Today’s sales environment has changed dramatically. With the new environment, comes new sales lingo. From email testing to business descriptions, sale acronyms are all over the sales industry. Whether you’re working at a B2B or B2C company that sells SaaS with MAP systems, sales jargon is everywhere. We’ve compiled a list of 20 of the most common abbreviations and given you a brief description so you can stay up-to-date and in the know during your sales position interviews.
A/B Test – Split Testing
A/B testing refers to when you send two versions of an email to a subset of recipients to see which version gets the most clicks before sending out in mass.
ABC – Always Be Closing
Words to live by as a sales person.
ARR – Annual Recurring Revenue
How much revenue an annual contract brings in to a company.
B2B – Business to Business
Companies that sell goods and services to other companies.
B2C – Business to Consumer
Companies that sell goods and services straight to consumers.
CAC – Customer Acquisition Cost
The total amount a company spends to acquire a customer.
CCR – Customer Churn Rate
A metric used to measure customer retention, and in turn value.
CRM – Customer Relationship Management System
Software, such as Salesforce, designed to help companies manage client relationships and customer interaction.
CTA – Call To Action
The sentence or phrase that advocates for customers to make an action in an email or campaign.
KPI – Key Performance Indicator
Pre-determined signs that indicate whether or not your sales team is hitting quota.
MAP – Marketing Automation Platform
Systems to replace repetitive manual processes with automated solutions to reach more customers.
MMR – Monthly Recurring Revenue
How much revenue an monthly contract brings in to a company.
MQL – Marketing Qualified Lead
Leads that have demonstrated interest in your product or service that are a potential customer determined by the marketing team.
NPS – Net Promoter Score
A customer satisfaction metric. Read more about your NPS from our previous post!
OEM – Original Equipment Manufacturer
Companies that makes a part or subsystem that is used in another company’s end product.
P&L – Profit & Loss
Used to access a company’s performance and financial position.
RFP – Request For Proposal
An invitation used by companies to solicit bids for solutions, products, and services.
ROI – Return On Investment
What a company gets back from a financial, time, or talent investment.
SaaS – Software As A Service
Businesses that over a service via a software available online.
SQL – Sales Qualified Lead
Leads that have demonstrated interest in your product or service that are a potential customer determined by the sales team.