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70 key sales terms explained Sales terms reps should avoid Quick guidelines for clearer communication What are sales terms? This metric reflects how well you retain customers: Churn rate formula = (Total customers/Number of customers lost) 100 Closed-won Indicates that a deal has been finalized, resulting in a new customer acquisition.
A bonus, or performance bonus, is a form of additional compensation given to employees beyond their base salary to recognize and reward their hard work, contributions, and the achievement of specific company goals or objectives. On the surface, a bonus payment is an employers way of saying Thank you! and Keep up the good work!
Your sales team is close to meeting their quota. For example, you might tell your sales team they can earn a bonus on top of their salary and commission, for selling [X] products above quota by the end of the month or for booking [X] demos in a quarter that lead to a sale. Most sales professionals do not expect to hit their quotas.
With 64% of sales reps expected to miss quota this year and 85% having fallen short last year, businesses can no longer rely on traditional sales tactics alone. Make these goals actionable with a balance of activity key performance indicators (KPIs) and outcome metrics. The key is aligning the reward with what motivates your audience.
If you enjoy leading teams, have a proven track record of closing deals, and excel at problem-solving and building relationships, you may have what it takes to succeed in this key sales role. Key job responsibilities include: Developing sales strategies: Analyzing market trends, reviewing data, and setting sales goals for their teams.
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