10 Common Buzzwords in B2B Sales: What They Mean and How To Use Them

10 Common Buzzwords in B2B Sales: What They Mean and How To Use Them

10 Common Buzzwords in B2B Sales: What They Mean and How To Use Them

Updated: December 20, 2021

Buzzwords make it easier to understand and talk about a certain topic. If you’ve worked in B2B sales, then you know that there are many different buzzwords that come up. Sometimes, they can be confusing to follow or understand.


That’s why we’ve compiled a guide on the most popular buzzwords in B2B sales. Here, you will learn what these terms mean and how they are used in the industry. It also includes tips on how to use these buzzwords correctly in your next sales pitch.


Introduction


Buzzwords are used to describe what’s happening in the industry. They are words that are frequently repeated, but they can be confusing to use correctly.


Buzzwords are trendy words that convey sentiments and describe current events or ideas. They can also be used to describe what’s happening in the industry..


Buzzwords are used to describe what’s happening in the industry. They are words that are frequently repeated, but they can be confusing to use correctly..


If you’re not sure what a buzzword means, don’t worry! We’ve included a glossary of the most common B2B sales buzzwords. It will help you understand what these terms mean and how they are used in the industry..


We hope this glossary will help you understand the most popular buzzwords in B2B sales..


A List of 10 Buzzwords in B2B Sales


1. Decision maker


A decision maker is the person who has the ability to approve a purchase of a product or service. It’s important to understand who your decision maker is and what they need from you.


2. Qualified lead


A qualified lead is a lead that is qualified to buy your product or service.


3. Tactic


A tactic is a method or plan for achieving a goal. In sales, there are many different tactics for achieving a goal: like cross-selling, upselling, and prospecting.


4. Lead


A lead in B2B sales is a contact in the sales cycle that is interested in your product or service. A lead can be qualified or unqualified depending on whether they are qualified to buy your product or not.


5. Lead score


Lead Score is a term used when you calculate how much of a lead’s information you have received and how they match up to the criteria you have set up in order to be considered a qualified lead.


6. Channel


A channel is a way to communicate with your audience: like through social media, email, and even phone calls.


7. Marketing automation


Marketing


Qualification


If you're not familiar with the term qualification, it refers to the process of finding out how much interest a lead has in your product or service. This is typically done by asking questions like "What are the biggest challenges your company is facing?" or "What are your goals for the next quarter?"


Qualification is important because you want to make sure you're talking to someone who will become a customer. It's important to ask these types of questions during sales interactions because it helps you understand what this particular lead needs.


It's always better to qualify a lead before they become a customer because it will save you time and resources. It also helps prevent potential problems that could arise, like sending marketing materials to someone who is not interested.


Qualifying is important because it helps your business avoid bad leads—and it provides more qualified leads for the rest of your business.


Demo


This word has different meanings depending on the context. It can refer to a demonstration of something or it can refer to an act of showing off.


When used in the context of B2B sales, demo refers to an act of showing off. Salespeople use demos to show off their products or services. The goal is to establish a service level agreement and a contract in a short amount of time.


The demo can be in person or online. In in-person demos, the salesperson will walk the potential buyer through the product or service to establish a relationship. In an online demo, the salesperson will show how to use the product or service in person via Skype, FaceTime, or other video calling software.


Tips for Using Buzzwords


If you find yourself in a meeting with a lot of buzzwords flying around, don’t be discouraged. It’s easier than you think to keep up with these terms when you know what they all mean.


Here are a few tips for using these buzzwords in your next meeting:


Use them when you’re speaking with your peers in the industry. Ask your manager if you have any questions about them before using them during a sales


Sales Quote


Sales Quote: A quote is the price that a supplier offers for a good, service, or product. It is typically offered with a discount associated with it. This price is often negotiable depending on the size of the purchase.


Quote


A quote is the price that a supplier offers for a good, service, or product. It is typically offered with a discount associated with it. This price is often negotiable depending on the size of the purchase.


Productivity


One common buzzword in B2B sales is productivity. This term is used to describe the efficiency and effectiveness of a company.


