Today’s internet savvy buyers get themselves through 83% of their own buyer’s journey when evaluating tech solutions, before ever making contact with a sales rep. So it’s common for sales reps to wonder if their sales pitch is still relevant. Well, it is. Think about it. An effective sales pitch will convince your prospects that your offering is superior to that of competitors. But you only have one chance for your pitch to make an impact. That’s why your pitch needs to deliver an impactful message in a concise manner. Take a look at 5 best practices for communicating an effective sales pitch to modern buyers, with examples for each!
1. Personalize the sales pitch
When creating a sales pitch, it’s important to have background knowledge of the prospect’s unique needs and use case. Only then, can you provide the prospect with relevant information on products and services that solve their prospect’s problem. In fact, 58% of B2B buyers say reps send them information on irrelevant products and services. This causes distrust between the buyer and seller, leading to a low close rate. However, 70% of organizations that have used personalization in their selling initiatives have generated an ROI of 200%. Let’s take a look at a snippet of a personalized sales pitch example below.
2. Help the prospect visualize their future
Some of the best sales pitches enable the prospect to visualize their future. For instance, you can tell the story of how successful the prospect’s business will be with the help of a certain product or service. By visualizing the prospect’s future growth, you build trust with the understanding that both parties want to see the prospect succeed. Below is a sales pitch example from Edward Jones that visualizes a prospect’s future potential.
“Investing isn’t just about creating wealth. It’s about what money can help you do. Build a brighter future for yourself and your loved ones. Or design a better world for all of us. Our single focus is helping you achieve what’s most important to you.”
This pitch helps prospects envision what investing can help them achieve and do. While not explicitly stating the possibilities, the prospect is left imagining their family’s future. This pitch subtly suggests that if they invest today, their future will be full of freedom and incredible opportunities.
3. Share insights from your similar clients
To show proof that your offering is worthwhile, share how your product or service positively impacted other businesses similar to your current prospect’s organization. By providing the prospect with proof that your product or service is successful will encourage the prospect to trust you and view your organization as a viable option. Take a look at the sales pitch example below as it showcases how to leverage your current and past customer insights to attract new customers.
“A financial institution much like [Company Name], experienced 80% better buyer engagement with the help of Prezentor’s sales enablement technology. Through our research we’ve determined that combining visual and auditory tools improves memory 6x more than traditional presentations. I’d love to hop on a 20-minute call with you to discuss how Prezentor can increase buyer engagement in your sales interactions.”
In the example above, the statistics are impactful and impressive. By adding statistics to your sales pitch to back up your claim, the prospect will find you and your company credible. Thus, trust will begin to grow between you and your buyer.
4. Elicit the feeling of FOMO (fear of missing out)
FOMO is an acronym for the fear of missing out. And almost all humans experience the feeling of FOMO at some point in their lives. Basically, FOMO creates a sense of urgency. It’s that feeling of “If I don’t act fast, I’ll miss out on a great opportunity.” FOMO is a great tactic to use in your sales pitches. Approximately, 69% of millennials experience the fear of missing out. And with 56 million millennials currently in the workforce, FOMO is a great tactic to increase your win rates.
But the most effective FOMO sales pitches are ones that are truthful. For example, you wouldn’t want to state a flash sale is only lasting 24 hours when the sale actually lasts all week. This would create a deep sense of distrust between you and your prospect. Instead, you want to be as transparent in your sales pitch as possible.
“89% of insurance advisors are using sales enablement technology to improve their closing ratio. And those that aren’t, are losing customers and failing to find new qualified leads. Where is your business headed?”
This sales pitch example punches prospects right in the gut. Immediately, they start wondering, am I using the right tools? Is this why I haven’t closed as many deals this month? But remember, while you want to elicit the feeling of urgency, be sure to remain truthful and honest.
5. Be empathetic to the prospect’s pain points
Lastly, revolve the pitch around your prospect’s life experiences, hardships, and pain points. It’s likely that the prospect will feel as though you truly care and understand their struggles. It’s a technique that has surpassed the test of time. By pulling on the prospect’s heartstrings, emotions, and biggest struggles, they will be more likely to listen to your pitch. And again, acknowledging a prospect’s pain points builds trust between you and your prospect. Let’s take a look at another example.
“Is [Product/Solution] meeting your needs? Through personal experience, I know the user interface can be cumbersome, leading to increased time spent on admin tasks. [Company Name] is an innovative CRM solution that automates admin tasks, freeing up your time to be spent in value-adding activities.”
This sales pitch example focuses on the prospect’s pain point of not having enough time to focus on meaningful tasks using their current CRM. Then, the pitch provides a solution that will enable the prospect to automate repetitive admin tasks.
All in all, the sales pitch isn’t dead. Yet, when 59% of people are irritated by a generic sales pitch, it’s important to follow these best practices to deliver an innovative and effective sales pitch. Keep in mind, the best thing you can do in any sales interaction is be honest, transparent, and empathic.
If you’re looking for innovative sales solutions, schedule a demo of the Prezentor sales platform and begin your sales transformation journey.