How to Eliminate Spin Selling and Earn More Money Faster
Spin selling is an age old strategy that is still being used today, albeit more slowly than it was decades ago. The phrase spin selling comes from a book of the similar name which was published 30 years ago. The spin selling concept however has actually been around much longer than that and was first documented way back in the late 19th century.
The spin selling strategy can really be summed up by one simple word: Customer. There is no customer service in the sales world. Sales people are trained to give their best impression to the customer, they are given little or no freedom to sell anything to anyone, and yet they still end up making big sales. They are trained to believe that the best sales strategy is to take as many customers as possible that they can and try to sell them as much as possible to the highest possible commission that they can negotiate. It is this crm model that is making the sales world so inefficient.
Sales training programs have tried for years to get sales teams to adopt the spin selling methodology. Some of these training programs have been successful and others have not been at all effective. There is also the question of whether or not the time-consuming and labor-intensive spin selling methodology produces any real results at all. In short, the spin selling model seems to not be efficient when it comes to generating new business or maintaining any kind of long-term relationship with current clients. This is despite the fact that sales teams often need to spend a lot of time and money working on these issues.
A relatively new CRM system that is starting to show promise in the sales function is known as Time Tracking. Time tracking, by its very nature, limits the sales team to their own time within a single sale and removes the extraneous task of asking for follow-up or tracking the return on investment. Because Time Tracking eliminates the time-consuming, labor-intensive questions that are often asked during a sales call, it can help salespeople focus more clearly on what they want from the customer. This focus can dramatically improve the success rate of a sale.
When using Time Tracking, it is also possible to eliminate the spin selling aspect completely. Instead of being able to ask prospects to confirm or reaffirm their interest in the product or service, the Time Tracking system will tell a prospect if they have taken the action you would like them to take. If the prospect confirms that they have done what you asked, the customer will know that they are serious about your product or service and can move on to the next stage of the sales process. This eliminates the need for you to waste time asking more than one prospect about taking the action you want them to take, which can easily get out of hand and be an inefficient use of your time and effort. Instead, once the customer has taken the action you want them to take, you can then move on to qualifying and closing more sales and hence earn more money faster.
In addition, when you apply Time Tracking to your sales process, you will be better positioned to know which sales interactions are working and which ones are not. In the usual case, you would ask prospects to enter in their contact information, an indication that they are interested in pursuing your product or service. However, with Time Tracking, you will be able to identify the exact moment when the conversion action took place. This will allow you to identify which of your sales scripts was not effective because the prospect did not really take the action you were asking them to take. With this information, you can create scripts that will work more effectively in your current stages of marketing, thereby earning you more money faster in future sales.