Deck 9: Sales

Question 1

How frequently is it advised that you follow up with each of your customers?

A) Daily
B) Weekly
C) Twice per year
D) At a minimum of every 30 days

Answer 1

D

Question 2

It is 50 percent easier to sell to existing customers than brand new customers.

Answer 2

True

Question 3

If a prospective client has an objection based on pricing, the best way to overcome this objection is to:

A) Offer the prospect discounts to gain their business
B) Show the prospect the value and benefits of what you're selling
C) Promise the prospect that you will beat the competitors' price
D) Convince the prospect that your product is superior to the competitors, thus explaining the higher price

Answer 3

B

Question 4

At the top level of the prospecting funnel are the:

A) Prospects
B) Suspects
C) Concepts
D) Subjects

Question 5

According to infographics from Clarity.fm, which of the following is cited as the number one startup struggle for entrepreneurs?

A) Credit terms
B) Lost sales
C) Delinquent customers
D) Unstable business conditions

Question 6

When entering a meeting where you are presenting your product to a decision maker, it is best to:

A) Do all the talking, take control of the meeting.
B) Sit beside the decision maker, never stand.
C) Never sit during the meeting, it is important to stand at the front of the room the entire time, even if there is only one other person present for the meeting.
D) Sit across the table from the decision maker, and stand in a visible position when you are presenting.

Question 7

All of the following are listed in the Canadian Professional Sales Association's "9 Account Management Mistakes", except:

A) The buyer feels sold
B) Not enough follow-up
C) The customer feels misunderstood
D) Letting competitors outdo you

Question 8

The marketplace is the first Stage in the prospecting funnel.

Question 9

How should you deal with a prospective client for whom pricing is an issue?

A) Deal with this by offering the client a lower price immediately.
B) Deal with this by degrading the competitor's offering.
C) Deal with this by asking the client if the offering was identical to yours and offer to go over their proposal with them to ensure they are comparing apples to apples.
D) Deal with this by offering enhanced services and extending warranties beyond what the competitor is offering.

Question 10

Which of the following is appreciated by customers who are having difficulty making a decision?

A) Ask them questions
B) Push them towards your own personal preferences
C) Take away options
D) Make the decision for them

Question 11

When preparing a sales presentation, it is important to do all of the following, except:

A) Write down your objectives
B) Develop a schedule for completion of your presentation
C) Find out as much information as you can about the person who will be making the business decision
D) Arm yourself with information that will discredit the competition and begin your presentation with those facts

Question 12

___% of your company's future revenue will come from ____% of your existing customers.

A) 90; 10
B) 80; 20
C) 70; 30
D) 60; 40

Question 13

75 percent of businesses had only 2 attempts to contact a potential lead before the rep gave up.

Question 14

All of the following should be covered in your sales presentation, except:

A) Provide a sample of your product to the client.
B) Poise your questions in a way that the customer will have to respond with other than a yes-or-no answer.
C) Be prepared by knowing your product/service inside and out.
D) Delay providing answers to questions so that you can schedule a follow-up meeting.

Question 15

Which of the following is not included in the "five must-haves" for startup salespeople?

A) The ability to multi-task.
B) Being a "lone wolf".
C) Good listening skills.
D) Being a team player.

Question 16

Research shows that it costs as much as ___ times more to find a new customer than it does to keep an existing one.

A) 5
B) 10
C) 15
D) 25

Question 17

Most customers appreciate all of the following, except:

A) Being greeted by their name
B) Being ignored
C) Being listened to
D) Transparency

Question 18

Receptionists or administrative assistants who are taught to protect their bosses and screen their calls are sometimes referred to as:

A) Prospects
B) Hot ones
C) Gate keepers
D) Net minders

Question 19

Those accounts that have a verified need in your products and/or services are called:

A) Subject accounts
B) Verified accounts
C) Concrete accounts
D) Prospect accounts

Question 20

If a prospective client will not make a decision on the spot, claiming that they need to get approval from others, it is best to:

A) Push harder until you secure the sale.
B) Offer more incentives, such as a discount or other form of financial benefits to secure the immediate transaction.
C) Accept their response, but stay in touch and follow up with them.
D) Go directly to the person from whom they need approval and secure the sale.

Question 21

Social media is rarely used for customer service reviews.

Question 22

You should never leave a sales presentation meeting without asking the prospective client when they will be making their decision.

Question 23

The first Stage of the prospecting funnel entails selecting a list of possible customers, called suspects or suspect accounts.

Question 24

Describe each of the four stages of the prospecting funnel.

Question 25

Salespeople need to have a willingness to accept recommendations and ideas from other people and, at the same time, be willing to bring their ideas and feedback to the table.

Question 26

The salesperson who pushes too hard, too early creates tension, and this can result in an unresponsive prospect or a reluctant buyer.

Question 27

Why is it important that start-up salespeople have good listening skills?

Question 28

If a prospective client is denying consideration of your business because they are satisfied with a current supplier, it is a lost cause-don't spend any more time trying to secure that business.

Question 29

If it takes longer than a couple of weeks for the decision to be made it is safe to assume the client is not interested.

Question 30

Once a presentation and initial meeting is complete, it is a good idea to follow up with a personal thank-you note to the decision maker.

Question 31

Most people are commitment-phobic. They are not going to make a decision until they are presented with options.

Question 32

If, during a sales presentation, you do not know the answer to a question, it is okay to tell them this and promise to get back to them with the information.

Question 33

Customer service is important, but not significant enough to differentiate you from your competitor.

Question 34

If a prospect is already working with a supplier and don't want to make a change, this can be difficult to overcome. One thing you might do is offer a free trial for them to evaluate your product.

Question 35

Why is it important that start-up salespeople be willing to work for a small, non-established company?

Question 36

When presenting your product/service to a potential client, you should do all the talking, take control of the meeting, and answer questions only at the end, once your presentation is complete.

Question 37

If a potential client objects to meeting with you because they are too busy, you should simply thank them for their time and move on to the next prospect.

Question 38

A customer relationship management database (or CRM) is absolutely vital to keep track of every conversation and every commitment you make to pursue next steps in sales.

Question 39

Why is it important that start-up salespeople have the ability to multi-task?

Question 40

You have a meeting and sales presentation planned with an important prospective client. Where is the ideal place to position yourself in the room? Why?

Question 41

Describe some of the "little things" that count in delivering exceptional customer service.

Question 42

Why is it important that start-up salespeople embrace the idea of being product developers?

Question 43

List the 9 Tips for Building Loyalty - and Commissions described by sales expert Colleen Francis.

Question 44

How does sales expert Colleen Francis suggest you reward loyalty?

Question 45

Why is it important that start-up salespeople be team players rather than lone wolves?