One of the keys to operating as a great entrepreneur is having a good sales pitch.
One of the most challenging aspects of being a small business owner is focusing less on the finances and more on how, where and when you engage and welcome new customers. Differentiating yourself from competitors is the only way to reach out to new customers and win new business. Here are some tips to improve your approach.
- Understand how you’re different from your competition. Truly understanding where and how you are losing business to other companies or providers will help you to clearly identify the difference in your platform and approach and use those discrepancies to your advantage in a sales pitch.
- Understand the needs of your customers. When you are identifying your potential customers, it’s important to understand the entirety of the market. Conducting market research helps you to discover untapped customer needs and establish the viability of your entrepreneurial offering.
- Sell the benefits, not the features. People don’t necessarily want to buy what you do or even what you make. People want to buy whatever it is that will help them out. If you can explain how your product or service benefits an individual customer instead of simply ticking off benefits, you’ll have a more compelling sales pitch.
- Build dialogue. A sales pitch isn’t a one-way, directed message like an advertisement or even a web site. A sales pitch should offer a two-way conversation to build a partnership to create a solution to a client’s pain points. Leave enough room to listen, adapt to what you’re hearing, and have a conversation. Not only will this technique lead to more sales but it also helps establish an ongoing relationship with a client outside of the sales transaction.
- Customize your pitch. One sales pitch simply isn’t going to work for every customer. You’ll be better off if you’re prepared to refine your sales pitch for every customer you approach. Yes, this means doing research on particular customers, industries and specific pain points, but the more knowledgeable you appear, the more likely that your potential customer will trust that you will do everything you can to help them.
- Best different pitch methods. Your sales pitch is about a goal, which is making the sale, and no one technique works best for a given person. The key to discovering your sweet spot in sales is figuring out what is going to get your customers to the sale quickly, honestly and without confusing them. Are you pitching a solution, yourself, your ideas, or your value proposition? Experiment with some different techniques to see what works best for you and your entrepreneurial venture.
- Convert your pitch into results. At the end of your pitch, always highlight how your product or service will benefit your potential customer. Offering supportive statements like customer guarantees, success stories, and testimonials will back up your sales platform and help you land the sale.