COURSE CAREER TECHNOLOGY SALES COURSE FINAL , STUDY GUIDE AND PRACTICE EXAMS, Exams of Nursing

Download COURSE CAREER TECHNOLOGY SALES COURSE FINAL , STUDY GUIDE AND PRACTICE EXAMS and more Exams Nursing in PDF only on Docsity! COURSE CAREER TECHNOLOGY SALES COURSE FINAL , STUDY GUIDE AND PRACTICE EXAMS WITH ACTUAL CORRECT QUESTIONS AND VERIFIED DETAILED RATIONALES ANSWERS LATEST 2024 ALREADY GRADED A+ COURSE CAREER TECHNOLOGY SALES COURSE FINAL What's the primary reason you use social selling? To sell your products or services To build familiarity with prospects To get inbound leads To build familiarity with prospects What's the primary social channel in B2B sales? Facebook Twitter LinkedIn Instagram LinkedIn What do people getting called by a salesperson dislike the most? Salesperson being vague and difficult to understand their intentions Salesperson being clear and transparent about their intentions Salesperson being relevant to your situation and problems Salesperson being quick to get to the point Salesperson being vague and difficult to understand their intentions What is a value proposition? A clear statement of the tangible results a customer gets from using your products or services. A quick statement about the success of your company. An intelligent question to figure out if they have a need for your products or services. A concise statement about the history of your company A clear statement of the tangible results a customer gets from using your products or services. What's the main difference between a targeted bridge and a strategic bridge? Strategic bridges use common industry vertical Strategic bridges use common products or service applications Strategic bridges use information custom to each prospect Strategic bridges use common decision-maker roles Strategic bridges use information custom to each prospect If you could only choose one prospecting method which would be best? Phone Email Social In-person Phone What's the correct order for the cold-calling framework? Identify-Attention-What you want-Bridge-Ask What you want-Attention-Identify-Ask-Bridge Bridge-Identify-Attention-What you want-Ask Attention-Identify-What you want-Bridge-Ask Attention-Identify-What you want-Bridge-Ask What shouldn't you say on a cold call? The reason for my call is How are you doing? Hi, (first name) Because How are you doing? What's the correct order for the voice-mail framework? Identify-Phone number twice-Reason for call-Reason to call back-Phone number twice Reason for call-Phone number twice-Identify-Reason to call back-Phone number twice Identify-Reason for call-Phone number twice-Reason to call back-Phone number twice Phone number twice-Reason for call-Identify-Phone number twice-Reason to call back Identify-Phone number twice-Reason for call-Reason to call back-Phone number twice Should you time your calls based on the best answer rate of your prospects? Yes No No Am I going to be a failure? What am I going to do to succeed? How bad do you want it? What's the worst that can happen? How bad do you want it? What kind of salespeople was SPIN written for? Salespeople who sell cell phones Salespeople who have short, simple sales cycles Salespeople who have long, complex sales cycles All of the above Salespeople who have long, complex sales cycles What's the definition of a small sale? Selling to a small company Completed in a single call and involves a low dollar value Selling a product or service that only helps companies by a small amount A sale which isn't very complex Completed in a single call and involves a low dollar value What factor(s) make a major sale different from a small sale? Length of selling cycle Size of customer's commitment and risk The ongoing relationship All of the above All of the above What are the four stages of a sales call in order? Preliminaries - Investigating - Demonstrating Capability - Obtaining Commitment Obtaining commitment - Demonstrating Capability - Investigating - Preliminaries Preliminaries - Demonstrating Capability - Investigating - Obtaining Commitment Investigating - Preliminaries - Demonstrating Capability - Obtaining Commitment Preliminaries - Investigating - Demonstrating Capability - Obtaining Commitment Which stage of the sales call is the most important? Demonstrating Capability Investigating Obtaining Commitment Preliminaries Investigating What is a good definition for SPIN? A framework for asking questions that lead to satisfactory results A questioning model for the investigation stage of the sale A guide on how to use open and closed questions A framework for demonstrating capabilities of your product or service A questioning model for the investigation stage of the sale What does SPIN stand for? Situation - Prospect - Importance - Necessities Situation - Problem - Importance - Need-payoff Situation - Problem - Implication - Need-payoff Simple - Problem - Person - New Situation - Problem - Implication - Need-payoff What's SPIN selling's definition of closing? Getting a order from a customer A behavior used for a buyer which signals that they are ready to buy, which allows the seller to ask for the order A signed contract or money in hand from a customer A behavior used by the seller which implies or invites a commitment, so that the buyer's next statement accepts or denies commitment A behavior used by the seller which implies or invites a commitment, so that the buyer's next statement accepts or denies commitment Do more closing techniques improve sales success in larger sales? Yes No No Do more sophisticated buyers react well to closing techniques? Yes No No Is it a failure if you don't get an order during your meeting for a large sale? Yes No No What are the successful outcomes in a large sale? Order or Continuation Order or Advance Order, Advance, or Continuation Continuation or Advance Order or Advance What's the most common objective in a large sale? Continuation Advance Order No-sale Advance What are successful actions of a sales meeting? Investigating and demonstrating capability Checking that key concerns are covered Proposing a commitment All of the above All of the above What's SPIN selling's definition of a need? An objective requirement a project has Any statement made by the buyer which expresses a want or concern that can be satisfied by the seller A statement made by the buyer which expresses a strong emotional desire to purchase a product or service A functional requirement necessary for a business Any statement made by the buyer which expresses a want or concern that can be satisfied by the seller How are explicit needs different from implied needs? Explicit needs are needs that are worth more money Explicit needs are needs that multiple people have Explicit needs are strong wants or desires Explicit needs are dissatisfactions with current solution Fact or characteristic of a product or service Show how a product or service meets an explicit need expressed by the customer Show how a product or service isn't of value to the customer Show how a product or service can be used or can help the customer What's the definition of a benefit? Show how a product or service can be used or can help the customer Fact or characteristic of a product or service Show how a product or service meets an explicit need expressed by the customer Show how a product or service isn't of value to the customer Show how a product or service meets an explicit need expressed by the customer What is this? Seller: And another thing about the system is that it has balanced voltage stabilization. Buyer: Oh, what does that do? Feature Advantage Benefit Feature What is this? Seller: It protects you from current surges so that you won't lose valuable