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Quick Reference Guide To Pitch Acronyms

Quick Reference Guide To Pitch Acronyms

One of the challenges of the new business process is understanding exactly what the prospect wants. Sometimes jargon and acronyms can create confusion for all, especially during the briefing, proposal or bid and pitch process. So here is a quick reference guide for common sales acronyms:

ABC — Always Be Closing
AIDA — Attention, Interest, Desire, Action
ARR — Annual recurring revenue
B2B — Business-to-Business
B2C — Business-to-Consumer
B2C2B — Business-to-Consumer-to-Business
BANT — Budget-Authority-Need-Timeline
CAC — Customer Acquisition Cost
CBM – Common Buying Motives (Rational and Emotional)
CCR — Customer Churn Rate
CLTV — Customer Lifetime Value
CMRR — Committed Monthly Recurring Revenue
CPV – Common Procurement Vocabulary (Codes)
CPV Codes – Common Procurement Vocabulary
CTA — Call-To-Action
CX — Customer experience
EOI – Expression of Interest
ESPD – European Single Procurement Document
FAB — Features, Advantages, Benefits
FUD — Fear, Uncertainty, Doubt
ICP — Ideal Customer Profile
IPP – Invitation to Provide a Proposal
ITT – Invitation to Tender
JV – Joint Venture
KPI — Key performance indicator
LAARC — Listen-Acknowledge-Assess-Respond-Confirm
LAIR — Listen-Acknowledge-Identify the objection-Reverse the objection
LTV — Lifetime Value (of a customer)
LVR — Lead Velocity Rate
MEAT – Most Economically Advantageous Tender
MRR — Monthly Recurring Revenue
MTD — Month-to-date
NSV – National Supplier Vocabulary (Codes)
OJEU – Official Journal of the European Union (formerly OJEC)
OKRs — Objectives and Key Results
OOO — Out of office
P&L — Profit and loss
PESTLE (Political, Economic, Social, Technological, Legal and Environmental)
PIN – Periodic Indicative Notice, Prior Information Notice
PQQ – Pre-qualification questionnaire
QHSE (SHE / SHEQ) – Quality, Health, Safety, Environment
RFI – Request for Information
RFP – Request for Proposal
RFQ – Request for Quotation
ROI — Return on investment
SAL — Sales accepted lead
SLA – Service Level Agreement
SMART — Specific, Measurable, Attainable, Realistic, Time-Bound
SMB — Small and medium sized business
SME (1)– Subject Matter Experts
SME (2)– Small and Medium-sized Enterprises
SPIN — Situation, Problem, Implication, Need
SWOT — Strengths, Weaknesses, Opportunities, Threats
TED — Tell me, Explain to me, Describe to me
TUPE – Transfer of Undertakings (Protection of Employment)
WIIFM — What’s In It For Me?
YTD — Year-to-date

If we have missed any obvious acronyms let us know below. We’ll gladly add it into the list above!

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