A
what is a sales funnel
" visually focused on showing large number of prospects shrinking to fewer closed sales"
simpler definition: journey for customers from prospecting to purchase"
what is closed sale
official yes from client
what is a closed rate
number of deals vs number of opportunities
what is a win rate
estimates revenue from your opportunities
potential guess of profit from opportunities created
what's is Stephen's full name
stephen Hill
name 3 out of the 10 steps for the sales process
1. assessing the need and solution
2. gathering the information, planning and preperation
3. follow up with customer
4. prospecting
5. solve with a product or service
6. present and sell
7. ask for the business
8. report and communicate back to your customer
9. deliver on your promise
10. evaluate and improve
what are key pieces of your sales pipeline
accuracy
time
honesty
what is the sales cycle length
depends on what your approach of product, your ideas and your preparation and your execution
how many steps are in the sales process
10 steps
what platform should Hogwarts students go through to get on the Hogwarts express
9 3/4
what is the role of a salesperson
hits revenue
keeps expenses under control
accomplish adjectives
make sales
know how to communicate with a client in a appropriate manner
what is a pipeline stage review
when is their potential for a sale
when the customer is interested
product is useful
proper line of communication of your product
name 1 or 2 cultivating opportunities
knowing the customer
listening closely to your client and their needs
take good notes of surrounds and needs and wants
which house does the sorting hat put harry potter in?
gryffindor
what is the backbone of a successful pipeline management
well-designed
strategically aligned
proper communication internally and externally
2 key components within the sales foundation
1. product or service knowledge
2. collaborative selling
3. communication
4. individal coaching
5. time management
how many stages are their in the pipeline structure
5
why is communication important when delivering your product
leads to efficient workflows
promotes collaborative selling
leads to more sales
builds loyalty within your organization and your customer
what is the smallest country in the world
vatican city
what are the 3 important steps in the sales pipeline management
1. implementation plan : organizations to sell to, customer relationship updates, corporate responsibilities
2. planning: planning your account coverage, follow-ups that need to be handled
3. preparation: buyer presentations, staff meetings, what materials
1. average leads, prospects, opportunity and accounts
2. pipeline opportunity, volume and weightings
3. sales cycle length
4. closed rate and win rate
who is responsible for finding leads
lead generation
sales and marketing department
what is sales forcasting
prediction of sales
estimating future revenue
what is the biggest desert in the world
The Antarctic polar desert