- "Sales are activities related to selling or the number of goods sold in a given targeted time period."
The quantitative measures used to track and analyze the success of sales efforts, including conversion rate, pipeline value, and average order value.
Sales KPIs: Key Performance Indicators (KPIs) in sales are measurable values that help organizations to monitor their performance and progress towards achieving their sales goals. Some examples of sales KPIs include lead generation, win rate, average deal size, customer lifetime value, pipeline coverage, and more.
Sales Funnel: The sales funnel or pipeline is a visual representation of the sales process, which shows the different stages that a prospect goes through before becoming a customer. The stages typically include awareness, interest, consideration, intent, and purchase.
Sales Forecasting: Sales forecasting is the process of predicting future sales based on historical data and trends. This is an important activity for businesses to plan their resources, budget, and set achievable revenue targets.
Customer Acquisition: Customer acquisition refers to the process of acquiring new customers through various marketing and sales activities. It involves identifying potential customers, qualifying leads, and converting them into paying customers.
Lead Generation: Lead generation is the process of identifying potential customers or prospects who are interested in your products or services. This can be done through various marketing channels like email, social media, events, and content marketing.
Customer Retention: Customer retention is the ability of a business to keep its existing customers loyal over a long period of time. This is achieved by providing excellent customer service, offering personalized experiences, and ensuring customer satisfaction.
Sales Performance Analysis: Sales performance analysis involves analyzing sales data to identify trends, patterns, and areas for improvement. This can help businesses to optimize their sales processes and increase revenue.
Sales Enablement: Sales enablement refers to the process of equipping sales teams with the tools, resources, and information they need to sell effectively. This can include training, coaching, marketing collateral, data analysis, and technology.
Sales Territory Management: Sales territory management is the process of dividing sales territories to ensure maximum coverage and efficiency. This involves analyzing market data, setting sales targets, assigning sales reps, and tracking performance.
Sales Compensation: Sales compensation refers to the rewards and incentives offered to salespeople for achieving their sales targets. This can include base pay, bonuses, commissions, and other benefits. Effective sales compensation plans motivate sales reps, drive performance, and align with organizational goals.
Revenue: The total amount of income generated through sales.
Gross margin: The difference between revenue and the cost of goods sold, expressed as a percentage.
Conversion rate: The percentage of leads that turn into customers.
Average deal size: The average amount of each individual sale.
Sales growth rate: The rate at which sales are increasing or decreasing over time.
Close rate: The percentage of deals closed out of all opportunities.
Time to close: The length of time from initial contact to closing a deal.
Sales velocity: The speed at which deals are closed and revenue is generated.
Customer acquisition cost (CAC): The cost of acquiring a new customer.
Customer lifetime value (CLTV): The total amount of revenue a customer is expected to generate throughout their lifetime.
Churn rate: The percentage of customers who cancel their subscriptions or stop doing business with a company over a certain period.
Pipeline value: The total value of all deals in the sales pipeline.
Sales cycle length: The length of time it takes to close a deal from initial contact to signature.
Time spent selling: The amount of time sales reps spend on selling activities, such as prospecting, following up, and meetings.
Quota attainment: The percentage of sales reps who meet or exceed their sales quotas.
- "The delivery of a service for a cost is also considered a sale."
- "A period during which goods are sold for a reduced price may also be referred to as a "sale"."
- "The seller, or the provider of the goods or services, completes a sale..."
- "...in an interaction with a buyer, which may occur at the point of sale or in response to a purchase order from a customer."
- "There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur."
- "The seller, not the purchaser, typically executes the sale..."
- "A person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson..."
- "In common law countries, sales are governed generally by the common law and commercial codes."
- "...most jurisdictions have adopted Article 2 of the Uniform Commercial Code..."
- "...albeit with some non-uniform variations."
- "The delivery of a service for a cost is also considered a sale."
- "...in an interaction with a buyer, which may occur at the point of sale or in response to a purchase order from a customer."
- "...in which agreement is reached on a price for which transfer of ownership of the item will occur."
- "...a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop."
- "...other terms are also common, including salesclerk, shop assistant, and retail clerk."
- "...the laws governing sales of goods are mostly uniform to the extent that most jurisdictions have adopted Article 2 of the Uniform Commercial Code..."
- "The seller, not the purchaser, typically executes the sale and it may be completed prior to the obligation of payment."
- "In common law countries, sales are governed generally by the common law and commercial codes."
- "...the laws governing sales of goods are mostly uniform to the extent that most jurisdictions have adopted Article 2 of the Uniform Commercial Code..."