A sales pitch is a meticulously crafted, personalised message with an aim to persuade a prospective customer to engage in business with you. Whether it is a sales pitch presentation, an email sales pitch or an elevator pitch, it is vital for businesses to hone their sales pitch into a clear, concise and brief manner, especially as the attention span of people in today’s society dwindles as the adoption of technology skyrockets. A product pitch is similar to a sales pitch, but it is entirely focused on pitching the features and benefits of a single product alone, rather than an idea or service.
Businesses must take advantage of any small window of opportunity to persuade a prospect and convince them why their offering is superior, and how it suits their needs. An effective sales pitch not only helps you optimise your time, but also maximise your efforts. As Ron Malhorta quotes “Underachievement and mediocrity is the result when people are not skilled at optimising their time and maximising their efforts.”
A sales pitch can either be formal or informal. The style and tone of voice should match the environment you are in, the audience you are speaking to, and the nature of the idea, product or service itself. According to a report published by the University of Florida, 20% of top sales reps close 80% of all sales deals, meaning that it is up to the salesperson to perfect their pitch, tone, method, and style of delivery.
The audience may know nothing about the idea, product or service, or they may have previously expressed interest. The average win rate of closing a sale after getting the opportunity to offer a proposal or give a quote, is 47%. Whether or not the deal is closed, largely depends upon the salesperson’s technique and ability to hook the prospect based on the value they offer.
Types of sales pitches include a presentation sales pitch, “elevator” pitch, phone sales pitch, email sales pitch, start-up pitch, cold call pitch, subject line sales pitch, or social media pitch. A combination of sales pitches may be required for a single prospect, across multiple touch points.
How to Write a Sales Pitch
1. Know your prospects needs before offering a tailored solution
The first step in the process of writing a good sales pitch is to identify your target audiences’ needs. The more specific the understanding you have of their needs, the more you are able to offer a tailored solution that enables you to solve their key problems.
By finding answers to the below, you will gain a strong understanding of your target audiences’ needs:
– What is your target audience demographics? (Age, profession, location)
– What is their budget or ideal price range?
– What are their pain points and main challenges?
– How do these challenges affect them on an emotional level?
– What are they currently doing that is not working?
– What is it costing them to remain in the situation they are currently in?
– What are their desired outcomes and overall goals?
By listening with intent, and having deep understanding and knowledge of your offer, you will be able to come up with a well-crafted tailored solution with ease and on the spot if required, as you engage with your prospect. It’s vital to know the specifics of your offer in detail, so you can present your solution with utmost confidence and certainty.
2. Share a story to create a deeper connection with your audience
One of the most powerful and effective methods for a good sales pitch is storytelling, as it acts as a means to tap into your audience’s innate human desires. A successful salesperson will know how to captivate their audience and create an emotional connection with customers, educating them in a way that resonates with them far more deeply than just informative and educational talk alone.
The storytelling technique also helps make a product or service more interesting, which then helps your audience remember your brand. This helps keep you at the forefront of their minds, as they go through the stages of their decision making process.
Lastly, stir your audience’s emotions with your sales pitch. People love to hear about “heroes” who come up against obstacles and what they did to overcome them. Storytelling helps to create a connection with your audience in a way that is deep and meaningful. How well you can connect with your audience will have a lasting impact on the entire length of the customer relationship.
3. Find a hook that pulls at your prospect’s needs and desires
Emotional trigger selling is a technique that ensures the audience creates an emotional connection and bond with your brand and offer, and drives them further towards purchasing. Help your audience to deeply visualize how their life will feel as a result of purchasing your product or service, as pursuing their own personal needs and desires play a major part in their decision making process.
On written forms of copy, according to Copyblogger, 80% of people will read your headline and only 20% will read the rest. When pitching your idea, product or service, consider the below ways to have them become the “heroes” of their own story, through stirring an emotional trigger.
– The feeling that they are more unique, heroic and powerful
– A greater sense of belonging and community
– The joy of having achieved their goals
– Their relationships have improved and they are happier
– A boost in social status amongst their peers
– They are on the path of least resistance and effort
If you can convince your audience that you are the person who can take them from their current state to their desired state, they will not only find a lot more value in your offer, but also be willing to pay a premium price to have those needs and desires met.
