A special negotiation situation is the pich, deck or pich deck, which is a presentation situation, but it is a quasi-negotiation situation, as you want to gain support from either investors or potential buyers.

 

A sales pitch is a condensed sales presentation where a salesperson explains the nature and benefits of their business, ideally in less than one or two minutes. Sales pitches are often referred to as ‘elevator pitches’ because they should be able to be delivered within the time constraints of a single elevator ride.

Salespeople are past the point of giving prospects hour-long presentations to sell products or services. Nobody has that kind of time and, to be honest, if you need an hour to relay your value proposition, you’re doing it wrong.

 

They’re called elevator pitches for a reason. Ideally, if you’re giving me one, I should be able to understand what you have to offer in the time it takes to get from the lobby to my floor.

A good salesperson should be able to get their message across compellingly and concisely. If you can nail your sales pitch, odds are you’ll have more time to talk down the line.

 

A product pitch is not much different than a sales pitch, but is specifically focused on a product or service. You’ll go in-depth and emphasize how your product works, how it will solve their pain points, and the specific benefits it will bring to your customers.

As an example, a sales pitch can be broadly focused, like if you’re a consulting firm that offers a wide range of services. You’re selling your business as a whole, rather than a specific product or service, like a CRM platform or accounting tool.

 

The Sales Pitch Framework

If you have time to properly expand and work on a conversation, touch on points of interest. Here’s a framework you can use for building your elevator pitch:

• Problem: Start with a statement or question about the problem you solve. You can present the problem using a personal anecdote, question, or eye-opening statistic. Answer the why.

• Value Statement: Share a very clear, concise statement of value. Be action-oriented and outcome focused. Avoid using jargon. Share benefits.

• How We Do It: Highlight unique differentiators and explain what you do.

• Proof Points: Provide clear reference examples and list recognizable achievements. Share industry validation and awards.

• Customer Stories: Share customer examples and successes. Tell emotional and personalized customer stories. Make it real and tangible.

• Engaging Question: Close the pitch with an open-ended question, creating a space to have a conversation.

 

Structure – How to make a sales pitch

• Make it short. – A sales pitch isn’t a conventional presentation.
• Make it clear. – This ties in with the previous point. You don’t have the time to go on tangents or talk about anything but the message you’re trying to get across.
• Explain who your customers are. – Consider the picture you’re going to paint in your pitch. Give your listeners perspective on who’s buying your product or service.
• Explain the problem they’re facing. – Cover why your customer base needs you. Your target market is only as valuable as the problems you can solve for them. Convey a problem they consistently face.
• Explain how your product addresses their needs. – You have to establish why they’d buy from you. What can you do better than your competition?
• Describe what success will look like as a result of using your product. – Show the benefits of your product on a broader scale.

 

When starting your pitch, you’ll want to integrate the following essential elements:

• Start with the problem. Always start with the problem. Unless they know the problem you can solve, they won’t be open to hearing how your product is a solution.
• Tailor the start of the pitch to their vertical. No one wants to hear a general pitch that would apply to any business. Research their vertical and use the information you found to personalize the pitch immediately.
• Offer stakes. If they don’t solve the problem using your solution, what do they have to lose? You don’t need to state it in such clear terms — but alluding to the risks at the start of your pitch can help you secure buy-in straightaway.

Start off a pitch with what you know best — yourself. While I don’t think you should focus solely on yourself throughout your entire pitch, starting off with a personal anecdote can help you speak with more authenticity and foster empathy.

Ask a question that relates to the problem you solve.

Start with a stat that resonates and offers stakes. Starting with a stat can be effective — but it has to resonate with the audience and offer stakes.

Training exercise: Participants will work in working groups to develop a presentation of their projects using the pitch methodology. They prepare and present 60-second and 5-minute presentations and then present them to the group. The group member will give specific feedback based on their experience so far. In practice, this means presentations of completed projects, which are also videoed and made available to the teams for future use.

Ideas:

• Tell a story.

• Include a value proposition.

• Personalize the sales pitch.

• Switch up your pitch.

• Practice your pitch.

• Try not to use metaphors.

• Create a WOW moment.

• Appeal to emotions.

• Back it up with facts.

• Tap into their fear of missing out.

• Educate them.