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Course Careers Final Exam Review Questions and Answers
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Course Careers Final Exam Review Questions and Answers
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Course Careers Final Exam ReviewQuestions and Answers
Account - Answer -contains all the records of customer interactions and is created after
the first time a customer buys from your business.
Account Executive (AE)/Closer - Answer -A sales team member in charge of closing
deals
Account Manager (AM)/Farmer - Answer -A sales team member in charge of up-selling
existing clients.
Annual Recurring Revenue (ARR) - Answer -The amount of money a customer pays
you every year on a subscription model.
Annual Contract Value (ACV) - Answer -The average annual revenue generated from
each customer's contract.
Account-Based Selling - Answer -A strategy where the entire company coordinates to
pursue high-value accounts.
Business Development Representative - Answer -A sales specialist focused on finding
new prospects and updating the pipeline.
Business to Business (B2B) - Answer -selling business to business.
Business to Consumer (B2C) - Answer -selling business to consumer.
Business Unit - Answer -A group of people representing a specific department or
product within a company.
Buyer Persona - Answer -A representation of the ideal customer for your business.
Buying signal - Answer -Verbal or nonverbal cues that show a customer is ready to
make a purchase.
C-level/C-Suite - Answer -Highest level executives.
,Champion - Answer -A prospect within a company that is willing to help convince others
in the company to make a 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 -Customers who were on a subscription and stopped using/paying for it
Closing Ratio - Answer -the number of deals closed compared to the number of
engaged prospects.
Clients - Answer -Closed opportunities, paying customers.
Closers - Answer -Account Executives focused on closing deals.
Cold Call - Answer -Calling a prospect to establish and build a relationship.
Cold Email - Answer -Emailing a prospect to establish and build a relationship.
Customer Acquisition Cost (CAC) - Answer -The cost of acquiring new paying clients.
Customer Lifetime Value (CLV) - Answer -The total lifetime value of one client before
they churn.
Customer Relationship Management (CRM) - Answer -A software or internet-based
service that helps manage the sales pipeline.
Customer Success - Answer -A strategy and proactive mindset that helps reduce churn
rates.
Decision Maker - Answer -The person in charge of making the purchasing decision at a
company.
Fortune 500 - Answer -A list of 500 of the largest companies in the US based on
revenue.
Gatekeeper - Answer -The person who decides to let you talk to the decision maker or
not. (primary responsibility is to protect their executive's time)
ICP (Ideal Customer Profile) - Answer -Ideal client for your business.
Inbound - Answer -Interest that comes in
, Inbound Sales - Answer -Sales that happen as a result of customers directly
approaching and engaging with the brand/company.
Lead - Answer -potential fit to purchase your product or service.
Lead Generation - Answer -All of the activities that have a goal to generate interest
around a product or a service through different methods.
Lead Nurturing - Answer -Building a long-term relationship with existing prospects.
Lead Qualification - Answer -A process of qualifying if a lead is a good fit to purchase
your product or service.
Lead Scoring - Answer -Ranking leads in terms of engaging priority
Influencer - Answer -Someone who has influence over the purchase but isn't the final
decision-maker.
Marketing Qualified Lead (MQL) - Answer -A lead that will most likely become a paying
client based on online engagement.
Monthly Recurring Revenue (MRR) - Answer -The amount of regular and predictable
income every month.
Onboarding - Answer -A process of introducing a new client to a service or product.
Opportunities - Answer -A qualified lead that is a good fit for your solution.
Outbound Sales - Answer -Cold calling, cold emailing and social selling, with the goal of
initiating contact with a prospective client and ultimately closing the deal.
Point of Contact - Answer -A person or a department within a company that the client
can reach out to.
Profit Margin - Answer -A ratio of profitability that reveals how much a company actually
makes.
Prospects - Answer -A list of names and contact information in some type of list,
database or CRM.
Referral - Answer -Method of generating new sales leads, where someone refers a
potential client to you.
Return on Investment (ROI) - Answer -Shows the effectiveness of the initial investment.
It is a ratio between net profit and the cost of investment.
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