Explanation: 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.

Explanation: Price objections are related to the customer’s perception of the value of the solution and their ability or willingness to pay for it. Return on investment (ROI) is a measure of the value that the solution provides in relation to its cost. If the customer is concerned about ROI, it means they are not convinced that the solution is worth the price or that they can afford it. The sales representative should address this objection by demonstrating the value proposition of the solution, highlighting the benefits and outcomes that the customer can expect, and showing how the solution can help the customer achieve their goals and solve their problems. The sales representative should also explore the customer’s budget and decision-making process, and offer flexible payment options or discounts if possible.

Explanation: Stage velocity is the pace a deal moves from one stage to another in a sales pipeline. It is a measure of how quickly and efficiently a sales representative can move an opportunity from the initial contact to the final close. Stage velocity can help the sales representative to forecast more accurately, identify and remove any bottlenecks or obstacles, and optimize their sales process. The number of stages an opportunity must go through or the average length of a customer’s contract are not the correct definitions of stage velocity, although they may affect it. The number of stages may vary depending on the complexity and size of the deal, and the average length of a customer’s contract may depend on the type and value of the solution.

Explanation: The desired outcome of an upsell proposal is to optimize existing product offerings by selling more features or services to an existing customer. Upselling helps to increase customer satisfaction, loyalty, and retention by providing them with more value and benefits from the product. Upselling also helps to increase revenue and profitability for the sales rep and the company.

Explanation: A cold call is a phone call to a potential customer who has not expressed any prior interest in your product or service. The key elements of a successful cold call are a compelling hook and open-ended questions. A compelling hook is a brief statement that captures the attention of the prospect and shows them how your product or service can solve their problem or meet their need. Open-ended questions are questions that require more than a yes or no answer, and that encourage the prospect to share more information about their situation, goals, challenges, and preferences. By using a compelling hook and open-ended questions, you can engage the prospect, build rapport, qualify them as a lead, and move them to the next stage of the sales process.