No matter how brilliant your business idea is, if you can’t sell it, you can’t launch it.
So its no surprise that a sales pitch is the most important part of the sales process. I’ve sold brand ideas to clients over the phone, online and in person. No matter who they are or what medium I use to communicate with them, my strategy generally stays the same.
1. Know Your Audience
First of all make sure you are talking to the right person. Don’t waste your presentation of non-decision makers. Once you know, use Twitter, Facebook and Linkedin to find our more. This way you can personalise your presentation and make sure it addresses specific point of their business.
2. Keep it Short
Once your meeting is confirmed, find out how time you have to present. I would say atleast least 30 minutes so that you have time to introduce yourself properly, deliver your sales pitch, answer questions and decide next steps. Your sales pitch itself may only take 10 minutes.
3. Create An Emotional Hook
Most sales pitches rely on logical content to convince the audience that it makes sense to buy a product or service. But the reality is that most of us decide what we like and what we dislike first as an emotional response. Then, we find a logical way to justify the decisions that we make when we are asked.
4. Identify Customer Problems
During the cold calling and qualification stage, you will hopefully have identified the specific problems that your prospective customer is trying to solve. This allows you to focus on their problems and how to solve them in your sales pitch. If possible, use the customer’s own words to describe their problems as this will resonate most powerfully with them.
5. Explain the Impact of the Problem
Most companies consider their business within the context of their marketplace. If you want to get on the same wavelength with your audience, it makes sense to show some understanding of the market dynamics and competitive context your prospect in operating in. This then naturally narrows to consider them in more detail. It’s not enough to simply state the problem. You want to talk through how this problem has a negative impact on your customer. It’s also a good idea to quantify this if you can.
6. Show How Current Efforts Don’t Solve the Problem
By this stage, hopefully your customer is convinced that they need your product or service, but if not then you have to confirm a need or there is no sale to be made, Without calling out the names of your competitors, it’s a good idea to explain how competitors do not properly solve the problem. For instance, you might explain that their existing solutions do not integrate with the technology that their customers are currently using.
7. Deliver Your Product or Service As the Solution
After explaining what your product or service does, explain how it benefits the customer and why you provide an advantage over the competition. This is one of the key factors in a good sales pitch. Your customer isn’t always blown away by how many awards you have won. Instead, they want to know how your product will improve their business, make their life easier and save them money.
8. Demonstrate How Your Offering Works
If you don’t go on to unpack your solution and explain how it works, then you are expecting your customer to place too much trust in you too soon. Once you have delivered your value proposition, you need to go on to unpack it to explain exactly how your product or service works. This will be at the heart of your pitch and may take up to 5 minutes. If you have a product that can be demonstrated, then this is the best way to explain to people how it works.
9. Build Testimonials Into Your Sales Pitch
If your business is not already known to your audience, it becomes even more important to provide them with credible third party customer endorsements. No one likes to perceive that they may be taking an unnecessary risk. Sharing positive customer testimonials from other businesses like the one you are pitching to, will help to provide the required reassurance.
10. Set Price Expectations
Explaining what other premium products like your usually cost sharing the cost of your solution, helps to plant a seed in your audience’s mind that this is quality product likely to have a high price. To help with this, you could run through each of the different components in your product or service and explain how much they would cost individually. Then when you reveal the true price, and it seems less expensive.
11. Close Your Pitch
If you have delivered your sales pitch, confirmed a concrete need and covered any concerns that your customer has, then you are ready to close the deal.
12. Ask Questions
As you deliver your sales pitch, it will hopefully become clearer to your audience that your product may be the right solution for them. Be sure to ask questions to confirm their understanding, to confirm their needs and any concerns that you need to cover off before you will be able to ask for the business.
Follow-up on any actions you agreed to perform. For example, provide more information, send through an NDA, schedule another meeting, provide a cost proposal. All the best!