Salesforce Certified Sales Representative Practice Test - Questions Answers, Page 7

Lead conversion rate is a metric that the company should use to track the effectiveness of the new value proposition. A value proposition is a statement that summarizes how the product can solve the customer's problems, fulfill their needs, and provide them with benefits that outweigh the costs. Lead conversion rate is a measure of how many leads (prospects who have shown interest in the product) become customers (prospects who have bought the product). Lead conversion rate helps to evaluate how well the value proposition resonates with potential customers and influences their purchase decisions.

Reference: https://www.salesforce.com/resources/articles/value-proposition/#value-proposition-metrics

Updating the opportunity's stage and forecast category to reflect the recent progress is what the sales rep should do to ensure accurate forecasting. An opportunity is a qualified prospect who has a high probability of buying the product. An opportunity stage is a measure of how far along the opportunity is in the sales process, such as prospecting, qualification, proposal, negotiation, etc. A forecast category is a measure of how likely the opportunity is to close as won, such as pipeline, best case, commit, closed, etc. Updating the opportunity's stage and forecast category helps to reflect the current status and potential outcome of the opportunity, as well as to provide a realistic and reliable prediction of future sales revenue.

Reference: https://www.salesforce.com/resources/articles/sales-forecasting/#sales-forecasting-definition

Sharing a customer success story is a powerful way to convince a contact to make an introduction to the decision maker, as it demonstrates the value and credibility of the sales rep's solution. A customer success story should include the following elements: the customer's challenge, the solution they implemented, and the results they achieved. The sales rep should also tailor the story to match the contact's industry, role, and pain points, and highlight how the solution can help them achieve their goals. By sharing a customer success story, the sales rep can create a sense of urgency and curiosity in the contact, and motivate them to introduce the sales rep to the decision maker who can benefit from the solution as well.Reference:

Sales Rep Training: Create Effective Selling Habits, unit "Use Customer Success Stories to Sell with Value".

Cert Prep: Salesforce Certified Sales Representative, unit "Close Deals with Value".

BANT is a sales qualification model that stands for Budget, Authority, Need, and Timing. It helps sales representatives identify and prioritize the most qualified prospects based on four key criteria:

Budget: The prospect has the financial resources to purchase the product or service.

Authority: The prospect has the decision-making power or influence to approve the purchase.

Need: The prospect has a specific problem or pain point that the product or service can solve.

Timing: The prospect has a clear timeline or urgency to buy the product or service. BANT helps sales representatives focus on the most promising opportunities, avoid wasting time on unqualified leads, and align their sales process with the customer's buying journey.Reference: [Cert Prep: Salesforce Certified Sales Representative: Qualify Leads], [Sales Rep Training: Qualify Leads]

A forecast is a projection of how much revenue you can generate in a quarter. A forecast rollup is the aggregation of a set of opportunities based on three dimensions: time, categories, and territories. Time refers to the fiscal period, such as month or quarter, that the forecast covers. Categories refer to the stages of the sales process, such as commit, best case, or pipeline. Territories refer to the sales regions or markets that the forecast applies to.Reference:

Certification - Sales Representative - Trailhead

Cert Prep: Salesforce Certified Sales Representative - Trailhead

[Forecasting Guide - Salesforce Help]

Making a draft of the value proposition and seeking customer feedback is the best way to introduce the value proposition to the customer, because it allows the sales rep to validate their assumptions, test their hypotheses, and refine their solution based on the customer's input. This also helps to build trust and rapport with the customer, and demonstrate that the sales rep is genuinely interested in solving their challenges. Collaborating internally to iterate on the value proposition for the customer is not a bad idea, but it does not involve the customer in the process, and may result in a solution that does not match the customer's needs or expectations. Unveiling the value proposition to the customer after it is finalized is a risky strategy, because it may surprise or disappoint the customer, and leave no room for adjustments or negotiations.Reference:Certification - Sales Representative - Trailhead, [Sales Rep Training: Create Effective Selling Habits - Trailhead]

Design thinking is a creative problem-solving process that involves understanding the customer's needs, challenges, and goals, and generating innovative solutions that address them. Design thinking is based on five stages: empathize, define, ideate, prototype, and test. By using design thinking, sales representatives can help their customers discover new possibilities, overcome obstacles, and create value.Reference:

Cert Prep: Salesforce Certified Sales Representative, unit "Use Design Thinking to Solve Customer Problems".

What is Design Thinking? --- updated 2024 | IxDF

Design thinking, explained | MIT Sloan

A sales representative can frame a solution around a customer's business challenges by addressing the customer's pain points. Pain points are the specific problems or issues that the customer is facing or wants to avoid. By understanding the customer's pain points, the sales representative can tailor the solution to meet the customer's needs and goals, and demonstrate how the solution can solve the customer's problems or prevent them from occurring. Addressing the customer's pain points also helps the sales representative to build trust and rapport, and to show the value and benefits of the solution.Reference: [Sales Rep Training: Present Solutions], [Cert Prep: Salesforce Certified Sales Representative: Present Solutions]

Team selling is a strategy of using a group of salespeople with different skills and expertise to sell to and serve major accounts. The primary benefit of team selling at a key account is that it leverages the collective expertise of the team members to meet the customer's expectations and needs. Team selling can help create value for the customer by providing customized solutions, addressing complex problems, and delivering superior service. Team selling can also help build trust and loyalty with the customer by demonstrating commitment, collaboration, and professionalism.Reference:

Cert Prep: Salesforce Certified Sales Representative, unit "Build and Maintain Relationships with Key Accounts"

Team Selling: The Secret Weapon in Major Accounts