Unfortunately, there is no one definition of what productivity is for every company. But there are some ways to see if your company is productive:


If your company is working with a long-term strategy, then you are likely productive. If you have a good relationship with your employees, then you are likely productive. If your company has a long-term goal, then you are likely productive. If you have a good relationship with your suppliers, then you are likely productive. If you have a good relationship with your shareholders, then you are likely productive.


There are many different factors that make up productivity. However, these tips provide a good starting point for determining the productivity of your company.


Close the loop


Close the loop is a term used for taking an item from an open-loop process, like sourcing or manufacturing, and completing it to make it ready for delivery. This can be done by adding labels, packaging, or any other component needed to make the product complete.


Close the loop is important because it helps to ensure that all the necessary components are accounted for before the product is delivered. This way, there are no problems with mismanaged inventory or shortages.


If you are working in B2B sales, then you will want to incorporate this term into your vocabulary. When people are talking about closing the loop, they are referring to controlling inventory and making sure everything is accounted for before it’s time to deliver.


Cold call


The term cold call typically refers to the act of making a phone call to a lead you haven’t talked to before. It can also refer to making a contact with another company to get information.


Many people get cold calls from sales professionals, and it can be an annoyance. However, you can prepare for it and handle it well. If you get a cold call, it’s important to be polite and give them a chance. They might be the lead you’ve been waiting for!


If they’re not, tell them politely that you’ve got other things to do and hang up. You don’t want to waste their time or your time.


For more tips on how to make the best of cold calls, check out this article!


Pipeline


Pipeline is the series of steps that happen between the moment when a lead becomes a prospect and the moment they become a customer. This is what you would call the sales funnel.


If you’re not familiar with sales funnels, think of it like this: You have an endless number of prospects who are interested in your product.


These prospects will be in the top part of your sales funnel, which is called “cold prospects.” As you move down your sales funnel, your prospects will become more qualified and interested in your product.


Eventually, they’ll reach the bottom of your sales funnel, which is called “hot prospects.” These are qualified prospects who are ready to buy.


Pipeline is usually measured in units, like units per day or units per month.


This measurement will tell you how many customers you’re generating per day or month.


If you generate five units per day, then that tells you that you’re generating five customers per day.


Follow-up email


The follow-up email can be used to encourage your prospects to buy your product, or to answer any questions they may have. It’s important to remember that the follow-up email is not another sales pitch. It’s more of a customer service email.


If you’re promoting a product, the follow-up email is best sent one day after your initial email. This will give your prospect time to review their purchase and decide if they want to buy the product. If you’re answering questions, send the follow-up email a few days later—basically, whenever you feel like the prospect needs more information. Remember that a follow-up email should be a concise note that answers one question.


To make sure you’re using this word correctly, remember that it’s an email sent to a prospect who has already been in contact with you about their interest in your product or service. The follow-up email is meant to provide more information or encourage them to make a purchase.


Call to action and close of sale


The close of sale is when you’ve finished your pitch and are awaiting a response. You’ve convinced your potential customer of your product or service, so they are ready to buy.


At this point, you have two options.


One is to say, “Do you have any questions?” or “Do you have any other thoughts?” This is called the call to action. It means you want the customer to come back to you with questions about their purchase.


The other option is to say, “Would you like to buy this product today?” This is called the close of sale. It means you want the customer to make the purchase on the spot.


Choosing which one is best for your business depends on how much information the customer needs before making a decision. Remember, if you are in a hurry, then go with the close of sale. If you are more patient, then go with the call to action.


img

Personalize cold emails at scale without the hard work

Personalize at Scale with Lyne.ai

Lyne offers sales personalization and automation at scale

10 Common Buzzwords in B2B Sales: What They Mean and How To Use Them

An Overview of Marketing Operations: What Exactly Is It?

An Overview of Marketing Operations: What Exactly Is It?

Updated: December 20, 2021

Marketing Operations is the process of planning, implementing, and managing the distribution, promotion, pricing, and supply chain for a product or service. It often includes multiple stakeholders in the team including marketers, analysts, planners, controllers, data scientists, designers, operations managers.


Marketing Operations utilizes tools such as dashboards to monitor campaign performance to make real-time adjustments to their strategies. These tools are crucial in optimizing customer lifetime value. There are many facets that go into Marketing Operations. Here are some of them!


