Salespeople have their own set of terms and jargons that people from outside the industry may not easily get. If you are planning to be a salesperson and you don’t want to feel out of place, this guide is a good place to start educating yourself. Check out the following sales slang terms, phrases, and acronyms along with their meanings to get started.
ABC – An acronym for “always be closing,” ABC pertains to the sales strategy that basically says every step a sales rep takes in the sales process is focused on closing a deal. This means that if the sales rep does not close the deal, then all their efforts went down the drain.
BANT – BANT stands for “budget, authority, need, and timeline.” It is a methodology used to qualify leads wherein the rep that the prospective buyer has all those qualifications to make a purchase. If a factor is missing, then there is a possibility that the rep may not make a sale.
Closed question – Closed question is usually a yes-or-no question made to make a potential customer choose. For example: “Are you satisfied with your current brand?”
Discovery call – A discovery call is the first call a sales representative makes to a prospective customer. The goal of the call is to ask the prospect some questions to see whether or not they qualify for the next stage of the sales process.
Emotional sale – An emotional sale is a type of selling wherein the rep appeals to the emotion of the prospect. This can be done by generating positive motions towards the offer’s benefits or evoking negative emotions that can be alleviated by the offer.
Flywheel – The flywheel is a sales process concept where awareness, engagement, and delight can take place at any point in the customer journey. It is different from the traditional funnel concept where customers are seen as an output. Read more about the flywheel model to further understand this concept.
These are only a few of the many terms you need to know to get your way around the world of sales. They may not be all part of your sales skill assessment in HK, but knowing them will surely give you the advantage as you start a career as a sales professionals.
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