S.P.A.N.C.O – The Sales Mantra

Sales are the front end of a company or firm. The company takes a good number of initiatives to meet the customer’s expectations and sales and marketing are the parallel themes for a company to run efficiently. Sales are contingent upon the attitude of the salesperson – not the attitude of the prospect. A 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 a pipeline (or contacts). Here is a detailed explanation of each step:

·         Suspect (Definition of the target): Here the job of the salesman is to investigate the particular account or customer. Here we need to check the contact person’s authority, a capability of the company to pay and carry out need assessment.

·         Prospect: Here the role of the salesman is to handle the account as “yes to move ahead” or to “drop”.

·         Approach (Analysis evaluation and qualification of requirements, identification of the solution): Here the salespeople need to look at the account to handle in a positive manner. They need to be in touch with the customers to find out the competitors in the account.

·         Negotiation (Negotiation process): Here the pricing takes place, where the salesman needs to be careful. It all depends on how they check their target, profit margin, and customer. 

·         Closing (Finalization of the order): Here the salesman needs to agree with the terms and conditions including price. After signing the agreement with the party the deal is said to be closed.

·         Order Ongoing {Account follow-up (up and cross-selling, etc.)}: Here the Purchase order comes into the picture. Salespeople need to pick the order from the party by agreeing on the terms and conditions (Payment, Delivery).

Hence SPANCO helps the salespeople to handle the situation in a smoother and proper manner. It helps the front end of the company to meet the profit and target. Hence the people need to handle the situation with this tool.

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Keerti Nair

I am a management student with a creative soul. I’m a quick learner and a very ambitious person who believes that the mantra for success is to think out of the box.

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An enthusiastic part-time freelancer who enjoys programming.  His Aim is to build conceptional and analytical products for a better tomorrow with sheer commitment towards becoming better every day and an eagerness to learn from people across different industries.

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