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A forecast is based on the rollup of a set of opportunities. What are three dimensions in a forecast rollup?
A. Contacts, product family, and revenue
B. Time, categories, and territories
C. Quotes, contacts, and territories
Explanation: 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.
Why is it important for a sales representative to follow their company's sales methodology?
A. Creates consistent vision across sellers
B. Understands different approaches for achieving the same goal
C. Develops a better pipeline for growth
A company uses the BANT model for sales qualification. What does BANT indicate to sales representatives?
A. The proposed approach meets the criteria of being Bold, Ambitious, Noteworthy, and Thorough.
B. The deal is Beneficial, Acceptable to line management, Narrow in scope, and commercially Tight for sound legal management.
C. The prospective contact has Budget and Authority to buy, has Need for the product, and the Timing is right.
A sales representative is assigned to high-value prospects. What can the sales rep do to gain their interest?
A. Identify potential trigger events as the reason to reach out to prospects.
B. Connect with customers associated with the prospect on social media.
C. Focus on personal details when communicating with the prospect.
Explanation: Identifying potential trigger events as the reason to reach out to prospects is what the sales rep can do to gain their interest when assigned to high-value prospects. A trigger event is an occurrence or change that creates an opportunity or need for a product or service, such as a merger, expansion, launch, etc. Identifying trigger events helps to show relevance, timeliness, and value to the prospects, as well as to capture their attention and curiosity.
A sales representative is working on an opportunity that has recently progressed to a more advanced stage in the deal lifecycle.
Which action should the sales rep take to ensure accurate forecasting?
A. Continue forecasting based on the previous stage until the deal closes.
B. Focus on unrelated opportunities and assume the current opportunity will close.
C. Update the opportunity's stage and forecast category to reflect the recent progress.
Explanation: 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.
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