Bonus: Glossary

https://www.getclarify.ai/glossary ←

At this point, we feel it’s important to quickly define the terms we’ll use. We’ll also try to define non-typical ones later in this program, but please familiarize yourself with each of these if you’re new to RevTech. If you’re experienced in this space, you can skip reading this and just refer to it if you come across an unfamiliar term.

A

Audience Segmentation: The process of dividing a target market into smaller, more defined categories based on shared characteristics, behaviors, or needs.

B

Business Intelligence: Tools and practices for analyzing business data to support better decision-making.

C

CDP (Customer Data Platform): A software that creates a persistent, unified customer database accessible to other systems, primarily focused on serving marketing teams.

Cold Outbound: The practice of initiating contact with potential customers who have not previously expressed interest in a product or service.

Coupling: In the FRIC framework, the degree of interdependence between different components of a tech stack.

CPQ (Configure, Price, Quote): Software that helps companies produce accurate and highly configured quotes.

CRM (Customer Relationship Management): A technology for managing all your company's relationships and interactions with customers and potential customers.

Customer Success Platform: Software designed to help businesses manage and analyze customer interactions and data throughout the customer lifecycle.

D

Data Federation: The process of combining data from multiple sources into a single, cohesive view.

Data Hygiene & Management: The process of ensuring data is clean, accurate, and usable, often involving dashboards for monitoring data quality.

Data Warehousing: A system for storing and managing large volumes of structured data from various sources.

Demo & Calendaring: Tools and processes for scheduling and conducting product demos.

F

Focus: In the FRIC framework, the principle of ensuring each tool in a tech stack serves a specific, well-defined purpose.

Forecasting: The process of estimating future business performance, often using dashboards for visualization and analysis.

FRIC Framework: A framework for building flexible tech stacks, focusing on Focus, Redundancy, Interoperability, and Coupling.

I

Inbound Routing: The process of automatically assigning incoming leads or customer inquiries to the appropriate team or individual.

Interoperability: In the FRIC framework, the ability of different systems, devices, or applications to connect, exchange, and cooperatively use data.

L

Lead Scoring: A methodology used to rank prospects against a scale that represents the perceived value each lead represents to the organization.

M

MarTech (Marketing Technology): The tools and platforms used by marketing teams to plan, execute, and measure marketing campaigns.

MQL (Marketing Qualified Lead): A lead inline with a company’s ICP that engages with a brand’s marketing often enough and deeply enough to be passed to the sales team based on lead intelligence.

P

Pipeline Management: The process of tracking and managing potential sales as they progress through various stages of the sales cycle.

PLG (Product-Led Growth): A business strategy where product usage drives customer acquisition, retention, and expansion.

Prospecting: The process of searching for potential customers, clients, or buyers for a company's products or services.

Q

Quota & Commission: Systems and processes for setting sales targets and calculating compensation for sales representatives.

R

Redundancy: In the FRIC framework, the principle of having multiple systems that can perform similar functions to ensure continuity and flexibility.

RevOps (Revenue Operations): The strategic integration of sales, marketing, and customer success operations.

RevTech (Revenue Technology): The suite of tools and technologies used to support and optimize revenue-generating processes.

Revenue Analytics & Intelligence: Tools and processes for analyzing revenue-related data to gain insights and make informed decisions.

S

Sales Enablement: The process of providing sales teams with the information, content, and tools they need to sell more effectively.

Signature and Document Generation: Tools for creating and managing sales-related documents and obtaining electronic signatures.

SQL (Sales Qualified Lead): A prospective customer that has been researched and vetted by the sales team as a good fit for the product and likely to convert into a customer.

T

Tech Stack: A set of technologies used to build and run an application or project.

Territory Management: The process of dividing a sales territory into segments to better organize and manage a sales team's efforts.

W

Workflow Automation: The process of using rule-based logic to automate manual work processes to improve efficiency and reduce errors.