SPIN & SNAP Sales Strategy. Which is Most Effective for You?
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In developing their own sales strategy, successful companies usually adapt their market, product, and brand position to the industry. In other words, the quality of sales leads is important, but understanding how to sell to customers is also important.
To choose the right sales strategy for your company, you need to understand the company first and then decide which sales strategy is the most suitable for your needs. Here are some customer-centric sales strategies.
SNAP selling is offering products effectively without wasting a lot of time for busy customers.
- keep it Simple – explain the product concisely and to-the-point
- be iNvaluable – highlight the uniqueness and value of the product that exceeds competitors’ products
- always Align – make sure the product satisfies the customer’s needs
- raise Priorities – focus on the priorities that the customer has
The SNAP selling strategy is best suited when the brand is already well-known in the industry, in a fast-paced environment, and competes in a highly competitive industry. Salesmen must clearly state product descriptions, inform values that differentiate the brand from the competitors, and align it to customer’s needs so that they can quickly make a purchasing decision. Examples are FMCG products and other ready-to-use products.
In contrast, to SNAP selling which focuses on fast sales efficiency, SPIN selling requires more time because the salesmen ask questions that aim to provoke thought and don’t force the customer until finally, the salesman can precisely suggest the product needed.
- Situation – what is the current condition of the customer
- Problems – experienced by the customer
- Implication – whether the problem will have a bad impact and must be immediately resolved
- Need payoff – how the product can be a solution to these problems
By listening to customer needs, SPIN selling is more effective in building long-lasting relationships and also builds strong trust in the industry, especially for companies that are just starting to enter the market.
Word-of-mouth is very valuable, for example in the construction, insurance, realtor/property business, etc. When companies provide good purchasing experiences to customers, they will share it with others, this will increase the chances of winning new customers.
Usually, companies choose 1 main sales strategy framework that is suitable for the industry, then along with the changing sales situation in the market, the company can also add other techniques on top of the sales framework that has been determined.
But in some cases, companies usually have to combine sales strategies from the start. This can happen when the company offers several types of products or when certain prospects do not fit into the usual strategic framework. If the company’s sales team is adaptable, the company can change its strategy depending on the target customers easily.
How to choose the right sales strategy :
- Use historical sales records to choose the right strategy for the team
- Select a performance metric to monitor your new strategy
- Monitor strategy implementation and its impact on your overall performance
- Review how big the difference between the old and new strategy is to the total sales profit
Tips for implementing a new sales strategy :
- Educate the team on new strategies and why they have to change
- Emphasize how the new strategy will help the team and customers achieve more success
- The sales manager must believe in the success that will be achieved with the new strategy
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