Alex Is there a sales glossary for new sales reps?
This practical sales glossary is meant for anyone in sales who needs to refresh their memory on the most commonly used sales terms – especially new reps who are still learning the playing field. We’d also recommend this guide for any sales managers or business development leaders who are on-boarding new reps.
How many deals can a sales rep close in a month?
For example, one sales rep may have closed 50 deals last month, but all deals were for a month-to-month plan. Meanwhile, another rep may have only closed 2 deals, but they were for the company’s annual package.
How to determine typical commission structures for sales reps?
Example: A sales rep earns 5% on all products sold up to $10,000 in total revenue generated. Under the tiered model, the same sales rep would now earn 8% on all revenue generated after surpassing the $10,000 mark. This sales commission structure significantly motivates and incentivizes the top performers to continue selling.
When do sales reps stop using sales jargon?
When a sales rep earns enough commission to make their draw balance equal to zero, they have zeroed out their account, and can start earning commissions again. Even though prospects or customers might seem to understand what you’re talking about, you should avoid using jargon during sales interactions.
When a sales rep earns enough commission to make their draw balance equal to zero, they have zeroed out their account, and can start earning commissions again. Even though prospects or customers might seem to understand what you’re talking about, you should avoid using jargon during sales interactions.
What makes a sales rep a good sales rep?
“Successful sales reps look for ways they can be useful to potential customers. By using empathy as their intuition and reaching out—via phone, email, and social media—in a meaningful way, they build trust. They know this truth: The best selling approach feels like helping (because it is).”.
What are some of the most common sales terms?
A question or concern a prospect raises about your product or service that could get in the way of closing the sale. Some of the most common sales objections include price (“I can get this cheaper somewhere else”), trust (“I’ve never heard of your company before”), and timing (“I’m just too busy to deal with this right now”).
What do sales reps do in their spare time?
Non-sales-related activities, meaning things that sales reps spend time on that don’t directly lead to sales. This can include administrative tasks and paperwork, or making personal calls and surfing the Internet. Whenever you aren’t prospecting, qualifying, setting up presentations and appointments, or closing, you’re probably engaged in an NSA.