Mastering the Art of Complex Sales: Strategies for Success, Exams of Sales Management

Download Mastering the Art of Complex Sales: Strategies for Success and more Exams Sales Management in PDF only on Docsity! Course Careers - Sales Technology Final Exam (100 out of 100) Latest Update (GRADED A) 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 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 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 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 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 We have an expert-written solution to this problem! 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 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 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 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