The SPIN selling method emphasizes understanding and developing a customer’s needs to guide them towards a purchase decision that effectively addresses their concerns.
Primary Implication
If you are a business that lives and dies by persuading people to spend money on large ticket products and services. In this case, SPIN Selling by Neil Rackham is a must-have book for helping you bring prospects through the purchase decision funnel to paying customers.
Overview
An exceptional book on sales by Neil Rackham. SPIN stands for Situation – Problem – Implication – Need Payoff. He defines a need as: “any statement made by the buyer which expresses a want or concern that can be satisfied by the seller.” He goes on to say that the first sign of a need is a slight discontent or dissatisfaction—one that is likely to grow.
According to Rackham, spur-of-the-moment decisions are often irrational and much more common in small sales than in large. As the purchase price becomes more significant, the following factors come into play:
- Needs take longer to develop.
- Needs are likely to involve elements, influences, and inputs from several people and are not simply the wishes of a single individual.
- Needs are more likely to be expressed on a rational basis; even if the customer’s underlying motivation is emotional or irrational, the need will usually require a rational justification.
- A purchasing decision that does not adequately meet the need will likely have a more severe consequence for the decision-maker.
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