Life Science Sales Glossary

Key Terms

Account-Based Marketing (ABM): A B2B marketing strategy focusing resources on specific target accounts. Average Contract Value (ACV): The average annual revenue per customer contract. BANT: Budget, Authority, Need, Timeline qualification framework. Champion: An internal advocate within the prospect's organization. CRO (Contract Research Organization): Provides outsourced research services. CDMO (Contract Development and Manufacturing Organization): Provides drug development and manufacturing services. Customer Acquisition Cost (CAC): Total cost of acquiring a new customer. Discovery Call: Initial sales conversation focused on understanding challenges. Email Deliverability: Ability to deliver emails to inboxes rather than spam. Ideal Customer Profile (ICP): Detailed description of the ideal customer company. GLP (Good Laboratory Practice): Quality system for research laboratories. GMP (Good Manufacturing Practice): Quality standards for pharmaceutical manufacturing.