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Here’s what we will cover:. SPIN Selling’s relationship to PSS SPIN Selling’s overall objective SPIN Selling’s Four Phases SPIN Selling’s Four Questions SPIN Selling’s relation to success. Read it !. The Psychology of Major-sale Selling by. Bob Scullin July 13, 2014.

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here s what we will cover
Here’s what we will cover:
  • SPIN Selling’s relationship to PSS
  • SPIN Selling’s overall objective
  • SPIN Selling’s Four Phases
  • SPIN Selling’s Four Questions
  • SPIN Selling’s relation to success

Read it !

how spin selling relates to
How SPIN Selling relates to
  • SPIN Selling is what successful brokers use to be successful.
  • If you are already successful, SPIN Selling could help you be even more successful.
  • If you are still chasing success, SPIN Selling can be your road map to success.
  • In any event, it makes sense to do what successful brokers do.

Success

how spin selling relates to1
How SPIN Selling relates to
  • What is SPIN Selling and how do you use it to achieve success in real estate?
  • Today you will learn what SPIN Selling is and how to use it.
  • Today we are going to take apart the process of SPIN Selling.
  • On Monday it will be up to you to put to work what you will learn today.
  • So let’s get started….

Success

slide7

Just do what

successful

brokers do...

spin selling overview
SPIN Selling Overview
  • SPIN Selling demonstrates how to conduct major-sale transactions.
  • There is a difference between selling small-ticket items and big-tickets items.
    • The difference is that small-ticket items are sold on the spot
    • big-ticket items require many sales calls over a prolonged cycle.
pss compared to spin
PSS Compared to Spin
  • Xerox’s Professional Selling Skills training is excellent background for sales in general.
    • It looks for on-the-spot decision making.
  • SPIN Selling prepares the sales professional for engaging in long-term sales relationship.
    • It seeks to create a sales ally who internalizes what the broker is proposing,
    • makes it his own and
    • enables him to sell the proposal in the interval between sales calls.
relationship creates understanding
Relationship Creates Understanding
  • Basically, SPIN Selling is the process of building a relationship with the client…
    • The client grows to trust the broker.
    • The client understands the solution proposed by the broker to solve the client’s problem.
  • This element of understanding is critical because it allows the client to internalize the value of the proposed solution.
    • The client is helped to arrive at the solution himself with the guidance of the broker over the sales cycle.
key concept advance
Key concept: Advance
  • Each sales call must achieve the objective set by the broker before the sales call.
  • The immediate objective will not usually be the signing of a proposal to buy or lease.
  • The objective will be to move one more step closer to long-term goal, to “advance” the process toward the ultimate objective.
  • The broker must determine what “advance” she expects to achieve with each sales call.
career counseling
Career Counseling
  • If the broker understands this process, then a cause of career frustration can be eliminated.
  • The big-ticket sales process will not permit a sale to close quickly.
    • The process will require multiple sales calls.
    • The broker’s job is to make each call advance toward the objective and to accomplish the goal in as few sales calls as possible.
    • The broker must know what the ultimate objective is and how each sales call contributes to achieving the objective.
the long view
The Long View
  • The objective of SPIN Selling is to accomplish a long-term objective
    • not to “close” an immediate sale, as contemplated by Xerox’s Professional Selling Skills
    • The salesperson’s objective is determined in advance
    • The entire cycle seeks to validate the proposed solution
  • SPIN Selling requires patience and maturity, while PSS requires enthusiasm and aggressiveness.
preparation is crucial
Preparation is crucial
  • The importance of preparation cannot be understated.
    • The broker must work backwards in preparing for each sales call so that each meeting advances towards the objective.
    • He must think through how each sales call will lead the client ultimately to trust the broker and accept the proposed solution.
    • He must build client-confidence by demonstrating his competence in each meeting.
climb into the trenches
Climb into the Trenches
  • If the broker does his or her job well…
    • the client will climb into the trench next to the broker
    • the client will fight side by side with the broker to accomplish the proposed objective.
  • The client will climb into the trench because the broker’s proposed solution solves the client’s problems.
  • The process of SPIN Selling has helped…
    • the client to understand the value of the proposed solution as being in the client’s best interest
    • the broker achieve the ultimate objective of collecting the commission.
slide16

Demonstrating Capabilities

Obtaining Commitment

Preliminaries

Investigating

4 Phases of Spin Selling

1 preliminaries

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

1. Preliminaries
  • Warm-up events at the start of the call.
  • There is no one best way to open a sales call.
  • Successful brokers rarely open two calls in the same way.
  • Be careful of the time-worn practice of commenting on client’s personal interests.
1 preliminaries1

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

1. Preliminaries
  • Since large-ticket sale involves multiple sales calls, the importance of preliminaries is minimized.
  • The purpose of preliminaries is to have the client agree that it is legitimate for you to ask questions.
  • In order to do this you must establish:
    • Who you are.
    • Why you are there.
    • Your right to ask questions.
1 preliminaries2

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

1. Preliminaries
  • Don’t worry about appearing smooth and polished.
    • Some of the best salespeople appear nervous, self-conscious or hesitant in the early minutes of a call.
  • The prime stages of preliminaries are the following:
    • Get down to business quickly.
    • Don’t talk too soon about solutions.
    • Concentrate on questions.
slide21

Preliminaries

Investigating

4 Phases of Spin Selling

SPIN QUESTIONS:

Situation Questions

Problem Questions

Implication Questions

Need-payoff Questions

2 investigating

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

2. Investigating
  • Finding out facts, information and needs.
    • Use the SPIN Question sequence:
  • Situation Questions
    • Probes facts, background and what the client is doing now.
    • Asking too many questions bores or irritates the client.
    • Make sure that each question serves a specific purpose.
2 investigating1

