Course Careers - Sales Technology Final Exam Study Set (100 out of 100) Questions and Veri, Exams of Project Management

Download Course Careers - Sales Technology Final Exam Study Set (100 out of 100) Questions and Veri and more Exams Project Management in PDF only on Docsity! Course Careers - Sales Technology Final Exam Study Set (100 out of 100) Questions and Verified Answers 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? Finding relevant ways to personalize outreach 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 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 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 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? 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 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 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? 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