QUESTIONS CORRECT ANSWERS GRADED A+
◉ What is the Sales Process (Sales Cycle)? Answer: A set of Specific
actions you follow from start to finish to close a new customer.
◉ What are the stages of the Sales Cycle?` Answer: Research >
Outreach > Discovery > Present > Follow Up > Close
◉ What is a Sales Funnel? Answer: 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? Answer: 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) Answer: 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) Answer: 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? Answer: Building
company lists based on your Ideal Customer Profile (ICP)
◉ What is Step 2 in the Research Process? Answer: Building contact
lists based on buyer persona
◉ What is Step 3 in the Research Process? Answer: Find contact info
for each contact
,◉ What is Step 3 in the Research Process? Answer: Finding relevant
ways to personalize outreach
◉ What is the Cold Calling formula? Answer: Intro > Reason >
Qualify > Ask
◉ What are the four stages of Discovery Call? Answer: Preliminaries,
Investigating, Demonstrating Capabilities, Obtaining Commitment
◉ What is SPIN? Answer: 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? Answer: Situation,
Problem, Implication, Need-payoff
◉ What does the S in SPIN stand for? Answer: Situation - Questions
focus on gathering facts and background
◉ What does the P in SPIN stand for? Answer: 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? Answer: 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? Answer: 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?
Answer: The Investigation stage
◉ What is BANT? Answer: 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? Answer: Budget,
Authority, Need (Using SPIN), Timeline.
◉ What is the most important part of BANT and why should you
always start with it? Answer: Need, this determines if the customer
has the need for your product and is asked in the order of NATB