- SPIN:
SPIN stands for Situation, Problem, Implication, and Need-Payoff. It is a method of selling developed by Neil Rackham and described in his book "SPIN Selling."
- Situation: The salesperson asks questions to understand the prospect's current situation.
- Problem: The salesperson identifies problems the prospect is facing that the product or service can solve.
- Implication: The salesperson guides the prospect to realize the implications and consequences if the problem isn't solved.
- Need-Payoff: The salesperson gets the prospect to articulate the need for a solution and the payoff of solving the problem.
The SPIN methodology is used mainly in complex sales environments where there's a lot at stake and deals can take a long time to close.
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