Marketing Operations as a whole


Marketing Operations is a broad process that involves many different departments, such as marketing and customer service. They all contribute in some way to the overall success of your product or service. It's important to have a cohesive marketing operations strategy so that the roles are clear and everyone is on board with the goal.


Here are some things you can do to make sure you're doing everything possible to reach your goals.


  • Ensure your marketing and sales teams are aligned on what success looks like for each other
  • Monitor campaign performance through tools such as dashboards
  • Have an understanding of your customers' lifetime value so that you can optimize every customer interaction
  • Understand the supply chain (what does it mean for your business)

  • What is Marketing Operations?


    From a high-level perspective, Marketing Operations is the process of planning, implementing, and managing the distribution, promotion, pricing, and supply chain for a product or service.


    In practice this means that marketing operations include multiple stakeholders in the team including marketers, analysts, planners, controllers, data scientists, designers, operations managers. They utilize tools such as dashboards to monitor campaign performance to make real-time adjustments to their strategies. These tools are crucial in optimizing customer lifetime value.


    There are many facets that go into Marketing Operations. Here are some of them!


    Why do you need Marketing Operations?


    At the end of the day, Marketing Operations is about working smarter to make better decisions and improve your business. For marketing professionals, Marketing Operations provides an opportunity to be more efficient with their time. It's easy to fall into a routine where you're doing the same thing month after month, year after year.


    Just like any other department in your company, Marketing Operations benefits from being streamlined and organized. With a well-run operations team in place, you'll have more time to focus on what matters most: growing your business.


    In this piece, we'll cover six reasons why it's important for marketing departments to implement a marketing operations team. Keep reading to learn more about how you can increase the efficiency of your marketing department!


    How can Marketing Operations help your business?


    The most important part of marketing is the customer. For any business, it's crucial to understand customer behaviors in order to improve and grow. But, with so many marketing tools available, it's hard for companies to know where to start.


    Marketing Operations can help a company by targeting specific customers with the tools they need to succeed. With Marketing Operations, you can create personalized strategies that are tailored to your audience. This helps you achieve your marketing goals and grow your business.


    Additionally, Marketing Operations help manage customer data and provide insights on how customers are using your products or services which can be utilized for future initiatives.


    How to optimize customer lifetime value with Marketing Operations.


    Customer lifetime value is the total value of a customer over the entirety of their relationship with a company. It's calculated by adding up all the revenue that a customer purchases from a company divided by the number of years they've been in business.


    There are multiple tangible ways a company can optimize their customer lifetime value, such as increasing sales and marketing efficiency. This post will outline six steps for optimizing customer lifetime value.


    The first step for optimizing customer lifetime value is to identify the component parts that make up the value of an individual customer interaction.


    The second step for optimizing customer lifetime value is to understand what drives those component parts.


    The third step for optimizing customer lifetime value is to determine how you want to impact these component parts and what your objective is.


    The fourth step for optimizing customer lifetime value is to determine which component parts you need to improve upon or create new ones.


    The fifth step for optimizing customer lifetime value is to use data analytics tools like dashboards to monitor activity towards each component part.


    The sixth and final step for optimizing customer lifetime value is communicating your changes with stakeholders throughout the process, including customers, suppliers, employees, and board members


    Conclusion


    Marketing Operations is a complex process that encompasses many different aspects of the marketing function. It is important to consider the role of Marketing Operations in your business, as it can help maximize customer lifetime value and help maximize revenue.


    img

    Personalize cold emails at scale without the hard work

    Personalize at Scale with Lyne.ai

    Lyne offers sales personalization and automation at scale

    10 Common Buzzwords in B2B Sales: What They Mean and How To Use Them

    What is a Buyer Persona?

    What is a Buyer Persona?

    Updated: December 20, 2021

    You may have heard this term bandied about, or the synonym sales persona, and wondered what it denotes. In fact, it’s pretty straightforward – but also rather important.


    A buyer persona is a set of demographics, behavioural, physical, and psychological traits associated with your typical or ideal customer. It’s a way of getting to know exactly who you are selling to, what they like, what their values, problems and fears are.


    By looking closely at your potential customers, you’ll be able to shape strategies that capture their attention, win their trust and loyalty, and increase revenue.


