Sales Glossary Quiz

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Questions and Answers

What is the definition of a buyer persona?

A representation of the ideal customer for your business. (correct)

The person in charge of making the purchasing decision at a company.

Someone who is a potential fit to purchase your product or service.

A person or company that offers services or products on behalf of another company.

What is an account in sales?

A sales team member in charge of managing and up-selling existing clients and accounts

A record of customer interactions, including contact information, preferred services, and transactions with your business (correct)

A sales team member in charge of closing deals

The amount of money a customer pays you every year on a subscription model

What is the definition of churn rate?

The amount of money a customer pays you every year on a subscription model.

The percentage of clients that leave or stop using your services or products within a certain time period. (correct)

The number of deals closed compared to the number of engaged prospects.

The annual contract value is the average annualized revenue per customer contract.

What is the difference between B2B and B2C sales?

B2B is selling to other businesses, while B2C is selling to consumers Signup and view all the answers

What is the difference between B2B and B2C sales?

B2B sales are conducted between businesses, while B2C sales are conducted between a business and a consumer. Signup and view all the answers

What is a buyer persona in sales?

A representation of the ideal customer for your business Signup and view all the answers

What is the definition of a lead?

A sales specialist focused on finding new prospects, establishing foundational relationships, and updating the sales pipeline with new leads. Signup and view all the answers

What is the annual contract value in sales?

The average annualized revenue per customer contract Signup and view all the answers

What is the definition of account-based selling?

A strategy where the entire company coordinates to pursue high-value accounts. Signup and view all the answers

What is the definition of churn in sales?

The percentage of clients that leave or stop using your services or products within a certain time period Signup and view all the answers

What is the definition of a sales pipeline?

A software or Internet-based service that helps business owners and sales professionals manage their sales pipeline. Signup and view all the answers

What is account-based selling in sales?

A strategy where the entire company coordinates to pursue high-value accounts Signup and view all the answers

What is the difference between a sales representative and an account executive?

Sales representatives focus on finding new prospects, while account executives focus on closing deals and only prospect a small number of strategic accounts Signup and view all the answers

What is the definition of a strategic account?

Or Account Executives, they are focused on closing deals and they only prospect a small number of strategic accounts. Signup and view all the answers

What is the definition of a sales channel?

Focusing on different sales channels, such as an in-house sales team, retailers, referrals, dealers, etc. Signup and view all the answers

What is a CRM in sales?

A software or Internet-based service that helps business owners and sales professionals manage their sales pipeline Signup and view all the answers

Study Notes

Sales Glossary

An account contains all the records of customer interactions, including contact information, preferred services, and transactions with your business.
A sales team member in charge of closing deals by converting qualified leads into paying customers.
A sales team member in charge of managing and up-selling existing clients and accounts.
The amount of money a customer pays you every year on a subscription model.
The annual contract value is the average annualized revenue per customer contract.
Account-based selling is a strategy where the entire company coordinates to pursue high-value accounts.
A sales specialist focused on finding new prospects, establishing foundational relationships, and updating the sales pipeline with new leads.
Selling business to business.
Selling business to consumer.
A group of people representing a specific department or product within a company.
A buyer persona is a representation of the ideal customer for your business.
A verbal or nonverbal cue that shows a customer is ready to make a purchase.
Highest level executives; C stands for Cheif – like Chief Executive Officer (CEO).
A prospect within a company that wants to purchase your product or service.
A person or company that offers services or products on behalf of another company.
Focusing on different sales channels, such as an in-house sales team, retailers, referrals, dealers etc.
The percentage of clients that leave or stop using your services or products within a certain time period.
The number of deals closed compared to the number of engaged prospects.
Closed opportunities, paying clients and people that your account managers should take care of.
Or Account Executives, they are focused on closing deals and they only prospect a small number of strategic accounts.
Attempt to engage with a prospect (that you don’t yet have a relationship established) on a call.
Attempt to engage with prospects via email; sending a sales proposal to someone that you don’t yet have a relationship with.
The cost of acquiring new paying clients.
The total lifetime value of one client in terms of the revenue they’ll bring before they churn.
A software or Internet-based service that helps business owners and sales professionals manage their sales pipeline.
A strategy and a proactive mindset that helps reduce churn rates, increase customer satisfaction with a service/product, and the predictability of recurring revenue.
The person in charge of making the purchasing decision at a company.
A list of 500 of the largest companies in the US based on revenue.
The person who answers the corporate phone and decides to let you talk to the decision-maker or not.
Ideal Customer Profile is a profile of an ideal client for your business.
Interest that comes in (received cold emails, submitted forms..)
Sales that happen as a result of customers directly approaching and engaging with the brand/company.
Someone who is a potential fit to purchase your product or service.
All of the activities that have a goal to generate interest around a product or a service through different methods.

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Description

Test your knowledge on sales terminology with this Sales Glossary quiz! From account-based selling to lead generation, this quiz will challenge your understanding of the key terms and concepts used in the sales industry. Whether you're a seasoned sales professional or just starting out, this quiz will help you brush up on your knowledge and stay up-to-date with the latest industry lingo. So, are you ready to put your sales vocabulary to the test? Take this quiz now and find out!