Monday, July 21, 2014

S.P.I.N An Introduction To Spin Selling

If you happen to work in a sales environment, even in an online basis, you may be able to use the SPIN selling technique to gain better results. This is a very basic introduction, and in order to master the process, you will need to do some further homework. This will give you the basis of what spin selling is, and how you may be able to develop it in your own sales environment. I have used it effectively for a number of years, and while it won't always work for all sales environments, its elements are at the core of good sales practise. That is, effective questioning and prospecting.SPIN selling stands for;SituationProblemImplicationNeeds payoffThese are a form of questioning that allows you to funnel your prospect into a buying outcome. Let's dig a little deeper as to what all this means.Situation: What is the prospects situation? What is their business, or particular situation of why they would even consider your product or service? Is it relevant to what you are offering?Problem: What problem do they have that you could solve? What issues have arisen due to their situation? What is the fundamental core of what they are trying to achieve?Implication: What does their problem imply? What is the issue that the problem they have is causing? How is it affecting them or their business?Needs Payoff: This is the closing of your sequence. The needs payoff is the end of the sales funnel. If you have followed the other steps correctly, the prospect should have seen how you will be able to help them by this stage. A needs payoff question shows how the service or product you are offering can assist them.For the sake of example, let's say that we are trying to sell a mobile phone. You can substitute anything at this point, but this is for example's purposes of the flow of conversation. I have made the assumption that the conversation goes flawlessly, and that the prospect is a willing participant.

You: Hello, and welcome to Massive Mobile Phone World. I see you've got last year's Cowabunga Super Radical Smart phone. How have you found that? (this is establishing what their situation is)Prospect: Yeah, it's been great. I get great coverage, and use it all the time. (Their situation is that they are an active user, and are happy with it... so far).You: How has its overall performance been? (problem question. Probing for information)Prospect: I have noticed that it has become slower loading in the last few months, but I think that might be due to the amount of apps installed. Otherwise I love it. (they have now implied that they have a problem with the model)You: Oh, OK, so it has slowed down. How frustrating has that been for you? (you are eliciting an emotional response from the prospect, and also implying that they have had issues. This is also an open question so they can't answer 'yes' or 'no')Prospect: Yeah, I guess I have been a little frustrated with it, more so lately. It does tend to bug me actually.You: OK, well if you had a phone with more storage, speed and is less likely to stall at inopportune times, is that something you would prefer?Prospect: Yes!You: Great! Well, here's the cowabunga mega radical smart phone. It's the upgrade from your current model, and is just $20,000 how does that sound?Prospect: Mmm, that's a little pricey.You: Wow, you drive a hard bargain. OK, well if I am able to discount the price to just $295, would you buy it?Prospect: Oh, yeah!I know this is not necessarily the best example, but the flow of conversation is the important part to take away.Spin selling can be really effective if used correctly, and hopefully this gives you a brief example of how to utilise in your profession.

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