How to deliver an effective sales pitch?
“I pitch, therefore I am”, said Guy Kawasaki, one of Apple’s first marketing executives back in 1984. And indeed, pitching is part of entrepreneur’s and sales’ DNA, but also part of all of us, no matter the professional background!
Without realizing it, we pitch in front of our friends or colleagues: our ideas, favorite movies, favorite restaurants, or even the book that inspired us the most, and so on.
To pitch means to deliver a short, impactful communication exercise; an effective and impactful presentation of a product/service to convince quickly. It is a vital tool in entrepreneurs and sales and mastering the art of pitching is an essential skill for all business trades.
But how to build a good pitch? Is there a golden rule for a good sales pitch?
For many of us, pitching an idea, project, or product is sometimes intimidating and uncomfortable because it’s far from natural. But don’t panic, the art of pitching can be learned!
Here are five steps on how to deliver a good sales pitch like a PRO!
1. Research on your prospect; get an overview of its company and industry
It’s a cliche to think of a sales pitch as a way to sell a product or service. A pitch should focus on what you can do to solve your prospect’s problem. What are its main struggles, and how could your solution solve them?
To understand your prospect’s needs, you need to start by “investigating” him: who is, how long has he been in his field, what is his background? What are its weaknesses/strengths in the market?
This involves — no doubt — a lot of research on the company, its background, and industry. Before getting deeper into structuring your pitch, it’s essential to do this research which is the foundation of an effective sales pitch: a thorough understanding of your prospect, its business, and the industry.
Without knowing a thing about your prospect, you will not be able to tailor your message to target its needs specifically. Also, without knowing the potential customer, you might only deliver an inauthentic “sales pitch”, without really focusing on your customer — which can be from the beginning a waste of time.
“78% of business buyers are looking for trusted advisors — not just salespeople — who add value to their business.”
SALESFORCE RESEARCH | STATE OF THE CONNECTED CUSTOMER
So before you start structuring your pitch to sell your product/service, do your homework! Find out everything you can regarding the sector of your product/service, use statistics, data, studies to support your exchange, demonstrate the relevance of your project, and boost your credibility.
Also, when you create your pitch, ask yourself — in the preparation step — what is the real benefit that you are going to offer to your prospect and make sure you focus on that benefit that can satisfy your customer’s needs.
2. Connect with your prospect
One of the most common mistakes that salespeople are doing is to jump into their pitch without paying attention to their prospects. Even if your goal is to close the deal, don’t forget about the person in front of you.
Draw attention to the problem your product/service is looking to solve; the need you want to meet — don’t immediately get to the heart of the matter! You can start your discussion by telling an anecdote that happened to you or express a problem that concerns everyone. Then briefly, make the connection with his need, the apparent “pain” of the client, and your solution.
3. Focus your pitch on how you could help your prospect
As mentioned above, the biggest mistake you could make in a sales pitch is to focus only on your product/service, rather than how it can meet the needs of your prospect.
A good pitch comes to underline how your product/service could make your prospect’s life easier, allowing them to manage their business better, or help them to achieve their goals.
You’ve probably seen the movie “The Wolf of Wall Street” — do you remember the scene when the hero, played by Leonardo Di Caprio, asks his colleague to sell his pen:
“Write your name on this piece of paper,” he tells DiCaprio.
When DiCaprio looks around for something to write with, the future salesman replies:
“Oh, you don’t have a pen anymore. Supply and demand, bro.”
Ah! That’s it… So “create the need.”
It is essential to briefly explain how your proposal meets your prospect needs and expectations.
In short, your pitch should show your potential customer how your product/service helps them get from point A to point B.
4. Be authentic and listen to your prospect!
Don’t just listen to what your prospect has to say. Also, pay attention to how he says it, observe his non-verbal communication — if you have a face to face conversation. Does the prospect ask questions? Is the energy in his voice getting louder when you’re speaking about specific points? These are often more essential signals to pay attention to.
Non-technical skills such as listening are essential to converting prospects.
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Make sure you listen to your prospect. No preparation — even a perfect one — replaces attentive and thoughtful listening. Listen to their concerns and try to find a way for your product to address its issues.
On this note, pay attention to the sales script. Nothing kills a pitch’s authenticity more than a scripted and formulated conversation. It’s nice to have discussion points, but when you aim to understand your prospect’s needs, each interaction will be so different that a script is useless.
5. Ask your prospect if he needs clarification
The worst scenario is to believe you delivered a good pitch and then find out later that the sale didn’t happen because the potential customer wasn’t entirely clear on a critical aspect of your product or service.
Avoid all this by allowing your potential customer to ask questions! Once you have explained the value of your product or service, ask your potential customer if there is anything they would like more information about, or if there is something about your product or service that is not clear.
This opens up an extra dialogue between you and your customer — a chance to further explain the value of your offer!
We’ve said it: pitching is the art of convincing. From this perspective, it is understood that words matter as much as attitude. Be inspiring, trust your interlocutor, and be professional to the end. If you get an “NO”, remain positive and remember that you improve with practice.
In conclusion, the best thing you can do before you start structuring your pitch is to prepare: do a lot of research on your prospect and have a solid plan. Deliver your sales pitch with your prospect’s interests in mind, practice active listening, and create an open dialogue. If you do all this, your pitch is more likely to succeed.
Because the pitch can be learned/improved thought exercise, I recommend you Oren Klaff’s book: The Art of the Pitch and the movie: “The Wolf of Wall Street” — if you haven’t seen it yet.
+ If you want to “learn by doing” how to pitch with sales professionals (the sales directors of Deliveroo, Tiller System, Kimono and others), join IconoClass and become a business developer in 4 months: https://www.iconoclass.eu/inscription-iconoclass
