CRM for sales Definitions

  • A

    age of the customer

    Age of the customer is the concept that consumers are more empowered than ever because they can access information about products and services over the Internet in real time. 

  • Apex Connector Framework

    The Apex Connector Framework is a set of classes and methods in the DataSource namespace for creating a custom adapter for Salesforce Connect.

  • average order value

    Average order value is a metric used to track the health of a business.

  • B

    BANT

    BANT is an acronym that stands for “Budget, Authority, Need, Timing.”

  • C

    consumer packaged goods (CPG)

    Consumer packaged goods (CPG) is an industry term for merchandise that customers use up and replace on a frequent basis.

  • conversational user interface

    A conversational user interface is the ability of artificial intelligence-supported chatbots to have verbal and written interactions with human users.

  • CPQ software (configure price quote software)

    Configure, price, quote (CPQ) is software that helps companies accurately define the price of goods by accounting for a variety of variables.

  • CRM (customer relationship management)

    Customer relationship management (CRM) is the combination of practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving customer service relationships and assisting in customer retention and driving sales growth.

  • cross-sell

    Cross-sell is a marketing term for the practice of suggesting related products or services to a customer who is considering buying something.

  • E

    Einstein Language

    Einstein Language is a natural language processing (NLP) feature that analyzes and translates consumer's unstructured text into actionable information. Companies with a large influx of customer support emails, social media comments or chat messages can use Einstein Language to filter through the text to flag important messages or forward to the right department.

  • K

    knowledge worker

    A knowledge worker is anyone who works for a living at the tasks of developing or using knowledge.

  • L

    lead scoring

    In the B2B industry, lead scoring is a methodology used by sales and marketing departments to determine the worthiness of leads, or potential customers, by attaching values to them based on their behavior relating to their interest in products or services.

  • lead-to-revenue management (L2RM)

    Lead-to-revenue management (L2RM) is a collection of sales and marketing processes that aims to maximize the income gained from each stage of the customer journey.

  • M

    market leadership

    Market leadership is when an individual or company owns the largest market share or highest profitability margin in a given market for goods and services. Market share may be measured either the volume of goods sold or the value of those goods. (Continued...)

  • marketing encyclopedia

    A marketing encyclopedia is an application with an online interface to a database of information that a sales person might want to help a customer make a purchase decision.

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