data if you have a voltage fluctuation. Buyer: That isn't necessary here. This building is wired for scientific use, so there's inbuilt voltage protection. Feature Advantage Benefit Advantage What is this? Seller: But I'm sure you'll find the backup memory useful. It means that even in the event of an operator error wiping out your main files, you'll always have automatic backup - so you'll never run the risk of losing key data. Buyer: And how much does this configuration cost? Feature Advantage Benefit Advantage What is this? Seller: The basic core system costs $78,000 Buyer: And is it compatible with our optical readers? I need to be able to read source data straight into memory. Feature Advantage Benefit Feature Do more objections result in more sales? Yes, they indicate interest from the buyer No, they indicate dissatisfactions with the buyer No, they indicate dissatisfactions with the buyer What's the root cause of most objections? Lack of compatibility Not enough interest in solution Not enough perceived value Lack of time to talk Not enough perceived value Are first impressions a large factor with success in large sales? Yes, they set the rest of your interaction up for success or failure No, there are still many other parts of your sales interaction that are much more important No, there are still many other parts of your sales interaction that are much more important Is personal loyalty a large factor for doing business in large sales? Yes, building personal familiarity with your prospects is just as important as the value of your solution to their organization. No, businesses care much more about the value of solutions than they do about personal loyalty to sales people. No, businesses care much more about the value of solutions than they do about personal loyalty to sales people. What's the common factor of most good call openings? They talk about the history of your company They get the prospect to agree that you should ask questions They teach the customer about how valuable your solution is They get the prospect to ask you questions They get the prospect to agree that you should ask questions What is a Sales Cadence? A sequence of touch-points you do to attract your prospect to establish a connection to start an engagement or sale. What is the Sales Process (Sales Cycle)? A set of Specific actions you follow from start to finish to close a new customer. What are the stages of the Sales Cycle?` Research > Outreach > Discovery > Present > Follow Up > Close What is a Sales Funnel? A visual representation of sales processes with defined stages that every potential client goes through as they are led toward a final decision. - Give salespeople a repeatable framework of actions to follow - Creates a baseline for comparison and forecasting What is a CRM? A Centralized database that manages and maintains your relationships and interactions with customers and potential customers. Ex. Salesforce and Hubspot What is Sales Engagement? (Sales Acceleration) Tracks the interactions and exchanges that occur between you and your prospects or customers. Ex. Salesloft, Hubspot Sales, Outreach What is Sales Data Software? (Sales Intelligence) Collects and makes sense of company info from millions of data sources to help you understand things like organization structure. It provides on two parts of the sales data market, Company Data and Contact Data. Ex. LinkedIn Sales Navigator, Apollo, Zoominfo What is Step 1 in the Research Process? Building company lists based on your Ideal Customer Profile (ICP) What is Step 2 in the Research Process? Building contact lists based on buyer persona What is Step 3 in the Research Process? Find contact info for each contact What is Step 3 in the Research Process? What's the main difference between mankind and animals? The desire to be loved The desire to feel important The desire for food The desire for sex The desire to feel important The only way on earth to influencer other people is how? Talking about what they want and showing them how to get it Making them feel bad for you Showing them how much something they can do will help you Using reverse psychology to tell them they don't need something Talking about what they want and showing them how to get it You can make more friends in two months by doing what? trying to get them interested in you showing them how cool of a person you are becoming interested in them getting them to try your hobbies Showing interest in them You should always smile because of what reason? it makes people like you it makes you happier it costs you nothing All of the above All of the above The sweetest sound to a person in any language is what? a lady singing that person's name that person's favorite song a bird singing That person's name What do people love to talk about the most? Themselves Other people Politics All of the above Themselves When should you argue with someone? When you know you can win When you know they are wrong When it's an important matter Never because you can't win Never because you can't win By telling someone they're wrong you are... making them feel unintelligent making them feel they have a bad sense of judgment hurting their pride and respect All of the above All of the above What should you do if you realize you're wrong? Find someone you can blame Defend your position by trying to convince them you're not wrong Admit you're wrong Avoid talking to the person who is right Admit you're wrong When trying to convince someone of something you should... try to push hard for an agreement where they must start telling you "No" since it brings all the objections to the surface get them to agree to small things by telling you "Yes" since it gets them in the mode of saying yes and agreeing Get them to agree to small things by telling you "Yes" since it gets them in the mode of saying yes and agreeing. What do people prefer more? Listening to others talk Having others listen to them talk Having other listen to them talk What ideas do people like more? Ideas they feel they came up with themselves Ideas others came up with and are telling them about Ideas they feel they came up with themselves What's the best way to see things from the other person's point of view? Think about your experiences and compare that to theirs Put yourself in their shoes and think how you would feel or react if you went through the same experiences Ask yourself why that person thinks the way they do Don't even try to see their point of view if they're wrong Put yourselves in their shoes and think how they would feel or react if you went through the same experiences Why is it important to see things from the other person's point of view? So you can tell them why their wrong So you can help them understand that their point of view doesn't matter So you can sympathize with their point of view before helping them understand your point of view So you can use logic and reasoning to break apart their point of view So you can sympathize with their point of view before helping them understand your point of view Why do people do well under competition? They are afraid of losing and being fired They want to learn from the other people who are better than them They have a desire to show the other person they aren't that good They have a desire to excel and feel important They have a desire to excel and feel important Before telling someone about their shortcomings you should tell them facts that would prove what you're going to say is true talk about how they can improve their shortcomings tell them how much you appreciate their work and how you also have shortcomings talk about how bad they are at their work, so their shortcomings don't seem