SPIN selling: the essential technique for converting your prospects!
Asking the right questions during a sales meeting is essential for successful prospecting. But knowing how to ask them at the right time is not an easy task. You may sometimes feel that you are being too insistent, or asking too many impertinent questions.
But don't panic! SPIN selling is the solution to your problems. This essential sales technique helps you to choose the questions that will have the greatest impact on your contacts.
These questions, asked methodically and thoughtfully, help you gain your prospect's trust and increase your chances of closing the sale.
But how exactly does the SPIN selling method work? How can using it benefit your sales prospecting? Find out in this article.
What is SPIN selling?
Origins of the method
The SPIN selling method was developed by Neil Rackham in the 70s and 80s. As founder of Huthwaite, a consultancy and advisory agency, he began a wide-ranging research project into sales techniques.
Over the course of a decade, almost thirty people (including himself) analysed 35,000 sales interviews conducted in various countries. The aim was to validate the effectiveness of traditional sales techniques.
👉 It was to his great surprise that Neil realised the ineffectiveness of the sales methods of the time, especially when it came to "big sales".
💡 He realised that by focusing on people's real needs and asking the right questions during the discovery phase, salespeople achieved better conversion rates !
Definition
SPIN selling is a sales technique based on a study showing that listening to the customer is the secret of successful sales prospecting. Contrary to appearances, it is not complex, and is in fact one of the simplest and most effective sales techniques in commercial prospecting.
👉 The SPIN methodology consists of asking the customer 4 types of questions, in a very precise order, in order to methodically follow the 4 stages of their buying process.
The acronym SPIN is broken down into the 4 phases of the sales cycle:
- Situation for the opening phase,
- Problem for the investigation phase,
- Implication for the demonstration phase,
- Need pay-off for the commitment phase.
The 4 phases of SPIN selling
In his book, Neil Rackham sets out 4 phases that can be found in all B-to-B sales and prospecting processes:
1 - Situation: The opening phase
The aim of this first phase is to capture your prospect's attention and establish a relationship of trust. It couldn't be simpler. Take an interest in your prospect and ask open-ended questions using active listening.
👉 Avoid starting by talking about yourself and your products. You should first record the information your prospect gives you, so that you can identify their needs and respond appropriately.
2 - Problem: The investigation phase
This second phase is the most important. It represents the heart of your prospecting strategy. After listening carefully to your prospect, identify their explicit and implicit needs. Try to gain a clear understanding of what is really at stake and how your offer will really help them.
👉 This still isn't the time to talk about you and your offer. This is a second way for you to understand the behaviour and detect the personality of your prospect so that you can present an appropriate sales pitch.
3 - Involvement: The demonstration phase
The third phase of the SPIN method involves (you might say) talking about yourself and your solution. Now that you've fully understood your prospect's needs and challenges, you can present your offer in an appropriate way.
👉 The CAP SONCAS method is a good compromise for adapting your arguments to the profile and character of the person you're talking to.
For example, if your prospect has a "Security" profile, present your offer and its advantages to them in this way (insist on a guarantee, customer service, etc.).
4 - Need pay-off: The commitment phase
The final phase of the SPIN method is to trigger the purchase. But you don't have to. It's a well-known fact that in the B2B sector, customers don't make the sale instantly; the final decision is taken at the highest level of the company.
So this phase can be seen as an ongoing process. The customer has been convinced, but he still has to talk to his colleagues about it, so the buying process isn't over. Nevertheless, you've done most of the work.
👉 If the sale hasn't been closed straight away, make sure you follow up with your prospect. Follow up respectfully and in a way that suits their profile.
For example, if your prospect fits the "Sympathy" profile and you were on a first-name basis during your sales meeting, don't hesitate to do the same by follow-up email.
The 4 SPIN selling questions (examples included)
S: "Situation" questions
Situational questions allow you to establish a link with the prospect and give you information about the context in which he or she is evolving.
Examples of situational questions when selling invoicing software:
- What is your current position?
- How many people do you employ?
- What was your turnover this year?
- How do you currently manage your invoicing?
- How long does it take you to manage all your invoicing tasks during the day/week?
- What is your budget?
- Who is your target audience? Future users of the software?
P: Problem questions
Problem questions will highlight your prospect's concrete needs, enabling you to identify and solve the major problem .
Examples of questions, always in the same sales situation:
- Are you satisfied with the tool you are currently using? If not, why not?
- What are the advantages and disadvantages of using your current invoicing method?
- Are you in a phase of digital transformation?
- On a scale of 0 to 10, how difficult would you say it is for your teams to get to grips with your current tool?
- How often do you encounter technical problems? Who deals with them?
I: "Involvement" questions
Involvement questions will enable your future customer to become aware of the consequences of the problems they listed in the previous phase.
Examples of questions, always in the same sales situation:
- Do these problems affect your overall productivity? In what way?
- Have you trained your teams to use this tool? How much has it cost you?
- Would your sales be up if you didn't have problems with invoicing?
- What could you do with the extra time if administrative tasks were automated?
N: "Need payoff" questions
Need pay-off" questions encourage prospects to think about their future with your product or service.
Examples of questions in the same sales situation:
- If you had efficient software that gave you more time to manage your core business, do you think your KPIs would increase?
- Do you think your customers would be happier if they had access to more efficient invoicing services?
- Do you think your employees would be more productive if time-consuming invoicing tasks were automated?
👉 At the end of the questions, present your solution and your arguments. Use the right arguments, tailored to their expectations for greater results. To do this, adopt the CAB method, which will give your sales pitch more impact.
Article translated from French