a secret key or password can read it.
Webhooks are automated messages sent by an app when a specific event occurs. They push real-time data to another app's unique URL.
A User Interface (UI) is the point where humans and computers interact. It encompasses all visual elements like screens, icons, and buttons.
Drupal is a free, open-source content management system (CMS) for building websites and applications. It's known for its robust flexibility.
An API (Application Programming Interface) is a software intermediary that allows two applications to talk to each other and exchange information.
“Always Be Closing” (ABC) is a sales mantra meaning every action a salesperson takes should be with the ultimate goal of closing the sale.
GPCTBA/C&I is a sales qualification framework for understanding a prospect's goals, plans, challenges, timeline, budget, and authority.
Key accounts are a company's most valuable customers, vital due to their significant revenue contribution and strategic importance for growth.
Mobile optimization adapts your website to ensure visitors on smartphones and tablets have a seamless, user-friendly experience.
Phishing attacks are fraudulent attempts to trick you into revealing sensitive data like passwords or financial info by posing as a trusted source.
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.
Firmographic data is information used to classify firms. It includes attributes like industry, employee count, location, and annual revenue.
Customer experience (CX) is a customer's total perception of your business, based on every interaction across the entire customer lifecycle.
A sales stack is the suite of tech tools—from CRMs to prospecting software—that sales reps use to close deals faster and more efficiently.
Tokenization is the process of breaking down text into smaller units called tokens, such as words or characters, for AI to process.
Customer relationship marketing is a strategy for building lasting connections with customers to foster long-term loyalty and engagement.
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.
Learn about business intelligence, including key components of business intelligence, the role of BI in decision making, business intelligence tools and techniques.
Ramp-up time is the period a new hire takes to get fully up to speed and become a productive member of your go-to-market team.
Learn about browser compatibility, including understanding the importance, common challenges, best practices, & tools for testing.
Event tracking is the method of collecting data on specific user actions, or 'events,' on a website or app, such as clicks or downloads.
A sales enablement platform centralizes content, training, and analytics to help sales teams engage buyers and effectively close deals.
An elevator pitch is a short, memorable summary of what you do, designed to be delivered in the time it takes to ride an elevator.
A Request for Proposal (RFP) is a formal document that outlines a project's needs and invites qualified vendors to submit bids to complete it.
Lead generation software helps businesses automate finding and capturing potential customers' contact information to build sales pipelines.
Content Rights Management involves controlling the use and distribution of copyrighted digital media to protect intellectual property.
Precision targeting is a marketing strategy that uses data to identify and reach a highly specific audience most likely to convert.
A tire-kicker is a prospect who shows interest in a product but has no intention of buying, wasting a salesperson's time and resources.
Learn about B2C2B, including how B2C2B transforms sales, key strategies for B2C2B success, & differences between B2C2B and B2B2C.
CPM, or Cost Per Mille, is a key advertising metric. It's the cost an advertiser pays for one thousand views or impressions of a single ad.
GDPR compliance means following the EU's strict data protection laws to ensure the secure and lawful handling of personal data.
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.
Learn about behavioral analytics, including implementing behavioral analytics successfully, & key metrics in behavioral analytics.
Email verification is the process of confirming that an email address is valid and deliverable, which helps improve campaign performance.