Tuesday, 9 July 2019

Sales pitches are realities for every business owner. Some thrive on them, while others cringe at the thought of standing in front of a group of people, trying to convince them to buy a product or service.

A pitch can either translate into a gain of thousands—even millions—in sales or result in the loss of much-needed revenue. That's why it's crucial to look for ways to up your game. Are you a business owner in need of a sales pitch refresher? Here are some ideas to help you make your pitch better than ever:

1. Prepare like a gladiator

There's no such thing as too much preparation when it comes to sales pitches. You want to know your buyers inside and out before standing in front of them. What are their specific pain points? If you aren't sure, try to schedule a quick exploratory call to discuss, then tailor your presentation to match solutions to each of their needs.

Will you be meeting with the decision-maker at the company? If not, try to reschedule for a time when that person is available. Do you know the challenges faced within your prospect's industry as a whole? If not, do some research. The more you know, the more likely you'll impress your prospective clients during the pitch.

2. Make the pitch a conversation

Memorize what you're going to say and come into the conference room with high energy, a huge smile, and a readiness to answer questions. Before you even begin, open up the presentation to questions. Invite your prospects to stop you at any time if they have comments or concerns. Try to make this experience more of a conversation rather than a monologue. Your potential clients will be more engaged if they are able to talk freely with you throughout the process.

3. Manage objections respectfully

Your prospect may push back on your pitch in several areas and ask hard questions. Be prepared for these objections. As part of your research, make a list of roadblocks to your pitch along with solutions. Practice with a friend or colleague how you'll respond to each of these objections. Try to come up with as many examples as you can so you can be prepared for any contingency that happens in the boardroom.

Think of questions and challenges to your presentations as opportunities for you to shine. Try to handle each question with respect and professionalism. If you don't know the answer to a question, tell them that you'll circle back within 24 hours—and deliver on that promise. Be specific about how you can solve their problems, and don't just focus on your product alone.

4. Listen

The best salespeople listen to their customers. Be prepared to pivot your pitch quickly and seamlessly and allow it to flow with the conversation of the meeting. If your prospect wants to talk about something outside of your pitch, don't fight it. In fact, this may be the perfect opportunity to learn about another pain point, and provide an opening to showcase your solution in a different way.

5. Follow up and ask for referrals

Close your pitch with a clear call to action and a punchy few sentences that hammer home how your offering will help improve the life of your prospect. Then follow up within 24 hours with a call, email and/or hand-written thank you note. Keep the conversation going by asking for a referral to another business that may benefit from your product.

 

The content provided is for informational purposes only. Neither BBVA USA, nor any of its affiliates, is providing legal, tax, or investment advice. You should consult your legal, tax, or financial advisor about your personal situation. Opinions expressed are those of the author(s) and do not necessarily represent the opinions of BBVA USA or any of its affiliates.

Links to third party sites are provided for your convenience and do not constitute an endorsement. BBVA USA does not provide, is not responsible for, and does not guarantee the products, services or overall content available at third party sites. These sites may not have the same privacy, security or accessibility standards. Consult your legal counsel for advice concerning your specific business activities.