as bad in comparison Tell them how much you appreciate their work and how you also have shortcomings Instead of giving direct orders you should Use body language to show what you want Make suggestions by asking questions multiple goals at the same time. Yes, salespeople are much more efficient when they focus on a single activity and set one goal at a time. Yes, salespeople are much more efficient when they focus on a single activity and set one goal at a time. What's your objective as a B2B sales development rep on the first contact with a new prospect? Set an appointment Gather information and qualify Close a sale Build familiarity Set an appointment What does your job as a sales development rep consist of? Set appointments with the prospects that are highly qualified and/or in the buying window Nurture the prospects that you've qualified but are not in the buying window Gather information on the prospects for which you have some or no data so you can qualify their potential and learn their buying windows All the above All of the above What is a touch? An email A call A social connection Anything that increases familiarity with a prospect Anything that increases familiarity with a prospect How many touches on average does it take to engage a cold prospect? 3-10 touches 20-50 touches 1-3 touches 5-20 touches 20-50 touches What quality can you use to organize a prospect list? Qualification level Potential deal size Industry vertical All of the above All of the above What is the difference between a prospect and a lead? Both describe a potential customer and have intertwined meanings that only differ based on who you are talking to. What are the four stages of a sale call in order from spin selling? Preliminaries - Investigation - Demonstrating Capabilty - Obtaining Commitment Brainpower Read More How would you respond to the objection: I'm not the right person? Do you know who the right person is? What is a C-level executive? The highest level of executives who run the operations of a company Which stage of the sales call is the most important? Investigation What should you avoid using in a prospecting email? Avoid Bullet points, Images, Attachments What's a SQL? A prospect who is qualified to buy your product or service Where will you be using SPIN the most as an SDR? Discovery How should you send a LinkedIn prospecting message? Make it as short as possible since people get too many spam messages on LinkedIn What's an influencer? Someone who influences the decision of a purchase Why do salespeople use CRM system instead of a spreedsheet or piece of paper? A CRM system helps organize your contacts, companies, and all of the information associated with them and they can be easily searched. What's the correct BANT order for a discovery call? Need - Authority - Timing - Budget The only way on earth to influence other people is by? Talking about what they want and showing them how to get it Which CRM systems are the most widely used? Salesforce and Hubspot How should you open a discovery call? Set the expectations for the call You can make more friends in two months by? Becoming interested in them Why do salespeople use sales engagement software? A sales engagement system helps salespeople execute their cadence with automation What's your ultimate goal at the end of a discovery call? Schedule a time on the calendar if they are qualified to purchase What ideas do people like more? Ideas they feel they came up with themselves Which sales engagement software is the most widely used? Outreach and Salesloft Who is the highest ranking in an organizational structure? Board of Directors Why do sales people use sales date software? Sales data software gives salespeople data about their prospective contacts Why are organizational structures valuable? They give titles to employees based on hierarchy, Defines employee job and responsibilities, Defines employees decision making ability Which sales data software is the most widely used? ZoomInfo What's the definition of an ICP? It's the fictitious company persona of your ideal customer What are the four research steps in order? Intro > Reason > Qualify > Ask What are the four stages of Discovery Call? Preliminaries, Investigating, Demonstrating Capabilities, Obtaining Commitment What is SPIN? A sales methodology developed by Neil Rackam, where the reps organize sales calls using a question framework that touches on four categories. What do the acronyms in SPIN stand for? Situation, Problem, Implication, Need-payoff What does the S in SPIN stand for? Situation - Questions focus on gathering facts and background What does the P in SPIN stand for? Problem - Questions explore customers problems, difficulties, and dissatisfaction's in areas where the sellers products can help What does the I in SPIN stand for? Implication - Questions take the customers problems and explores its effects or consequences. They also help customers understand a problems seriousness or urgency. What does the N in SPIN stand for? Need - Questions help the customer focus their attention on the solution rather than the problem. They get the customer to tell you the benefits of fixing their problems. When in the four stages of discovery calls do you use SPIN? The Investigation stage What is BANT? A sales qualification methodology that lets salespeople determine whether a prospect is a good fit based on this. What does the acronyms in BANT stand for? Budget, Authority, Need (Using SPIN), Timeline. What is the most important part of BANT and why should you always start with it? Need, this determines if the customer has the need for your product and is asked in the order of NATB What is a Cold Email? Part of your outreach cadence. These allow you to get in front of very important and hard-to-reach people that you would have a hard time getting a message through with another method. What is the Cold Email Formula? Intro (Address Them) > Reason > Value Prop (Solution to their problem, challenge, or difficulty and why they care) > Ask (What you want, meeting or introduction) > Closing (Sign off) What is a SQL? A prospect who is qualified to buy your product or service What is an account? The records of all the information associated with a prospective or current customer What is a Champion? Someone who salespeople love What does CAC stand for? Customer Acquisition Cost What is an Influencer? Someone who influences the decision of a purchase What is Churn? Customers who were on a subscription and stopped using/paying for it What is a C-Level executive? The highest level of executives who run the operations of a company What is a Gatekeeper? Someone who is in charge of deciding who talks to the executives What did Bob Hoover do to the mechanic who made his plane crash and almost got him killed? He yelled at him for being a bad mechanic and fired him. He told him he would have his mechanics license revoked. He criticized him for being so careless, but forgave him. He told him to service his F-51 plane tomorrow since he's sure he won't make this mistake again. He told him to service his F-51 plane tomorrow since he's sure he won't make that mistake again. What's the main difference between mankind and animals? The desire to be loved The desire to feel important The desire for food The desire for sex The desire to feel important The only way on earth to influencer other people is how? Talking about what they want and showing them how to get it Making them feel bad for you Showing them how much something they can do will help you Using reverse psychology to tell them they don't need something Talking about what they want and showing them how to get it You can make more friends in two months