The DriveSales™ | Here is the 7 step formula to write a winning sales pitch and delight your prospects!
One of the biggest myths existing in the sales domain today is that the best reps are natural-born sellers. Deep analysis of such sales pitches reveals the underlying principles of a successful sales pitch hidden from plain sight. The best reps have a winning formula that is repeatable and scalable helping them win new business.
A major part of the formula boils down to utterly understanding the buyer. Instead of planning on how to sell a solution in the form of a product or service, the sales pitch focus should be bent towards how the product or service can solve a buyer’s problem. That is the core premise around which any sales pitch revolves.
Successful selling is about building a relationship with prospective customers and demonstrating how a product or service offers a direct solution to the buyer’s problem.
Here are seven elements of a great sales pitch that will prove helpful in making powerful connections and a successful seller.
1) Thorough Research:
Salespeople do not utterly understand the buyer’s needs in a majority of cases of unsuccessful sales pitches. Buyer personas and case studies can only capture a few key elements of buyers. Sales reps need to demonstrate to the buyer that they understand them and offer a solution to fix their problems, otherwise there is no connection with them in the sales pitch. Effective sales pitches can never be cookie-cutter scripts that remain unchanged. Savvy sales reps tailor their sales pitch depending on the prospect’s company, end goals, and priorities.
The only way to do this is to research thoroughly the company and the industry, the clients the prospective buyers serve and the pain points they experience which need to be alleviated. This knowledge empowers the sales reps and alludes to the prospective clients that they’re more than just another sale.
2) Captivating Introduction:
Sales pitches are supposed to be dialogues and not monologues. Pulling the prospects into the conversation early on and speaking directly about their needs starts the ball rolling. This should be treated as an elevator pitch focused on creating two or three short sentences. Then, delving into the details, list down every feature of the offer and brainstorm the benefits provided by each feature exhaustively.
One of the most successful ways of latching on to their attention is by starting with the accomplishments or uniqueness of the prospective buyer which is miles away from the sales rep’s priorities. The introduction should be able to build up the curiosity quotient. It should be focused on the premise of learning about the prospect in more detail instead of just schooling them on the product or service presumably needed by them. This attitude of inclusiveness bolsters the argument of solving the prospect’s problem instead of just selling a solution. Asking questions is a tactic that further enhances engagement and grabs the bull of attention by the horns.
3) Strong Value Proposition:
A great sales pitch will always comprise a strong value proposition that strongly resonates with the prospect. A genuinely great value proposition is a statement that paints a clear and concise picture of the brand offering for the prospects. It encompasses the following key pointers:
· The prospect’s problem(s) solved/improved by the product or service.
· The benefits customers can expect and not the features.
· The differentiating factor distinguishing the product/service from the competitors.
4) Powerful Storytelling
One of the old sales industry quotes says: facts tell, but stories sell. This is the bedrock of any sales pitch. Storytelling works because of 2 primary reasons:
· People retain more through stories: A compelling story infuses meaning into facts and data acting as a mnemonic device. Apart from helping prospects to retain insights and information, stories help prospects visualize the benefits through this vivid route, thus transforming vague ideas and making them tangible.
· Appeals to both logic and emotions: Truth be told, purchase and business decisions are decisions generally made with both logic and emotions at play. When listening to stories with meaning and rich imagery, the brain gets stimulated as a whole making the prospects feel the sales pitch instead of just listening to it. For instance, a prospective client may not fully understand the meaning of an average 20% hiring efficiency improvement. But when they can envision the impact of saving INR 10,000 per new hire and speeding up the onboarding process by let’s say three weeks, they realize the value of the product.
Prospects metamorphize from passive observers to active participants and once they can picture themselves in the storyline, they may are more likely to visualize themselves enjoying the successful end. Position the product features as superpowers, the path they must take to reach the desired outcome.
5) Supporting Proofs
Evidence breeds belief. Prospects will always be looking for proof. This is where the other heroes of the sales story — the existing customers and clients play an important role.
· Testimonials — Testimonials should be the primary go-to tools because they come directly from current satisfied customers, they would highlight the benefits relayed to them by using the. Use real client’s pictures to enhance credibility impact.
· Case Studies — Use storytelling to talk about how the current customers are using the products or services and the impact it has generated for them. Then summarise the case studies to highlight the key takeaways making them easier to comprehend.
· Sharing research data — Providing research and data adds credibility to the claims. An industry expert or reputable source helps in linking the stats or benefits to the product and lends more credibility.
· Comparison to competitors — Showcasing the audience the key differentiators.
Apart from these principles, providing extra benefits goes a long way in gaining confidence and approval. Enhancing the offer by going over and above the industry standards by offering benefits of a money-back guarantee, a free trial period, or free shipment adds the final punch to the offer.
6) Unexpected Value
Unexpected Value is the unanticipated value addition received by prospects during a sales meet and should be preferably delivered on every sales encounter.
The primary medium of adding value to sales encounters with prospective clients is by delivering insights. This trains them to view the sales reps as domain experts, trusted advisers, and valuable resources having the capability to help them achieve the desired outcomes. The number of ways to add value is practically limitless. The key is to be prepared for every encounter. Clients and prospects will find each meeting enjoyable and, thus looking forward to continuing the pattern throughout the sales process and long after the sale is closed.
By leading prospects into uncharted territory by introducing an unanticipated need or value relating to something they have overlooked historically or have underestimated something to a certain degree, they are more likely to be open to any further help.
Most sales reps falter at this penultimate juncture of their sales pitches. They fail to provide an explicit invitation to take action due to various reasons such as fear of rejection, believing that they’ve made it obvious enough about their intentions to the customer or they are simply unable to guide the conversation to this stage.
This segment is akin to the conclusion of any dialogue, the raison d’etre of the sales pitch. Right from addressing the pain points, to delivering value, introducing ideas they were unaware of, and backing up the claims with proof finally leads to this stage beyond which the customers need to take action. Giving them clear direction on what has to be done next and making it easy for them to do it.
Sales teams are past the point of giving prospects long presentations to sell products or services. Time and patience are limited resources in today’s era. Elevator pitches have come into existence for the very same reason.
A good salesperson should be able to get their message across in a concise and compelling story. Educating prospects and tapping into their fear of missing out act as powerful motivators to sales closures.
Now, as an effective SALESPERSON! We can do three things from here.
1. Not ignoring the opportunity and blaming the situation for revenue loss.
2. Taking necessary notes and revisiting your sales strategy with a growth mindset.
3. Reach out to The DriveSales™ in case you need any specialized help.
To conclude, what you believe also provides some idea of your development as a consultative salesperson. For more, please be connected to team The DriveSales™ as these are the foundations for our culture and ways of working!