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 firewall is a digital barrier that protects a network by monitoring and controlling traffic, blocking unauthorized access and malicious content.
Account-Based Selling is a B2B strategy where sales and marketing treat high-value accounts as markets of one, using personalized outreach.
Customer loyalty is a customer’s devotion to a brand, shown by their repeat purchases and engagement, driven by positive experiences and trust.
Discount strategies are pricing tactics used to attract customers and boost sales by temporarily reducing the price of products or services.
A draw on commission is an advance payment a salesperson receives against future earnings, which is later repaid from earned commissions.
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.
Learn about B2B demand generation, including strategies for effective B2B demand generation, & key components of a demand generation program.
A trusted advisor is an expert who builds a deep client relationship by consistently prioritizing their best interests over any single transaction.
A sales methodology is the framework that guides how your sales team approaches the entire sales process, from prospecting to closing deals.
Click-through rate (CTR) is a metric that measures the percentage of people who click on a specific link, ad, or call-to-action.
A sales enablement platform centralizes content, training, and analytics to help sales teams engage buyers and effectively close deals.
Learn about big data, including understanding big data characteristics, benefits of leveraging big data, & challenges in managing big data.
A sales cycle is the series of steps a company takes to close a new customer. It starts with prospecting and ends with a signed deal.
An inside sales rep sells products or services remotely from an office, using digital tools like phone and email to connect with customers.
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.
A closed question is a type of query that elicits a simple, often one-word answer like 'yes' or 'no,' or a specific, factual response.
Loss aversion is our tendency to feel the sting of a loss more acutely than the pleasure of an equivalent gain.
Cloud storage is a service model where data is stored on remote servers and accessed from the internet, rather than on a local drive.
Intent-based leads are potential customers whose online actions—like searches or content engagement—signal a clear interest in buying a solution.
Sales partnerships are strategic alliances where two companies co-sell products to expand their reach, generate new leads, and increase revenue.
Logo retention is a key B2B metric that measures a company's ability to retain its customers, or 'logos,' over a specific period.
Social proof is a psychological phenomenon where people assume the actions of others reflect correct behavior for a given situation.
A needs assessment is the process of identifying the gap between a company's current state and its desired future state.
A Content Management System (CMS) is software for creating, managing, and modifying website content without needing specialized technical skills.
On-Target Earnings (OTE) is a salesperson's total potential pay, combining base salary and commission for hitting their sales quota.
Funnel analysis is a method for understanding the steps users take to complete a goal, revealing where they drop off in the conversion process.
Serviceable Available Market (SAM) is the segment of the total market that your business can realistically serve within its geographical reach.
Lead generation software helps businesses automate finding and capturing potential customers' contact information to build sales pipelines.
Pipeline coverage is a key sales metric. It's the ratio of your total open pipeline value to your sales quota for a specific period.
Objection handling is the process of responding to a prospect's concerns or hesitations about a product or service to move a deal forward.
Learn about break-even, including calculating your break-even point, importance of break-even analysis, & break-even analysis vs. profit margins.
API security is the practice of protecting application programming interfaces from attacks, preventing data breaches and unauthorized access.
Dynamic data is information that updates in real-time. Unlike static data, it reflects the most current state of information automatically.
Learn about business development representative, including skills and qualifications for BDRs, & roles and responsibilities of a BDR.
Docker is a tool that packages applications and their dependencies into isolated environments called containers for easy deployment and scaling.
Ransomware is a type of malicious software that encrypts a victim's files, holding them hostage until a ransom is paid for the decryption key.
Revenue Operations (RevOps) is a business function that aligns a company's sales, marketing, and customer service teams to drive predictable revenue.
Text message marketing is a strategy where businesses send promotional messages, offers, and updates to customers via SMS or MMS.
Inside sales metrics are quantifiable measures used to track the performance, activities, and effectiveness of an internal sales team.
Outbound sales is when reps proactively contact potential customers through cold calls or emails to generate leads and build a sales pipeline.
Demographic segmentation divides a market into groups based on traits like age, gender, and income, allowing for more targeted marketing efforts.
Supply Chain Management oversees the entire production flow of a good or service, from raw materials to final delivery to the consumer.
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.
A Sales Manager leads a sales team, setting goals, analyzing performance, and developing strategies to drive revenue and meet targets.
Direct-to-consumer (D2C) is a sales strategy where a brand sells its products directly to end customers, bypassing any third-party retailers.
Consumer buying behavior is the study of how individuals select, buy, and use products and services to satisfy their needs and desires.
Sales pipeline management is the process of organizing, tracking, and managing potential deals through every stage of your sales funnel.
AI in sales uses smart technology to automate repetitive tasks, analyze customer data, and help sales reps close deals more efficiently.
Call disposition is the process of labeling the outcome of a call. It helps sales teams track interactions and plan their next steps effectively.
Customer Lifetime Value (CLV) is the total revenue a business expects from a customer throughout their entire relationship with the company.
