Sales Tracking and Reporting Key Terms

Put sales reports together with a good understanding of sales tracking and reporting concepts

Keeping track of your sales and customer information is an important opportunity to expand your business. Putting together great sales tracking and reporting information is an important part of any sales design. Before purchasing tracking software or starting your sales analysis, you'll want to get informed.

Learn a few key words associated with tracking and reporting such as funnel tracking and ambush marketing. You'll find the tracking and reporting process much smoother after reviewing the terms you'll come across.

Features advantages benefits

Features advantages beneftis, or FABs, describe why a product is advantageous to a customer. An FAB is put together to show a products description and benefits as part of a sales projection.

Funnel tracking

Funnel tracking is a method used to figure out when customers will lose interest in a product. The process looks for problem areas in a sales report to identify what causes the customer to leave the buying process.

Ambush marketing

Ambush marketing refers to the use of a product during an event or with other brand products without permission. The process usually happens when a company doesn not want to spend money on an event sponsorship or has already been beaten to the sponsorship by another brand.

Sales automation

Sales automation is usually included as part of a sales and tracking software program. Managers are able to track the sales cycle, create sales leads, follow-up reminders, sales data projections and much more in a sales automation system.

Lead

Lead is a basic sales term referring to information of a potential customer. The customer, or prospect as sometimes refered to, can be found through referrals, advertising or other means.

Sales cycle

The sales cycle is the basic time line between contacting a lead and selling an item. Other terms meaning the same thing include sales process and sales gestation period.

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