No matter how obvious it may sound, doing something without knowing the terms and basic concepts is a difficult and simply wrong thing. That is why we decided to help you! And make a small glossary of basic concepts that will help you.
Of course, this Glossary will not be complete, as it is too large to fit in one article. In this case, we will share with you one resource that will help you to get even more information and also suggest some services you might use. But more on that later. Enjoy reading!
A small list of basic concepts
There are many important and necessary concepts in the field of B2B. We cannot list everything, but we can give an approximate list of different terms most widely used:
- B2B – Business-to-Business sales. No, this is not the same as B2C or Business-to-Customer. B2B deals with the sale of services and goods to other businesses, while B2C sells its goods to the end customer, i.e. consumers. Now the vast majority of large companies are engaged in B2B and B2C at the same time. And this is absolutely normal.
- What is inbound sales? Inbound sales is one of the modern sales techniques. It aims to provide offers tailored to the needs of potential customers. The main goal in this case is to build trust with your potential or actual customers and provide more and more personalized experience to your customers.
- What is a sales pipeline? No, sales pipeline has nothing to do with an actual pipeline. In short, it is a visual presentation model. This model shows sales prospects and where they are currently in the buying process.It consists of a combination of many sales funnels, which is essentially the same but on a much smaller scale. All this is combined and allows you to predict sales prospects and how you need to change the strategy in order to achieve greater profits.
- What is VOIP? Maybe it’s a “Voice IP” or something? Yes, actually you’re right! B2B also uses this. VOIP or Voice Over Internet Protocol – transmission of voice and other multimedia content. It is widely used in different companies. For example, when conducting a marketing campaign, when negotiating a purchase / sale, when trying to lure customers, and so on.
- What is CRM? We are sure that you have often seen this abbreviation and could not understand what it is. It is rare that a business in our time does without Customer Relationship Management, this is how this abbreviation is deciphered. What is included here? In short, all the strategies, tools, techniques and technologies that managers of different levels undertake to generate new business (aka sales) leads and further profit. There are also special CRM software for collecting information from different channels for its further use for the company’s purposes. Usually to increase profits and regulate marketing and sales strategies.
- What is MQL? MQL or Marketing Qualified Lead is a term for leads that are most likely to become customers. This is one of the main concepts in the lead definitions area. This allows you to more accurately create forecasts and at least approximately understand how potentially profitable each lead can be in the future. The statement about how potentially profitable each lead can be is based on some behavior patterns.
- What is MMR? No, this is not about online games. MMR is Monthly Recurring Revenue. In simple words, this is a special financial indicator that indicates the income that the company expects to receive every month from its customers. That is, it is an approximate, predictable income. This is one of the key metrics for subscription-based or software-as-a-service business models.
Perhaps enough with the concepts. As we have already said, it is impossible to fit them all in one single article. We also understand that we have given you too little information. And we have something that can still help you and find even more useful information.
How can Belkins help you?
Belkins has been helping B2B companies solve many important issues and problems for more than 5 years. In short, here is an incomplete list of what you can offer:
- business lead generation help;
- LinkedIn Influencer Program;
- lead research;
- Inbound Appointment Settings;
- appointment settings help.
What about your hunger for information and what we promised you? Just visit the Glossary section of the site! There you will find much more information than we told you. Scrolling down you will see a very interesting form in which you can ask your question. Just enter your email and the question itself, a qualified employee will answer as soon as possible.
You can also visit the blog and articles section – there you will find even more information, although it would seem much more? But there is where. If you do not understand something, you can also visit the FAQ section (Frequently Asked Questions) or even contact support.
You also have the right not to believe us and our rave reviews. In this case, we can offer you to study the reviews of hundreds of satisfied customers who have used the services of Belkins and were able to make their B2B companies many times better.
However, you should consider that a lot also depends on you. No other company, no matter how good it is, will be able to solve absolutely all your problems and bring you billions in profits if you do not understand what and how to do. On behalf of our entire site, we wish you good luck and prosperity for your company!