SPIN SELLING by: Neil Rackham http://studentofsales.wordpress.com/2007/07/04/my-take-on-spin-selling-part-1/
Sales Behavior and Sales Success
Successful Salespeople are…
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Not better closers Not better at handling objections Not better at using open ended questions
Many beleive the 3 key components to a sales pitch are: 1. Uncover needs with open and closed questions. 2. Overcome objections. 3. Close for the business. Huthwaite (Rackham’s research company) found through 10 yrs of research that the methods listed above are:
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Good for low-value sales
According to Rackham, Top salespeople are using a POWERFUL PROBING INVESTIGATION STRATEGY to achieve their success.
Success in the Larger Sale
Traditional (not
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Inexperienced sellers generally don’t ask enough. 3. Implication Questions. ~ Take a problem question and explore it’s effects or consequences. Very important. 4. Need-payoff Questions. ~ Get the customer to tell you the benefits that your solution could offer.
The SPIN Model
This is not a rigid sequence. However it is generally true that Situation Questions are asked early in the call and all other types of questions follow.
Obtaining Commitment: Closing the Sale
Huthwaite research shows that success in the major sale depends more on how the Investigating stage of the call is handled. So why is everyone so enthralled with Closing? In this chapter Rackham asks the following questions: 1. How many of these closing techniques actually work? 2. In larger sales, how do such factors as price and buyer sophistication influence the success of closing?
What is Closing?
Huthwaite’s definition of Closing: A behavior used by the seller which implies or invites a commitment, so that the buyer’s next statement accepts or denies commitment.
The Consensus on Closing
The consensus among writers on selling seems to be this:
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Closing techniques are strongly related to success. You should use many types of closes. You should close frequently during the call.
Starting the Research
Rackham started his research into closing in the late 1960s. Talking with Salespeople Rackham found that salespeople
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Talked about closing on
Introduction: In this assignment I will be giving information the following point talk about each sales staff must do or be like when working for these different scenarios. Also I have included the sales technique out of four of them: Cold-calling, Face to face, Telemarketing and drop in visits. Also I have included their own personal interpersonal skills of what it takes to be a sales staff to be working for those scenarios, I have also included examples and relevant pictures.
These may include surveys sent to both types of associates in order to determine motivational forces behind selling. While information is gathered, action is not instantaneous. However, the data may be used in the future. The idea is to find the thought patterns behind the action of an individual.
10) When a salesperson is formulating an opening statement to use to approach a buyer, what should the salesperson focus on?
After identifying the sales targets, the strategies, tactics and actions to achieve them can be worked on. Gluck (2014), mentions that to identify underlying strategies and increase sales, a business can break into a new market segment by adapting an existing product or boosting the average sale per customer by using add-on sales or upselling premium features. When developing the sales strategies, the market segment, customers' motivations and expectations, and the capacity to meet customers' expectations should be considered.
What 3 pieces of information should try to find out from your potential customers whilst researching their needs?
Although your old life contains many memories you may wish to forget, you must remember the determination and commitment you always brought to your work. Your desire to succeed first manifested itself at a very young age, but unfortunately your environment did not offer you opportunities to use your good qualities in a positive fashion. However, today, in the field of sales, the same determination that allowed you to succeed in the world of crime can also allow you to excel as a salesperson.
Honestly, I really did not think I would learn much from this class. I have been in different sales ventures many times in my life. In my life I have taken different sales jobs to supplement my husband’s income. Most of these jobs were doing home parties. I sold Mary Kay cosmetics, Aloette cosmetics, and House of Lloyd collectibles just to name a few. I thought I knew a lot about sales, I was wrong. During this class I learned why many of those sales ventures did not work out for me. First, I did not even have a goal except to sell. I basically thought the products would sell themselves. I can’t help but think to myself if I would have taken a class in sales twenty years ago; I could have achieved so much more. Many of the sales techniques in this class would have helped me be a better sales person. I could have used: Planning a sales call as chapter 7 teaches us to pre-approach plan. I would have had my own sales presentation, instead of just the company plans. I would have known about trial closing a prospective customer. With the information in this class I think I could have closed many more of my sales. I also would have followed up with my customers and built relationships.
