Terms

Net New Business

What is Net New Business?

Net new business refers to revenue generated from newly acquired customers or reactivated accounts, excluding revenue from upselling or cross-selling to existing active customers. It represents a primary source of revenue growth for businesses, playing a crucial role in expanding a company's financial base and ensuring long-term sustainability and success.

Strategies for Growing Net New Business

To grow net new business effectively, focus on several strategic areas:

  • Strategic Prospecting: Identify and engage potential new clients by understanding their business goals and challenges.
  • Digital Marketing: Leverage online platforms to reach and convert new customers.
  • Client Relationship Management: Conduct regular business reviews and maintain consistent communication with clients to foster trust and uncover new opportunities.

Key Metrics for Tracking Net New Business

  • Revenue Growth Rate: Calculate the percentage increase in revenue over a specific period to track the effectiveness of net new business acquisition strategies.
  • Customer Acquisition Cost (CAC): Measure the average cost of acquiring a new customer by dividing the total sales and marketing expenses by the number of new customers acquired.
  • Customer Lifetime Value (CLTV): Estimate the total revenue a business can generate from a single customer over the entire duration of their relationship.
  • Churn Rate: Determine the percentage of customers lost during a specific period, as a high churn rate may indicate issues with customer satisfaction or product quality.
  • Lead Conversion Rate: Assess the percentage of leads that convert into paying customers, providing insights into the effectiveness of sales and marketing efforts.
  • Market Share: Monitor the company's share of the total market, as increasing market share can indicate successful net new business acquisition.

Net New Business vs. Upselling and Cross-Selling

Net new business and upselling or cross-selling are distinct yet complementary strategies for driving revenue growth. While net new business focuses on acquiring new customers or reactivating dormant accounts, upselling and cross-selling involve selling additional products or services to existing clients.

Other terms

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Dark Social

Learn about dark social, including the challenges of tracking dark social, strategies for leveraging dark social, & dark social vs. public social channels.

Dark Social

C-Level or C-Suite

Learn about C-level or C-suite, including key responsibilities of C-suite executives, differentiating C-level positions, strategies for reaching C-level s.

C-Level or C-Suite

AI Data Enrichment

Learn about AI data enrichment, including understanding it, the key benefits of AI data enrichment, how it works, and its challenges.

AI Data Enrichment

Trademarks

Learn about trademarks, including how to secure a trademark, trademark examples and best practices, & trademarks vs. copyrights vs. patents.

Trademarks

Ad-hoc Reporting

Learn about ad-hoc reporting, including benefits of ad-hoc reporting, steps to create effective ad-hoc reports, & ad-hoc reporting vs. standardized reporting.

Ad-hoc Reporting

Decision Buying Stage

Learn about decision buying stage, including identifying the decision-making criteria, & key strategies for influencing the decision stage.

Decision Buying Stage

Hybrid Sales Model

Learn about hybrid sales model, including benefits of a hybrid sales model, implementing a hybrid sales approach, & hybrid vs. traditional sales models.

Hybrid Sales Model

Mid-Market

Learn about mid-market, including identifying mid-market opportunities, characteristics of mid-market companies, mid-market vs. enterprise: understanding the differences.

Mid-Market

Draw on Sales Commission

Learn about draw on sales commission, including types of commission draws, advantages and disadvantages, & implementing a draw agreement.

Draw on Sales Commission

Sales Velocity

Learn about sales velocity, including calculating sales velocity, key drivers of sales velocity, boosting your sales velocity, and sales velocity vs. sales v.

Sales Velocity

Progressive Web Apps

Learn about progressive web apps, including how to develop a PWA, benefits of progressive web apps, PWAs vs native apps, & essential PWA features.

Progressive Web Apps

Drip Campaign

Learn about drip campaign, including crafting an effective drip campaign, examples of successful drip campaigns, drip campaign vs. bulk emailing: understanding the differences.

Drip Campaign

Sales Intelligence

Learn about sales intelligence, including key benefits of sales intelligence, harnessing data for sales success, & sales intelligence tools comparison.

Sales Intelligence

Marketing Qualified Account

Learn about marketing qualified account, including identifying marketing qualified accounts, key criteria for MQL accounts, & nurturing strategies for MQLs.

Marketing Qualified Account

Economic Order Quantity

Learn about economic order quantity, including calculating economic order quantity, & benefits of optimizing order quantity.

