Mixed Deck — All SPC Topics Flashcards

When is the best time to discuss pricing in a sales negotiation?

Answer: After establishing the value the product/service delivers to the customer

Discussing price after establishing value ensures the customer evaluates cost in relation to the benefit received, making the price more defensible.

What does 'prospecting cadence' refer to in a sales outreach strategy?

Answer: A structured sequence of multi-channel touchpoints executed over a defined time period

A prospecting cadence is a planned, multi-channel outreach sequence—combining emails, calls, and social touches—designed to systematically engage prospects over a specific timeframe.

What is the purpose of recording detailed notes in a CRM after every customer call?

Answer: To ensure continuity and context for future interactions, whether by the same or a different rep

Thorough CRM notes ensure that any team member can pick up the relationship seamlessly and provide consistent, informed service.

A SWOT analysis helps in:

Answer: Identifying strengths, weaknesses, opportunities, and threats

A SWOT analysis is a strategic planning tool used to evaluate an organization's internal strengths and weaknesses, as well as external opportunities and threats. This comprehensive assessment helps businesses understand their current position, identify areas for improvement, and develop effective strategies for future growth and risk mitigation.

Which of the following is the primary goal of sales planning?

Answer: Setting clear, achievable sales targets

The primary goal of sales planning is to establish a roadmap for achieving sales objectives. This involves setting specific, measurable, achievable, relevant, and time-bound (SMART) sales targets. Clear targets provide direction, motivate the sales team, and allow for effective tracking of progress and performance.

What is a 'win-back campaign' in CRM?

Answer: A targeted effort to re-engage former customers who have lapsed or churned

A win-back campaign uses personalized outreach and incentives to re-engage customers who have stopped buying.

What is the primary difference between inbound and outbound lead generation strategies?

Answer: Inbound attracts prospects to the company while outbound reaches out to prospects directly

Inbound lead generation draws prospects in through valuable content and marketing, while outbound involves proactive outreach to potential customers.

Which of the following best describes a sales funnel?

Answer: A process that tracks the stages of a potential customer's journey from awareness to purchase

A sales funnel visually represents the customer journey, from initial awareness of a product or service to the final purchase. It helps sales teams understand where prospects are in the buying process, identify bottlenecks, and develop targeted strategies to move them through each stage towards conversion. This optimizes the sales process and improves efficiency.

A customer asks a sales professional for a comparison of competitors' pricing. The ethical response is to:

Answer: Provide accurate information if available, or acknowledge the limits of your knowledge

Ethical salespeople provide accurate comparative information or acknowledge uncertainty rather than misleading customers.

What is 'churn rate' and why does it matter for sales performance?

Answer: The percentage of customers who stop buying or cancel over a period, which offsets new customer acquisition

High churn erodes the gains from new sales, meaning the team may be running hard just to stay in place — reducing churn is as valuable as adding new revenue.

What is a 'key performance indicator' (KPI) in a sales context?

Answer: A quantifiable metric used to evaluate a salesperson's or team's progress toward defined sales goals

KPIs provide objective, measurable data points that track progress toward goals and identify areas requiring improvement or coaching.

In a sales negotiation, what is the 'anchor' effect?

Answer: The tendency for the first number offered to heavily influence the final outcome

The anchoring effect means the first offer made in a negotiation disproportionately shapes subsequent counteroffers and the final result.

What does a 'leaky funnel' indicate in lead management, and what is the primary risk?

Answer: Prospects dropping out at various stages without being properly nurtured or converted

A leaky funnel means prospects are exiting the pipeline unconverted at multiple stages, indicating gaps in nurturing, follow-up, or qualification that reduce overall sales conversion efficiency.

What does BATNA stand for in negotiation?

Answer: Best Alternative To a Negotiated Agreement

BATNA is your best course of action if a current negotiation fails, and knowing it gives you confidence and a walk-away point.

Which CRM activity best supports customer retention?

Answer: Conducting regular post-sale follow-ups

Post-sale follow-ups show customers they are valued and help identify issues before they cause churn.

What is a 'referral' in the context of sales prospecting, and why is it valuable?

Answer: A recommendation or introduction from an existing customer or trusted contact that typically increases close rates

A referral is a lead generated when an existing customer or contact vouches for and introduces the salesperson to a potential buyer, typically resulting in significantly higher trust and close rates.

What is 'social selling' in the context of modern sales prospecting?

Answer: Using social media networks to find, connect with, and build relationships with prospects

Social selling leverages social media platforms to identify prospects, build rapport, and nurture relationships that eventually evolve into sales opportunities.

What is 'cost of sales' as a performance metric?

Answer: The total expenses associated with generating revenue, including salesperson compensation, tools, travel, and overhead

Cost of sales measures the efficiency of the sales operation — a lower ratio of sales cost to revenue indicates a more efficient sales engine.

Which behavior best exemplifies ethical conduct in sales?

Answer: Providing accurate information even when it may not favor the sale

Ethical sales behavior requires honesty and transparency, even when it makes the sale more difficult.

Which technology can help sales professionals analyze large volumes of sales data to identity trends and insights?

Answer: Artificial Intelligence (AI)

Artificial Intelligence (AI) is specifically designed to process and analyze vast datasets, identify patterns, and generate insights. Sales professionals can leverage AI tools for predictive analytics, customer segmentation, and trend forecasting, which are crucial for optimizing sales strategies and improving decision-making.