2007-01-31 How to understand ther high-probability customer's purchase process

Bill Stinnett concludes the Introduction to this book with a remarkable statement: "Now let me be clear: I don't take credit for any of these truths [culled from a variety of other sources]. I didn't make them up. They have been there all along, waiting to be observed. My life's work has been to recognize them and organize them in an effort to advance my own career and yours." Stinnett refers to popular sales methodologies which include Strategic Selling®, Solution Selling®, and SPIN Selling®. Whatever the given methodology, its ultimate outcome is an increase in revenue which, Stinnett duly acknowledges, can be accomplished in three ways: maximizing sales velocity, increasing average "deal size" or the "wallet" share, and increasing customer loyalty and satisfaction.

Throughout Stinnott's narrative, his emphasis is on presenting and then explaining "a winning strategy" (actually an aggregate of several strategies) to increase his reader's understanding of how and why customers buy. The chapter titles for Part 1, "Why Customers Buy," correctly indicate how practical his approach is: What Customers Think About, What Customers Really Want, How Customers Perceive Value and Risk, The Cause and Effect of Business Value, and The Value of Customer Relationships. It should be noted that, along the way, Stinnott also offers excellent advice with regard to all manner of "how not to's" and "why nots" when formulating and then implementing what should be a cohesive, comprehensive, and cost-effective game plan to increase revenue.

To me, some of the most valuable material in the book is presented in Chapter 8 as Stinnott explains how to reverse-engineer the buying process. That is, in Stephen Covey's words, "begin with the end in mind." This is a process by which to identify what must happen before a given customer is ready to buy. Previously in Chapter 2, Stinnott introduced what he calls his "Customer Results Model" which involves a process that begins with fully understanding the prospective buyer's current situation. I agree with Stinnott that there is no inherent value (as perceived by customers) in the solution offered by a given product or service unless it will achieve the prospective buyer's desired outcomes or results. As the former CEO of Home Depot once observed, people don't buy a quarter-inch drill; they buy quarter-inch holes. In this context, the quarter-inch drill fills a gap between a current, often an urgent need and filling it.

One of this book's several reader-friendly devices is the isolation of key points presented in bold face. This facilitates and accelerates frequent review of those points later. For example:

"It's a lot easier to sell somebody something if it's positioned as a way to help them achieve a goal or an objective that they already want to achieve." (Page 15)

" Far more critical than what is valuable and important to your customer is why it is valuable and important to them." (Page 65)

"A deep, meaningful, high-trust relationship with a client who has no business disparity [i.e. compelling need], no motive to take action, or no means to take action even if they did have a motive, equals no sale. It's just a relationship." (Page 105)

"It's not what we do in our sales process, but what the customer does in their buying process, that really matters." (Page 135)

"We should spend 80 percent of our time and effort on the 20 percent of our opportunities that carry a strong urgency, motive, and consequence, because these are the deals that can close." (Page 179)

None of Stinnott's key points is a head-snappy revelation, nor does he make that claim. However, all of them - preferably reviewed in the sequence in which they are presented - offer valuable reminders of where the proper focus and emphasis should be during a high-probability customer's puchase process.

There are dozens of excellent books on the art and science of sales, and this is one of the best.

Well-done!