What is a sales pitch?
In an age where everything is fast-paced, more and more potential customers expect sales reps to be the same: You're supposed to deliver your value proposition in the time it takes for them to ride an elevator from their floor to the lobby. Your shorter "elevator pitch" should be a condensed yet personalized sales presentation that can quickly show customers how your business can address their pain points.
This first interaction—and the value that you put forth—will determine whether the customer decides to give your offer serious consideration. Your sales pitch is the key that will open the doors to these golden opportunities.
Why is it important to have
a proper sales pitch?
Prospects are bombarded with emails, calls, and ads from numerous businesses vying for their attention. The value you offer—and more importantly, how that value is conveyed—will be what stands out the most. If you are not able to articulate how you can help a client address their challenges quickly and coherently, it will be impossible to convince them to buy what you're selling.
The formula for a great sales pitch
A great sales pitch achieves a lot of things, from bringing out your buyer's curiosity to establishing how your solution resolves their specific pain points. There are different types of sales pitches that can be leveraged across different stops on the buyer's journey, but the core formula of what makes a great sales pitch often stays the same. Let's take a look!
The first step in crafting any decent sales pitch is information. Do your research and gather relevant information about your buyer's industry, trends, challenges, pain points, and more.
13% - The percentage of business people who agree that salespeople understand their needs, So when sales reps take the time to do their groundwork and establish the facts of the challenges faced by their buyers, they are already a step ahead of their competition when it comes to pitching their solution.
Everyone remembers a good story. Stories hold our attention with ease and often change the way we behave. Additionally, only 5% of people recall the numbers thrown at them during a sales pitch, while 63% can recall a story. A good story in your sales pitch makes all the difference between winning or losing your buyer's attention.
A sales pitch without tangible value rings hollow for your customers. One of the most important aspects of your sales pitch will be the demonstrated value your solution brings for the buyer, and how it addresses their pain points better than your competitor. If you're not able to do this convincingly, be ready to hear a lot of "we'll be in touch" at the end of every pitch.
You can do all the research, put together a memorable story, and emphasize your value perfectly, but nothing convinces prospects to take a chance like a good customer story. Have a selection of testimonials, customer success stories, research data, and competitive differentiators on hand so you can use the most relevant ones to make the case for your solution.
Every sales pitch needs to have a strong and clear-cut conclusion to let your prospects know how to take the next steps. It could be anything from an outright purchase (if your solution fits their business perfectly), or a trial of your solution (so they can experience the benefits first hand).
Common sales pitch frameworks you should know
We've seen the elements of a great sales pitch, but you also need to know how you can put them together cohesively. In today's digital-first age, you'll be interacting with prospects across a wide range of channels, including the perennial face-to-face conversations. You need to adapt your sales pitch to the medium in which you'll make the pitch.
One of the most widely used types of sales pitches, the elevator pitch is every sales rep's go-to choice when the opportunity arises to sell to a prospect. You need to walk the prospect through your solution and the benefits it presents to them, all in under 60 seconds. This pitch is meant to grab their attention enough to get you a call or a meeting down the line, where you can have more detailed discussions. Be concise and articulate about who you are, what your business does, and how your prospects can benefit from this relationship.
Emails that drive value
The average professional's inbox is flooded with hundreds of emails every day, which means they have to prioritize their time by going through the ones that actually matter. You have only a short period of time to nab the prospect's attention and make that great first impression.
With a subject line that piques their curiosity and a short email that emphasizes the value your solution brings to their table, your email pitch needs to be convincing enough to give your prospects a reason to skim through it.
Push open the doors of opportunity
with your calls
If you can get a prospective buyer on the other end of a call, your chances of closing improves. Most people aren't very receptive to cold calls, but you have a small window of opportunity to convince the prospect that your solution is worth their time. Here is a framework you can use to build your sales pitch for phone calls.
Approach every call with a positive attitude and introduce yourself with a smile on your face. Avoid sounding monotonous or robotic!
Is it a good time?
Check with the prospect if they have the time to have a conversation; if not, inquire about a better time to call back.
Build a rapport
Start off by letting them know how you got their contact information. Was it a recommendation? Did you connect with them on LinkedIn prior to the call? Or maybe you interacted with them at an event. Let them know.
Build your conversation around their business to identify pain points, and then let them know why they should listen to your offer. Showcase results you've achieved for other businesses like the prospect's!
Make them an offer
Talk to them about your service or solution and how it will help them address their most painful business challenges.
End the call by thanking them for their time and confirming all the details discussed.
Close out the call
Commit with the prospect to a future call, meeting, consultation, or a trial. Set the date, get the details of other decision makers (if any), and leave your contact details with them.
Present your way to success
When you're working with important prospects or trying to close a big deal, the main tool you'll rely on is your sales presentation. This involves a lot more time, effort, and—most importantly—decision makers than any of your other pitches, so you have to be on top of your game to maximize the impact and push your prospect closer towards that buying decision.
A good presentation is always tailored specifically to the prospect's industry or their business. Do your research and understand their pain points to come up with the pitch.
Discuss the problem
You need to showcase the prospect's business challenges and how it impacts them in the long term.
Collate relevant research data, infographics, and quotes to emphasize your points.
Tell a story
A powerful narrative resonates better and makes it easier for prospects to recall your talking points.
Then introduce your solution and how it changes the game for your prospect's business by addressing the challenges you brought up.
Prove the reliability of your solution by bringing up customer testimonials and case studies relevant to the prospect's industry.
End the presentation with a clear call to action for all decision makers involved.
What's next after a sales pitch?
You've reached out to your prospects, you got those meetings scheduled, and you delivered your best pitch possible. What comes next? The first thing you need to ensure is that you address any concerns during the presentation or afterward. If the buying decision is made, then you can go ahead with the tail end of your sales process, but if not, be prepared to make a few follow-ups to confirm whether the prospect still intends to make a purchase.
Augment your sales pitches with the right tool for long-term customer relationships
At the end of the day, your sales pitch is a cog in a much bigger sales machine. Customer data, context, interactions across different channels, and having the ability to connect the dots across these channels is what helps sales reps build meaningful customer relationships. In order to maximize the benefit you see from your perfectly crafted sales pitch, invest in an equally good CRM that can help deliver personalized experiences across your buyer's journey!
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What makes a great sales pitch?
Great sales pitches are personalized and tailored to address the needs and challenges of your prospect. Understand your prospect's business, position your offering as the perfect solution to their challenges, and build a strong story around this by including necessary proof from your existing customers.
What needs to be added in the sales pitch?
The key elements of a great sales pitch are research, data, business challenges, solutions to those challenges, social proof, a clear call to action, and a great story that ties everything together.
How to close a sales pitch
After you've made the pitch, two things are vital. Firstly, try to answer any questions that your prospects have and be ready to address the usual objections that they might raise. Secondly, consistently follow up with the prospect until the deal is closed or the trail goes completely cold.
How long should a sales pitch be?
Professionals value their time and have to prioritize every interaction to focus on the ones that drive value, so keep your initial pitches under 60 seconds, but articulate clearly how your offerings will add value to their business. Create and master an elevator pitch for such occasions.