Common terms include:
Close/closing
It is the second to last step in the sales process. In this step, the salesperson encourages the customer to sign the order. In the past, salespeople often became pushy at this stage, but customers are more sophisticated these days and they don’t respond well to aggressive attempts to close a deal.
Cold calling
The first phone call made to a prospective client.
Customer relationship management (CRM)
A system for managing the entire sales relationship with a client. Computerized CRM systems record all customer contacts, purchases, returns, etc.
Decision maker
The person in an organization who has the authority to agree to a sale.
Networking
An increasingly popular method of finding prospects based on referrals and introductions.
Prequalifying clients
The process of getting to know potential customers — who they are, what they do, what they need.
Sales funnel
A pattern that describes the conversion of prospects into sales. Many prospects enter the funnel at the top, but only a few are converted to sales. (This analogy is actually flawed because in a real funnel everything that goes in the top comes out the bottom.) The term “sales pipeline” has a similar meaning.
Warm calling
Calls made after the initial contact with a customer, often in response to a call from the customer.
