Exam (elaborations)
Technology Sales Course at Course Careers Exam Questions and Answers
- Course
- Institution
Technology Sales Course at Course Careers Exam Questions and Answers
[Show more]
Content preview
Technology Sales Course at CourseCareers Exam Questions and Answers
Account - Answer -Record of all 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 busines
Account Executive/AE/Closer - Answer -A sales team member in charge of closing
deals by converting qualified leads into paying customers.
Account Manager/AM/Farmer - Answer -Manage and up-selling existing clients and
accounts.
Annual Recurring Revenue(ARR) or Renewal - Answer -Amount of money a customer
pays you every year on a subscription model.
Annual Contract Value(ACV) - Answer -Average annualized revenue per customer
contract. Usually compared against customer lifetime value to see how long it takes to
pay back the cost of acquiring a customer.
Account-Based Selling - Answer -Strategy where the entire company coordinates to
pursue high-value accounts. Sales, marketing, and customer success depts are most
typically involved
Business Development Representative - Answer -Also known as a Sales Development
Representative (SDR). A sales specialist focused on finding new prospects, establishing
foundational relationships, and updating the sales pipeline with new leads.
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 such as accounting or manufacturing.
Buyer Persona - Answer -A representation of the ideal customer for your business.
Companies create buyer personas based on market research and data about existing
, customers. Important for marketers for creating a target audience and for sales
representatives qualifying leads.
Buying Signal - Answer -A verbal or nonverbal cue that shows a customer is ready to
buy, such as signing up for a free trial, asking about contract specifics.
C-Level / C-Suite - - Answer -Highest level executives; C stands for Cheif - like Chief
Executive Officer (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.
Clients - Answer -Closed opportunities, paying clients and people that your account
managers should take care of.
Closers or Account Exectutives - Answer -Focused on closing deals and they only
prospect a small number of strategic accounts.
Closing Ratio - Answer -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
Cold calL - Answer -Attempt to engage with a prospect (that you don't yet have a
relationship established) on a call.
Customer Acquisition Cost (CAC) - Answer -The cost of acquiring new paying clients.
Customer Lifetime Value (CLV) or Lifetime Value (LTV) - Answer -The total lifetime
value of one client in terms of the revenue they'll bring before they churn.
Customer Relationship Management/CRM - Answer -A software or Internet-based
service that helps business owners and sales professionals manage their sales pipeline;
track prospects and related activities throughout the sales cycle.
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 $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now