Use the Language of Business | radioinfo

Use the Language of Business

Sunday 22 October, 2017
Image: Shutterstock

Peady's Selling Engagement sponsored by IRD Prospector

Welcome to this week’s post on sales and selling success.

As most of us know, in B2B selling its critical to connect and build ongoing professional relationships. A vital part of that relationship is to use their “business language”.

“You open a relationship if you want to build a long-term, successful business” 

Business language basics

The first step in mastering “business language” is to use (and understand) common phrases:

  • Turnover
  • Cashflow
  • Accounts payable and accounts receivable
  • Earnings or profit or margin
  • Inventory or stock
  • Business plan
  • Cost of sale (COS)
  • Return on investment (ROI)

For the explanations try: https://www.bizinaboxx.com/business-terms-and-definitions

Making your connection easier

Using these words as part of your conversations demonstrates that you are part of their team, you’re a business person like them. You’re more likely to gain a connection.

Customers, clients, guests

Another area that most media salespeople fail to address is what the customers of your customers are called. Here’s a short list

  • Customers (retail)
  • Clients (professional services)
  • Guests (hospitality)
  • Patrons (pubs and nightclubs)
  • Patients (health services)
  • Members (gyms and clubs)
  • Supporters (charity/community groups)

Is it important?

I’ll let you be the judge.

In my opinion, doing online research, reading business information and current updates will allow you to remain abreast with changes in the business environment. Additionally, you can keep up with any changes in terminology. This knowledge can prove to be essential when you are communicating with your current and future customers.

Until next week good selling!
 

About the author 

Stephen Pead is a media industry veteran of 30 years with significant experience in direct sales, sales management and general management. He is based in Sydney and specialises in helping SME’s market their businesses more effectively and providing training for salespeople and sales managers.

He can be contacted at stephen.pead@nrsmedia.com

 

 

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