by doing what? trying to get them interested in you showing them how cool of a person you are becoming interested in them getting them to try your hobbies Showing interest in them You should always smile because of what reason? it makes people like you it makes you happier it costs you nothing All of the above All of the above The sweetest sound to a person in any language is what? a lady singing that person's name that person's favorite song a bird singing That person's name What do people love to talk about the most? Themselves Other people Politics All of the above Themselves When should you argue with someone? When you know you can win When you know they are wrong confidence praise Praise When trying to make someone want to do something you should tell them how much you want them to do it be very direct where there is no room for them to question your authority tell them how important what they're doing is and how they'll benefit tell them the consequences if they don't do it Tell them how important what they're doing is and how you'll benefit What's the #1 reason for failure in sales? Lack of closing skills Lack of prospecting Inferior product Subpar presentation skills Lack of prospecting Is cold calling necessary? No, companies generate enough leads through marketing No, cold calling is outdated because prospects can do their own research on the internet Yes, most companies don't have enough leads to keep their salespeople busy and the best prospects are used to having salespeople go to them Yes, salespeople need more practice talking to prospects that don't matter Yes, most companies don't have enough leads to keep their salespeople busy and the best prospects are used to having salespeople go through to them The main reason salespeople are afraid of cold calling is because they don't know their product well enough the prospect doesn't know who they are they think they'll be rejected they don't want to interrupt prospects They don't want to interrupt prospects What's the best prospecting technique? Cold call Email Social A balance of many different techniques A balance of many different techniques What's the most important daily imperative of a successful salesperson? Improving your prospecting techniques Learning more about your product Keeping a pipeline full of qualified prospects Researching new accounts Keeping a pipeline full of qualified prospects What is the formula for predicting sales? Efficiency + Performance = Effectiveness Efficiency + Effectiveness = Performance Effectiveness + Performance = Efficiency Efficiency + Effectiveness = Performance When is spending time doing research in advance to calling a good idea? When you have some extra time When you need to make more sales When you need to schedule more appointments When you're calling C-level prospects selling a high-value product/service When you're calling a C-level prospects selling a high-value product/service What are your Golden Hours as a salesperson? The time you use to learn more about your product The time you use to do sales activities such as prospecting and qualifying The time you use to research your prospects The time you use to improve your sales skills and knowledge The time you use to do sales activities such as prospecting and qualifying Should you schedule your work in time blocks? No, salespeople are much more efficient when they combine different activities together to accomplish multiple goals at the same time. Yes, salespeople are much more efficient when they focus on a single activity and set one goal at a time. Yes, salespeople are much more efficient when they focus on a single activity and set one goal at a time. What's your objective as a B2B sales development rep on the first contact with a new prospect? Set an appointment Gather information and qualify Close a sale Build familiarity Set an appointment What does your job as a sales development rep consist of? Set appointments with the prospects that are highly qualified and/or in the buying window Nurture the prospects that you've qualified but are not in the buying window Gather information on the prospects for which you have some or no data so you can qualify their potential and learn their buying windows All the above All of the above What is a touch? An email A call A social connection Anything that increases familiarity with a prospect Anything that increases familiarity with a prospect How many touches on average does it take to engage a cold prospect? 3-10 touches 20-50 touches 1-3 touches 5-20 touches 20-50 touches What quality can you use to organize a prospect list? Qualification level Potential deal size Industry vertical All of the above All of the above What's the primary reason you use social selling? To sell your products or services To build familiarity with prospects To get inbound leads To build familiarity with prospects Convince them you already have a meeting with someone Offer them some money through cash app/venmo There is no secret technique Lie to them about who you are There is no secret technique Can inside sales reps, such as SDR's, use in person prospecting? Yes No No What should you avoid including in a prospecting email? Images Hyperlinks Spammy words and phrases All of the above All of the above The best emails include Long important sounding pitches with lots of industry jargon History of your company How you can solve a relevant problem they have All of the above How you can solve a relevant problem they have What's the correct order for the email framework? Relate-Hook-Bridge-Ask Hook-Relate-Bridge-Ask Bridge-Relate-Hook-Ask Ask-Relate-Bridge-Hook Hook-Relate-Bridge-Ask What's the most important factor when texting prospects? Your value proposition Your ask Your familiarity Your compliments Your familiarity What should you do when texting? Identify yourself Be direct Avoid abbreviations All of the above All of the above What are the 4 pillars of mental toughness? Desire, Competitiveness, Optimism, Mental Resilience Desire, Mental Resilience, Outlearn=Outearn, Physical Resilience Grit, Self-Confidence, Attitude Control, Attention Control Grit, Desire, Mental Resilience, Physical Resilience Desire, Mental Resilience, Outlearn=Outearn, Physical Resilience What are the important Eleven words? When it is time to go home, send one more email. When it is time to go home, make one more call. When it is time to go home, don't leave the office. When it is time to go home, write down your goals. When it is time to go home, make one more call. What's the only question that matters? Am I going to be a failure? What am I going to do to succeed? How bad do you want it? What's the worst that can happen? How bad do you want it? What kind of salespeople was SPIN written for? Salespeople who sell cell phones Salespeople who have short, simple sales cycles Salespeople who have long, complex sales cycles All of the above Salespeople who have long, complex sales cycles What's the definition of a small sale? Selling to a small company Completed in a single call and involves a low dollar value Selling a product or service that only helps companies by a small amount A sale which isn't very complex Completed in a single call and involves a low dollar value What factor(s) make a major sale different from a small sale? Length of selling cycle Size of customer's commitment and risk The ongoing relationship All of the above All of the above What are the four stages of a sales call in order? Preliminaries - Investigating - Demonstrating Capability - Obtaining Commitment Obtaining commitment - Demonstrating Capability - Investigating - Preliminaries Preliminaries - Demonstrating Capability - Investigating - Obtaining Commitment