Your sales pitch is a crucial part of any deal. It’s your opening line and your verbal business card that you will be hearing when you meet or call a customer. Because I have been in sales for so long, I am well-versed in the differences between good and bad pitches. In this post I want to discuss the anatomy of a great sales pitch and share some of my favorite sales pitches.
A sales pitch is a short sales presentation where a salesperson briefly describes the company’s benefits and nature in no more than one to two minutes. Sales pitches are sometimes called “elevator pitches” because they can be delivered in a matter of minutes.
Prospects are not being given long presentations by salespeople to sell their products and services. No one has the time and, to be honest with you, it’s not possible to communicate your value proposition in an hour.
They’re called elevator pitches for a reason. I’ll understand your pitch if you give it to me in less than a minute from the lobby to the floor. Salespeople should be able communicate clearly and concisely. You’ll be able to deliver your pitch well and have more time for conversation later.
What’s a Product pitch?
Although similar to a sales pitch it is specific to a product or service. Your product pitch will explain how your product will solve customers’ problems and the distinct benefits it will bring to them.
For example, a sales pitch can be very broad. This is true for a company that offers a variety of services. Your company is being sold as a whole, not just a product or service like a CRM platform.
What’s a Marketing Pitch?
A marketing pitch is a summary of the product or service you want to sell. These are usually short speeches that highlight key features of your company and can be used to network, secure investors or suggest ideas to your manager.
How to Start an Pitch
The most difficult part of a pitch is the beginning. Your pitch must grab the attention of your prospect so they are interested in learning more about your product and how it could benefit their business. Before you can tell prospects about the benefits of your product, however, you need to entice them.
These are the essential elements to include in your pitch.
Always start with the problem. Always start with the problem. If they don’t know the problem, they won’t be willing to hear how your product solves it.
The pitch should be tailored to the vertical. A generic pitch that can be used for any business is not what anyone wants. Find out about their industry to customize your pitch.
Set stakes. What are they willing to risk if they don’t solve the problem with your solution? It doesn’t have to be stated explicitly but it can help you get buy in right away.
These are some ways to start a product pitch. But remember, if you send the pitch via email, it should not exceed thirty seconds.
Begin with a personal story
Start your pitch by focusing on what you are most comfortable with: yourself. Although I don’t believe it is necessary to focus on your pitch solely, I believe that starting with a personal story can help you communicate more authentically and foster empathy.
It is important to not focus on the product’s merits. Many product pitches start with, “This product helped me achieve X results in X time.” ” A great deal. I feel already tired. If they don’t understand the problem, no one cares about the results.
Your personal anecdote must address a problem your product can solve. You can make it as difficult as you like, but don’t forget about being real and relating your story to the business.
Ask a question about the problem you are solving
Ah, the age-old question. Although it’s a cliché, it should not be ignored. A question can be a great way to start a pitch. Once again, the question should be focused on the issue.
Don’t be afraid to ask yes or no questions, but tailor them to the company to which you are pitching. Ask a question that is specific to real estate companies if you are talking with them. It could be as easy as asking a property management company, “Do you spend too much time tracking individual property sales?” This is time that could be spent selling homes to potential buyers. “
Get started with a stat that resonates.
Although it can be very effective to start with a statistic, it must resonate with the audience. It must also provide stakes. What does the statistic have do with the problem? What does the statistic say about your prospect’s potential and what are their critical flaws?
Assume that you are a salesperson for yard care services. It’s a boring and lazy way to start your pitch. This is what you should consider: “50%” of all homes don’t use yard maintenance services. That could result in thousands of dollars being paid each year to HOAs. “
Once you have figured out how to start your pitch, now it is time to deliver the rest. These tips will help you get buy-in within three minutes.