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SPH-M426 Final Questions With Complete Solutions ____________ is one of the characteristics of a successful salesperson. This is the ability to put oneself in the shoes of the customer. Correct Answers Empathy "Can you please share with me the biggest challenges that Mother Bears is facing right now in marketing to college students?" is an example of what type of open-ended question? Correct Answers Issue-based questions "I understand how you feel about the price. Other clients that I have talked to have felt the same way at first. However, what they have found is the group tickets for the Pistons is more affordable than many other options for entertaining their employees," is an example of what method of overcoming objections? Correct Answers Feel-felt-found method "What works best for you-- the 12-game mini-plan or the 28- game mini-plan?" is an example of what kind of closing method? Correct Answers Legitimate Alternative Choice (T/F) A direct request close technique is sometimes viewed as unethical. Correct Answers False (T/F) Nonverbal and verbal indications that the customer is ready to buy is known as the optimal sales point. Correct Answers False (T/F) The average salary for an Inside Sales employee is $32,500. Correct Answers False
(true or false) Group Sales is the area of the department focuses on selling tickets in the prestigious premium sales areas of the stadium. Correct Answers False (true or false) Group Tickets are focused on having a higher quantity of customers as a group attending a single game, usually with an incentive such as a price discount or an exclusive experience being offered. Correct Answers True 3 Primary Reasons to use open-ended questions Correct Answers To engage the prospect in a normal, back-and-forth conversation To try and make a connection To learn more about the prospect 3 Traps to avoid in Needs Analysis Correct Answers 1. Try to remain conversational so it does not appear that you are interrogating the prospect
- Try to build a connection with the prospect. Often sellers are too focused on asking their open-ended questions that they fail to build a rapport with the prospect
- Try not to appear unorganized or unprepared. Asking obvious questions may make it seem like you did not prepare adequately 8 Barriers to successful sales conversations Correct Answers 1. Sales message is not tailored to the customer
•9. BE POSITIVE
According to IMG founder and chairman Mark McCormack, selling consists of the following elements: Correct Answers • Identify customers (lead generation and data collections)
- Getting through to them (how to reach them)
- Increasing their interest in the product (this is why you should buy)
- Persuading them to act on that interest (buy now) Account executives make an average of more than $46,000 per year. Correct Answers True Average Salaries for Sales Jobs Correct Answers Inside Sales- $26, Account Executive- $48, Manager- $74, Director- $109, B2B vs B2C Correct Answers -B2B: Business to business, marketing of goods for use in a business -B2C: Business to consumer -"The key is intended use." Closing Correct Answers is the process of asking a prospect for their business Closing Signals Correct Answers When the prospect agrees that there is a need for your product
When the prospect asks about what you can offer You "hit it off" when the prospect When the prospect wants to know how to make this a reality When you feel you have the perfect product for the client Common Objections Correct Answers •NO-NEED: NO INTEREST •PRODUCT OR SERVICE: NOT INTERESTED IN THAT SPECIFIC ITEM •SPORT ORGANIZATION: TEAM PLAYING POORLY, NO STAR PLAYERS, DON'T LIKE THE COACH •PRICE •LOGISTICS: I'M TOO BUSY, I DON'T PLAN THAT FAR IN ADVANCE •HIDDEN: NOT STATED EXPLICITLY BY THE CUSTOMER •STALL: "LET ME THINK ABOUT IT" OR "I NEED TO ASK MY WIFE" Comparison Questions Correct Answers Uses words like compare, contrast, whether, versus, etc.
