In the seminal book, Major Account Sales Strategy (the follow on to SPIN Selling), Neil Rackham described the stages of the buying cycle as follows:
1). Changes Over Time
2). Recognition of Needs
3). Evaluation of Options
4). Resolution of Concerns
5). Implementation
You can familiarize your self with these stages buy reading the book, or clicking here:
http://www.huthwaite.com/go.cfm?do=Page.View&pid=28
In the next five blogs, I will look at coaching tips you can use to help your salesman move the customer around the buying cycle. Let’s start at the top.
Changes Over Time:
Typical Customer Concerns in this phase:
• Are we satisfied with status quo?
• Do external factors present a threat/problem?
Signs that this phase is over:
• Customer expresses uncertainty and dissatisfaction with current state. May express an implied need.
Common Strategic Errors:
• Assuming your position is secure
• Short cutting the cycle and rushing to solutions
• Failure to leverage front liners for Implied Needs
Coaching Questions and Tips:
• Probing for opportunities?
• Detailed customer knowledge?
• Identified all sources of dissatisfaction and acute pain?
• Deeper account penetration?
Other Key Coaching Questions:
• What else can we help them with?
• What challenges are they experiencing?
• Who else might we talk to?
• Will the client act as a referral?
• Can we document success?
Next, we will look at what most believe is the key stage, Recognition of Needs.
