How to add Sales Methods into your Salesforce: SPICED
What is SPICED?
Using the sales methodology, SPICED can help sales reps build trust with their prospects and close deals with less friction. It’s an acronym for the six stages of a successful sales cycle: Situational awareness, Problem discovery, Implication development, Compelling reason to act, Enablement, and Decision.
Developed by Winning by Design, a leading provider of sales consulting and training services that help organizations build and scale their sales operations, SPICED has gained popularity in recent years with Kevin Dorsey, a renowned sales leader, as their Practice Lead. Kevin is a veteran in the field with over a decade of experience, having led sales orgs at companies like SnackNation, ServiceTitan, and PatientPop.
According to a study conducted by Sales Benchmark Index, companies that adopt a structured sales process see an average of 18% revenue growth when compared to those that don't.
SPICED provides a clear framework for sales reps to follow, making it easier for them to navigate the sales cycle and understand where each prospect is in the process. It also helps reps identify and address the specific needs of each prospect, increasing their chances of success.
To practice SPICED, sales reps need to follow the six stages of the sales cycle, which are:
Compelling reason to act
In this stage, reps gather information about the prospect's company, industry, and competitors. This helps them gain a deeper understanding of the prospect's needs and pain points.
Example scenario: The rep researches the prospect's company and industry and learns that they are experiencing slow growth due to a lack of marketing automation tools.
Possible Response: "Based on our research of your company and industry, we noticed that your competitors have been adopting marketing automation tools to drive growth. Have you considered the benefits of implementing a similar solution?"
Here, reps ask open-ended questions to uncover the prospect's challenges and pain points. This stage is critical because it allows reps to position their product or service as a solution to the prospect's problems.
Example scenario: The rep asks the prospect questions about their current marketing processes and uncovers that they are using manual processes that are time-consuming and not effective.
Possible Response: "Can you tell me more about your current marketing processes and how they're working for your business? Have you experienced any pain points or challenges in managing and converting leads?"
In this stage, reps help the prospect understand the implications of not addressing their problems. This helps create a sense of urgency and provides a compelling reason for the prospect to act.
Example scenario: The rep explains how the lack of marketing automation tools is causing the company to miss out on valuable leads and opportunities.
Possible Response: "Without effective marketing automation tools, you might be missing out on valuable leads and opportunities that could lead to business growth. In the long run, this could impact your bottom line and competitive advantage."
Compelling reason to act
Here, reps present a clear and compelling reason for the prospect to take action. This could be in the form of ROI calculations or a demonstration of how the product or service will benefit the prospect's business.
Example scenario: The rep provides ROI calculations showing how the platform will help the prospect save time and increase their revenue.
Possible Response: "Our platform has been shown to increase conversion rates by up to 30% and save businesses up to 50% in time spent on marketing activities. Implementing our solution could provide significant ROI and help you achieve your growth goals."
In this stage, reps provide the prospect with all the information and resources they need to make an informed decision. This could include case studies, product demos, or testimonials from satisfied customers.
Example scenario: The rep provides the prospect with a product demo and case studies from satisfied customers.
Possible Response: "I would be happy to provide you with a product demo to show you how our platform works and how it could benefit your business. Additionally, here are some case studies from businesses similar to yours that have had success with our solution."
This is the final stage of the sales cycle, where the prospect makes a decision about whether to buy. At this stage, reps need to be available to answer any remaining questions and address any concerns the prospect may have.
Example scenario: The prospect needs to make a decision.
Possible Response: "Based on the information we've provided and the feedback you've given us, do you feel that our marketing automation platform could be a good fit for your business? Is there anything else you need to make an informed decision?"
Why choose SPICED over other methodologies?
There are several reasons why you might choose the SPICED sales methodology over another one. Here are a few key data points to support this decision:
Based on research: The SPICED sales methodology is based on Winning by Design's research and experience working with thousands of sales teams. This means that the methodology has been tested and refined to be effective in a variety of industries and situations.
Customer-focused: SPICED is designed to help sales reps understand their customers' needs, pain points, and goals. By focusing on the customer, reps can build trust and rapport, which is key to closing more deals and building long-term relationships.
Adaptable: The SPICED methodology can be adapted to fit the specific needs of different businesses and industries. This means that it can be customized to address the unique challenges and opportunities of each sales cycle.
Results-driven: Winning by Design has reported that sales teams using the SPICED methodology have seen significant increases in win rates and revenue growth. For example, a telecommunications company using SPICED saw a 25% increase in win rates and a 30% increase in deal size.
By practicing SPICED, reps can build trust with their prospects, increase their chances of success, and ultimately drive revenue growth for the organization. Whether you're selling a marketing automation platform or a cybersecurity solution, SPICED can help you close more deals and win more business.
How to Incorporate SPICED in your Salesforce Instance
SPICED is a great tool for qualifying leads, identifying needs, and aligning your product or service with the prospect's business goals. Here's how you can incorporate SPICED into Salesforce:
You'll need to create custom fields in Salesforce to store the data collected at each SPICED stage. Navigate to the Object Manager, select the appropriate object (usually Leads or Opportunities), then select "Fields & Relationships". Click on "New" to create custom fields for each SPICED element. Ensure these fields are added to your page layout.
If you have different sales processes for different products, services, or customer segments, consider creating different record types to match these different processes. Record types allow you to have different page layouts and picklist values for different users.
Use Salesforce's Sales Path feature to provide guidance for each stage of the SPICED methodology. Sales Path allows you to provide tips and guidance at each stage of a sales process. Go to Setup -> User Interface -> Sales Path Settings, then set up a new Sales Path for each stage of your SPICED process.
Reports and Dashboards
Build reports and dashboards to track how effectively your team is using the SPICED methodology. You could, for example, build a report to see how many Opportunities at each stage of SPICED have been converted into sales, or a dashboard to see how well each sales rep is adhering to the SPICED methodology.
Use Salesforce's Process Builder or Workflow Rules to automate some aspects of the SPICED methodology. For instance, you could create a workflow rule that sends an email reminder to a sales rep when an Opportunity has been in the "Impact" stage for too long without progressing.
Training and Adoption
Finally, make sure your sales team is trained on the SPICED methodology and how to use it in Salesforce. Consider creating a training guide or hosting a training session to go over the SPICED fields and the expectations for each stage.
Remember that while technology can support the sales methodology, the success of incorporating SPICED into Salesforce depends largely on how well your team adopts it in their sales process. Always measure, assess, and be ready to adjust if necessary to ensure optimal performance.
More info on SPICED
If you're interested in learning more about the SPICED sales methodology, there are several resources you can check out:
Winning by Design
Winning by Design is the company that developed the SPICED methodology. They offer a variety of resources on their website, including blog posts, case studies, and webinars that dive deeper into the SPICED methodology.
There are several books that cover the SPICED methodology in detail, including "The Sales Acceleration Formula" by Mark Roberge and "Predictable Revenue" by Aaron Ross and Marylou Tyler.
Winning by Design offers training courses and certifications for sales professionals looking to learn more about the SPICED methodology. These courses cover topics such as situational awareness, problem discovery, and enablement.
Webinars and events
Winning by Design regularly hosts webinars and events that cover various aspects of the SPICED methodology. These events provide an opportunity to learn from experts in the field and network with other sales professionals.