this is code or slang for getting in good with someone of the opposite sex. whether it be getting first, second, third or a grand slam when you get it you wanna spread the word
this could also be considered when your girl is open to take it to the next level whatever that level maybe
Guy 1: dude you look happy
Guy:2 Oh you bet man I got " The Word "
Guy 1: shut up! She agreed to take it to the next level?
Guy 2: What did I tell you man She gave me " The Word "