Creating a Selling Story for your new CPG product? Try this.
If you’re a Cat Man, Sales or Brand executive in the CPG space and launching new products, you know how challenging it is to earn a placement on your retailers’ shelves.
Your retail buyer is busy and doesn’t like to be ‘sold’. Instead of pushing your new product, you need a compelling selling story as to why your product will be a win for the retailer and the category.
Imagine this…
Your company is ready to launch a new product in the next 12-18 months. You’re tasked to secure distribution with your retailers. Along with the primary SKU, getting a yes for the variants would be even better. And of course, you want to get an ideal spot on the planogram.
To be successful, you need a sharp Selling Story — one that works for you as well as any account exec, regardless of their experience and skillset.
Having collaborated with our CPG clients on such situations a few times before, we have landed on a Selling Story formula to develop your new product narrative. Below is our attempt to walk you through each step of the formula, and show you how it can be applied in the real world. Consider this a framework, and adapt it based on your situation.
In the below example, we’re using a hypothetical new product, EggPro, that participates in the Protein Bar category.
Formula to Create your Story Outline
Start by creating this outline on a piece of paper or a document. This will become the foundation of your slide presentation. You will have to do data-digging and analysis, run this by your peers, and iterate this process a couple times in order to come up with a solid outline. You don’t need to perfect it at the get-go. If you can come up with an 80% good outline, that’s a great start.
Next, apply this formula and turn it into a 10-slide Selling Story deck
Use the above Selling Story Formula to develop your Selling Story presentation.
An effective Selling Story always starts with a Key Message. This is what you tell your buyer first before making them go through the entire presentation. This can also serve as your 60-second elevator pitch.
Next, you build slides for each of the elements of Situation, Problem, Solution, etc. that you’ve already identified in your formula. As you build slides, use data, insights and visuals effectively to land your message.
Here's what your Selling Story will look like...
Why use this story structure? Why not jump right into your product’s features and benefits, and “sell” it?
You’re taking your buyer / audience on a journey. The initial level-setting (situation) and problem definition sets up a clear “why care?” up front. Next, data and insights create a credible Solution. This is a better way to “align” with your buyer versus just talking about your product and throwing lots of numbers and data.
Creating a compelling "Selling Story" doesn't need to be complex
The next time when you have to create a ‘New Product-launch’ presentation, see if you can apply this formula and adapt it per your needs.
Let us know if you have any questions or builds on this. Feel free to drop us a line at [email protected]
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OUTKREATE developes retailer-facing presentations for top CPG Cat Man & Insights teams, equipping them for success — be it Top to Tops, Innovation Selling Stories, Line Reviews & JBPs, and more.
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