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 Service Examples: Salesforce, Moz, Shopify B2B - Business to Business Businesses that sell products and offerings to other businesses. Examples: Slack, Salesforce, SalesIntel, Outreach, Vidyard, LeadIQ B2C - Business to Consumer Businesses that sells products and offerings directly to consumers. Examples: Amazon, Netflix, Walmart KPI - Key Performance Indicator A 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 Management Used 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 Maker The person with authority to purchase your product/service. Examples: CEO, VP of Sales, VP of Marketing, CTO Qualified Lead A lead that has been identified more likely to become a customer based on certain criteria. Sales Cycle Term 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 Quota A predetermined amount of sales that a sales rep is expected to meet over a specified time frame. ICP - Ideal Customer Profile This 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 gatekeeper@alwayshired.com.
