- What is SPIN Selling?
- The Four Stages of SPIN
- Types of SPIN Selling Questions
- How Does SPIN Selling Compare To…
- SPIN Selling Explained – Video
- Final Thoughts
If you’re looking to improve your sales skills, then you should definitely take a look at SPIN Selling. The SPIN Selling methodology can help you close more deals and make more money.
What is SPIN Selling?
SPIN Selling is an acronym for Situation, Problem, Implication, and Need-Payoff.
The methodology was created by Neil Rackham in the 1980s and is based on a belief that you need to deeply understand the buyer to sell them your product or solution.
The Four Stages of SPIN
Selling with SPIN takes you on a four-stage journey. Let’s dig into each.
Beginning – Rapport Building and Starting the Conversation
Building a relationship with the customer will allow you to ask more challenging questions; questions that need to be answered to craft the best solution possible to their business challenges.
Investigating – Information Gathering and Building Understanding
This is the discovery phase of the process.
During this stage, reps are using SPIN questions to fully understand their challenges, how it is impacting them, and what success ultimately looks like.
Demonstrating – Showing How You Can Meet Needs
Sellers use this stage of SPIN to demonstrate that their solutions can help prospects solve their businss challenges.
This stage builds confidence in their products and in their understanding of what the buyer has articulated.
Finalizing – Closing the Deal
Finally, you are moving the deal towards, and over, the finish line.
Objections will be raised and overcome.
Procurement will be engaged and details worked out.
With skill, the deal with be closed won.
Types of SPIN Selling Questions
Asking the right questions, and then listening, is always key to sales success.
There are four types of questions:
What are the prospect’s actual business challenges?
Example Situation Questions
- Why are you trying to solve this problem now?
- What are you looking to achieve?
- What are the main challenges you’re facing?
- How will you know if you’ve achieved your objectives?
- Who is involved in this decision?
- By when do you need to make a decision?
What are the business challenges?
Example Problem Questions
- Can you describe the problem in more detail?
- What impact is this having on your business?
- What are the consequences of not solving the problem?
- How long have you been experiencing this problem?
- How frequently does this happen?
- What processes do you currently have in place to address the problem?
- Who is responsible for solving the problem?
- How much are you willing to invest to solve this problem?
How are these challenges impacting the business and the individuals?
Example Implication Questions
- How is this problem affecting you?
- What impact is this problem having on your business?
- How is this problem affecting your customers?
- What are the financial implications of this problem?
- How is this problem affecting your employees?
- What are the legal implications of this problem?
- How is this problem impacting your reputation?
How can your solutions help them overcome the challenges and what will that new world look like?
Example Need-Payoff Questions
- How would solving this problem impact your employees?
- What would be the ideal outcome of solving this problem?
- How would solving this problem improve your business?
- What are the benefits of solving this problem?
- How would solving this problem impact your customers?
- What would you be able to do if this problem was solved?
- How would solving this problem impact you?
- What are the risks of not solving this problem?
How Does SPIN Selling Compare To…
The SPIN sales model is a great sales technique, but it’s not the only one out there. Here’s how it compares to some other popular sales methodologies:
The Challenger Sale is all about taking control of the sale and educating the customer.
SPIN selling is similar in that it’s also focused on taking control of the sale and teaching the customer. However, the SPIN sales methodology is more focused on the discovery and understanding of the customer’s needs.
The GAP Sale is about finding the customer’s needs and then filling that needs.
SPIN selling is similar in focusing on finding the customer’s needs. However, SPIN selling focuses more on the discovery stage and understanding the customer’s problem.
Miller Heiman is all about understanding the customer’s buying process.
SPIN is similar in that it’s focused on understanding the customer. However, SPIN selling is more focused on discovery and teaching the customer.
SPIN Selling Explained – Video
SPIN Selling is another solid sales methodology for your business to consider.
If you are using it today, what do you love about it? Where does it fail to meet your needs?