Do's of sales communication Correct Answers Be enthusiastic Be patient Be honest Paint a verbal picture Dont's of sales communication Correct Answers Throughout the conversation avoid using meaningless words, clichés, jargon, slang, foul language, jokes, puns Don't be a bad listener Don't interrupt Escalator Model Correct Answers The goal in this model is to move customers up the "escalator" to increase the frequency of their purchases Fact Finding Meeting Correct Answers Sponsorship sales rep meets with the company's decision maker (owner, marketing director, sales director, etc.) and for a fact-finding meeting and conducts a needs-analysis by asking open-ended questions Five Key Job Responsibilities Of Sales Correct Answers Selling Prospecting Customer Relationship Management Product Knowledge Sales Force Management Four main factors cause customers to perform or fail to perform Correct Answers Quality
Quantity Time Cost Hidden Objection Correct Answers An objection that has never been stated by the customer How do you grow your database? Correct Answers Fishbowl, loyalty card, fan who purchases concessions or merchandise on credit card, enter-to-win contests & drawings, official newsletter on website, online sweepstakes, fan surveys, suggestion box, requests for schedules/posters, guest comment cards, social media, and so on In a study of 450 sport sales professionals, respondents of the survey responded that they work an average of _____________________ hours per week. Correct Answers 53 Inventory Correct Answers the broad term used to describe anything that, currently is or could potentially, be sold as part of a sponsorship package Inventory Examples Correct Answers • Naming rights to a sports arena or stadium
- Signage in the arena or stadium
- Signage on the basket at basketball games
- Giveaway items
- Backdrop for press conferences
- Social Media Posts
- On-field promotional contests
Outsourcing Ticket Sales Correct Answers Several college athletics departments outsource their ticket sales to IMG/Learfield Ticket Solutions and other such companies Pro teams have started outsourcing too (Colts) Past Customers Correct Answers In the past, they have demonstrated interest in the product and a purchasing behavior Potential Customers Correct Answers Usually lower interest in the product and higher costs associated with generating awareness and interest with this group Professional Sales Correct Answers is proactively making communication with a prospective customer ("prospect") to engage in a dialogue to sell them a good or service Sales Communication Do's Correct Answers ■ Be Enthusiastic ■ Be Patient ■ Be Honest Sales Communication Don'ts Correct Answers ■ Throughout the conversation avoid using meaningless words, clichés, jargon, slang, foul language, jokes, puns -Meaningless words ■Definitely, basically, essentially, literally kind of, sort of -Commonly overused clichés ■At the end of the day, think outside the box, apples-to-oranges, I'm not gonna lie, to tell you the truth
Don't Interrupt Sales is the _________________ of any sport organization. Correct Answers lifeblood SPET Correct Answers Summarize what the prospect is interested in Present a solution Explain why Trial close Sponsorship Sales Correct Answers selling advertising space with a sport property (such as a stadium) to another outside company Sponsorship Sales vs Ticket Sales Correct Answers • Sponsorship sales reps do not make 60-80 calls a day
- Sales calls are made with the goal of setting up a meeting with the decision maker
- The sales pitch and the deal close don't come until much later in the process when a relationship has already been established Sponsorship- Additional Assets Correct Answers • Sometimes sponsorship salespeople can sell additional assets to help outside businesses ▫ Perhaps the owner also wants 4 season tickets so he/she can entertain clients ▫ A business may be interested in receiving special access to the team's players, coaches, or facilities to help them achieve their business objective
- Present a solution (trial close)
- Understand & overcome their objections
- Close (second attempt, try to obtain commitment)
- Wrap-up the call
- Post-call: critique yourself The one who asks the questions controls the _________________. Correct Answers Conversation The SPIN technique of questioning utilizes a sellers experiences and product knowledge to turn negative attributes about a product into a positive for the customer. Correct Answers False There are many benefits to the salesperson for asking questions to uncover customer needs, desires, motives, and problems Correct Answers Asking questions helps create dialogue It helps the seller build rapport because most people like to hear themselves talk It prevents the salesperson from dumping potentially irrelevant information on the prospect Ticket sales is the______ of any sport organization because so many other revenue streams are dependent on it Correct Answers lifeblood Trial Close Correct Answers Summarize what the prospect is interested in Present a solution Explain why
Trial close SPET True or False: In reality, sales is merely a way to get a foot in the door in sports, with little long-term career prospects. Correct Answers False True or False: Salespeople typically have a better opportunity to quickly improve their pay than other entry-level jobs in sport. Correct Answers True Types of stories to use in sales communication Correct Answers Who I am- Describe your journey, who you are, and what you are doing Who I Represent- Describe the journey of the sport organization you work for Who I Have Helped- Describe how you have helped other customers Which of the following best describes the basic premise of the escalator model? Correct Answers It is an explanation of dividing customers into tiers based on their frequency of purchases Which segment of the sport industry is most likely to outsource their ticket sales? Correct Answers College Athletics
