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Aging Cohort is a statistical segmentation of deals, consisting of a group of deals that all have similar age ranges and probability of closing, as determined by the Aging Schedule. It is used to gain an objective view into the performance of sales teams and monitor their progress over time.
An Aging Schedule is a data model used in Objective Sales Management (OSM) that tracks and analyzes the age of deals over time. It is designed to provide insights into the typical timeline for a deal to close, allowing sales teams to optimize their performance and increase the probability of closing more deals.
Customer Acquisition Cost
Customer Acquisition Cost (CAC) is a metric used in OSM to measure the cost of acquiring a new customer. It is calculated by taking the total costs associated with acquiring a customer (marketing, advertising, etc.) and dividing it by the total number of new customers acquired. CAC helps to identify how much is being invested to acquire a customer and how efficiently it is being done.
Ideal Customer Profile (ICP)
An ideal customer profile under OSM is a comprehensive description of customer attributes and behaviors that are expected to lead to successful sales outcomes. This profile is developed through data-driven analysis of previous customer interactions, purchase behaviors, and other relevant customer information. This type of profile allows sales teams to focus their efforts on customers that have the highest chance of making a purchase, improving the efficiency and accuracy of the sales process.
Product Market Fit (PMF)
Product Market Fit (PMF) is a measurement of the alignment between a product's features and the needs of its target customer. It is measured by assessing the rate of customer acceptance and usage of the product, as well as the customer feedback and ratings. OSM can be used to measure PMF by tracking the sales team's interactions with customers and analyzing the customer feedback data. This data can help to identify areas of improvement in the product and areas of misalignment with customer needs.
Sales Teams in OSM refer to groups of individuals responsible for pursuing and closing deals at the bottom of the sales funnel. They are responsible for utilizing data-driven insights to identify opportunities for improving sales performance and for driving sales conversions. They also use their salesmanship and psychological skills to develop relationships with customers and close deals.