Glossary of Sales Terms
A 'Database' is a set of records about
prospects and customers, often stored on some form of computer system.
The 'Database' forms the backbone of any sales or marketing campaign,
providing the contacts to be targeted. A sales and marketing database
may be expanded and called Customer Relationship Management (CRM).
selling through a dealer channel, an effective promotion can be to
offer a 'Dealer Incentive'. This is a specific promotion designed to
increase sales activity from the Dealer of your product or service.
conducting a bulk mailing of direct mail, a number of databases maybe
merged - with the result that some of the addresses maybe duplicated.
'Deduplication' refers to a controlled mailing system that makes sure a
specific address is only mailed to once, no matter how many times it
has been merged on to the list.
and Marketing work best when they use a focused approach. Focusing on
the most likely market to purchase will always provide a better Return
On Investment than blanket marketing to everyone on the planet.
'Demographics' provide a focusing tool, by looking at the
socio-economic characteristics of customers and prospects. By
identifying characteristics of most likely buyers by their
geographical location, profession, title, income, status, age, etc - it
is possible to focus sales and marketing efforts to provide the best
Return On Investment via 'Demographics'. See also Profile and Target
All humans experience life
through 'Differentiation' - from an early age we learn the difference
between loud and quiet, rough and smooth, hot and cold, etc. In sales
and marketing, 'Differentiation' refers to how a prospect will measure
your product against someone else's. 'Differentiation' helps in sales
and marketing to define the characteristics of a product that is not
available from a competitor - often called a USP or Unique Selling
Point. Whilst 'Differentiation' forms the building blocks of any sales
offering, it gains increasing importance in a market saturated by
'Direct Mail' is the
dispatching of unsolicited advertising circulars or other printed
matter sent directly through the mail to prospective customers. The
concept of writing a letter to a person or a organisation in order to
strike a business deal has probably been around since the written
language began. With the advent of the Internet and email, email
marketing has become increasingly popular. Contrary to the popular
belief that emails have now superseded hard-copy post, 'Direct Mail' -
the sending of messages through the postal system (snailmail) remains
one of the most effective tools for sales and marketing in the 21st
There are many facets of
'Direct Marketing' but the best definition is probably - the marketing
and sale of products without the requirement for a retail outlet.
Direct Marketing is a sub-division of Marketing, a method of
advertising a product, which generally uses below-the-line advertising -
which often includes telemarketing, direct mail, and email to reach
prospective customers. The 'Direct' part of the term refers to missing
out the requirement for a physical shop and also refers to the 'Direct'
or fastest route to market. Of all the 'Direct Marketing' approaches,
telemarketing is the only rapid route to market that engages people in
an immediate 2-Way communication of ideas that could lead to a sale.
Direct Response Advertising
Response Advertising' is all about initiating a call to action - an
immediate result from the advertising. An advertisement in many forms
of media including - Television, online, in a newspaper or magazine
prompts the prospect to respond by email, telephone or post. Rather
than simply stating why a product should be bought - 'Direct Response
Advertising' tries to initiate the prospect to buy as an immediate
action. This is generally achieved via a compelling offer to act
DiscountA 'Discount' is a promotional tool to entice a buyer to purchase via offering a reduction off the quoted or list price of a product. Discounts are often expressed as a percentage. A 'Discount' is generally used as a sales tool for bulk purchases.
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Tel. 0870 042 1263
or read my blog at www.freelancetelemarketing.org.uk