Formula selling
Formula selling refers to a sales technique where a predetermined script or formula is used to persuade potential customers to make a purchase. This approach is often used in retail settings, telemarketing, and door-to-door sales. By following a set formula, salespeople can guide the conversation in a way that is more likely to result in a sale.
One common example of formula selling is the AIDA model, which stands for Attention, Interest, Desire, and Action. This model suggests that in order to make a sale, the salesperson must first grab the customer’s attention, pique their interest in the product, create a desire for it, and finally, prompt them to take action and make a purchase.
Another example of formula selling is the SPIN selling technique, which stands for Situation, Problem, Implication, and Need-payoff. This model focuses on asking the customer probing questions to uncover their needs and then demonstrating how the product can meet those needs.
While formula selling can be effective in closing sales, it is important for salespeople to remember that each customer is unique and may not respond well to a one-size-fits-all approach. Flexibility and adaptability are key to successfully using formula selling techniques.
For more information on formula selling, you can visit the Wikipedia page on sales process engineering.