Final Exam Study

Question 1

Characteristics of “Enterprise” Selling are

Answer 1

Large budgets, high sales prices, longer sales cycles, large team environments, heavy relationship management, heavy intra company collaboration, often customized solutions, unique but highly leveraged

Question 2

Sales Data Analysis/Analytics
- Territory Planning
- CRM Management
- Win/Loss Analysis

Answer 2

Sales Operations Analyst

Question 3

“Warming” Leads for Sales Reps
- Call Campaigns
- Pipeline Development
- Vetting Inbound Leads

Answer 3

Business Development Rep (BDR) or Sales Development Rep (SDR)

Question 4

Customer Advocate (for Renewal Purposes - Not Support)
- Assuring Customer Usage
- Create Customer “Health” Score

Answer 4

Customer Success Manager

Question 5

Product or Industry “Expert”
- Demo Products
- Collaborate with Customer on Best Practices

Answer 5

Technical Sales Rep or Solutions Engineer (SE)

Question 6

Existing Customer Relationship Management
- Upsell/Cross-sell
- Often, renewals

Answer 6

Account Manager (AM)

Question 7

New Logo Relationship Management
- “Hunters
- Finding/Closing New Accounts

Answer 7

Account Executive (AE)

Question 8

Relationship Management of Complex, Highly Visible, Partners/Customers
- Complex Revenue Arrangements
- Manages “Co-opetition”

Answer 8

Chanel Manager or Strategic Relationship Manager

Question 9

What are the 3 components to the Sales Role graph?

Answer 9

Aggressiveness (Y axis), Income (X axis), Variable Income (Color)

Question 10

Which sales role has the highest income and highest aggressiveness?

Answer 10

Account Executive

Question 11

Which sales role has the second highest income and the second highest aggressiveness?

Answer 11

Channel Manager or Strategic Relationships Manager

Question 12

Which sales role has the third highest income and the third highest aggressiveness?

Answer 12

Account Manager

Question 13

Which sales role has the lowest income and the lowest aggressiveness?

Answer 13

Sales Operations Analyst

Question 14

Which 2 sales roles have the highest variable income?

Answer 14

Account Executive (AE) and Account Manager (AM)

Question 15

Which sales role has a medium variable income?

Answer 15

Channel Manager or Strategic Relationships Manager

Question 16

Which 2 sales roles have a low variable income?

Answer 16

Sales Development Rep (SDR) or BDR and Solutions Engineer or Technical Sale Rep

Question 17

Which 2 sales roles have no variable income?

Answer 17

Sales Operations Analyst and Customer Success Manager (CSM)

Question 18

What does “OTE” stand for?

Answer 18

On Target Earnings

Question 19

This type of Sale Team Organization is ideal for multiple unique product offerings or when emphasizing territory and product effectiveness over cost of sales

Answer 19

Region or Customer Type

Question 20

This type of Sales Team Organization is ideal when product or territory differences are not profound, or the emphasis is on cost of sales

Answer 20

Functional Role

Question 21

What are the 3 things for making team collaboration work?

Answer 21

Strategic plan, Role clarity, Hyper communications

Question 22

New logo business is sold

Answer 22

Account Executive

Question 23

Existing account upsell

Answer 23

Account Manager, Customer Success Manager

Question 24

Existing account renewal

Answer 24

Account Manager, Customer Success Manager

Question 25

Key Incentives are: quarterly bonuses, social pressure

Answer 25

Laggards

Question 26

Key Incentives are: multi-tier targets, sales contests with prizes that vary in nature and value

Answer 26

Core Performers

Question 27

Key Incentives are: o caps on pay, overachievement commission rates

Answer 27

Stars

Question 28

Common Law of Business Balance

Answer 28

Good. Cheap. Fast

Question 29

What is 3-2-1

Answer 29

3 Influencers, 2 Champions, 1 Economic Buyer

Question 30

More tactical value prop - features and functions

Answer 30

Influencers

Question 31

More strategic - they probably see a career move based upon this decision

Answer 31

Champions

Question 32

Major gatekeeper, unemotional, has significant experience, there to ask hard questions. Career is set, more interested in avoiding mistakes or embarrassments

Answer 32

Economic Buyer

Question 33

Identification or customer issue

Answer 33

Marketing Qualified Lead (MQL)

Question 34

Confirm interest in our company as a solution to the issue

Answer 34

Sales Accepted Lead (SAL)

Question 35

Initial discovery via preliminary questioning

Answer 35

Connect

Question 36

Detailed plan for rapidly penetrating account

Answer 36

Create

Question 37

Present Mutual Action Plan; POC complete

Answer 37

Collaborate

Question 38

Verbal win supported by budget approval

Answer 38

Confirm

Question 39

Legal and finance review of the deal terms

Answer 39

Close - Pending

Question 40

Contract signed by client

Answer 40

Close - Won

Question 41

What drives the amount of pipeline you must obtain to deliver a quota?

Answer 41

Win rate

Question 42

What determines viability of pulling in deals to current period?

Answer 42

Sales cycle time

Question 43

What determines what you can count in your forecast for the period?

Answer 43

Sales stage

Question 44

Forecasting what will close in a period typically only counts the final stages of sale cycle. What are the 3 final stages? (PNC)

Answer 44

Proposal, Negotiate, Contract/Legal

Question 45

CAPS stands for

Answer 45

Customer and Prospect Scoring

Question 46

HQ, # of locations, revenue, # of employees, # of customers, structure, performance, etc. are examples of what kind of data

Answer 46

Firmographic Data

Question 47

Customers served, presence of certain job titles, purchasing approach, sensitivity to sales effort, prior purchasing experience, price sensitive, etc. are examples of what kind of data

Answer 47

Other Relevant Data

Question 48

Understanding customer needs so that you can present the best solution is

Answer 48

Solutions Selling

Question 49

Going beyond pitching just a solution, doing additional research to educate customers, establish credibility, and be a trusted advisor is

Answer 49

Insight Selling

Question 50

Explaining to customers problems/issues that they are not currently focused on - works best in economic downturns is

Answer 50

Provocation Selling

Question 51

A set of steps which are proven to result in best outcome for generating a meeting. Usually created by your Sales Ops team

Answer 51

Cadence