Leads
What are leads?
A person or organization that is interested in a specific product or service
What are the four components of SPIN selling?
Situation
Problem
Implications
Need-payoff
What are pipelines?
An organized, visual way of tracking potential buyers as they progress through different stages in the purchasing process and buyer’s journey.
Why are leads important in sales?
Leads build connections with customers and can help grow your brand.
How do you describe "need-payoff" in SPIN selling?
Need-payoff questions are questions that lead you to why the customer needs your product and how will it benefit them.
Why are sales pipelines important?
Sales pipelines will help you and your sales team track deals and activities.
What are two ways to generate a lead?
Being social
Connecting with customers
Be a reliable source of information
Ask for referrals
How would you describe "problem" questions during SPIN selling?
Problem questions are questions that lead you to discover the problem a customer is going through and why they are looking for your help.
What are conversions?
Calculations on the percent of customers who move from each point in a sales pipeline
How can we qualify leads?
Ask questions (SPIN Selling)
Asking who, what, where, when, and how to attract and understand your customer.
How would you describe the strategy involved during SPIN selling?
Factors such as listening to your customers, asking questions at the right time, and winning the sale are all key strategic factors during SPIN selling.
What are some components of pipelines?
A list of potential prospective buyers
Your team’s sales process
Revenue targets
Meetings scheduled with colleagues
What is the difference between prospects and suspects?
Prospects are potential leads that are interested in a product, while suspects are highly interested in buying a product.
What is the key objective Neil Rackham says is important during SPIN selling?
"The key is not to close a sale, but to build a relationship."
How can conversions be used to boost revenues?
Conversions can boost revenues by allowing the seller to sort prospects into groups of which ones provide the biggest deal for the company and which ones will be the most valuable.