The tech industry is booming and it doesn’t look like it will slow down anytime soon. Even through COVID-19, there has been a rise in tech, and it's only the beginning. If you are looking to get into tech sales, then it’s important to start learning the language. If you get the basic lingo down, you will catch the attention of those in the industry. Here are 10 of the most common terms used in tech sales. Incorporating these into your conversations with employers and others in the industry will ensure that you will be ahead of the game during your interview process.
Basic Tech Sales Terms
SaaS - Software as a ServiceExamples: Salesforce, Moz, Shopify
B2B - Business to BusinessBusinesses that sell products and offerings to other businesses. Examples: Slack, Salesforce, SalesIntel, Outreach, Vidyard, LeadIQ
B2C - Business to ConsumerBusinesses that sells products and offerings directly to consumers. Examples: Amazon, Netflix, Walmart
KPI - Key Performance IndicatorA measurable value that indicates how effectively a company or individual is achieving key business objectives. Companies use KPIs to evaluate their success at reaching targets. Examples: Calls and emails
CRM - Customer Relationship ManagementUsed to describe the process of managing the entire selling process within a department. Computerized CRM systems enable management of prospect and customer details, contacts, sales history and account development. Examples of CRM companies: Salesforce, SugarCRM, Netsuite
DM - Decision MakerThe person with authority to purchase your product/service. Examples: CEO, VP of Sales, VP of Marketing, CTO
Qualified LeadA lead that has been identified more likely to become a customer based on certain criteria.
Sales CycleTerm that describes the time process between first contact with the customer through when the sales is made. Sales cycles vary depending on the company and product. Example: Yelp’s sale cycle is 1-5 days, while Oracle’s is 6-24 months
QuotaA predetermined amount of sales that a sales rep is expected to meet over a specified time frame.
ICP - Ideal Customer ProfileThis is a way to create a portrait of your customers to help you make decisions regarding who is the best fit for your service or product. Often customers are broken down into groups that share similar goals and characteristics. Examples: Geography, industry, and company size are all examples of data points used to determine ICP It is possible to break into the industry from the sales-side and build a lucrative and successful career in tech. At AlwaysHired, we help people achieve this dream. Since our first bootcamp in 2015, we have helped over 250 people get jobs at 200+ different tech companies. If you want to learn more apply today!
About AlwaysHired Sales Bootcamp AlwaysHired Sales Bootcamp is an intensive remote live instructor-led sales training program connecting hard-working and motivated job seekers with high growth technology companies across the country. Founded in 2015, it has 250+ alumni working at companies such as CallidusCloud, Google, Mulesoft, Okta, Yelp, Lever, Demandforce, and more. For more information please visit https://www.alwayshired.com/. For media inquiries, please contact firstname.lastname@example.org.