Investigating - Preliminaries - Demonstrating Capability - Obtaining Commitment Preliminaries - Investigating - Demonstrating Capability - Obtaining Commitment Which stage of the sales call is the most important? Demonstrating Capability Investigating Obtaining Commitment Preliminaries Investigating What is a good definition for SPIN? A framework for asking questions that lead to satisfactory results A questioning model for the investigation stage of the sale A guide on how to use open and closed questions A framework for demonstrating capabilities of your product or service A questioning model for the investigation stage of the sale What does SPIN stand for? Situation - Prospect - Importance - Necessities Situation - Problem - Importance - Need-payoff Situation - Problem - Implication - Need-payoff Simple - Problem - Person - New Situation - Problem - Implication - Need-payoff To uncover implied needs and develop them into explicit needs To uncover explicit needs and develop them into implied needs To uncover implied needs and develop them into explicit needs Which type of question is the least related to a successful sales call? Situation Questions Problem Questions Implication Questions Need-Payoff Questions Situation Questions What's the purpose of problem questions? To get them to state the benefits of solving their problems To uncover implied needs To learn how problems affect their business To uncover the biggest problems in their organization To uncover implied needs What's the purpose of implication questions? To uncover some of the problems your prospect is having in relation to your solution To get them to state the benefits of solving their problems To take a problem that the buyer perceives to be small and build it up into a large enough problem to justify action To learn about their authority to take action To take a problem that the buyer perceives to be small and build it up into a large enough problem to justify action Which questions do decision-makers respond best to? Implication Questions Situation Questions Problem Questions Need-Payoff Questions Implication Questions Should you always use the SPIN model in sequence? Yes, SPIN is a formula that always works and should always be used in order No, SPIN is a formula that normally works, but should be altered based on different situations No, SPIN is a formula that normally works, but should be altered based on different situations Should you plan your questions in advance? Yes, it's hard for good questions to spring up in your mind when your talking No, you don't want to sound like you're reading from a script and come off as ingenuine Yes, it's hard for good questions to spring up in your mind when your talking When shouldn't you use need-payoff questions? Towards the end of the call Early in the call When the customer raises a need you can't meet Both early in the call and when the customer raises a need you can't meet Both early in the call and when the customer raises a need you can't meet What's the definition of a feature? Show how a product or service can be used or can help the customer Fact or characteristic of a product or service Show how a product or service meets an explicit need expressed by the customer Show how a product or service isn't of value to the customer Fact or characteristic of a product or service What's the definition of an advantage? Show how a product or service can be used or can help the customer Fact or characteristic of a product or service Show how a product or service meets an explicit need expressed by the customer Show how a product or service isn't of value to the customer Show how a product or service can be used or can help the customer What's the definition of a benefit? Show how a product or service can be used or can help the customer Fact or characteristic of a product or service Show how a product or service meets an explicit need expressed by the customer Show how a product or service isn't of value to the customer Show how a product or service meets an explicit need expressed by the customer What is this? Seller: And another thing about the system is that it has balanced voltage stabilization. Buyer: Oh, what does that do? Feature Advantage Benefit Feature What is this? Seller: It protects you from current surges so that you won't lose valuable data if you have a voltage fluctuation. Buyer: That isn't necessary here. This building is wired for scientific use, so there's inbuilt voltage protection. Feature Advantage Benefit Advantage What is this? Seller: But I'm sure you'll find the backup memory useful. It means that even in the event of an operator error wiping out your main files, you'll always have automatic backup - so you'll never run the risk of losing key data. Buyer: And how much does this configuration cost? Feature Advantage Benefit Advantage What is this? Seller: The basic core system costs $78,000 Buyer: And is it compatible with our optical readers? I need to be able to read source data straight into memory. Feature Advantage Benefit Feature Do more objections result in more sales? Yes, they indicate interest from the buyer No, they indicate dissatisfactions with the buyer No, they indicate dissatisfactions with the buyer What's the root cause of most objections? Lack of compatibility Not enough interest in solution Not enough perceived value Lack of time to talk Not enough perceived value Are first impressions a large factor with success in large sales? a profile of an ideal client for your business. Customers that have a strong need and budget for your product. They can be defined by Company Size, Revenue, Industry, Geography, Technology, Process Sales Cadence A sequence of touch-points you do to attract your prospect to establish a connection to start an engagement or sale. What is the Sales Process (Sales Cycle)? A set of Specific actions you follow from start to finish to close a new customer. What are the stages of the Sales Cycle?` Research > Outreach > Discovery > Present > Follow Up > Close What is a Sales Funnel? A visual representation of sales processes with defined stages that every potential client goes through as they are led toward a final decision. - Give salespeople a repeatable framework of actions to follow - Creates a baseline for comparison and forecasting What is a CRM? A Centralized database that manages and maintains your relationships and interactions with customers and potential customers. Ex. Salesforce and Hubspot What is Sales Engagement? (Sales Acceleration) Tracks the interactions and exchanges that occur between you and your prospects or customers. Ex. Salesloft, Hubspot Sales, Outreach What is Sales Data Software? (Sales Intelligence) Collects and makes sense of company info from millions of data sources to help you understand things like organization structure. It provides on two parts of the sales data market, Company Data and Contact Data. Ex. LinkedIn Sales Navigator, Apollo, Zoominfo What is Step 1 in the Research Process? 1. Building company lists based on your Ideal Customer Profile (ICP) 2. Building contact lists based on buyer persona 3. Find contact info for each contact What is Step 2 in the Research Process? 1. Building company lists based on your Ideal Customer Profile (ICP) 2. Building contact lists based on buyer persona 3. Find contact info for each contact What is Step 3 in the Research Process? 