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

2. Investigating
  • Problem Questions
    • Probes client problems, difficulties or dissatisfactions.
    • Not very powerful in major-sale situations.
    • Should be used sparingly.
  • Implication Questions
    • Probes the consequences or effects of the problems.
    • Major-sale situations contain a high level of these questions.
    • Crucial element of SPIN Selling process.
    • Increases the client’s perception of value in the solution you offer.
2 investigating2

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

2. Investigating
  • Need-payoff Questions
    • Probes the value, usefulness or utility that the client perceives in a solution.
    • Strongly linked to success in major-sale situations.
    • The SPIN Selling process is flexible and not rigid.
    • The elements may be used sequentially.
    • Don’t be reluctant to interweave the use of various elements.
    • All elements work toward obtaining of the appropriate level of commitment.
2 investigating3

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

2. Investigating
  • Before the call, write down at least three potential problems of the client.
    • Then write down examples of actual questions about these potential problems.
    • Then write down implication questions to uncover implied problems embedded in the preliminary problems uncovered.
  • The purpose of questions is to undercover implied needs and to develop them into explicit needs.
2 investigating4

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

2. Investigating

The central purpose of

Implication Questions

is to identify a problem

that the buyer perceives to be small

and build it up into a problem

large enough to justify action.

slide27

Demonstrating Capabilities

Preliminaries

Investigating

4 Phases of Spin Selling

3 demonstrating capability

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

3. Demonstrating Capability
  • Showing that you have something worthwhile to offer.
    • Make Benefits showing how you meet Explicit Needs that have been expressed.
  • A Benefit is a statement that shows how your solution can help the client.
    • Benefits decline in value as the size of the transaction escalates.
  • The most effective Benefit shows your solution meets an Explicit Need.
3 demonstrating capability1

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

3. Demonstrating Capability
  • The cost of the solution must outweigh the seriousness of the problem.
    • this emphasizes the important of questioning in the investigating stage.
  • Make sure that the solutions proposed are in relation to explicit needs so that the solution has greater impact with the client.
    • The cost and hassle to implement the solution must be counter-balanced by the value the seller has created through the use of implication and need payoff questions.
3 demonstrating capability2

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

3. Demonstrating Capability
  • Which is better…
    • to implement Objection Prevention
    • or to be skilled in Objection Handling?
  • If you can build the value of your solutions, then you are much less likely to face objections.
  • The solution lies in better “needs development” rather than in “objection handling.”
slide31

Demonstrating Capabilities

Obtaining Commitment

Preliminaries

Investigating

4 Phases of Spin Selling

4 obtaining commitment

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

4. Obtaining Commitment
  • Gaining agreement to proceed to further stage of the process.
  • Check that you have covered key concerns.
  • Summarize the Benefits.
  • Propose an appropriate level of client commitment.
4 obtaining commitment1

Investigating

Demonstrating Capability

Obtaining Commitment

Preliminaries

4. Obtaining Commitment
  • As we said earlier, each sales call must achieve the objective set by the broker before the sales call.
  • The immediate objective will not usually be the signing of a proposal to buy or lease.
  • The objective will be to move one more step closer to long-term goal, to “advance” the process toward the ultimate objective.
  • The broker must determine what “advance” she expects to achieve with each sales call.
slide35

Running like crazy…

Reality

Going nowhere fast.

non spin selling a parable1
Non-SPIN Selling: a Parable

SPIN QUESTIONS:

Situation Questions

Problem Questions

Implication Questions

Need-payoff Questions

“Hi, I’m Bob Scullin. I am interested in buying a new Mercedes, but my wife wants me to buy the Lexus. I think that the Mercedes would be a benefit in my business, but my wife likes the design of the Lexus better.

“I don’t have time for a test drive today, but I want my wife to know a little more about the Mercedes so that I can talk her into agreeing with my choice for my the car.

“By the way, I know your cousin.”

What did he learn?

non spin selling a parable2
Non-SPIN Selling: a Parable

SPIN QUESTIONS:

Situation Questions

Problem Questions

Implication Questions

Need-payoff Questions

  • What did he learn?
  • I want to buy a Mercedes.
  • I use my car in my business.
  • My wife does not want me to buy the Mercedes.
  • My wife needs to be sold on buying the Mercedes.
  • I need help in selling her on purchase of the Mercedes.
  • I have a personal relationship with his cousin.
non spin selling a parable3
Non-SPIN Selling: a Parable

SPIN QUESTIONS:

Situation Questions

Problem Questions

Implication Questions

Need-payoff Questions

  • How did he approach the sale opportunity?
  • He never asked what business I was in.
  • He never asked how a high-image car could help in my business.
  • He literally ignored my wife’s presence.
  • He never asked what model I might want to buy.
  • He gave me 30 minutes of features as his sales pitch.
  • He never asked how I knew his cousin.
slide41

Demonstrating Capabilities

Obtaining Commitment

Preliminaries

Investigating

4 Phases of Spin Selling

SPIN QUESTIONS:

Situation Questions

Problem Questions

Implication Questions

Need-payoff Questions

slide42

Just do what

successful

brokers do!

here s what we covered so far
Here’s what we covered so far:
  • SPIN Selling’s relationship to PSS
  • SPIN Selling’s overall objective
  • SPIN Selling’s Four Phases
  • SPIN Selling’s Four Questions
  • SPIN Selling’s relation to success

Read it !

here s what we covered so far1
Here’s what we covered so far:
  • SPIN Selling’s relationship to PSS
  • SPIN Selling’s overall objective
  • SPIN Selling’s Four Phases
  • SPIN Selling’s Four Questions
  • SPIN Selling’s relation to success

Read it !