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Business Development Terms Northamptonshire
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Business Development Advice Terms Northamptonshire
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Appointment Setting Terms Northamptonshire
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 Glossary of Terms 

The world of Business Development is full of abbreviations, acronyms and jargon. Here are a few of the most common terms and their meaning. 
Appointment Setting – Contacting prospective customers with the objective of arranging sales meetings. 
Business Development – A combination of sales and marketing techniques used to identify and cultivate new sales opportunities and revenue channels. 
Business Development Strategy - Sets out the approach for developing and cultivating new sales opportunities, either from existing customers or by proactively targeting new potential customers. 
Closing Techniques – Actions that sales people take to persuade the customer to make the necessary commitment. 
Cold Call – The process of telephoning potential customers with whom you have no existing relationship. 
Customer Avatar - A detailed profile of your target customer. 
Decision-Maker – The person who makes the decision about whether to purchase your products or services. 
Influencer – Influencers are people that affect a sale but are not the ultimate decision-maker. 
Networking Groups - Structured meetings where like-minded business people meet regularly with the intention of passing each other referrals. 
Points of Difference – Similar to USPs but are not necessarily unique. 
Qualifying Questions – Questions used to establish whether a prospect is likely to buy from you. Prospects are often qualified based on the acronym BANT - Budget, Authority, Needs, and Timeline. 
Sales Coach – An expert in sales who works on a 1-2-1 basis or with small groups of sales people in order to improve their sales abilities and results. 
Sales Training – Training, often in a group setting, focusing on more generic techniques such as how to close a sale. 
Social Selling - Utilising social networks such as LinkedIn, Twitter and Facebook as part of the sales process. 
SPIN Selling – Questioning technique based on identifying the problem, exploring the impact that the problem causes and then offering a solution. SPIN stands for Situation questions, Problem questions, Implication questions, Need-Payoff questions. 
Telemarketing - Outbound telemarketing is the process of telephoning potential customers. Inbound telemarketing is where respondents call you, usually as a response to direct mail or an advertisement. 
USP - The defining reasons which provide a competitive advantage over the competition. USP stands for Unique Selling Proposition. 
Warm Call - The process of telephoning potential customers with whom you already have some level of relationship, e.g. you have connected to them on LinkedIn. 
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