In a market where every company gains 4 competitors a year and where the percentage of salespeople who reach their quota has dropped by 10% , the power of these words cannot be underestimated.
The concept of sales pitch refers to the speech that sellers use to convince a potential client to buy a certain product or service.
The term, adapted from English, has its origins in a business practice called “elevator pitch” – that is, the time a person would have to convince an investor of an idea, if they greenland email address were to meet him in an elevator.
If you were in that situation, would you know exactly what to say in the one or two minutes before the elevator arrives at its destination? That's exactly what a sales pitch is all about: knowing how to say what the customer wants to hear and capture their attention in the shortest time possible.
We recommend you read: Sales script: what it is and how to make a sales speech .
What is a project pitch?
A project pitch is a speech to present an idea, a product or a service to a potential investor or client . Its objective is to arouse the interlocutor's interest and persuade him to take action, such as investing in your plan or buying what you sell.
In the audiovisual sector, for example, there are pitch rounds : events where several production companies and distributors meet to hear good ideas for films, series and television programmes. If the pitch is successful, it means that the idea will receive investment and be implemented.
What is a sales pitch for?
A sales pitch serves to inform, delight and persuade. Take a look at it in detail:
1. To inform
The first function of the pitch is to inform. First of all, the potential client needs to identify a need that needs to be met or a problem that needs to be solved. In this sense, your speech can help him realize this and open himself to the possibility of a solution – the one you will present next.
Learn how to anticipate customer needs in 5 steps .
2. To enchant
Once the person is aware of their need, the pitch must present your product as something that can help them satisfy it. Here, the secret is to humanize your brand and show that you are looking for a solution that is truly beneficial for the prospect. In other words, you are putting the customer at the center of your actions and intentions.
You may be interested in: Humanizing the brand: what is it and why is it so important?
3. To persuade
Finally, the pitch has the function of persuading the potential client that your brand is the best option. This is the time to explain why your products are better than those of the competition, what your differentials are and how you will be by the person's side even after they complete the purchase.
Get inspired: 4 after-sales service strategies that work .
What are the types of pitch?
There are numerous types of pitches, but six of them are the most common in the business world: elevator pitch, cold pitch, upgrade pitch, follow-up pitch, and social media pitch.
1. Elevator Pitch
An elevator pitch is one in which you have, on average, 90 seconds to present your offer – this is the time it takes an elevator to reach the floor. To be successful with this technique, it is important to introduce yourself and briefly say what you do. Then explain what you want from your interlocutor and conclude with a call to action. The goal is to be captivating from the first word.
2. Cold pitch
In cold pitching , you reach out to people who may have a need that you can meet. The purpose of the interaction is to gain this information and assess whether the person is willing to take action on it.
The main difference with this technique is that you'll be talking about the benefits of the product, not the features . Instead of saying that the phone has 64GB of memory, you can say that the person will have space for all the family photos. Do you see the difference?
We recommend you read: Cold prospecting: 5 tips to win over clients .
3. Upgrade pitch
Another option is the upgrade pitch: this is the speech you give to people who already buy from you, but who could benefit from a more premium product or service . As this is usually accompanied by a price increase, it is important that the customer recognises the value of the change in their life.
You may be interested in: Cross-selling and upselling: how to apply these strategies in your business?
4. Follow-up pitch
The follow-up pitch is the one you use with potential clients who don't return your calls or respond to your emails. Maybe the person is busy, has lost interest, or simply forgot you exist.
Your goal is to reestablish contact, identify what the case is, and act accordingly. Keep in mind that salespeople who understand prospects' objections have a 64% success rate in closing.
