SPANCO is the sequence of steps to be followed to achieve sales. The sales process is a systematic approach. SPANCO involves a series of steps that enable a sales force to close more deals, increase margins and make more sales through the pipeline (of contacts). Below is a detailed explanation of each step:
Suspect: This is the identification of the dealer. We need to check who the contact persons within the dealer outlet are and the monetary capabilities of the dealer.
Prospect: Here the salesperson must identify the sales lead and look at the chances of converting that lead into a long-term relationship with the customer.
Approach: This step initiates the touch point of the sales process where the salesperson must analyze what products are to be sold to the customer and from where. Directly or through a sub-dealer.
Negotiation: During this stage, the bargaining starts with the various aspects such as features, pricing etc. By showing the total life-cycle costing to the customer the product can be sold in the mind of the customer.
Closure: The order gets finalized and all negotiations get completed by this stage. The sales person needs to explain to the customer all terms and conditions of the deal and after obtaining consent from the customer the deal is complete.
Order: The order gets delivered to the customer as per the payment terms. The feedback form is taken from the customer so to assess whether the customer expectations have been met or not.
Successful Salespeople Are Passionate
Passion is not just working towards meeting a specific quota for a successful salesperson. Truly passionate salespeople are those who work towards higher goals like excellence and building long-lasting relationships.
The best salespeople are passionate about making a change in people’s lives and work towards it every single day. They know that every part of the sales process is important and do not make the mistake of not taking closing seriously. They are passionate about growing in their careers, making sure they always give their A game.