Mastering the evaluation process to make informed investment decisions.
Key Takeaways:
- A sales pitch is an important opportunity for sellers to communicate the value of goods and services to buyers.
- The key elements of a sales pitch include the value proposition, social proof, and call to action.
- There are many different types of sales pitches, including demonstrative pitches, email pitches, and consultative sales pitches.
- A great follow-up strategy can be just as influential as the initial sales pitch.
The term sales pitch was first coined over a century ago, as traditional open markets and auctions gave way to scripted sales presentations delivered in print, in person, and over the airwaves. In the current era of short attention spans, sales pitch techniques (and good first impressions) are more important than ever.
In this blog post, we’ll break down the important strategies and techniques behind the most successful sales pitches.
1. Understanding the basics of a sales pitch
A sales pitch is a condensed presentation where a salesperson or marketer explains the nature and benefits of their product or service to potential customers. On the surface, this might seem like a purely creative endeavor, but most successful pitches are created with established basic elements in mind.
These basic elements include the introduction, value proposition, social proof, and call to action. The introduction may be the most important element of all, since the first few sentences can determine whether your audience remains engaged.
The concise value proposition should focus on how your product solves a problem or fills a gap for your target audience, rather than simply listing product bells and whistles. The value proposition should also include an explanation of why your product brings more value than your competitors. This claim should be backed up by social proof in the form of real-world examples, evidence, and testimonials (more on this later).
2. Developing specific sales pitch techniques
While the basic elements of an effective sales pitch have remained consistent, the techniques you choose to adopt play a huge part in determining success or failure. The sales pitch techniques employed to convey the strengths of the product and the presenter include:
- Story-telling elements and humor to enhance engagement
- Personalization of the sales pitch based on intensive research
- Engagement with the audience through thought-provoking questions
- Focusing on benefits rather features
- Addressing common objections
Only 13% of customers believe a salesperson can understand their needs. This surprising statistic may be an opportunity in disguise, highlighting the importance of research and personalization in the sales pitch development process.
3. Mastering the delivery of your sales pitch
Even the best sales pitch will not succeed without the right delivery. A concise message, confident body language, appropriate pacing, and a lively tone of voice dramatically improve the connection with your audience. Opening the presentation with a humorous anecdote can be a good way to break the ice. Interesting, yet simple, graphics or visual aids can also help you capture the audience’s attention.
The best way to ensure your delivery is optimized is to practice. Dry runs with colleagues allow you to gather feedback and fine tune the message, tone, and movements. This repetition also pays dividends by taking your mind off of messaging and memorization during the presentation so you can focus on reading the room and adapting your delivery as needed.
4. Creating a unique selling proposition (USP)
With so many options available to customers, a good sales pitch must distinguish you from the pack. A unique selling proposition (USP) is a statement that speaks directly to the unique features, quality, or price point of your product. Unlike a value proposition that includes a detailed explanation of your products’ selling points, a USP highlights benefits that are unique to your company or product.
The USP can be presented most effectively by focusing on the problems or pain points it alleviates. For example, if many of your customers have concerns about setup time and yours is the only plug-and-play solution on the market, be sure to highlight this differentiator within your sales pitch.
5. Leveraging social proof in your sales pitch
Social proof is an essential sales pitch element that has been redefined by the internet and social media. Social proof refers to feedback, reviews, interviews, and testimonials from real customers that establish value and credibility for your product without varnishing over problems or weaknesses.
Purely organic word of mouth advertising was the original form of social proof, but the digital era has opened many new avenues. Social media platforms like Twitter, Instagram, and YouTube allow organic customer feedback to reach more prospective customers and impact your sales growth strategy quickly. These platforms also produce new marketing tools as user testimonials find their way into the sales pitch and other customer touchpoints.
6. Effective follow-up strategies
The sales pitch can be a make or break moment in the customer relationship, but it is usually not the last stop on the sales journey. In fact, only 2% of sales occur after the initial point of contact. Keep this statistic in mind as you develop a strategy that includes follow-up activities designed to shorten a long sales cycle, such as:
- Personal follow-up phone calls
- Thank you email messages
- Incentivized, limited time offers
Much like the sales pitch, the follow-up strategy should be tailored to the personality, preferences, and history of each customer, and adjusted as needed over time. A well-crafted sales pitch will minimize the resistance and rejection you may encounter as your leads move down your sales funnel.
In conclusion
Over the past century, examples from top sales professionals have demonstrated the elements of a successful sales pitch and the techniques that can be used to optimize delivery. Ultimately, creating and delivering a great sales pitch requires a combination of research, practice, creativity, and an unwavering focus on customer needs.
Sales pitch techniques FAQs
What is the most important part of a sales pitch?
The introduction or opening statement of a sales pitch is often considered the most important since it can set the tone for the entire presentation and establish your credibility in just a few seconds.
How can I make my pitch stand out from competitors?
To differentiate your sales pitch from competitors, research your customers’ pain points, customize your pitch to clearly highlight your USP, and tailor your intro to your audience.
How do I address objections without coming across as defensive?
Active listening to understand the customer’s concerns and asking clarifying follow-up questions are among the best techniques you can use to address objections with facts and evidence rather than emotions.
How many sales pitch techniques should I use in a single pitch?
There are no set rules or guidelines regarding the number of techniques you should use in a sales pitch. Include techniques that make sense for your presentation and continue to adjust your strategy as you gauge the results.
How often should I follow up with potential customers after a pitch?
60% of customers say no four times before saying yes, so persistence certainly pays off. Time your follow-up conversations to respect customer boundaries while providing new information and benefits with each additional touchpoint.
References
https://www.etymonline.com/word/pitch#:~:text=Sales%20pitch%20in%20the%20modern,exhibition”%20(by%201851).
https://blog.hubspot.com/sales/sales-pitch-examples
https://www.rainsalestraining.com/blog/how-to-build-a-value-proposition#:~:text=What%20Does%20Value%20Proposition%20Mean,problem%20than%20other%20similar%20offerings.
https://www.badgermapping.com/blog/best-sales-pitch-tips/#
https://pipeline.zoominfo.com/sales/sales-prospect-research
https://blog.thebrevetgroup.com/21-mind-blowing-sales-stats
https://www.zendesk.com/blog/unique-selling-proposition/#:~:text=A%20unique%20selling%20proposition%E2%80%94or,quality%2C%20feature%2C%20or%20price.
https://www.dooly.ai/blog/sales-follow-up-statistics/
https://www.invespcro.com/blog/sale-follow-ups/