Mastering the Art of Prospecting and Sales Techniques, Exams of Advanced Education

Download Mastering the Art of Prospecting and Sales Techniques and more Exams Advanced Education in PDF only on Docsity! Course Careers Study Guide with correct Answers What's a Champion? - Answer -Someone who salespeople love. How should you open a discovery call? - Answer -Set the expectations for the call What's the best definition for a sales cadence? - Answer -A cadence is the sequence of activities you perform in order to make contact with a prospect What should you avoid using in a prospecting email? - Answer -Images, Bullet Points, Attachments A sentence is generally incomplete when - Answer -It lacks a subject and a verb Definition of an ICP? - Answer -It's the fictitious company persona of your ideal customer Which of the following capitalization rules is incorrect? - Answer -Capitalize pronouns, such as Her and Him. What are the two types of needs talked about in the book SPIN Selling and what is the difference between the two? - Answer -Implied Needs-are problems and frustrations expressed by the customer —for instance, "I'm not happy with the quality our press is producing," or "Our system creates too much waste." Explicit Needs-Explicit needs are strong wants or desires "We need a more efficient system," or "We have to cut our procurement costs." Please describe what a sales cycle is along with all of the different stages of a sales cycle in order based on - Answer -A sales Cycle is a set of specific actions salespeople follow from start to finish to close a new customer. It often includes multiple stages such as 'prospect, connect'' research' 'present' and close. What factor(s) make a major sale different from a small sale? - Answer -Only the length of the sales cycle and size of customer commitment and their risk What does BANT stand for and what part of the sales cycle is it used? - Answer - Budget, Authority, Need, Time (LEAD QUALIFICATION) What is BANT ? - Answer -budget, authority, need, time What is Organizational structure? - Answer -An organizational Structure is a system that outlines how certain activities are directed in order to achieve the goals of an organization. These activities can include rules, roles and responsibilities. What is an Ideal Customer (ICP)? - Answer -Aka, ideal company profile or target market. What is a buyer persona? - Answer -is a semi - fictional, generalized representation of your customers that accounts for the demographic, goals, motivators , and challenges they are facing. Aka , stake holder or contacts What is a C-Level executive? - Answer -The highest level of executives who run the operations of a company. (CHIEF) What's Churn? - Answer -Customers who were on a subscription and stopped using/paying for it. What's CAC stand for? - Answer -Customer Acquisition Cost What's a GateKeeper? - Answer -Someone who is in charge of deciding who talks to the executives. What's a SQL? - Answer -A prospect who is qualified to buy your product or service. ( SALES QUALIFIED LEAD ) What's an Influencer? - Answer -Someone who influences the decision of a purchase. What is a Sales Cycle? - Answer -A sales cycle is a set of specific salespeople follow from start to finish to close a new customer. It often includes multiple stages such as " prospect , 'connect' research ' present' and 'close'. Sales Cycle /Sales Funnel - Answer -Research, Outreach, Discovery, Present, Follow Up, Close What is A Sales Cadence ? - Answer -Aka Sales Sequence - is the sequence of outbound sales activities a salesperson makes when attempting to make contact with a prospect to move them through the pipeline. Questions on "How to Win Friends & Influence People " on SPIN: Chapters 1-2 What are successful actions of a sales meeting? - Answer -Investigating and demonstrating capability Checking that key concerns are covered Proposing a commitment on SPIN: Chapters 3-5 What's SPIN selling's definition of a need? - Answer -Any statement made by the buyer which expresses a want or concern that can be satisfied by the seller on SPIN: Chapters 3-5 How are explicit needs different from implied needs? - Answer -Explicit needs are strong wants or desires on SPIN: Chapters 3-5 Which type of sale do implied needs work the best for? - Answer -Small on SPIN: Chapters 3-5 Which type of need works best for large, complex sales? - Answer -Explicit on SPIN: Chapters 3-5 What's the purpose of questions in a large sale? - Answer -To uncover implied needs and develop them into explicit needs on SPIN: Chapters 3-5 Which type of question is the least related to a successful sales call? - Answer - Situation Questions on SPIN: Chapters 3-5 What's the purpose of problem questions? - Answer -To uncover implied needs on SPIN: Chapters 3-5 What's the purpose of implication questions? - Answer -To take a problem that the buyer perceives to be small and build it up into a large enough problem to justify action on SPIN: Chapters 3-5 Which questions do decision-makers respond best to? - Answer -Implication Questions on SPIN: Chapters 3-5 Should you always use the SPIN model in sequence? - Answer -No, SPIN is a formula that normally works, but should be altered based on different situations on SPIN: Chapters 3-5 Should you plan your questions in advance? - Answer -Yes, it's hard for good questions to spring up in your mind when your talking on SPIN: Chapters 3-5 When shouldn't you use need-payoff questions? - Answer -Both early in the call and when the customer raises a need you can't meet on SPIN: Chapters 3-5 What's the definition of a feature? - Answer -Fact or characteristic of a product or service on SPIN: Chapters 3-5 What's the definition of an advantage? - Answer -Show how a product or service can be used or can help the customer on SPIN: Chapters 3-5 What's the definition of a benefit? - Answer -Show how a product or service meets an explicit need expressed by the customer on SPIN: Chapters 3-5 What is this? Seller: And another thing about the system is that it has balanced voltage stabilization. Buyer: Oh, what does that do? - Answer -Feature on SPIN: Chapters 3-5 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 - Answer -Advantage on SPIN: Chapters 3-5 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? - Answer -Advantage on SPIN: Chapters 3-5 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. - Answer -Feature on SPIN: Chapters 6-8 Do more objections result in more sales? - Answer -No, they indicate dissatisfactions with the buyer on SPIN: Chapters 6-8 What's the root cause of most objections? - Answer -Not enough perceived value on SPIN: Chapters 6-8 Are first impressions a large factor with success in large sales? - Answer -No, there are still many other parts of your sales interaction that are much more important on SPIN: Chapters 6-8 Is personal loyalty a large factor for doing business in large sales? - Answer -No, businesses care much more about the value of solutions than they do about personal loyalty to sales people. on SPIN: Chapters 6-8 What's the common factor of most good call openings? - Answer -They get the prospect to agree that you should ask questions What is Sales Engagement? - Answer -Sales engagement refers to the interactions and exchanges that occur between sales reps and their customers. It's the touchpoints that get your foot in the door, keep the conversation flowing, and ultimately lead to a sale. Sales engagement encompasses how you communicate at what frequency, and the substance of your interactions What is Prospecting? - Answer -the first step in the sales process that consists of any activities used to identify potential customers on Fanatical: Chapter 1-6 What's the #1 reason for failure in sales? - Answer -Lack of prospecting on Fanatical: Chapter 1-6 Is cold calling necessary? - Answer -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 on Fanatical: Chapter 1-6 What's the best prospecting technique? - Answer -A balance of many different techniques Cold Call, Email, Social on Fanatical: Chapter 1-6 What's the most important daily imperative of a successful salesperson? - Answer - Keeping a pipeline full of qualified prospects on Fanatical: Chapter 1-6 What is the formula for predicting sales? - Answer -Efficiency + Effectiveness = Performance on Fanatical: Chapters 7-13 When is spending time doing research in advance to calling a good idea? - Answer - When you're calling C-level prospects selling a high-value product/service