Economic Order Quantity

Conversion Rate

Learn about conversion rate, including maximizing your conversion rate, key metrics for conversion success, & conversion rate vs. click-through rate.

Conversion Rate

Business Process Management

Learn about business process management, including benefits of implementing BPM, steps to effective BPM, common BPM mistakes to avoid, & BPM tools and software.

Business Process Management

Operational CRM

Learn about operational CRM, including key benefits of operational CRM, implementing operational CRM successfully, & operational CRM vs. analytical CRM.

Operational CRM

Customer Relationship Management Hygiene

Learn about CRM hygiene, its importance, the best practices for it, CRM hygiene vs. data management, and tools for maintaining it.

Customer Relationship Management Hygiene

Target Account List

Learn about target account list, including building your target account list, key benefits of a target account list, & strategies for prioritizing accounts.

Target Account List

Data Cleansing

Learn about data cleansing, including data cleansing benefits, steps for effective data cleansing, & data cleansing vs. data enrichment.

Data Cleansing

Contract Management

Learn about contract management, including key principles of effective contract management, & steps to streamline your contracting process.

Contract Management

Stress Testing

Learn about stress testing, including understanding stress testing methods, benefits of stress testing, & stress testing vs. load testing.

Stress Testing

Champion/Challenger Test

Learn about champion/challenger test, including benefits of champion/challenger tests, & implementing champion/challenger in sales strategy.

Champion/Challenger Test

Sales Operations Analytics

Learn about sales operations analytics, including key components of sales operations analytics, & implementing sales operations analytics effectively.

Sales Operations Analytics

Request for Proposal

Learn about request for proposal, including crafting a winning RFP, key elements of an effective RFP, & RFP vs. RFQ.

Request for Proposal

Account-Based Marketing Software

Learn about account-based marketing software, including key features of ABM software, & implementing ABM in your strategy.

Account-Based Marketing Software

Marketing Metrics

Learn about marketing metrics, including understanding marketing metrics, keys to effective marketing measurement, & marketing metrics vs. sales metrics.

Marketing Metrics

Rapport Building

Learn about rapport building, including the principles of effective rapport building, & techniques for establishing rapport.

Rapport Building

Payment Gateways

Learn about payment gateways, including how payment gateways work, benefits of payment gateways, & challenges of implementing payment gateways.

Payment Gateways

Inside Sales

Learn about inside sales, including benefits of inside sales, key strategies for success, comparing inside and outside sales, & the future of inside sales.

Inside Sales

Sales and Marketing Analytics

Learn about sales and marketing analytics, including key benefits of sales and marketing analytics, & implementing analytics successfully.

Sales and Marketing Analytics

CCPA Compliance

Learn about CCPA compliance, including how to ensure compliance, benefits of being CCPA compliant, challenges in achieving compliance, & CCPA vs. GDPR.

CCPA Compliance

Marketing Analytics

Learn about marketing analytics, including key benefits of marketing analytics, & strategies for effective marketing analytics.

Marketing Analytics

Customer Buying Signals

Learn about customer buying signals, including identifying common buying signals, interpreting non-verbal cues, & effective response strategies.

Customer Buying Signals

Freemium Models

Learn about freemium models, including understanding freemium benefits, steps to implementing freemium, & challenges of freemium models.

Freemium Models

Value Gap

Learn about value gap, including identifying the value gap, closing the value gap effectively, & value gap vs. price gap.

Value Gap

Email Engagement

Learn about email engagement, including maximizing email engagement rates, strategies for crafting compelling emails, analyzing email engagement: metrics.

Email Engagement

InMail Messages

Learn about InMail messages, including crafting effective InMail messages, benefits of utilizing InMail for outreach, InMail vs. traditional email: key differences.

InMail Messages

Content Management System

Learn about content management system, including importance of a content management system , choosing the right CMS , & top features to look for .

Content Management System

Demand Forecasting

Learn about demand forecasting, including benefits of demand forecasting, implementing effective forecasting strategies, & common pitfalls to avoid.

Demand Forecasting

Total Addressable Market (TAM)

Learn about total addressable market (TAM), including definition, calculation methods, key benefits, how it impacts business strategy, and practical examples.

Total Addressable Market (TAM)

Lead Enrichment

Learn about lead enrichment, including benefits of lead enrichment, strategies for effective lead enrichment, & lead enrichment vs. lead generation.

