Zig Ziglar said it best: “People buy on emotion and justify with logic.”
Nowhere else could this be more true than in the context of a sales pitch — whether you’re in front of a group of prospects or trying to sell your idea to a consumer base. In one Harvard Business Review survey, respondents cited passion for the pitch as one of the critical elements of a successful discussion about your products or services. So if you want your presentation to be well-received and your audience to take the desired action, then your sales pitch needs to be rock-solid — and people need to believe what you’re saying.
Before you begin writing out the script, you must understand the following three top reasons why your company needs a strong sales pitch.
When building your company, getting founds is a significant step forward. But for many founders, pitching their ideas is daunting — especially considering you typically only have a few minutes to capture potential investors’ attention, let alone secure capital from them.
Good business pitches help you crystallize your thoughts about your company so that you can better communicate them to potential investors. You'll have more confidence in each step of your journey if you know why it's important to keep going and how each decision fits into the big picture. As a result, prospects will feel more confident in handing over their money to invest in your ideas.
Beyond getting capital, sales pitches are essential for promoting your company to your target audience. It's crucial to know how your product fits into the broader ecosystem and what value it brings to customers, and you need to make sure that there's a market for that value. Your business pitch should clearly articulate how and where you plan to promote your brand and to whom so that investors can understand how they will make a return on their founds.
With these details spelled out in your business pitch, you’ll have the tools needed to create a marketing strategy to promote your brand.
As you create your business pitch, be sure you have a clear understanding of what your target market looks like, including:
• Customer demographics. For example: Who are they? What do they look like? Where do they live? What do they do for fun? How much money do they make? Do they have kids or pets?
• Customer psychographics. What makes them tick? What problems do they face in their everyday lives? How can those issues be addressed through your product or service?
• Customer behavior. What channels are most effective at reaching them? How often should you reach out to them at different stages in the sales funnel — before, during, and after their purchase?
Simply put: The goal is to clearly convey what problem you're solving, how you're solving it, and why people should believe in your solution (and in you).
If you're looking to grow your business, a winning sales pitch can help you attract new customers, partners, and investors. At PitchMonster, we’ve simplified the process of making your pitch irresistible — so you can more quickly convey the problem you’re solving and get the tools and resources needed to uplevel your business.
Using our proven method and easy-to-use tools, you’ll be able to:
• Record and analyze your pitch to make improvements.
• Share feedback with your team.
• Be prepared to handle objections that will inevitably come your way.
• Demonstrate your passion for your product or service.
• Uncover the pain points of your target customer.
• Show why your solution is better than what's currently available on the market.
• Set yourself apart from the competition by highlighting unique selling points like cost savings, time savings, or other benefits.
The three reasons above should be proof enough that you need a good sales conversation in order to achieve your objectives. But how do you know when your pitch is strong?
Start by asking yourself these questions as you analyze your pitch:
• Do I sound like myself? When you listen back on your recording, does it sound like something that would come out of your mouth? If not, then perhaps it's time for a rewrite.
• Am I using language that my audience will understand? Are there any terms or phrases that might not make sense? If so, then consider replacing them with ones that are more relatable.
• What do my peers think? Feedback from your colleagues is invaluable as you are refining your pitch, so don’t be afraid to ask for their thoughts.