An effective sales pitch is often harder than expected. It is a two-way street where you have a conversation with the customer, ask real questions, and offer them a solution to the problem they are facing. Effective pitches require a great deal of work and a conscious effort to stay away from a script. With that in mind, there are seven steps to construct the perfect sales pitch.
Do the Due Diligence
Sales pitches are no longer about throwing information at the potential buyer. Instead, they need to be perfectly crafted with the needs of the customer in mind. As a result, it is critical that prior research is done on the potential buyer. This research allows you to highlight the aspects of your business that will be the most beneficial to the consumer. Thus easy alignment between your product or service and the needs of the customer is achieved.
Contact the Right People
All the research and customer information will not help you unless you are contacting the decision maker who controls the purchase. Before the actual sales pitch, ensure that you are talking to the person who not only truly understands the business, but is also a decision maker.
Hook the Audience
It is important to begin the actual sales pitch with a hook, or a short statement to pique the interest of the audience. This component is meant to engage the audience and prepare them for the body of your sales pitch. In addition, the hook is a great place to insert credibility statements. For example, if you provide a medical product or service and are a doctor, the authenticity of your business will rise in the minds of a potential consumer. Overall, this part of a sales pitch sets the stage for the remainder of the presentation.
Solve the Problem
Guy Kawasaki, an author and venture capitalist said, “Enchantment is the purest form of sales. Enchantment is all about changing people’s hearts, minds and actions because you provide them a vision or a way to do things better. The difference between enchantment and simple sales is that with enchantment you have the other person’s best interests at heart.” Customers will always react the best to a product or service that solves a problem. It is your job in a sales pitch to identify this problem and explain why your business best solves that problem. Each pitch should uniquely address the problem of each potential buyer and offer a set of solutions.
Know the Competition
Not only should your sales pitch include solutions to the problems of the potential customer, but it should also address any objections he or she might have. The most common sales objections fall into four categories: budget, authority, need, and time. One common example occurs when the potential buyer currently possess a similar product or service or is considering a competing enterprise. In this instance, you should highlight what differentiates your company from the competition. Ultimately, it takes great amounts of preparation to accomplish this feat, but it greatly increases the likelihood the buyer will be more impressed with your company.
The “Why” Conclusion Statement
The “why” conclusion statement is the most critical component of the sales pitch. It truly informs the audience as to why you provide the superior product or service. When preparing for this part of the pitch it is important to ask yourself, why your product better than your competitors and why it is the best way to solve the aforementioned problem the consumer faces. These points are meant to solidify the importance of your product in the minds of the buyers.
The conclusion is the final component of the sales pitch and it is meant to drive the key points of your business. In addition, it is important to show your passion for the product or service you are selling. This passion will show the buyers why they should also care about your business. Lastly, depending on the content of your hook it may be beneficial to link the conclusion back to the hook in some way.
Following the conclusion, if the buyer has any doubts or concerns they will most likely question you on them. As a result, it is important that you are an expert on every aspect of your business. If you successfully answer their questions and dispel the doubts, your product or service immediately becomes more tempting.
Overall, it is important to remember that an effective sales pitch is not a memorized speech. Each one needs to be uniquely crafted to the needs and problems of each buyer. Ultimately, the previous seven steps provide the backbone necessary to generate the ideal sales pitch. The rest is up to you.
Leung, S. (2014, February 4). How to Make a Good Sales Pitch in 7 Steps. Retrieved June 18, 2019, from https://www.salesforce.com/blog/2014/02/how-to-make-good-sales-pitch.html