Crafting a sales pitch can be a nerve-wracking process. It needs to capture your prospects’ interests by addressing their needs and proposing a viable solution. It needs to paint a clear picture of how your idea, product, or service will solve a customer’s problem, all while keeping it brief and engaging.
As such, it’s important to know and understand your target audience well enough so you can draw them in and convince them to buy. A successful sales pitch consists of five significant elements.
- Good Sales Plan
The success of your sales pitch lies in how well you’ve prepared beforehand. You must think through each aspect of the pitch ahead of time. Even with prior experience, you can get better results when you have a defined objective and a strategy to achieve it.
Do thorough research on the market and get all the information you need on your product or service. Having a carefully drawn plan helps you clarify the objectives and draw up a concrete roadmap. One way to create a successful sales plan is with a sales template.
Look for the best sales template to help you develop a step-by-step guide. With every step duly outlined, you don’t have to worry about missing something in the process. The various templates used range from mutual action plans to cold calling scripts.
- Defined Problem And Solution
A sales pitch is more about offering a solution to a problem you’ve identified and less about selling. It helps make your prospects see that you’re well aware of the issues they face. When describing the problem, make sure you’re explaining it from the customer’s point of view.
The purpose of defining a problem and solution is to develop a sense of empathy and, hopefully, have the prospect agree with you on how your product or service will tackle the issue. Offer to demonstrate how your proposed solution will help customers, citing instances where the solution has worked. You’d want to relate to the customer as much as possible. (1)
- Powerful Story
You want to leave a lasting impression in the minds of your prospects, which means being more compelling when communicating your points. Adopt a storytelling approach for your speech to make it more immersive and way easier to understand. That way, stories become more engaging and memorable, helping your prospects see the value of your products or services in their respective situations. (2)
Break your speech down into smaller chunks, not forgetting to include how you came up with the idea or product. Because data is crucial, present your prospects with facts from case studies and other credible sources. Striking the ideal balance of data and narrative in your sales pitch enables it to be both informative and engaging.
- Call To Action
Once you’ve shown that your product or service has value by introducing it as a solution to a customer’s issues, the next step is to tell them what they can do about it. This is known as a call to action. In a way, you can say this is the meat of the sales pitch; if it flops here, everything you’ve worked hard up to this point will go down the drain.
The call to action should be detailed, with clear directions as to what the prospects need to do next in the simplest way possible. Incredibly, many sales pitches lack a call to action, thinking they made their intentions evident during the sales pitch. Others are afraid of rejection or don’t know how to transit to this step. Nevertheless, some prospects won’t act unless you ask them to. (3)
- Follow-Up Strategy
Keep in mind that you may not be able to close the deal at the first meeting. In fact, research shows that only just one in 50 sales pitches results in a sale at the first meeting. The other 49 require building a relationship with the prospect by opening a dialogue until the pitch gets a definite answer. (4)
However, be wise and subtle in following up leads to not come off as intrusive or excessive. Such behavior can turn off prospects, making your strategy suffer.
A successful sales pitch has a lot of elements to it. You need to be knowledgeable about what you’re selling and passionate about the problems instead of the products. Understand your pitch as much as you understand your audience. Ultimately, a good sales pitch creates a balance between these elements while still leaving room for improvement to the situations at hand.
- “Is Empathy The Most Important Selling Skill?” https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2021/06/16/is-empathy-the-most-important-selling-skill/?sh=58abb9711505
- “Why Storytelling Is Scientifically Proven To Boost Sales” https://www.yesware.com/blog/storytelling-drives-sales/
- “Why 64% of Salespeople Don’t Close” https://www.actionselling.com/sales-resources/ecoach-newsletter/ecoach-archive/may-2018-issue-168/
- “Why you must follow up leads” https://www.marketingdonut.co.uk/sales/sales-techniques-and-negotiations/why-you-must-follow-up-leads