1. Building company lists based on your Ideal Customer Profile (ICP) 2. Building contact lists based on buyer persona 3. Find contact info for each contact What is the Cold Calling formula? Intro > Reason > Qualify > Ask What are the four stages of Discovery Call? Preliminaries, Investigating, Demonstrating Capabilities, Obtaining Commitment What is SPIN? A sales methodology developed by Neil Rackam, where the reps organize sales calls using a question framework that touches on four categories. What do the acronyms in SPIN stand for? Situation, Problem, Implication, Need-payoff What does the S in SPIN stand for? Situation - Questions focus on gathering facts and background What does the P in SPIN stand for? Problem - Questions explore customers problems, difficulties, and dissatisfaction's in areas where the sellers products can help What does the I in SPIN stand for? Implication - Questions take the customers problems and explores its effects or consequences. They also help customers understand a problems seriousness or urgency. What does the N in SPIN stand for? Need - Questions help the customer focus their attention on the solution rather than the problem. They get the customer to tell you the benefits of fixing their problems. When in the four stages of discovery calls do you use SPIN? The Investigation stage What is BANT? A sales qualification methodology that lets salespeople determine whether a prospect is a good fit based on this. Budget, Authority, Need (Using SPIN), Timeline What does the acronyms in BANT stand for? Budget, Authority, Need (Using SPIN), Timeline. What is the most important part of BANT and why should you always start with it? Need, this determines if the customer has the need for your product and is asked in the order of NATB What is a Cold Email? Part of your outreach cadence. These allow you to get in front of very important and hard-to-reach people that you would have a hard time getting a message through with another method. What is the Cold Email Formula? Intro (Address Them) > Reason > Value Prop (Solution to their problem, challenge, or difficulty and why they care) > Ask (What you want, meeting or introduction) > Closing (Sign off) What is a SQL? A prospect who is qualified to buy your product or service What is an account? The records of all the information associated with a prospective or current customer What is a Champion? Someone who salespeople love What does CAC stand for? Customer Acquisition Cost What is the difference between a prospect and a lead? Both describe a potential customer and have intertwined meanings that only differ based on who you're talking to What is an Influencer? Someone who influences the decision of a purchase Admit you're wrong When trying to convince someone of something you should... try to push hard for an agreement where they must start telling you "No" since it brings all the objections to the surface get them to agree to small things by telling you "Yes" since it gets them in the mode of saying yes and agreeing Get them to agree to small things by telling you "Yes" since it gets them in the mode of saying yes and agreeing. What do people prefer more? Listening to others talk Having others listen to them talk Having other listen to them talk What ideas do people like more? Ideas they feel they came up with themselves Ideas others came up with and are telling them about Ideas they feel they came up with themselves What's the best way to see things from the other person's point of view? Think about your experiences and compare that to theirs Put yourself in their shoes and think how you would feel or react if you went through the same experiences Ask yourself why that person thinks the way they do Don't even try to see their point of view if they're wrong Put yourselves in their shoes and think how they would feel or react if you went through the same experiences Why is it important to see things from the other person's point of view? So you can tell them why their wrong So you can help them understand that their point of view doesn't matter So you can sympathize with their point of view before helping them understand your point of view So you can use logic and reasoning to break apart their point of view So you can sympathize with their point of view before helping them understand your point of view Why do people do well under competition? They are afraid of losing and being fired They want to learn from the other people who are better than them They have a desire to show the other person they aren't that good They have a desire to excel and feel important They have a desire to excel and feel important Before telling someone about their shortcomings you should tell them facts that would prove what you're going to say is true talk about how they can improve their shortcomings tell them how much you appreciate their work and how you also have shortcomings talk about how bad they are at their work, so their shortcomings don't seem as bad in comparison Tell them how much you appreciate their work and how you also have shortcomings Instead of giving direct orders you should Use body language to show what you want Make suggestions by asking questions Tell one of their friends or co-workers to tell them the order Actually you should be very direct and assertive when giving orders Make suggestions by asking questions There's never too much sincere criticism shame confidence praise Praise When trying to make someone want to do something you should tell them how much you want them to do it be very direct where there is no room for them to question your authority tell them how important what they're doing is and how they'll benefit tell them the consequences if they don't do it Tell them how important what they're doing is and how you'll benefit What's the #1 reason for failure in sales? Lack of closing skills Lack of prospecting Inferior product Subpar presentation skills Lack of prospecting Is cold calling necessary? No, companies generate enough leads through marketing No, cold calling is outdated because prospects can do their own research on the internet Yes, most companies don't have enough leads to keep their salespeople busy and the best prospects are used to having salespeople go to them Yes, salespeople need more practice talking to prospects that don't matter Yes, most companies don't have enough leads to keep their salespeople busy and the best prospects are used to having salespeople go through to them The main reason salespeople are afraid of cold calling is because they don't know their product well enough the prospect doesn't know who they are they think they'll be rejected they don't want to interrupt prospects They don't want to interrupt prospects What's the best prospecting technique? Cold call Email Social A balance of many different techniques A balance of many different techniques What's the most important daily imperative of a successful salesperson? Improving your prospecting techniques Learning more about your product Keeping a pipeline full of qualified prospects Researching new accounts Keeping a pipeline full of qualified prospects What is the formula for predicting sales? Efficiency + Performance = Effectiveness Efficiency + Effectiveness = Performance Effectiveness + Performance = Efficiency Efficiency + Effectiveness = Performance What is a value proposition? A clear statement of the tangible results a customer gets from using your products or services. A quick statement about the success of your company. An intelligent question to figure out if they have a need for your products or services. A concise statement about the history of your company A clear statement of the tangible results a customer gets from using your products or services. What's the main difference between a targeted bridge and a strategic bridge? Strategic bridges use common industry vertical Strategic bridges use common products or service applications Strategic bridges use information custom to each prospect Strategic bridges