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“SPIN Selling” provides a different take on the sales market that shakes the norm and redefines just how we view the approach to closing deals. It offers readers a riveting and pioneering approach to consultative selling that will leave you thinking and acting differently in the meeting room.
Neil Rackham is a British author, consultant, and academic. He is the founder and former president of Huthwaite, Inc. — specializing in providing marketing and sales training for businesses. His research on sales effectiveness began at the University of Sheffield, England. In addition, Neil Rackham has been a visiting professor at the University of Portsmouth. In 2010, he was given a Lifetime Contribution Award by the University Sales Education Foundation.
“Successful people ask a lot more questions during sales calls than do their less successful colleagues.” ~ Neil Rackham
Key points
1
Don’t begin your sale by bombarding a prospect with lots of questions; start by building a relationship
There are many sales methodologies and techniques in the world today that can be overwhelming for sales managers. This is because they might be confused about which one to choose from. SPIN selling is about building a close relationship with prospects to know their needs and then offer your product as the solution.
SPIN is an acronym for:
• Situation
• Problem
• Implication
• Need
The SPIN model was born out of research; Neil Rackham and his team at Huthwaite analyzed above 35,000 sales calls for 12 years. When this SPIN model was first discovered, the team was unsure whether it would help people sell more effectively. This is because their findings were not in line with most existing sales trainings. Also, the team wasn’t sure whether the methods would be easy to learn, so they did not publish their findings for seven years. Finally, they began to train many salespeople in the SPIN methods to find out how to make their theories practical. The aim was that people could become more effective in major sales. Neil Rackham and his team measured the productivity level of the first 1000 people they trained, comparing them with control groups from the same companies. The trained people made 17% more sales than the control groups.
SPIN is an acronym for:
• Situation
• Problem
• Implication
• Need
The SPIN model was born out of research; Neil Rackham and his team at Huthwaite analyzed above 35,000 sales calls for 12 years. When this SPIN model was first discovered, the team was unsure whether it would help people sell more effectively. This is because their findings were not in line with most existing sales trainings. Also, the team wasn’t sure whether the methods would be easy to learn, so they did not publish their findings for seven years. Finally, they began to train many salespeople in the SPIN methods to find out how to make their theories practical. The aim was that people could become more effective in major sales. Neil Rackham and his team measured the productivity level of the first 1000 people they trained, comparing them with control groups from the same companies. The trained people made 17% more sales than the control groups.
Beyond hope, let the model you want to introduce to people be scientifically proven.
In this summary, you will explore larger sales and the skills you need to succeed. You will also be enlightened on the advantages and disadvantages of the SPIN model so you can know if it’s the right choice for you.
The purpose of questions in the larger sale is to uncover Implied Needs and to develop them into Explicit Needs. ~ Neil Rackham
2
Move beyond the rigid stereotype sales techniques by asking the right questions to serve your prospects better
Most sales techniques focus on the smaller scale without regarding value. SPIN selling is majorly on a larger scale; it comes in when the customer base increases. Since this immediately translates to a larger sales scale, products will be targeted at a wider audience. Then, wisdom will demand that you instill a sense of value in the customers’ minds.
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3
Getting more information about the prospects will help you build more trust and value with them
4
Collect data and use this analyzed data to help your sales team stay ahead of the market
5
The SPIN model is beneficial, but there are also a few negatives to applying this model to your sales approach
6
The SPIN model stands true even in today’smarket, working hand in hand with the modern technologies designed for sale
7
The application of the SPIN model to your sales team will ensure it has a much higher success rate of closing deals
8