    Why Develop a Buyer Persona?


    You might feel you have an intuitive understanding of who your customer base is, or perhaps you’re a start-up with a very clear notion of who you’re trying to attract. Nevertheless, putting this down in writing is important for a host of reasons:


  • It helps inform potential marketing strategies.
  • It can help you estimate the potential size of your market.
  • You’ll be able to communicate corporate strategy more effectively across departments.
  • It will inform sales methodology and make your support staff more empathic.
  • It forms a benchmark for assessing how well you’re targeting your customers.
  • It can reveal new product and service opportunities.
  • It forms a basis for market research, helping narrow your focus.


    Getting to know your target market is vital. But at what point in your corporate journey should you do this? If you’re already up and running, is it too late to start?



    When to Employ a Buyer Persona


    The simple answer: whenever you can. If you’re a new business, you should start by defining who your customers are; indeed, you may have to do this to raise seed capital – it’s one of the likeliest questions an angel investor or VC executive might ask.


    But if you’re an existing business, even a very successful one, it’s wise to revisit or redefine your target market, for several reasons:


  • You may be mistaken about who is buying your product. Netflix were recently surprised by the large anglophone fanbase for its show “Squid Game”, thought to be a niche Korean thriller series, but which has taken popular culture by storm with its dark, ironic tone and dog-eat-dog plotline. By surveying your loyal customers, you may discover opportunities you’d otherwise have missed.
  • By finding out what the “pain points” are in your customers’ lives, you can design products and services better tailored to address them, increasing satisfaction and revenue.
  • You can determine whether you need to expand your offering to pull in other demographics or customer groups – this is called market segregation. Large companies often have a range of brands, each designed to appeal to a subtly different sector of their market.
  • When you get to know your customer base better, it increases empathic understanding, which helps everyone from marketing to sales to customer support.

  • Buyer personas aren’t static across time. As loyal customers age, they may stick with your brand or move on. New generations may view legacy brands as “uncool” unless brands move with the times to capture a similar demographic. Keeping on top of your buyer persona helps you to stay relevant.


    How do you Build a Buyer Persona?


    Regardless of whether you’re creating a new brand or surveying your existing customers to find out who they are, the questions are the same, and fall into a range of categories. If you’re designing a buyer persona for a new business, you can get as granular as you like.


    When you are surveying existing customers, any information you can’t extract from your CRM database will have to be solicited with a customer survey, focus group, or other market research method and you’ll have to be a little careful when asking searching personal questions.


    Here are the basic categories of information you might employ:


  • Demographics – gender, age, education, employment, socioeconomic class, children.
  • Employment – sector, seniority, time with company, ambitions, income, job role.
  • Values – politics, beliefs, personal aspirations, life priorities, concerns, fears.
  • Pain Points – what’s missing, what problems are you addressing, what attracts them?
  • Objectives – life goals, next steps, medium- and long-term ambitions, role models.
  • Media Consumption – social media, news, books, music, cultural experiences.

  • The latter point may seem frivolous but when you identify what media your ideal customers consume, you’re halfway towards knowing how best to reach them, which will inform your marketing and advertising strategies.


    Employment is a huge factor for B2B companies, but also informs pricing and branding – are your customers buying bargain, mid-range, or aspirational lifestyle products?


    It can also help to get a graphic artist to sketch out a range of physical depictions of your target customers, or you might even employ a photographer and casting agency to help show your team what your buyers look like. They say, after all, that a picture is worth 1000 words.


    Two notes of caution, however. Firstly, don’t get so specific or rigid about your ideal customers that you rule out expanding your marketplace. Remember that buyer personas are typical customers, and that outliers will always exist.


    Secondly, your advertising should show a diverse group of consumers, even if this level of diversity is somewhat aspirational – you want to welcome customers in, not exclude them (think of Dove’s ‘real beauty’ campaign and the famous United Colors of Benetton brand).


