Sales refers to activities designed to generate revenue by bringing potential buyers and sellers together.
It may involve such activities as assessing customer needs, promoting new products and services, creating promotional campaigns, monitoring customer feedback, and developing relationships with customers. Sales personnel often use different methods and tactics to increase sales, such as special offers, discounts, or incentives.
Sales teams usually analyse and use customer data to develop strategies and create better sales and marketing campaigns.
In short, sales is an essential part of any marketing strategy, whether you're operating a small one-man-business or a multinational company.
Closing is the final part of the sales process, and involves summary, discussion and agreement of the outcomes of the sale. It’s arguably the most important step in the overall sales process, as it makes it clear to the customer that their requirements have been understood, and outlines how their desired outcomes will be achieved.
Closing ratio is a term used in marketing to describe the ratio of sales opportunities that you have closed to the total number of sales opportunities that have been presented. It is a useful measure of the effectiveness of your sales process and should be closely monitored to ensure you are consistently closing deals and improving your performance.
Sales Commissions are commissions paid to salespeople for successfully selling items, services, or agreements. They are generally a percentage of the value of goods and services sold, and are one of the most common methods of incentivizing salespeople to work hard, successfully close deals, and increase sales.
Hard sell is a term that is commonly used in marketing and often used to describe aggressive forms of sales tactics. It is a form of persuasion designed to influence a person to make an immediate buying decision by using various techniques such as pushing a particular product, discounting a product or service, pushing the customer to purchase the product or services or making exaggerated claims or statements.
Weighted pipeline in marketing is a technique used to measure a team’s performance in terms of activity and sales. This technique combines the overall performance of a sales team and its individual members with an understanding of the number of sales opportunities — also known as the 'pipeline' — by weighing them according to their value, likely success, and probability of closing.