An AI sales script generator is a tool that uses artificial intelligence to create personalized sales scripts for any outreach scenario.
Quality Assurance (QA) is the systematic process of ensuring a product or service meets specified quality standards from development to delivery.
The open rate is the percentage of recipients who opened an email. It's a primary indicator of a subject line's effectiveness.
Learn about bottom of the funnel, including maximizing conversions at the funnel's end, & strategies for nurturing bottom-funnel leads.
Lightning Components is a UI framework for building dynamic web apps for mobile and desktop devices on the Salesforce Lightning Platform.
Latency is the delay between a user's action and a system's response. It's the time it takes for a data packet to travel to its destination.
Total Addressable Market (TAM) represents the maximum revenue a company can earn by selling its product or service in a specific market.
Solution selling is a sales approach focused on understanding a customer's pain points to offer a comprehensive solution, not just a product.
CRM enrichment is the process of adding third-party data to your existing customer profiles to make them more complete and accurate.
Chatbots are AI-powered programs that simulate human conversation. They interact with users via text or voice, typically for customer support.
Real-time data is information processed and made available almost instantaneously, enabling immediate analysis and decision-making.
Agile methodology is an iterative approach to project management and software development, focusing on delivering value in small, incremental steps.
Upselling is a sales tactic encouraging customers to purchase a higher-end version of a product or related add-ons to boost revenue.
CRM data is the information businesses use to manage customer relationships. It covers contact details, purchase history, and communication logs.
Inbound leads are potential customers who proactively reach out after finding your business through content, social media, or search.
A touchpoint is any time a potential or existing customer comes in contact with your brand, from seeing an ad to receiving an email.
A Salesforce Administrator is a certified professional who manages and customizes the Salesforce platform to meet a company's specific business needs.
Freemium is a business model offering a product's basic features for free, while charging for advanced or supplemental features.
Sales prospecting techniques are methods used by sales teams to identify, contact, and qualify potential customers, also known as prospects.
The awareness stage is the first step in the buyer's journey, where a potential customer realizes they have a problem or an opportunity to explore.
GDPR compliance means following the EU's strict data protection laws to ensure the secure and lawful handling of personal data.
A cloud-based CRM is a customer relationship management tool hosted online, letting teams access and manage customer data from anywhere.
Demand is the economic principle describing a consumer's desire and willingness to purchase a specific good or service at a particular price.
A competitive advantage is a unique edge that allows a business to produce goods or services better or more cheaply than its rivals.
Net 30 is a common payment term where a client has 30 calendar days from the invoice date to pay for goods or services in full.
Return on Marketing Investment (ROMI) measures the revenue generated by a marketing campaign relative to the cost of that campaign.
Call analytics is the practice of analyzing phone call data to extract insights, track key metrics, and improve overall business performance.
Sales operations analytics is the practice of analyzing sales data to improve the efficiency and effectiveness of the entire sales process.
A Sales Director leads a sales team, develops strategies, and is responsible for meeting a company's revenue targets.
Content Rights Management involves controlling the use and distribution of copyrighted digital media to protect intellectual property.
Learn about browser compatibility, including understanding the importance, common challenges, best practices, & tools for testing.
Renewal rate is the percentage of customers who renew their subscriptions or contracts at the end of their service period.
Lead scoring models rank prospects by assigning points for their behaviors and demographics, helping sales teams prioritize their outreach.
A sales playbook is a guide that outlines your sales process, best practices, and tools to help reps sell more efficiently and consistently.
A stakeholder is any individual, group, or party that has an interest in an organization and the outcomes of its actions.
A digital strategy outlines how your business will use online channels, data, and technology to achieve its goals and connect with customers.
Video prospecting is the sales technique of sending personalized videos to potential customers to grab their attention and secure more meetings.
Amortization is the process of spreading out a loan or the cost of an intangible asset over a specific period for accounting and tax purposes.
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.
Guided selling simplifies complex sales by giving reps step-by-step instructions and data-driven recommendations to close deals faster.
A headless CMS is a back-end content repository that delivers content via API to any front-end, decoupling the content from its presentation layer.
Gamification applies game mechanics like points, badges, and leaderboards to non-game activities to boost engagement and motivate users.
Digital advertising is the practice of delivering promotional content to users through various online and digital channels like social media or search engines.
Overcoming objections is the process of addressing and resolving a prospect's concerns or hesitations to move a sale forward.
A pain point is a specific, recurring problem your target customers face, causing them frustration, inefficiency, or added costs.
White labeling is when a company puts its own branding on a product or service that was actually produced by a different company.
Sales prospecting is the process of identifying potential customers, or prospects, and initiating contact to convert them into paying customers.
Audience targeting is the process of segmenting consumers into specific groups to deliver more personalized and relevant marketing messages.
Learn about business process management, including benefits of implementing BPM, steps to effective BPM, common BPM mistakes to avoid, & BPM tools and software.
A hard sell is an aggressive sales technique that uses high-pressure tactics to push a customer into making an immediate purchase decision.