M330 - SPIN - Chapter 6 Notes
M330 - SPIN - Chapter 6 Notes BUS-M330
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This 2 page Class Notes was uploaded by Lauren Detweiler on Tuesday February 3, 2015. The Class Notes belongs to BUS-M330 at Indiana University taught by Dick Canada in Spring2015. Since its upload, it has received 106 views. For similar materials see Consultative Selling in Business at Indiana University.
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Date Created: 02/03/15
M330 Week 3 SPIN Selling Neil Rackham Chap 6 Preventing Objections I Features and Price Concerns a Customers are more likely to raise price concerns in calls where the seller gives lots of Features i Increases customer s sensitivity to price ii With topofthemarket products price concern created by Features will make people less likely to buy 1 Will ask themselves if the expensive item is worth it b Too many features i On expensive products works against the seller ii Very successful in small sales because increased price concern leads to excitement if the price ends up being lower than the customer initially expected c Treating symptoms or treating causes i The customer s price concern was just a symptom ii The cause was giving too many Features iii Teaching objectionhandling skills would do nothing to prevent price concerns II Advantages and Objections a Objections are a more likely response to Advantage statements than any other buyer behavior b Characteristic sequence of behaviors often seen in sales calls i Problem Question 9 Implied Need 9 Objection c Fundamental cause of Objection seller offered a solution before building up the need i Buyer doesn t feel that the problem has enough value to merit such an expensive solution d Examples of typical objections i Your word processors are too expensive ii Word processors are hard to use iii My people would be resistant to word processors iv Word processors are more hassle than they re worth e Teaching objection handling would treat the symptom but wouldn t alter the cause i The fundamental selling disease jumping in too soon w solutions would remain untreated f The cure i Counterbalance the cost and hassle by creating value through the use of Implication and Needpayoff Questions 1 Attacks the cause of the objection ii Note there will always be objections that arise because the customer has needs your product can t meet or because a competitor has a clear product superiority 1 No objectionprevention technique can do anything to stop these 2 However still can cut objections by more than half using SPIN behaviors to build value g Some sales training programs tell you that the more objections you get in call the more likely you are to be successful i In reality the opposite is true ii More objections 9 less likely to be successful iii Objections are a barrier between you and your customer III Bene ts and SupportApproval a The more Bene ts a seller gives the more approving statements their customers make b Objection handling vs Objection prevention i Handling strategies encourage the seller to give Advantages 1 Much less successful in the larger sale than Prevention strategies ii Prevention strategies the seller rst develops value using Implication and Needpayoff Questions before offering capabilities c There will always be objections but if a seller has an increase in success it IS NOT due to better objectionhandling skills i It is because the seller is less likely to create unnecessary objections d Preventing objections from your customers i Objections early in the call I Probably means that instead of asking questions you ve been prematurely offering solutions and capabilities 2 Cure don t talk about solutions until you ve asked enough questions to develop strong needs ii Objections about value 1 There is a good chance you are not developing needs strongly enough 2 Cure lies in better needs development not in objection handling a Particularly if you re getting a lot of price objections cut down on use of Features and instead concentrate on asking Problem Implication and Needpayoff Questions
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