    Conclusion


    In conclusion, a buyer persona is a powerful tool for getting to know your customers and informing business strategy, but it should not be a straitjacket, and needs regular reassessment.


    img

    Personalize cold emails at scale without the hard work

    Personalize at Scale with Lyne.ai

    Lyne offers sales personalization and automation at scale

    10 Common Buzzwords in B2B Sales: What They Mean and How To Use Them

    Examples of Probing Questions in Sales: How to Ask the Right Questions

    Examples of Probing Questions in Sales: How to Ask the Right Questions

    Updated: December 20, 2021

    Asking the right questions is important for sales. The right questions can find out buyer needs so you can tailor your approach and subsequent pitch. The wrong questions can turn off customers who are ready to buy, or worse, turn them into competitors. Here are some tips for asking the right questions in sales.


    The Importance of Asking Questions


    Asking questions in sales is a great way to find out what your customers want. The right questions can help you find out their needs so you can tailor your approach in the subsequent pitch. The wrong questions can turn off customers who are ready to buy, or worse, turn them into competitors.


    The importance of asking questions in sales can’t be overstated. If you have a sense of what your customer needs are, then you’ll have the opportunity to provide them with exactly what they need.


    If you’ve ever walked into a store without knowing what you want, then you know how frustrating it is. The reason why customers walk out of stores empty-handed is because they didn’t know what they wanted in the first place. You can avoid this frustration by asking the right questions.


    Here are some tips for asking the right questions in sales:


  • Ask open-ended questions
  • Slow down your sales pitch
  • Make sure to ask follow-up questions

  • What Kind of Questions to Ask


    The best questions to ask in sales vary depending on the type of sale. For example, you should use probing questions for a negotiation sale and qualifying questions for a retail sale.


    Good probing questions for a negotiation sale:


  • What is the problem you’re currently experiencing?
  • What do you like about our product or service?
  • What don’t you like about our product or service?
  • What is your pain point?
  • What is your company size and what other products do you offer?
  • Good qualifying questions for a retail sale:
  • How do you know about our product or service?
  • How long have you been looking for it?
  • What is your budget range?
  • What influenced you to come to us today?
  • Are there any other products you're interested in?



    How to Ask the Right Question


    Asking the right questions is an important part of sales. It's critical to know your buyers and understand their needs to give them the best solution. The wrong questions can turn off customers who are ready to buy or worse, turn them into competitors.


    There are a few ways to ask the right questions:


    Ask open-ended questions to get the most information possible Ask the most important question first Ask questions about how they would like to purchase your product or service Ask qualification questions to determine if the lead is a good fit Ask for referrals.


    If you want to be successful and close more deals, it's important to ask the right questions.


    What Not to Ask


    Asking the wrong question can derail a sale and leave customers feeling unimportant or unvalued. There are a few questions that should never be asked.


    "What is your budget?"


    This question is too personal and makes customers feel devalued. If they were interested in your product they would have been asking more about it.


    "What's your favorite color?"


    This is a tricky question because it can be interpreted in different ways. In general, this question is too personal and should be avoided in sales.


    "When are you going to buy?"


    This question is a bad idea because it puts pressure on the customer to buy immediately, and if they're not ready, will make them want to shop elsewhere.


    The Resulting Benefits of Asking the Right Questions


    Asking the right questions in sales can help you sell more. The right questions will help you find out what a customer needs and what you can offer. This will help you tailor your pitch.


    You want to ask questions that are going to help you understand the needs of your customers. That way, you can present a solution to them.


    Questions also build trust. The buyer will know that you’re sincerely trying to help. When you ask probing questions, it signals that you’re not just trying to sell to them.


    Probing questions also show the buyer you’re willing to listen and understand their needs. Questions also show that you care about your customer’s needs and that you’re not just in it for the quick sale.


    Asking the right questions can result in many benefits for your sales process.


    Conclusion


    It’s important to think about the questions you are asking your customer. The wrong question can have the opposite effect, turning off customers who are ready to buy, or worse, turning them into competitors.


    By following these four simple guidelines, you can make sure you ask the right questions in your sales call.


    Do your research. Make sure you have an idea of what your customer needs before you begin. Keep it relevant. Bring up items that are relevant to your customer, or ask open-ended questions that will get them talking about their needs.


    Ask for feedback to find out what they think of your product or service. Leave them wanting more. Ask follow-up questions to find out what they are interested in and would like to inquire about.


