How to prepare the perfect sales pitch – remember your 5 D’s!
Don’t begin your sales pitch until the customer agrees to buy! If you can accomplish the selling before the pitch, you’re well on your way to success.
Creating the deficit or the need means asking pointed questions. It also means getting the prospect to think and respond in new ways.
It puts the prospect in a situation where he needs, depends on, and has trust in the knowledge of the salesperson based on the questions he has been asked.
The perfect sales pitch takes research and development whereby you can eliminate objections before they occur, ask questions that lead to a commitment before you present, and have confidence that you can overcome any objection during the presentation.
There are five D’s to remember in delivering the sales pitch, they are: Development, Details, Differentiation, Decision Makers, and Delivery.
Be prepared, do your homework; it makes the difference between success and failure.
Following we will examine the five essential elements of a sales pitch.
Make the presentation look professional. Have a clear message. Make sure the message you want to convey comes through to the audience. Spend plenty of time understanding your prospect. If this sounds easy, it’s not, but if you prepare properly your level of success will increase significantly.
If you want to become a top sales professional you must know your customers requirements prior to delivering the sales pitch. You must understand their areas of pain and discomfort. You should know their needs better than they do. Good sales people spend a significant time before the pitch understanding the audience.
Know the client, understand their history, understand the make-up of the management team, and know their performance over the past few years. All this information will assist you in developing pointed questions during the meeting and make them feel comfortable that you understand their needs.
A quality sales pitch weaves a story. It’s essential your pitch weaves the correct message and has the happy ending that you want.
Pay specific attention to the details. The most important details are the information specific to the prospect.
Adjust your pitch to fit their requirements. Personalize the presentation; include their specific requirements in the presentation. The client will appreciate and recognize the extra effort that was put into the pitch. Remember you’re developing the relationship from the beginning; anything that sets you apart from the competition is a benefit for the long-term goal.
Find their Pain! They all have different areas of pain that need to be addressed. Ask my favorite question to the CEO, “ Right before you fall asleep at night and your rubbing your ulcer, what are you thinking about”; if you solve that problem you’re a hero! All companies have areas of pain, whether it’s lack of growth, internal cost pressures, personnel issues, or board room issues, they are all looking for help. If your solutions can assist in relieving their pain, your sales cycle just got significantly shorter!
Establishing market differentiation is one of the most important elements about the sales pitch. If you can’t stand out from the competition, if your prospects don’t see the value proposition in your product, your pitch is over. Go home, this game’s over, get ready for next chance at hitting a home run.
After hearing a thousand sales pitches and reviewing hundreds of business plans, the most significant problem companies have is narrowing down their message into a clear, easy to remember message that can be translated into the prospects requests.
You can’t just say you’re great, you need to show them. State examples, case studies of companies similar to the prospect. Detail how you’ve solved their pain and how successful you made them. If possible, demonstrate how you were able to make their business more successful; either by increasing revenue or gaining market share, these are issues facing CEO’s.
Be prepared to discuss what the competition has said about your company. You should know your shortcomings as well as your differentiators. Address your shortcomings before the prospect brings them up; diffuse the issue before it becomes an issue.
4. DECISION MAKERS
Know your audience and what their respective roles are. Each prospective client will have multiple decision makers; the role of a professional sales person is to know each decision maker and what makes them tick.
Identify your coach. Your coach is the person you’ve developed a close relationship with and is providing you with inside information about what the prospects’ needs are and why the company needs your services.
You will need to identify several other decision makers within the organization that includes several influencers; technical, financial, customer service, these buyers will influence the final decision based specifically to how your product or service will impact their department.
Don’t overlook the influencers, they can make or break a deal. If you understand the prospects pain prior to the sales pitch, you can deliver a targeted pitch that addresses each influencer’s specific needs.
If your product is great, your sales pitch was excellent, but you haven’t made contact with the top decision makers, you’re wasting your time. Your competition may be inferior but have a higher-level relationship that is superior and win the business based on contacts.
Have your best presenter deliver the message. You may only get one chance to make a sales pitch, make it count! Bring in the “A” team.
Practice the presentation before meeting with the prospect. You shouldn’t be reading the presentation for the first time in front of the prospect; you should be delivering the message.
Incorporate several people into the sales pitch. One person talking for a long period of time can get the customer to lose interest. Make sure the content isn’t too technical, if an engineer is presenting, make sure the message doesn’t get lost in a technical discussion.
Never get confrontational with a prospect. You can challenge them without becoming confrontational. Ask questions to make them think, to make them question themselves, don’t be afraid to test your prospect.
The right questions create deficit in the comfort level of the prospect. Most salespeople want their customer to feel more comfort and have more knowledge.
Wrong! The more the customer knows, the less he or she needs you.
Price becomes the main issue when the customer thinks he knows it all. You’ve become a commodity and now they can buy from anyone and the only thing that matters is getting the best price!
Given the five essential requirements for a successful sales pitch are: Development, Details, Differentiation, Decision Makers and Delivery, how can you, as a sales executive improve your win ratio by altering your approach in your next presentation?
In today’s competitive environment, building a successful sales pitch is essential to success of your organization.
It’s imperative that your organization develops a clear message that is consistent within your organization.
There are many solutions in the market today. Companies have options available to them that weren’t available over the last two years. Stay Focused and you will succeed!
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