How to develop a sales pitch.

Sales is one of those areas that many self-employed individuals aren’t comfortable with. I think that’s mostly because we feel we don’t know exactly what to say. But delivering a solid sales pitch is an important skill to learn. So that’s the topic for today’s article.

First let’s explore what a sales pitch is: it’s all the things you say to a potential client to convince them to buy from you. It’s all the reasons that they should buy your product/service, and why they should buy from you instead of from your competitors. It also addresses any possible objections a potential client may have that might prevent them from buying (it’s too expensive, how do I know you will do good work, etc.). In short, it’s a complete, convincing explanation of why someone should by your product/service. 

Elements of a good sales pitch

To deliver a winning pitch, there are a few things you need to make sure you do.

1.       Use your customer’s language

2.       Identify why you are better than your competition

3.       Focus on the benefits of your product/service, not the features

4.       Address objections to buying

5.       Convince the lead to buy now, not later

Now that you know what a sales pitch is, and what it needs to contain, let’s take a look at an example of a so-so one, and work on it to make it better.

Let’s say you’re a marketer who specializes in online marketing, and the following are the main points you use in your sales pitch.

I have 10 years’ experience in online marketing. I will take care of all your SEO optimization, and I will set up your website analytics. My prices are affordable.

Now let’s look at how we can improve that pitch, making sure it contains the 5 elements we mentioned above.

1.       Use your customer’s language

The first thing that probably stands out to you in our sample pitch is that it uses jargon—marketing terms that the average consumer may not understand. That jargon may mean something to you, but it may not mean much to most of your clients. That’s because they aren’t experts in your field and don’t know the same terms you do.

The part of the pitch that says, “I will take care of SEO optimization” is a good example. SEO optimization is the process of making sure your website is structured/written in a way that makes it more likely that search engines such as Google will list you in someone’s search results.

But what if your potential client doesn’t know what SEO optimization is? If you use that jargon, your message would be completely lost. Instead, think of how your client might describe their situation/problem. They may say/think, “I want my website to show up in search results.”

So that’s the type of language you want to use in your pitch. It’s clear, and something that your customer can understand. Here’s the before and after.

Before:  I will take care of all your SEO optimization

After: I will improve your website so it will be more likely to show up in search results

Some people think that by sprinkling jargon into their sales pitch, they will impress their potential clients. But you want to always make sure your message is clear. And that means speaking your lead’s language, using the same words to describe your services that they would use. That way you know they will understand what you are saying.

Of course, if your lead does know these terms, then it would be ok to use them. The point is that you have to know what words your leads are using, and use those, instead of your own. That way your message will resonate with them, and it will also be understood by them.

2. Focus on the benefits not the features.

Many people tend to talk about the features of their product/service. But that’s often not what really sells. What sells is telling people how your product will benefit the buyer.

Example

Feature: I have 10 years’ experience

Benefit: I can handle whatever comes up, and give you peace of mind 

Feature: I have affordable prices

Benefit: I have flexible payment options to suit your budget

Feature: I will take care of SEO optimization

Benefit: I will help make sure your business is found when people search on Google.

Feature: I will set up your website analytics

Benefit: I will set up a system that will tell you which of your webpages people are reading, and which they aren’t, so you know which pages are working, and which need improvement.

3. Identify why you are better than your competition

A key part of your pitch is telling your leads all of the reasons you are their best choice. In order to do this, you have to really understand, on a deep level, what is special about what you do. A main way to do this is to research your competition so you know exactly how you stack up against them.

·         Are their products of higher quality than yours? Lower? The same?

·         Do they offer products/services that you don’t?

·         What do they say about their products/services?

·         What are their prices like?

·         What kind of promotions do they use?

·         What is their after-purchase customer service like?

·         Do they have a return policy?

The idea is that you know enough about your competition so that you can:

a)       Improve your own product/service so that it is better than theirs

b)      Address any questions a lead may have about why they should buy from you instead of “them”

The bottom line is, you want to find out what your competitors do, and then, as much as you can, do it better.

Here’s an example.

Let’s say you find out that your main competitor advertises that they “price match” any other similar service in the city. You then want to make sure you also price match—or better still, have an even better offer (say, price match plus another 5% off).

4. Handle possible objections

Every lead has reasons why they might be hesitant to buy your products/services. It could be that the price is too high, or perhaps they worry that you will take too long to deliver. They might be wondering how good your work is, or how long you’ve been in business. Whatever their objections, you have to be able to address them.

Here are few examples of how to do that.

Objection: “You charge too much”

Answer: My fees are a little higher than other companies. But I work very quickly, and get considerably more done in an hour than other companies. So, with me you get more work done in one hour than you would with other companies. This means the total number of billable hours is less, and therefore your end cost is lower…I also have flexible payment plans, and my hourly fee includes everything, whereas other companies charge you for supplies on top of their hourly fee.

Objection: “How do I know you’ll do quality work?”

Answer: My clients tell me my work is the best they’ve ever seen. Here are some testimonials that show how very pleased my past customers are…

Note: leads won’t always voice their objections, but they’re still thinking them. That’s why you want to address typical objections in your sales pitch, even if your lead doesn’t ask!

5. Have an incentive to buy now

Every good sales pitch includes a reason to buy now, not later. That’s because, generally speaking, a future purchase may never happen. And the more time that passes, the less likely someone is to purchase, or purchase from you. There are, of course, exceptions (e.g. you meet an income tax accountant in July, and he impresses you, but you don’t need him until tax time). But typically, you want to try to get your leads to purchase now, or in the very near future. You do this by building urgency—a reason they need to buy now.

So, how do you create urgency? Here are a few ways.

Run a sale – Having a sale that ends in, say, a week, gives your lead an extra reason to buy now, not later.

Convince them they will save money – For some products/services (e.g. a new, energy efficient water heater) the sooner a customer purchases, the sooner they will start saving money (because the new unit uses less electricity).

Add a bonus if they buy now – This is similar to a sale, but instead of saving money, the customer gets something extra for free. Example: a lawn maintenance company advertises “Buy before March 1 and get a free rose bush.”

Summary

So that’s my summary of what makes a good sales pitch. I recommend you take the information in today’s article and spend some time creating your own pitch. Write it down, then practice it, making a point to remember what you have to say, using each of the 5 elements mentioned. That practice will make it easy, when you are talking to a lead, to remember exactly what to say during your pitch.

Good Luck!