SPANCO Method: Your complete guide to turning prospects into customers

Are you a salesperson looking to optimize your sales process? Do you want to improve your conversion rate and turn more prospects into loyal customers? The SPANCO method might just be the solution you are looking for. As an acronym describing a precise and structured process, SPANCO provides you with a roadmap to effectively navigate the complex world of sales. Each stage, from qualification to closing, is essential in building a solid business relationship. So, how can you leverage this method to boost your sales performance?

What is the SPANCO method?

The SPANCO method is a proven model in the field of sales, particularly effective for salespeople looking to maximize their lead conversion. The term SPANCO is an acronym that encompasses six key stages: Suspect, Prospect, Analysis, Negotiation, Closing, and Purchase Order.

Explanation of the SPANCO stages

Each of these stages represents an opportunity to engage with your prospect and guide them toward an informed purchase decision.

Suspect: identify your targets

The first stage, Suspect, involves creating a list of individuals who could potentially be interested in your product or service. This may include newsletter subscribers, contacts gathered at professional events, or data sourced from purchased databases.

Examples of indicators to use

• Newsletter subscriptions: An indication that people are interested in your field.
• Demographic data: Understanding the characteristics of your targets to better tailor your approach.
• Previous purchase history: Knowing who has already shown interest in your other products.

Creating buyer personas can also prove to be very useful at this stage. It allows you to understand the motivations and concerns of your ideal customers.

Prospect: get in touch with the lead

Once the suspect is identified, the next phase is that of the Prospect. At this stage, you must get in touch with your targets, determine their true needs and motivations, and build a trustful relationship.

Approach tips

1. Use different contact methods: Whether by phone, email, or through social networks, vary your methods to see which ones work best.
2. Personalize your message: Show your prospect that you understand their expectations and motivations.
3. Ask the right questions: This will help you better pinpoint the prospect's needs.

Sample prospecting email

Subject: Optimize your [specific issue] with [your solution]

Hello [Name],

I am reaching out because I believe you could be interested in our solution for [description of your product/service]. We have helped [client example] achieve [benefit obtained].

Would it be possible to discuss how we might assist you?

Best regards,
[Your Name]


Analysis: listen to your prospect

The third stage, Analysis, is crucial. It involves thoroughly understanding your prospect's specific needs. This is where active listening becomes indispensable.

Techniques to implement

• Open-ended questions: Ask questions that require more than a simple yes or no.
• Paraphrasing: Summarize what the client has said to show that you are listening.
• Taking notes: This demonstrates your commitment and helps you respond more effectively later.

Negotiation: build a solid argument

During the Negotiation stage, it is your duty to convert the prospect's interest into a sale.

Building your pitch

Your sales pitch should be constructed in such a way as to address the needs identified during the analysis. Consider answering these questions:

• How does your product solve the prospect's problems?
• What evidence can you provide to support your argument (testimonials, case studies)?
• What are the unique advantages of your proposal?

Example of an effective pitch

"Our solution enables you to reduce your costs by 30% while increasing your efficiency. We have already helped companies like [client name] achieve these results in just 6 months."

Closing: seal the deal

The Closing phase is the moment to finalize the sale. You must ensure that all the terms are clear and accepted.

How to properly close

1. Recap the important terms: Make sure the customer fully understands the price, deadlines, and the nature of the offer.
2. Use incentives: Encourage the final decision by potentially introducing a limited-time offer.

Catchphrases

• "Are you ready to take the next step?"
• "This offer is valid until the end of the week; would you like to secure this rate?"

Purchase Order: ensuring satisfaction

Finally, the last stage is the Purchase Order. This is the moment when the prospect becomes a customer. Efficient order management and rigorous follow-up are essential to reinforce the trust built up to this point.

Actions to take

• Personalized follow-up: Communicate with the customer to ensure that delivery is proceeding smoothly.
• Collect feedback: Gathering post-sale feedback will help you improve your future processes.

Sample follow-up question

"How has your experience with our product been so far? Are there any areas where we could improve?"

Why use the SPANCO method?

Adopting the SPANCO method allows you to implement a systematic and thoughtful approach throughout the sales process. It provides a structure that helps salespeople avoid skipping steps and build trustful relationships with prospects.

Expected benefits

• Improved conversion rate: Thanks to a targeted and personalized approach.
• Performance tracking: You will be able to identify which stages in your sales process need improvement.
• Customer loyalty: With post-sale follow-up, you increase your chances of repeat business.

Final conclusion

Ultimately, the SPANCO method is a powerful tool for any salesperson who wishes to maximize the effectiveness of their sales strategy. By rigorously applying each stage, you not only complete a sale but also build a lasting relationship with your customers.

Are you ready to transform your sales approach by integrating the SPANCO method? Adopt this roadmap and watch your conversion rate improve tangibly.