Conversion
The stage when a potential customer purchases the product/service and becomes a paying customer.
Closing the Deal:
- This is the classic conversion scenario where a prospect transitions into a paying customer. They move from simply showing interest to actually purchasing your product or service.
- Progressing Through the Funnel: Conversion can also refer to any movement of a prospect down the sales funnel. This might involve smaller conversions like:
- A website visitor turning into a qualified lead by providing their contact information.
- A lead scheduling a demo or consultation with a salesperson.
- An existing customer renewing their subscription.
These smaller conversions indicate that the prospect is engaged and moving closer to becoming a customer.
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Complex Sale
A B2B purchasing process involving multiple people and a longer time to finish than a standard sale cycle. A complex sale, also referred to as enterprise sales,
Buying Criteria
Information about a product that satisfies customer questions before considering a purchase. Buying criteria, also referred to as key purchasing criteria, are t
Contact
The first time a sales rep and a potential customer communicate, with the goal of getting the prospect to listen to their pitch. 1. Information about a Person o
Collaborative CRM
A CRM program allowing different entities within and outside the company to collaborate for a streamlined customer experience. Collaborative CRM, also known as
Channel Sales
Grouping sales personnel tackling different distribution channels. Channel sales refers to a sales model where a company distributes and sells its products or s
Call for Proposal
When a business asks companies to sell them their product, leading to competition for their business. A Call for Proposal (RFP) , also sometimes referred to as