Lead Enrichment

B2B Sales Process

Learn about B2B sales process, including key components of B2B sales processes, & crafting an effective B2B sales strategy.

B2B Sales Process

Performance Plan

Learn about performance plan, including creating a successful performance plan, & essential elements of a performance plan.

Performance Plan

Sales Engineer

Learn about sales engineer, including roles and responsibilities of a sales engineer, & becoming a successful sales engineer.

Sales Engineer

User Testing

Learn about user testing, including how user testing works, benefits of user testing, common user testing methods, & user testing best practices.

User Testing

ETL

Learn about ETL, including understanding the ETL process, steps in the ETL workflow, benefits of ETL in outbound sales, & ETL tools to consider.

ETL

B2B Sales Channels

Learn about B2B sales channels, including types of B2B sales channels, strategies for effective channel selection, & integrating technology in B2B sales.

B2B Sales Channels

Enterprise

Learn about enterprise, including defining enterprise, key components of an enterprise, & enterprise vs. small business differences.

Enterprise

Buyer's Journey

Learn about buyer's journey, including stages of the buyer's journey, key elements of the buyer's journey, & enhancing the buyer's experience.

Buyer's Journey

Mobile Optimization

Learn about mobile optimization, including understanding its importance, best practices, common mistakes, & future trends.

Mobile Optimization

Email Deliverability

Learn about email deliverability, including improving email deliverability rates, & key factors affecting email deliverability.

Email Deliverability

Voice Broadcasting

Learn about voice broadcasting, including advantages of voice broadcasting, setting up voice broadcasting, & best practices for voice broadcasting.

Voice Broadcasting

Lead Qualification Process

Learn about lead qualification process, including identifying key lead qualification criteria, & steps in a successful qualification process.

Lead Qualification Process

Serviceable Obtainable Market

Learn about serviceable obtainable market, including calculating serviceable obtainable market, & key factors influencing serviceable obtainable market.

Serviceable Obtainable Market

Video Email

Learn about video email, including benefits of using video email, crafting an effective video email, & video email vs. traditional email.

Video Email

Dark Funnel

Learn about dark funnel, including unraveling the dark funnel mystery, strategies to illuminate the dark funnel, & dark funnel vs. traditional sales funnels.

Dark Funnel

BAB Formula

Learn about BAB formula, including implementing BAB in sales strategies, crafting an effective BAB pitch, & comparing BAB with other sales frameworks.

BAB Formula

B2B Marketing Analytics

Learn about B2B marketing analytics, including key components of B2B marketing analytics, & getting started with B2B marketing analytics.

B2B Marketing Analytics

Cold Emailing

Learn about cold emailing, including crafting effective cold emails, keys to high-opening cold emails, & cold emailing vs. warm emailing.

Cold Emailing

SEO

Learn about SEO, including how it works, benefits, strategies, measuring success, and tips to optimize your website for search engines.

SEO

Scalability

Learn about scalability, including understanding scalability in business, benefits of scalability, & key elements of scalability.

Scalability

B2B Data

Learn about B2B data, including sources and types of B2B data, leveraging B2B data for sales success, & ensuring the accuracy of B2B data.

B2B Data

Customer Data Platform (CDP)

Learn about CDP, including how it enhances outbound sales, its benefits, implementing CDP tools, and CDP vs. CRM.

Customer Data Platform (CDP)

Batch Processing

Learn about batch processing, including benefits of batch processing, best practices for implementation, & common use cases.

Batch Processing

Marketing Attribution

Learn about marketing attribution, including the importance of marketing attribution, & models of marketing attribution explained.

Marketing Attribution

Lead Scrape

Learn about lead scrape, including benefits of lead scraping, tools and techniques for effective lead scraping, navigating legal considerations in lead scraping.

Lead Scrape

Lookalike Audiences

Learn about lookalike audiences, including creating lookalike audiences: a step-by-step guide, & benefits of leveraging lookalike audiences.

Lookalike Audiences

Customer Journey Mapping

Learn about customer journey mapping, including steps to construct a customer journey map, & key components of an effective map.

Customer Journey Mapping

Complex Sale

Learn about complex sale, including navigating complex sale challenges, key strategies in complex sales, & complex sale vs. simple sale.

Complex Sale

Elevator Pitch

Learn about elevator pitch, including crafting an effective elevator pitch, key components of a strong elevator pitch, & elevator pitch dos and don'ts.

