When an entrepreneur fails to convince an investor to invest in his business idea. What mistake do you think he is committing? Without any doubt, the fault lies in its sales pitch.
Nowadays, faced with a growth in the importance of the development of our own businesses. And of setting aside the conception of working as an employee to build the dreams of others. It seems difficult to find someone who does not know what entrepreneurship is.
Although this mentality is already part of the ideology of a large part of the population. There are still many tools and techniques that many are unaware of.
One of the most important techniques is the sales pitch. This is a tool with which we present our idea or product to a group of investors, with the intention that these give us financial support to materialize it and generate income together.
Once this is taken into account, the structure of the sales pitch can be followed. The steps are the following:
1. Start with a question
Similar to how it will occur at the end of the pitch, it is necessary to create the expectation from the first minute. According to multiple professionals, one of the best ways to achieve this is through a question.
In this way, we can provide an introduction to our history, and present the problem immediately, managing to capture the interest of our listeners. Even when they do not know in depth what we are going to talk about.
It is important that we do not ask questions that may be open to interpretation, or that generate complex answers.
The idea is that we ask a simple question with which we can begin to generate a relationship with our audience. And we can also begin to study the environment in which we are going to develop in the next few minutes.
However, it is important that when asking a question with the intention of giving rise to a sales pitch, it is clear that the response (of the majority) will go in favor of what we are going to present.
This means that we must avoid complicated questions, or that, by popular knowledge, will not get a positive response from our listeners. In some cases the answer will be “yes”, and in others, it will be “no”. Everything will depend on the intention with which we formulate it.
It is a principle widely used in everything that is advertising or marketing. As it helps the listener to generate a quick connection with us and increase interest in what we are going to say.
This is the first proof that we know our audience, and also that we are presenting a workshop with a deep process of development.
2. Demonstrate the fight stage
Several experts say that one of the worst mistakes that can be made when presenting a sales pitch is to provide the solution immediately after presenting the problem.
This eliminates the “mystique,” and any possibility of generating empathy in the investor or potential buyer, which can bring great complications before the final result.
Going directly from the problem to the sale can question the credibility of the entrepreneur. Not only for lack of structure at the time of developing a speech. But also because it can generate a perception of impatience. Which is not usually liked by investors or sellers, who prefer something more similar to a talk.
That is why when performing a pitch should show this stage of struggle that we live immediately after discovering the problem.
This does not mean that we have to make a detailed trip about all the mishaps that we encounter along the way, but they do imply that we have certain knowledge on how to develop a possible solution.
This means that we must talk about research we have done, data we could gather in the initial stages. And even with which market professionals we have spoken in order to materialize our idea. Which may include suppliers, distributors, consumer groups, among others…
You may be interested to continue: HOW TO DO A MARKET STUDY FOR YOUR NEW BUSINESS IDEA
3. Be the protagonist, but include others
It is important that when presenting a sales pitch, either to get investors or to sell our product to a prospect.
Not only we focus on placing ourselves as the protagonists of the story, but also we are able to include who listens to us as one of the possible actors that are part of it.
That does not mean that the narrative we have is seen only from the perspective of the investor, much less that we act as if we knew the lives of these people, but it does mean that we must have a much more inclusive approach to this problem that we are proposing.
Whether through questions in which we seek to make these people feel part of the story or through the use of common situations with which most people can identify, part of the protagonist of the story is an essential part of a good pitch
This will always be accompanied by the investigative process that we perform on the investors before whom we will present ourselves or the prospects that we are trying to convince.
By balancing these elements of the so-called ” storytelling”, we are cohesive and coherent, and we will also be creating an emotional bond with those who listen to us and significantly increase the chances that they will decide to invest their money in our idea or product. Keep reading https://diffone.com/business/increase-your-sales-by-using-a-pvc-banner/
4. Keep your pitch concise, but not too
Although it is an aspect that must be studied from the beginning of the creation of the pitch, it is near the end when we must perform a review to check that the duration is appropriate, that is, that it is concise, but not too long.
A sales presentation that lasts very little will make the public not feel satisfied, but if it is the opposite, the listener will feel saturated and possibly lose interest.
That is why we should always take into account the correct distribution of the narrative we have, the data we offer. And the time we use to make calls to action. It is necessary to have an idea of the structure that we will develop from the beginning. And we will have to carry out several tests to polish it in the process.
Sometimes we will be told the exact time we have to make our pitch and present any kind of support material (either audiovisual or prototypes of the product), while in others we will have “the free track”. And that is why we must be very more aware of the task we are carrying out.
Depending on the medium chosen, since it can be done live, by telephone, and even through an email,(the latter case also requires orthographic revisions), the pitch will have a different extension, so it is necessary to investigate enough about who we are going to and how much information they can retain.
5. Use an emotional hook in the closing
Finally, the conclusion of the story, as we explained in the beginning, is where the resolution of the narrative is presented. That means we present the solution we have been developing. And we give that final push to the investor or prospect to give us your money. Although it is the last phase, it does not mean that it is the least weight. But quite the opposite.
That’s because we must again handle two practically opposite aspects. And balance them to get the listener to make a decision based on what we have been telling.
The first element that we must manage is the emotional part. That is, create an emotional hook with which we can put “on our side” to the person who is listening to us.
This is essential since most of the decisions will be born of an emotional impulse. And to generate it, in addition to all the narrative that we have exposed. We will need to create a closing phrase that awakens the emotionality of those who listen to us.
It is a complex step too since we will have to make it awaken, in the first place. An emotional response favorable to our cause. But also, that does not look like a desperate or inappropriate gesture that can alienate these people.
The second element, whose response will depend on how we have carried out the entire sales pitch process, is the rational part, or what is the same, asking the listener if he is interested in buying what we offer or investing in the development of the company.
According to the answer, we will know if the processes of previous research, pitch development. And the presentation of the same was carried out correctly.
Conclusions
In retrospect, the creation of a sales pitch is not a task that should be taken lightly. Since this will depend on the success rate we have when presenting our product or company to investors or other important figures. Which means that Our chances of success in the future will also depend on this.
That is why knowing exactly how to structure our pitch. And which aspects to attack with greater force to achieve putting these listeners on our side is a vital aspect of our strategy to materialize the goals of the company.
Although each pitch will be different due to the personal experiences of each entrepreneur. And the answers we get will also vary due to the investors. The reality is that knowing these steps can make the difference between getting professional support, or being ignored.
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