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.
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.
If you’re struggling to generate the sales you need to make the money you want to make, check out how to influence more people to buy from you. Click here to learn more about the BusinessCPR™ Persuasion Process.