Elevator Pitch

Marketing Play

Learn about marketing play, including crafting effective marketing plays, examples of successful marketing plays, & marketing plays vs. sales strategies.

Marketing Play

Sales Territory Planning

Learn about sales territory planning, including strategies for successful territory planning, & key components of territory planning.

Sales Territory Planning

Call Analytics

Learn about call analytics, including how call analytics works, benefits of call analytics, & integrating call analytics.

Call Analytics

DMP

Learn about DMP, including understanding DMP functionality, benefits of using a DMP, choosing the right DMP, & key features of DMPs.

DMP

Low-Hanging Fruit

Learn about low-hanging fruit, including identifying low-hanging fruit, strategies for capturing easy wins, & comparing high and low effort opportunities.

Low-Hanging Fruit

Inside Sales Metrics

Learn about inside sales metrics, including key indicators in inside sales metrics, & measuring success: essential metrics.

Inside Sales Metrics

Zero-Based Budgeting (ZBB)

Learn about zero-based budgeting (ZBB), including its definition, key principles, implementation steps, benefits, challenges, and examples of ZBB in practice.

Zero-Based Budgeting (ZBB)

Affiliate Networks

Learn about affiliate networks, including introduction to affiliate networks, how affiliate networks work, & benefits of affiliate networks.

Affiliate Networks

Buyer’s Remorse

Learn about buyer’s remorse, including causes of buyer’s remorse, mitigating buyer’s remorse strategies, & the impact of buyer’s remorse on sales.

Buyer’s Remorse

B2B Intent Data Providers

Learn about B2B intent data providers, including evaluating intent data quality, leveraging intent data for growth, & B2B intent data: key providers comparison.

B2B Intent Data Providers

Sentiment Analysis

Learn about sentiment analysis, including how sentiment analysis works, benefits of sentiment analysis, common uses in sales, & implementing sentiment analysis.

Sentiment Analysis

Marketing Funnel

Learn about marketing funnel, including stages of the marketing funnel, building a successful marketing funnel, & marketing funnel vs. sales funnel.

Marketing Funnel

Trade Shows

Learn about trade shows, including maximizing your trade show impact, & trade show vs. virtual expos: understanding the difference.

Trade Shows

Salesforce Object Query Language

Learn about salesforce object query language (SOQL), including its definition, key features, syntax, best practices, and examples of querying data in salesforce.

Salesforce Object Query Language

Data Management Platform

Learn about data management platform, including key benefits of data management platforms, & essential features of data management platforms.

Data Management Platform

Cross-Site Scripting

Learn about cross-site scripting, including understanding how cross-site scripting occurs, identifying vulnerabilities, preventing attacks, & best practices.

Cross-Site Scripting

Business Continuity

Learn about business continuity, including understanding key components, steps to ensure continuity, common challenges, & best practices.

Business Continuity

Sales Workflows

Learn about sales workflows, including designing optimal sales workflows, & key components of effective sales workflows.

Sales Workflows

Average Revenue per Account

Learn about average revenue per account, including calculating average revenue per account, strategies to increase ARPA, & ARPA vs. customer lifetime value.

Average Revenue per Account

Customer Data Analysis

Learn about customer data analysis, including benefits of customer data analysis, & key techniques in analyzing customer data.

Customer Data Analysis

Data-Driven Lead Generation

Learn about data-driven lead generation, including benefits of data-driven lead generation, & key metrics for measuring success.

Data-Driven Lead Generation

Page Views

Learn about page views, including understanding page views/, measuring page views effectively/, & importance of tracking page views/.

Page Views

Serverless Computing

Learn about serverless computing, including benefits of serverless computing, challenges of serverless computing, serverless computing vs traditional inf.

Serverless Computing

Direct Sales

Learn about direct sales, including benefits of direct sales, strategies for successful direct sales, & direct sales vs. indirect sales.

Direct Sales

Personalization in Sales

Learn about personalization in sales, including strategies for effective personalization, & key benefits of sales personalization.

Personalization in Sales

Sales Lead

Learn about sales lead, including identifying your ideal sales lead, generating quality leads effectively, & comparing sales leads and prospects.

Sales Lead

Cybersecurity

Learn about cybersecurity, including how cybersecurity works, benefits of strong cybersecurity, & best practices in cybersecurity.

Cybersecurity

Always Be Closing

Learn about always be closing, including implementing ABC in your sales strategy, key strategies for effective closing, & ABC vs. other sales techniques.

Always Be Closing
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