  • img

    Personalize cold emails at scale without the hard work

    Personalize at Scale with Lyne.ai

    Lyne offers sales personalization and automation at scale

    10 Common Buzzwords in B2B Sales: What They Mean and How To Use Them

    How to Identify and Approach the Decision-Makers at a Company

    How to Identify and Approach the Decision-Makers at a Company

    Updated: December 20, 2021

    Identifying decision-makers at a company is an important skill for business professionals. Decision-makers are individuals who have the power to make or break your pitch, put you on the shortlist, or give you an interview.


    They are the gatekeepers who can help you realize your career goals. However, not all decision-makers are created equal. There are different types of decision-makers that require different approaches.


    The following list will show you how to identify and approach these different types of decision makers, depending on the situation.



    Identifying the decision-makers


    Identifying the decision-makers at a company is a first step to understanding how to approach them. There are two different types of decision-makers: those who make final decisions and those who make recommendations.


    In order to identify decision-makers, ask yourself these questions:

    -Who is the person with the power to make a final decision?

    -Who can make a recommendation?

    -Who is authorized to make a decision?

    -Who makes a final decision at their desk?

    -Who has the authority to approve an expenditure?

    -Who has the authority to sign off on a project?


    If you can’t identify a decision-maker, then it’s time to get out of your comfort zone and find someone who can. If you have questions, there’s nothing wrong with contacting the HR department and asking for assistance.


    Approaching the decision-makers


    The decision-maker is the CEO


    If you are trying to pitch the CEO, it’s important to have a solid understanding of their background. It’s crucial to know what they like and don’t like in order to make your pitch more effective.


    When you are in front of the CEO, make sure that you are confident in your pitch. Make sure that you’re not using fancy words or phrases that they don’t understand. Try to keep your pitch short and to the point, and be prepared to answer any questions they might have.


    The decision-maker is the president


    When you are approaching the president, it is also important to be confident in your pitch. You want them to feel like it is easy for them to say yes.


    Try to show them how your product or service will help them meet their goals. Again, they will most likely have questions for you, so be prepared to answer them.


    The decision-maker is the vice president


    Pitch the vice president just like you would the president, but with one tweak: try to incorporate their goals with your product or service. This will show them how your product or service will help them reach their goals.


    The gatekeepers


    The gatekeepers are the people who control access to the decision maker. For example, the gatekeeper of a company may be the receptionist or administrative assistant.


    The gatekeeper will usually have a lot of information about the company and the decision maker, and they may even have a relationship with the decision maker themselves.


    If you want to get in touch with the decision maker, you need to go through the gatekeeper. If you can gain access to them by using a little charm or a well-timed compliment, you may be able to get through to the decision maker without having to go through a screening process.


    If you find yourself trying to go around the gatekeeper, it’s likely that you’ll need to work your way up from someone else in the company, or call them multiple times before they will let you speak with their boss.


    The gatekeepers are also great sources of information about the company and decision maker. If you can get on their good side, they may be willing to share a few secrets with you, too!


    Decision-maker in a large company


    If the decision-maker you’re looking to win over works in a large company, you’ll need to take a different approach than if they work in a small company.


    In the case of large companies, you should identify the person who has the power to make the decision, and then contact that person’s assistant. This is the person who will be able to route your request to the decision-maker.


    So how do you find this person?


    The single best way is to call the company and ask for their HR department. Or, you can visit the company’s website and look for an email address belonging to HR.


    Send your email to this person and ask for their assistance in reaching the decision-maker. Remember to be polite and be patient, because this may take some time.


    No time to wait around for a response? Dig around on the company’s LinkedIn page or use a contact database like Apollo.io

    Decision-maker in a small company


    If you are trying to identify the decision-maker in a small company, it can be easy to do. Simply visit the company’s website and look for the person in charge of marketing, public relations, or sales. You can also call the company and speak with someone directly.


    If you are lucky enough to speak with the decision-maker, make sure to mention why your company is a perfect fit for their needs. You should also mention what you will offer as a result of the partnership.


    For example, if you are talking with a decision-maker at a small company that produces organic products, you could tell them about your organic farming experience and how it would help their business meet its goals.


    img

    Personalize cold emails at scale without the hard work

    Personalize at Scale with Lyne.ai

    Lyne offers sales personalization and automation at scale

    lyne-img
    -->