use common decision-maker roles Strategic bridges use information custom to each prospect If you could only choose one prospecting method which would be best? Phone Email Social In-person Phone What's the correct order for the cold-calling framework? Identify-Attention-What you want-Bridge-Ask What you want-Attention-Identify-Ask-Bridge Bridge-Identify-Attention-What you want-Ask Attention-Identify-What you want-Bridge-Ask Attention-Identify-What you want-Bridge-Ask What shouldn't you say on a cold call? The reason for my call is How are you doing? Hi, (first name) Because How are you doing? What's the correct order for the voice-mail framework? Identify-Phone number twice-Reason for call-Reason to call back-Phone number twice Reason for call-Phone number twice-Identify-Reason to call back-Phone number twice Identify-Reason for call-Phone number twice-Reason to call back-Phone number twice Phone number twice-Reason for call-Identify-Phone number twice-Reason to call back Identify-Phone number twice-Reason for call-Reason to call back-Phone number twice Should you time your calls based on the best answer rate of your prospects? Yes No No What's the correct order for the RBO framework? Disrupt-Anchor-Ask Anchor-Disrupt-Ask Ask-Disrupt-Anchor Disrupt-Ask-Anchor Anchor-Disrupt-Ask What is the gatekeeper's most important job? Remember who everyone is at their company Protect their people's time Help salespeople get in touch with right people Schedule meetings for their executives Protect their people's time What's the secret to get past gatekeepers? Convince them you already have a meeting with someone Offer them some money through cash app/venmo There is no secret technique Lie to them about who you are There is no secret technique Can inside sales reps, such as SDR's, use in person prospecting? Yes No No What should you avoid including in a prospecting email? Images Hyperlinks Spammy words and phrases All of the above All of the above The best emails include Long important sounding pitches with lots of industry jargon History of your company How you can solve a relevant problem they have All of the above How you can solve a relevant problem they have What's the correct order for the email framework? Relate-Hook-Bridge-Ask Hook-Relate-Bridge-Ask Bridge-Relate-Hook-Ask Ask-Relate-Bridge-Hook Hook-Relate-Bridge-Ask What's the most important factor when texting prospects? Your value proposition Your ask Your familiarity Your compliments Your familiarity What should you do when texting? Identify yourself Be direct Avoid abbreviations All of the above All of the above What are the 4 pillars of mental toughness? Desire, Competitiveness, Optimism, Mental Resilience Desire, Mental Resilience, Outlearn=Outearn, Physical Resilience Grit, Self-Confidence, Attitude Control, Attention Control Grit, Desire, Mental Resilience, Physical Resilience Desire, Mental Resilience, Outlearn=Outearn, Physical Resilience No Do more sophisticated buyers react well to closing techniques? Yes No No Is it a failure if you don't get an order during your meeting for a large sale? Yes No No What are the successful outcomes in a large sale? Order or Continuation Order or Advance Order, Advance, or Continuation Continuation or Advance Order or Advance What's the most common objective in a large sale? Continuation Advance Order No-sale Advance What are successful actions of a sales meeting? Investigating and demonstrating capability Checking that key concerns are covered Proposing a commitment All of the above All of the above What's SPIN selling's definition of a need? An objective requirement a project has Any statement made by the buyer which expresses a want or concern that can be satisfied by the seller A statement made by the buyer which expresses a strong emotional desire to purchase a product or service A functional requirement necessary for a business Any statement made by the buyer which expresses a want or concern that can be satisfied by the seller How are explicit needs different from implied needs? Explicit needs are needs that are worth more money Explicit needs are needs that multiple people have Explicit needs are strong wants or desires Explicit needs are dissatisfactions with current solution Explicit needs are strong wants or desires Which type of sale do implied needs work the best for? Small Large Small Which type of need works best for large, complex sales? Implied Explicit Explicit What's the purpose of questions in a large sale? To figure out explicit needs To figure out implied needs To uncover implied needs and develop them into explicit needs To uncover explicit needs and develop them into implied needs To uncover implied needs and develop them into explicit needs Which type of question is the least related to a successful sales call? Situation Questions Problem Questions Implication Questions Need-Payoff Questions Situation Questions What's the purpose of problem questions? To get them to state the benefits of solving their problems To uncover implied needs To learn how problems affect their business To uncover the biggest problems in their organization To uncover implied needs What's the purpose of implication questions? To uncover some of the problems your prospect is having in relation to your solution To get them to state the benefits of solving their problems To take a problem that the buyer perceives to be small and build it up into a large enough problem to justify action To learn about their authority to take action To take a problem that the buyer perceives to be small and build it up into a large enough problem to justify action Which questions do decision-makers respond best to? Implication Questions Situation Questions Problem Questions Need-Payoff Questions Implication Questions Should you always use the SPIN model in sequence? Yes, SPIN is a formula that always works and should always be used in order No, SPIN is a formula that normally works, but should be altered based on different situations No, SPIN is a formula that normally works, but should be altered based on different situations Should you plan your questions in advance? Yes, it's hard for good questions to spring up in your mind when your talking No, you don't want to sound like you're reading from a script and come off as ingenuine Yes, it's hard for good questions to spring up in your mind when your talking When shouldn't you use need-payoff questions? Towards the end of the call Early in the call When the customer raises a need you can't meet Both early in the call and when the customer raises a need you can't meet Both early in the call and when the customer raises a need you can't meet What's the definition of a feature? They get the prospect to agree that you should ask questions They teach the customer about how valuable your solution is They get the prospect to ask you questions They get the prospect to agree that you should ask questions Can you please describe what SPIN selling is and how you would use it? SPIN selling is a sales methodology where reps organize sales calls using a question framework that touches on four categories: situation, problem, implication, and need-payoff. I would use it during the investigation stage and help figure out the customers needs and build up value around my product or service. What do you think sets the best SDRs apart from the average ones and why? Having great relationships with your AE's as well as, having constant and consistent pipeline of prospects for your AE's. In detail, please describe the main differences between sales cadence and a sales cycle. Sales cycle: a set of specific actions salespeople follow from start to finish to close a new customer. Sales cadence: