SPIN Project Summary2 - MARK 3337 SPIN Project SPIN Project...

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Unformatted text preview: MARK 3337 SPIN Project SPIN Project • • • • This is an individual role-play assignment. The purpose of this assignment is to improve and assess your ability to ask questions and turn customer responses into actionable recommendations. You will be required to sign-up for a 5 minute time slot where they will execute a SPIN (Situation, Problem, Implication, Need-Payoff) to an assigned buyer. This SPIN will be based on the same buyer profile as the Team Role Play exercise. The SPIN will be worth 25 points. How Do You Sell? What would you do to get someone to buy? How would you approach it? How do you convince them? Why worry about the approach? I don’t know who you are. I don’t know your company. I don’t know your company’s product. I don’t know what your company stands for. I don’t know your company’s don’t customers. customers. I don’t know your company’s reputation. Why should I trust you enough Why to tell you about my problems? to Setting an Agenda Many salespeople find it helpful to Many spend a moment setting an agenda for the meeting. the It helps to establish that the salesperson It and customer will be working together to uncover needs and explore solutions. to Setting an Agenda If you were setting an agenda for your If first meeting with a new customer, what might you want to say? might Setting an Agenda Thus, in setting an agenda, you want to Thus, do three things: do You propose an agenda, You make sure the customer understands the You value of the agenda, and value You get the customer’s input and acceptance You before moving on. before Finding the Need Behind the Need More strategic More “need behind the need” the Need Behind the Need Because our competition is gaining on us Because and we need to be more responsive than they are. they Need Behind the Need Because we need to improve our sales performance. Need We need to equip our sales force with laptop computers. Initial need expressed Using Open and Closed Questions to Discover Needs Have you ever done business with our No, our firm has always used First of bank before? [closed] America bank. I assume, then, that your checking account is currently with First of America? [closed] Yes. If you could design an ideal checking Well, it would pay interest on all idle account for your business, what would money, have no service charges, and it look like? [open] supply a good statement. When you say “good statement,” what exactly do you mean? [open] It should come to us once a month, be easy to follow, and help us reconcile our books quickly. Anything else in an ideal checking account? [open] No, I guess that’s about it. The SPIN® Technique: S = Situation Questions P = Problem Questions I = Implication Questions N = Need Payoff Questions The SPIN® Technique: Situation Questions These are general data-gathering questions These designed to help you find out some basic information. information. Prospects quickly become bored if they hear Prospects too many of them. too Examples: What is your position? How many people do you employ? Try to gather this kind of information before the Try sales call. sales The SPIN® Technique: Problem Questions These are meant to help assess the needs or These problems they might have. problems They provide you the answers to how you can They be the solution be Examples: How many packages are damaged? How do you handle late deliveries? The SPIN® Technique: Implication Questions These questions are asked only after a dissatisfaction has These been identified. been They are designed to help the prospect think about the They ramifications of problems. ramifications They help the buyer realize that the costs of doing nothing They outweigh the cost of the solution. outweigh Examples: What happens if you ship your customer a product that What doesn’t meet specs? doesn’t What does that do to your price as compared to your What competitors? competitors? The SPIN® Technique: Need Payoff Questions When salespeople ask questions about the When usefulness of solving a problem, they are asking need payoff questions. asking Examples: If I can show you a way to eliminate paying overtime If for your operators and therefore reduce your costs, would you be interested? would So if I understand you correctly, a faster stamping So process is important to you? process If the buyer responds negatively to a need If payoff question, the salesperson has not identified a serious need. identified Developing a Strategy for the Presentation Based on the needs identified, the salesperson Based should develop a strategy for how to best should proceed to meet those needs. Consider: Consider: Selecting appropriate product options Determining optimal payment terms Service levels to suggest Presenting the features and benefits in language best suited for the buyer’s social style. Mini Case for MARK 3337 You work for the Wall Street Journal You need to find out why they would need your services Use the SPIN technique SPIN Project Details Team will sign up for the same day ONLY ONE PERSON SIGNS UP FOR TIME SLOT FOR ENTIRE TEAM Each team member will use the SPIN technique You will have 5 minutes to present Professional dress required Questions? ...
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