What is a sales pitch?
When most people hear the term 'sales pitch' they imagine a room full of potential clients and a salesperson or sales team going through a slideshow in front of them - like "Shark Tank" or "Dragons' Den".
But a sales pitch is more versatile than that. It can be a script you go through on a call, a two-minute speech you perfect for networking opportunities or the classic presentation in front of decision-makers.
In fact, every time you pick up the phone and tell a lead about your product, or meet someone at a business mixer and give them the lowdown about your product or company, that's a sales pitch.
Most salespeople will go through their sales pitch at least once a week, or even on a daily basis. For sales teams, this is a regularly occurring part of the sales process, so you should have your sales pitch perfected and optimized for every occasion.
Storytelling: The foundation of your sales pitch
As the old sales saying goes: facts tell, but stories sell. This is especially true when putting together your perfect sales pitch.
Here, we'll dive into how to frame your sales pitch around a narrative that engages your prospect and gets them invested in what your solution has to offer.
The problem you solve
It may seem counterintuitive, but a product pitch shouldn't start with the product, it should start with your client's biggest pain points (something that will surely resonate with decision-makers on their side).
The focus of your solution isn't product features or service capabilities. It's about the critical challenges you solve for your customers.
This is why your pitch must begin with a story that highlights a big enough pain you help customers to alleviate - specifically customers in the same industry and market as your prospect.
"I still see so many reps lead a pitch with the features that they love," observes Sophie Cameron, business development representative at CAKE. "While it's great to see they have such passion and believe in what they're selling, this doesn't match the customer's needs.
"So, start by figuring out their problems and pain points, and then tailor the pitch to those. Why did they decide to talk with you in the first place? Which features will help them achieve their goals? Getting the answers to these correct is what will really resonate with your prospect."
A strong opener should focus on a critical change in the prospect's industry, career or life that they must pay attention to. They should consider what you're offering as a new, superior way of doing things. This is how you get your prospect's attention, and it shows that you truly understand them, focusing on their needs rather than yours (making them a lead) is what compels them to keep listening. The role of presenting this change is twofold:
It must show that the opportunity is too great for the prospect to ignore
It should create a sense of urgency by outlining what will happen if they do not take action
By focusing on a change, rather than just the problem alone, you'll create a sense of urgency and encourage prospects to share their thoughts on how this change will affect them. Immediately, you go from persuasion to collaboration. It's a consultative selling approach that works to build a meaningful relationship with your prospects.