the sequence of outbound sales activities a salesperson makes when attempting to contact a prospect to move them through the pipeline. Please list the main CRMs on the market, sales engagement platforms on the market, and sales data platforms in categories. CRMs - Salesforce, Hubspot SEPs - Hubspot Sales, SalesLoft SDPs - Apollo, ZoomInfo, LinkedIn Sales Navigator Why do you want to work in sales development and how do you think your background will set you up for success? This is a voice question and take time to think through and have a clean response. Please describe your biggest takeaway from How to Win Friends and Influence People and how it relates to being successful as an SDR. My biggest takeaway from How to Win Friends and Influence People was that, it really helped with giving identity to the sales process. By becoming more of a friendlier person and bringing familiarity instead of typical sales recruiting helps understand the process better. I'll be able to relate and bring my influence over prospects to pull them into more customers. Please describe what an organization structure is, how it's used as an SDR, and all of the titles in order from the very top to the very bottom of a large org structure. An organization structure is a structure that helps with identifying higher lead roles in the process of reaching out to the right person for making a sale. Board of trustees, C-suite, VPs, Directors, Managers, Individual contributors Please describe what you think the job of a sales development rep entails from start to finish? This is the first three sections of the sales process, so it will be Research > Outreach > Discovery. What is a sales data platform used for? Sales Data Platforms are used to get company and contact info. Account Record of all customer interactions, including contact information, preferred services, and transactions with your business. An account is created after the first time a customer buys from your busines Account Executive/AE/Closer A sales team member in charge of closing deals by converting qualified leads into paying customers. Brainpower Read More Account Manager/AM/Farmer Manage and up-selling existing clients and accounts. Annual Recurring Revenue(ARR) or Renewal Amount of money a customer pays you every year on a subscription model. Annual Contract Value(ACV) Average annualized revenue per customer contract. Usually compared against customer lifetime value to see how long it takes to pay back the cost of acquiring a customer. Account-Based Selling Strategy where the entire company coordinates to pursue high-value accounts. Sales, marketing, and customer success depts are most typically involved Business Development Representative Also known as a Sales Development Representative (SDR). A sales specialist focused on finding new prospects, establishing foundational relationships, and updating the sales pipeline with new leads. Business to Business(B2B) Selling business to business. Business to Consumer(B2C) Selling business to consumer. Business Unit A group of people representing a specific department or product within a company such as accounting or manufacturing. Buyer Persona A representation of the ideal customer for your business. Companies create buyer personas based on market research and data about existing customers. Important for marketers for creating a target audience and for sales representatives qualifying leads. Buying Signal A verbal or nonverbal cue that shows a customer is ready to buy, such as signing up for a free trial, asking about contract specifics. C-Level / C-Suite - Highest level executives; C stands for Cheif - like Chief Executive Officer (CEO). Champion A prospect within a company that wants to purchase your product or service and is willing to do everything they can to help convince the others in the company to make the purchase. Channel Partner A person or company that offers services or products on behalf of another company. Channel Sales Focusing on different sales channels, such as an in-house sales team, retailers, referrals, dealers etc. Churn The percentage of clients that leave or stop using your services or products within a certain time period. Clients Closed opportunities, paying clients and people that your account managers should take care of. Closers or Account Exectutives Focused on closing deals and they only prospect a small number of strategic accounts. Closing Ratio NUMBER OF DEALS CLOSED compared to the number of ENGAGED PROSPECTS. This ratio can be used to evaluate the performance of an individual sales rep and forecast sales Cold calL Attempt to engage with a prospect (that you don't yet have a relationship established) on a call. Customer Acquisition Cost (CAC) A ratio of profitability that reveals how much money a company actually makes. It is the amount by which revenue from sales exceeds costs. To calculate this, divide your gross profit (revenue-cost of goods sold) by revenue. Prospects A list of names and contact information in some type of list, database or CRM. Referral Method of generating new sales leads, where someone refers a potential client to you. Return on Investment (ROI) Shows the effectiveness of the initial investment. It is a ratio between net profit and the cost of investment. Revenue The amount of money one business generates in the specific time period (a year, a quarter...) SaaS Acronym for Software as a Service. Sales Acceleration Speeding up the sales process using different tools and technologies to boost productivity and efficiency. Sales Automation Automated sales workflow using a software or an online too to help simplify, speed up and streamline the sales process. Sales Cadence A determined sequence of sales activities and the frequency at which the sales team interacts with leads. Sales Cycle Predictable sequences and stages that a company goes through as they sell their product or service. Sales Demo An event that serves as a showcase of the product or service that the company is selling. Sales Development Representative(SDR) Sales rep that is focused on prospecting and finding new sales opportunities. Sales Enablement Providing sales professionals with necessary tools, technology, training, and other resources in order for them to have better performance at customer engagement. Sales Funnel A visual representation of sales processes with defined stages, that every PNC goes through as they are let towards a final decision - buying a product or service. Sales Pipeline A visual representation of a sales process and stages of each individual prospect. Sales Prospecting A process of finding and identifying new prospective clients using different outbound methods - cold email, social selling, advertising etc. Sales Qualified Lead (SQL) A potential client that already met all the necessary criteria, and is forwarded to Account Executive to close the deal. Scraping Data Extraction of large amounts of data from websites. Segmentation A process of dividing a large market or a contact list into smaller segments based on different criteria - location, company size, revenue etc. Social Selling A sales tactic that involves using social media as a sales channel. SDRs engage and create relationships with prospectsd by probing their needs and providing relevant and valuable insight. Top of the Funnel A term that refers to the top of the sales or marketing funnel, where all prospects go through a qualification process, both from inbound and outbound efforts. Unique Selling Point/Proposition Unique features of a business that sets it apart from the competitors. Vertical A specific segment of the market where a business targets only a specific industry, sector or niche.