Also Read: 13 Leadership Qualities That Make You an Exceptional Leader
4. Emphasize the benefits not just the features
Describing features alone, means you completely miss the key factors that help the target audience understand how those features can improve their lives in beneficial ways.
Listing features are still important however, as describing what the product or service does helps set you apart from your competition. Benefits on the other hand gives your customer a reason to purchase and helps you to justify the current price, or justify your reason to raise the price. The more you understand your audience’s problems and desires, the more you will be able to explain the benefits in a way that suits them specifically, in a tailored fashion.
5. Describe how their life will look after they purchase from you
The more you can describe in detail how their lives will positively change, the more they will be able to visualise it in their minds.
By nature, people seek to fulfill emotions such as happiness, joy, love, connection, significance, belonging, and freedom. Ask questions that prompt them to visualise their life if they purchased your offer. For example, a business coach or mentor could ask their prospect “in what ways would your life change if your business bought in an extra $1,000 a week?”.
Also Read: 7 Mistakes to Avoid During The Closing Remarks of a Speech
6. Be ready to answer any objections
Objections can throw off a great sales pitch. However, if you are prepared, you can overcome the audience’s objections in a natural and smooth manner.
First, you must actively listen and acknowledge your prospects’ concern. Make them feel heard, and understand that their concern is valid. By asking questions about their concern, you can then leverage any social proof, data or references to help back your claims. When done in a relaxed and smooth manner, you can lead the conversation into either closing the sale, or setting a time to follow up. You do not want to react negatively, or act in a defensive manner, as your audience may perceive that you are only in it for the sale, as opposed to acting in their best interests to help them fulfill their needs.
7. Back it up with data and references
Statistics and figures that prove as a testament to the legitimacy and effectiveness of your offering is crucial, as it builds trust and credibility. Testimonials are an example of a reference you can show your audience. 72% of consumers say that testimonials make them trust a company more. This is because consumers are more likely to trust one another, rather than a sales pitch on its own.
Backing up your claims with statistics, as well as future trends, can also influence a person in their decision making process. This way you also educate your customer in a way where they can better foresee and visualise their desired situation.
Final Thoughts
As Ron Malhotra quotes, “Million dollar ideas are common. Million dollar executions are rare.” It is easier to believe you can come up with a sales pitch on the spot, or even “wing it”, however, it is important to venture outside of your comfort zone no matter how uncomfortable it may feel. The more times you present your sales script, the more natural it will feel and the more confident you will become in the process. Your audience will know that you truly care about fulfilling their needs and they will look to you as someone they can trust to help take them from their current state to their desired state.
Frequently Asked Questions (FAQs)
How long should a sales pitch be?
Aim to keep your pitch concise and brief. Constantly refine your pitch by removing any irrelevant information and features that may cause the prospect to experience information overload. Your pitch will vary depending on the format. For example, a cold call sales pitch should be no longer than 8 minutes. According to the conversation intelligence platform, Chorus, 7.5 minutes is the average length of a cold call that converts into the next step in the buyer process.
An email sales pitch should be no longer than 300 words, and a sales presentation should be no longer than 20 minutes. Any longer and you can expect your audience’s attention to wane.
What should be included in a pitch?
Your pitch should be carried out in a passionate and confident manner and include the following:
1 – Introduce yourself in a way that leaves a positive first impression
2 – Share a story in a way that creates a meaningful connection with your audience
3 – Acknowledge the prospects challenges to show you understand their concerns
4 – Highlight the features and benefits of your offer
5 – Present the solution
6 – Ask for the sale with an irresistible call to action
What is an elevator pitch?
An “elevator” pitch is a brief and persuasive description of your idea, product, or service, where you wish to engage the prospect within a short window of opportunity. An elevator pitch is typically no longer than 2 minutes. Within the 2 minute timeframe, you should be able to describe the specific problem you help solve, and the solution you offer in its most simplest terms.
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