Exam (elaborations)
Course Careers Sales Development Terms Exam Questions and Answers
- Course
- Institution
Course Careers Sales Development Terms Exam Questions and Answers
[Show more]
Content preview
Course Careers: Sales DevelopmentTerms Exam Questions and Answers
Account - Answer -An account contains all the records of customer interactions,
including contact information, preferred services, and transactions with your business.
An account is created after the first time a customer buys from your business.
Account Executive/AE aka Closer - Answer -A sales team member in charge of closing
deals by converting qualified leads into paying customers.
Account Manager/AM aka Farmer - Answer -A sales team member in charge of
managing and up-selling existing clients and accounts.
Annual Recurring Revenue aka ARR - Answer -The amount of money a customer pays
you every year on a subscription model.
Annual Contract Value aka ACV - Answer -The annual contract value is the average
annualized revenue per customer contract. ACV is usually compared against customer
lifetime value aka CLV/LTV to see how long it takes to pay back the cost of acquiring a
customer.
Account-Based Selling - Answer -Account-based selling is a strategy where the entire
company coordinates to pursue high-value accounts. The departments that are most
typically involved in account-based selling are sales, marketing, and customer success.
Business Development Representative aka BDR - Answer -Also known as a Sales
Development Representative or SDR. This representative is a sales specialist focused
on finding new prospects, establishing foundational relationships, and updating the
sales pipeline with new leads
Business to Business aka B2B - Answer -Selling business to business
Business to Consumer aka B2C - Answer -Selling business to consumer.
Business Unit - Answer -A group of people representing a specific department or
product within a company such as accounting or manufacturing.
, Buyer Persona - Answer -A buyer persona is a representation of the ideal customer for
your business. Companies create buyer personas based on market research and data
about existing customers.
Buying Signal - Answer -A buying signal is a verbal or nonverbal cues that show a
customer is ready to make a purchase, such as signing up for a free trial or asking
about contract specifics. Picking up on these signals can help sales reps better focus
their attention on customers that are giving off more buying signals.
C-Level / C-Suite - Answer -Highest level executives; C stands for Cheif - like Chief
Executive Officer aka CEO
Champion - Answer -A prospect within a company that wants to purchase your product
or service and is willing to do everything they can to help convince the others in the
company to make the purchase.
Channel Partner - Answer -A person or company that offers services or products on
behalf of another company.
Channel Sales - Answer -Focusing on different sales channels, such as an in-house
sales team, retailers, referrals, dealers etc.
Churn - Answer -The percentage of clients that leave or stop using your services or
products within a certain time period.
Closing Ratio - Answer -A closing ratio is the number of deals closed compared to the
number of engaged prospects. This ratio can be used to evaluate the performance of an
individual sales rep and forecast sales
Clients - Answer -Closed opportunities, paying clients and people that your account
managers should take care of.
Closers aka Account Executives or aka AE - Answer -Closers Or Account Executives,
they are focused on closing deals and they only prospect a small number of strategic
accounts.
Cold Call - Answer -Attempt to engage with a prospect that you don't yet have a
relationship established with on a call.
Cold Email - Answer -Attempt to engage with prospects via email; sending a sales
proposal to someone that you don't yet have a relationship with.
Customer Acquisition Cost aka CAC - Answer -The cost of acquiring new paying clients.
Customer Lifetime Value aka CLV - Answer -Also known as lifetime value or LTV. The
total lifetime value of one client in terms of the revenue they'll bring before they churn.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73091 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now