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Business Development in a Digital Culture > Test #1 > Flashcards

Test #1 Flashcards

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1
Q

What are the 4 key roles within a Sales Organization?

A
  1. Business Development
  2. Account Management
  3. Customer Success Management
  4. Sales
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2
Q

What is business/sales development?

A

The work done to identify, connect with and qualify leads that are interested in buying advertising space.

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3
Q

What is the responsibility of account management?

A
  • They are responsible for post-sale work, once the sale is closed.
  • Handle client concerns and complaints in partnership with the sales representative
  • Collect, analyze and input data into the system
  • Find ways to improve the customer’s overall involvement in the experience and upsell
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4
Q

What is the responsibility of customer success management?

A
  • Supports the customer once they are starting to use the product or service
  • Focused on customer loyalty
  • Try to actively assist with technical issues before the customer experiences them
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5
Q

What is the responsibility of a sales representative?

A
  • Shows how the product or service can help the prospective ad agency
  • Works closely with the account manager to ensure product sold to client is being delivered
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6
Q

What is the purpose of the advertiser to a marketing team?

A
  • Creates value for products and services
  • Develop relationships with customer and channel partners
  • Identifying ROI and shareholder value
  • Forward-thinking strategic marketing per market trends
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7
Q

What is the purpose of agencies?

A
  • Advise and counsel on marketing and media strategies
  • Prepare and develop, print, outdoor, and electronic advertisement
  • Carry out collateral designs of various items such as display material and other display material
  • Help and counsel on sales promotion and other communication tasks
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8
Q

What is the buying center?

A
  • Responsible for evaluating the various options available and determining which media outlets and platforms will be the most effective for promoting the company’s product or service.
  • The goal of the buying center is to ensure that the advertising budget is being used in the most effective way to reach the target audience and achieve the desired results
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9
Q

What is the purpose of a media company?

A
  • Drive and close sales opportunities. Sell products or packages to achieve and deliver sales targets
  • Manage and maintain advertising agency relationships. Execute and deliver against commitments negotiated
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10
Q

What is selling?

A

Media company sellers reach out to media planners and buyers to offer them opportunities for the advertisers they represent

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11
Q

What is personal selling?

A

Focuses on interpersonal interactions between the buyers and sellers

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12
Q

Goals of personal selling?

A
  1. Initiate - If it’s a new relationship
  2. Develop - With a growing relationship
  3. Enhance - From an existing long term relationship
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13
Q

Personal selling approaches

A
  1. Stimulus/Response selling
  2. Mental states selling
  3. Needs satisfaction selling
  4. Problem-solving selling
  5. Consultive selling
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14
Q

What is stimulus/response selling?

A
  • Ask questions and make comments that would encourage the client or potential client to respond positively to them
  • Keep asking those questions that encourage a “yes” or “I agree” in hopes that it will convince the customer that they need to buy the product to help meet their needs
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15
Q

What is mental states selling?

A
  • Assumes that the buying process is the same for all buyers and that follows AIDA (Awareness, Interest, Desire, Action) will elicit a sale
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16
Q

What is needs satisfaction selling?

A
  • The salesperson is assuming that the advertising agency is buying to meet a particular need or needs
  • Requires extensive open-ended and closed-ended questions
17
Q

What is problem-solving selling?

A
  • Come up with a few solutions to the problem
  • Generate multiple alternatives so the ad agency has the option to choose from
18
Q

What is consultative selling?

A
  • Try to understand the customer needs, then work in collaboration with them to achieve them
  • Three roles in consultative selling: strategic orchestrator, business consultant, long-term ally
19
Q

Main functions of a salesperson

A
  • Act: Where the preparation and communication has paid off and you are able to work with the buyer to solve a problem or take advantage of an opportunity
  • Communicate: Communicating via email, phone, face to face, social media, networking
  • Prepare: Sales people spend the most time in preparation. Finding and prioritizing customers, preparing materials, researching customer needs, understanding the buyer’s client
20
Q
A

Business Development in a Digital Culture (1 decks)

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