For example, in the case of an automobile salesperson, the salesperson will ask various questions to find out important information from the potential customer in order to provide the best automobile that will satisfy the needs of the potential buyer, establish a rapport and complete the sale. These questions can include: “What type of car, make or model is he/she looking to purchase?”, “What is the purpose of the purchase?”, “Will the car be used for personal commute or work?”, “What type of options he/she is interested in?” Other questions concerning the trade-in of the current automobile, if any; the price range for the automobile purchase may also be asked. However, questions regarding the potential customer’s credit status must be handled carefully in order to not offend the potential customer. A good salesperson, regardless of the product or service he is trying to sell, will usually ask the appropriate questions to gain the necessary information from the customer that will build a relationship with a satisfied customer that could
What is seen in Jessica's firm is excellent strategic positioning with both firm policy and marketing strategy. Even the post sale interview and the audio accommodation instead of video reflects a keen sense of how to turn every interaction with a client into a future sale or referral. The post sale interview provides an opportunity for the firm identify any weakness in its sales strategy and solidify any processes that are significantly helping the firm's sales process and its
This story is about four unethical real estate salesmen who will do whatever it takes to sell undesirable real estate to uninformed buyers. All four salesmen are feeling the constant pressure of management to close sales, but feel they are given poor sales leads. Shelly Levene is a has-been salesman in his fifties, who finds himself in a terrible sales slump, and worries about losing his job. Shelly eventually bribes his manager, John Williamson, to sell him the Glengarry leads, but doesn’t have the cash in advance that John Williamson requests. Ricky Roma has been rather successful, and outwits James Lingk into buying undesirable real estate, by playing to his sense of adventure. Under strain of constant pressure, Dave Moss and
Jan Hargrave’s sessions at the conference hybrid between the business and sales tracks; however, she feels getting to know important aspects of every track is a must. “The more you know, the better off you are,” says Hargrave. Hargrave also mentions being an expert on one topic is not going to make a Realtor® more successful but compares the different tracks offered at the conference this year to pieces that make a whole
In terms of selling strategy Page believes that individuals should sell the way that their specific consumer buys. Focusing on this statement, Page describes, in the first section, the seven generations of selling which are: 1) Tellers who mainly focus on explaining the features of the product, 2) Sellers are individuals that listen first and talk second, 3) Hunters are individuals that focus on beating the competition,
In the season between summer and winter, there are very specific ways to save money. It's the time of year when shoppers can get the best sale prices, and homeowners can work on their home to save money during winter.
“A-B-C. A-Always, B-Be, C-Closing! Always be closing, always be closing!” This quote, from the film Glengarry Glen Ross, depicts the primary objective for a group of real-estate salespeople employed by the firm Premiere Properties. The salespeople use high-pressure tactics in order to close on their prospective sales from unwitting potential customers, referred to as leads in the film, who often lack the financial stability or desire to invest in real-estate. Unfortunately, while the salespeople know that the “leads are weak,” they are forced to pursue them by the firm and as the film closes, we see how the high-pressure sales tactics can result in frustration and despair for the customer. The mistreatment of customers, one of a business’ most important stakeholder, is unethical and often occurs in the forms of lying, unnecessary upselling and capitalizing on customer vulnerability.
The evolution of selling changed the way salespeople, companies and major industries valued their customer's needs. Each organization would use certain methodologies and techniques that over time would develop, mature and grow to make those organizations much more successful and valued. Also as the customers themselves, started becoming more sophisticated, closing sales took more effort and time. Therefore the salespeople had to be trained differently and have more knowledge about the products and services they were offering. From the 19th century until present, a lot more techniques and methods of sales and selling developed further.