Account Executive I

The Account Executive I at Favor plays a pivotal role as the liaison between the company and its merchant partners. Key responsibilities include cultivating new lead opportunities through cold calling and in-person meetings, maintaining an active pipeline of potential partners, and managing the full sales cycle, from lead generation to contract negotiation. This position also requires collaboration with internal teams to ensure merchant satisfaction and support, making it essential for the Account Executive to possess strong communication and relationship-building skills.

To be successful as an Account Executive I at Favor, candidates should have a bachelor's degree or equivalent work experience. Previous experience in sales or customer service roles is crucial, particularly in executing the full sales lifecycle. Familiarity with market research and sales negotiation principles, alongside excellent time management and communication skills, will also set candidates up for success in this role.

The sales process for an Account Executive I at Favor is dynamic and engaging. It starts with identifying and reaching out to potential merchant partners, understanding their needs through insightful questions, and presenting the value of Favor’s services. The executive then manages the entire cycle of securing sales, which includes drafting proposals, negotiating terms, and finalizing contracts, all while utilizing the internal CRM system to track activities and progress.

At Favor, the work environment for an Account Executive I is energetic and fast-paced. Emphasizing teamwork and collaboration, this role allows for regular interaction with peers and business owners. Executives spend substantial time in the field, meeting merchants in person, fostering relationships, and adapting swiftly to the evolving market landscape, thus keeping the work engaging and fulfilling.

While speaking Spanish is not a requirement, it is considered a plus for the Account Executive I position at Favor. Being bilingual can help build rapport with a diverse range of merchants and enhance communication, ultimately supporting the company in satisfying the needs of the local business community better.

When answering this question, demonstrate your understanding of relationship-building principles by detailing how you approach communication, listen to clients' needs, and create trust. Highlight any prior experiences that showcase your ability to build rapport, and explain how you would nurture these relationships long-term at Favor.

For this question, discuss your time management skills, tools you might use (like CRM software), and specific strategies such as prioritizing leads based on their readiness to purchase. Emphasize your proactive approach to keeping track of follow-ups and maintaining engagement with potential partners.

Provide a specific example that illustrates your negotiation tactics and problem-solving capabilities. Discuss the challenges you encountered during the negotiation, the steps you took to achieve a favorable outcome for both parties, and the lessons learned to improve your future negotiation skills.

Explain your techniques for turning a uninterested lead into a potential client. This can include asking open-ended questions to uncover their concerns, presenting compelling value propositions, or emphasizing case studies or testimonials that resonate with their challenges.

Discuss the integral role customer service has in promoting long-term relationships and client satisfaction. Highlight how excellent customer service leads to referrals, repeat business, and can often make or break a sale, especially in a competitive market like Favor's.

Talk about specific tools or methods you use to set, track, and achieve your sales goals. Whether using apps, planners, or personal reminders, emphasizing your organizational skills and methodologies demonstrates your ability to prioritize and execute effectively.

Share your passion for supporting local economies and how working with local businesses aligns with your values. Discuss the fulfillment you find in helping these companies grow and succeed, and how that aligns with Favor's mission as well.

This question allows you to show your analytical skills. Discuss how you would use data to identify trends, evaluate potential leads, measure success rates, and adapt your sales strategies based on insights gathered, all while reinforcing how this benefits favorantly the merchants.

Highlight your best practices for cold calling, such as preparing scripts, researching leads beforehand, using an engaging tone, and being adaptable during the call based on the responses you receive. Explain how these techniques have led to successful outcomes in your experience.

In this response, convey your enthusiasm for Favor's mission and core values. Speak to your alignment with the company culture and how the role would allow you to contribute to meaningful changes among the local business community while driving your own professional growth.