18 Very Useful Sales and Negotiation Acronyms

 

1. WIFM 
What's in it for me? 

2. SELL
Show, Explain, Lead to benefits, Let them talk

3. ABC 
Always Be Closing. 

The need to be continually moving the customer towards action and agreement within sales discussions  

4. AIDA
Attention, Interest, Desire, Action

This is the basis of all business-advertising.

5. ADAPT
Assessment, Discovery, Activation, Projection, Transition

6. CHaR
Confusion, Humor and Request

7. FAB
Features, Attributes (or Advantages), Benefits

8. LAIR
Listen, Acknowledge, Identify objection, Reverse it

9. LOCATE
Listen, Observe, Combine, Ask, Talk, Empathize

10. SONTTAP
Say Only Nice Things To All People. 

11. SPIN
Situation, Problem, Implication, Need-Payoff

One of the most enduring selling acronyms.

12. SWSWSWN
Some Will, Some Won't, So What, Next.. 

Useful in the selling and cold-calling.

13. BATNA
Used often during negotiations:

Best Alternative To a Negotiated Agreement

14. CHEF Method for reading body language
Cheeks/Chin: When they touch them it is a good sign.
Hands: If they massaging palm against palm, or palm against the back of the other hand it means they have assumed ownership and are ready to buy.
Eyes: The wider the eyes the better.
Friendly: Always a good sign.
People listen more intently to things said in a low voice.

Handling Objections

15. LACE
A four-part objection-handling method.

Listen (Before you can act on the objection)

Accept (Once you have discovered the objection, the next stage is to acknowledge not only the objection but the person, too.)

Commit (you have an ideal opportunity for a trial close.)

Explicit action (Now it is time to address the objections, to take explicit action on the commitments made.)

16. LAARC
Listen, Acknowledge, Assess, Respond, Confirm.

17. LAIR
Listen, Acknowledge, Identify objection, Reverse it.

Prospecting

18. BANT
Budget, Authority, Need, Timeline

The four criteria sales sales reps use to qualify prospects. 

 

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