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Dr. Greybeard
Dr. Greybeard, Consultant - PHD
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Experience:  Retired DVM w/ Engineering, Acct. and Music Degs. 20+ yrs exp in Ops. Mgt. R&D and New Prod/Mkt Dev
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Sales presentation

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The formula presentation is also highly structured but increases customer interaction by soliciting more information. It follows a prepared outline that directs the overall structure of the presentation but enables the salesperson to gain some customer feedback. This type of presentation begins to shift the focus more to the customer. It still focuses on the product but encourages the customer-through questions, trial closes, and objections-to become more involved in the presentation. The talk/listen ratio changes to more listening (30-40 percent) and less talking (60-70%)
     Formula presentations are based on the simple acronym AIDA, which sums up the buying process. The salesperson must get the customer’s attention, create interest in the product, develop a strong desire for the product, and move the customer to action (buying the product). Moving through the process requires buy-in and agreement, which means customer involvement.
     The formula presentation strategy affords some definite advantages. Both company and salesperson can feel confident that critical information will be conveyed to the customer in a carefully constructed format. Moreover, the more ordered approach means salespeople will be better prepared to handle objections and questions. Finally, incorporating greater customer feedback into the presentation increases the likelihood of product acceptance and purchase.
     On the other hand, if the salesperson does not do a good job of asking questions and anticipating objections, this strategy is not flexible enough to handle more complex selling situations and customer interaction. It is best used when a relationship has been established and the customer will be rebuying. The salesperson is already familiar with the customer’s specific needs and is trying to gain acceptance of a new order, which could be reorder of existing products or the sale of a new product into the customer’s product mix.
     Many companies, including Procter &Gamble, use some type of formula presentation with their frontline sales force. Consumer products salespeople tend to know their customers well and the object is often for them to carry more of an existing product ( more sizes of Crest toothpaste, greater inventories of Bounty paper towels). A highly structured presentation that lets them hit specific selling points in a predetermined formula while still soliciting customer feedback can be very effective. The key to the success of the formula strategy is customer knowledge, since the presentation itself is relatively inflexible. More sophisticated selling situations require different sales presentation strategies.

PS: summarize this article and answer the question:
1. what is the formula sales presentation?
2. What are advantages of the formula sales presentation? Please give the examples.
Submitted: 8 years ago.
Category: General
Expert:  Dr. Greybeard replied 8 years ago.
1. The formula sales presentation is a structured sales method that follows the buyingprocess. The key items are:
-Get the customers attention
-Create interest in the product
-Develop customers desire for the product
- Move to action (purchase of product)

2. The advantages are that both company and salesperson can feel confident that critical information will be conveyed to the customer in a carefully constructed format. Moreover, the more ordered approach means salespeople will be better prepared to handle objections and questions. Finally, incorporating greater customer feedback into the presentation increases the likelihood of product acceptance and purchase.

The formula sales presentation is best used when a relationship has been established and the customer will be rebuying. The salesperson is already familiar with the customers specific needs and is trying to gain acceptance of a new order, which could be reorder of existing products or the sale of a new product into the customers product mix.
Dr. Greybeard, Consultant - PHD
Category: General
Satisfied Customers: 2
Experience: Retired DVM w/ Engineering, Acct. and Music Degs. 20+ yrs exp in Ops. Mgt. R&D and New Prod/Mkt Dev
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