From my experience, this is what I know about SPIN Selling:
Situation- Here, try to get a feel for what your prospect does and how they do it. A brief run-down on their process gives you context so you can ask the right questions moving forward.
Problem- This is the most important part of SPIN Selling in my opinion. You want to ask questions that will help you understand the issues your prospects is facing in their particular situation. Without knowing what problems they’re having, you won’t be able to personalize your pitch and really sell them on your product.
Implication- Here, you want to show your prospect the consequences of their problems. Your prospect may understand what their problem is, but might not realize how much of an impact it’s having on their results. In your case, you can get at how project failures could hurt could hurt your prospect’s company as a whole. Would they lose revenue? Waste resources? Damage their brand? By explicitly emphasizing how their problem is hurting them, you create a sense of urgency to find a solution. This will help you in the next phase.
Need/payoff- Get your prospect to understand exactly how they would benefit from a solution to their problem. For example, this time, you could show a prospect how better project management could increase revenue, put resources to good use, and nurture their brand. Ideally, they’ll automatically see how your solution, specifically, would help them, but you may have to do some hand holding.
A good rule of thumb is to try and quantify your prospect’s losses and potential gains whenever possible. Try to show them, in numbers, how much they are losing by leaving their problems unsolved, and how much they would gain by buying your solution. This will really drive the point home.
Here’s a great article with some sample questions you can ask during each phase: https://www.yesware.com/blog/spin-selling/