Client acquisition is a difficult task that necessitates a great deal of sophisticated communication, elegance, strategy, and — in many situations — luck. Getting to the last stretch is a challenge in and of itself, so if you make it to the finish line with a prospective customer, you’d better know how to cross it.
A client pitch is the most popular term for the process of “crossing the finish line” in this context. In this RisePath blog, we’ll go over what that term means, learn more about pitching clients, and receive some tips on how to give a great client pitch presentation in this article.
A client pitch is a tailored pitch in which representatives from a company or agency address a potential client’s unique demands and show how their product or service — specifically — best addresses those difficulties. It frequently entails a one-on-one presentation aimed at developing a long-term relationship.
The term “client pitch” is a bit of a misnomer. It could be a more technical project, such as one led by a business development executive with the help of solution architects. It could also be a representative from an agency attempting to demonstrate the worth of their firm’s services to a potential client.
However, there are a few important aspects that are included in every client pitch. Client pitches, for example, are more prospect-specific than other types of pitches. A startup pitch deck is frequently sent out to numerous firms at once, while an elevator pitch can be delivered to anyone at any time. A client pitch is created expressly for a single company.
Another feature that distinguishes client pitches is their typical ending. Client pitches are more about attempting to develop a long-term relationship than promoting a one-time remedy. After all, you want your viewers to become clients, not simply buyers.
Let’s take a look at some tactics you may use to effectively pitch clients.
1. Identify the appropriate clientele.
As I previously stated, a client pitch is not the same as an elevator pitch, and it is unlikely to be based on the type of broad-reaching pitch deck that a startup may send to numerous venture capital companies at the same time. It’s a lot more specific than that. That’s why you should spend time identifying the ideal customers for your product or service.
Understand the demographics to which your organisation caters. Recognize which companies of various sizes will benefit the most from doing business with you. Have a sense of how much money an organisation needs to be able to purchase your service.
You can end up pitching to clients who can’t or won’t be receptive to what you have to say if you don’t cover those bases, among others. If you don’t know who your target audience is, then the most amazing client pitch won’t help you.
2. Carry out an extensive study.
Let’s imagine you’ve identified a perfect potential client, and representatives from that firm have agreed to listen to your pitch. Now you have to put up a meaningful, resonant pitch for them – and the first step is to learn everything you can about their company, its needs, and any alternative solutions they might be considering.
Conduct market research to determine where the company stands in relation to its competitors. With whom is it in competition? Who is it aimed at? How has it performed historically and more recently?
Also, see where it sits in terms of solutions similar to yours. Is it using a product or service similar to yours? If that’s the case, how’s it going with that solution? What is the price of that offering? What distinguishes that particular alternative in terms of features and benefits?
On both sides of the pitch, try to uncover the unique differentiators. What distinguishes your potential clients? What distinguishes you from others? And how do those unique aspects come together to make your product the best fit for their needs?
3. Perform a market analysis.
This point is a continuation of the one before it. If you want to gain a thorough picture of what your potential client is interested in and what you can do for them, you need to know if their company is using a comparable solution to yours and what sets you apart from the competition.
Determine the areas where your abilities are comparable to those of your competitors. Find out where you’re outperforming them and how you can use your competitive advantage to your advantage. Be able to explain why your solution is superior to anybody else at solving your potential client’s problems.
This isn’t about pointing out all of your competitors’ flaws and spending your entire pitch criticising them – that comes out as petty and impersonal. Simply know where you stand in your area and demonstrate that your position in the competitive landscape aligns with the interests of your potential client.
4. Make an effort to connect with important stakeholders prior to the pitch and get to know them.
Early on, try to arrange an opportunity to speak with key stakeholders at the prospect’s firm so you can gain a better understanding of the company’s and its team’s future goals. Ask the management some straightforward questions once you’ve gained access to start them talking.
Most of the time, you’ll be speaking to intelligent, opinionated people who want to see their ideas included in the pitch. This stage, like so many other important components of a good client pitch, lends itself to specificity – it allows you to add another level of customization to your presentation.
The following are some good questions to ask:
- Where would your company be in five years if all goes well?
- What will your customers think of your firm if all goes well?
- What will your employees think of your organisation if all goes well?
- What, in your opinion, are the most significant roadblocks between your company and that bright future?
- What are your main concerns?
If management is concerned about a particular competition, for example, you may utilise that information in your presentation to show how your suggested solution will provide them with an advantage over that competitor.
5. Create a specific solution while maintaining compatibility.
Once you’ve gathered the relevant information, it’s time to put together a customised solution to meet the prospect’s exact requirements. Have a thorough solution on hand, but don’t spend the entire time going over the specifications.
A client pitch is all about forming a long-term relationship with a potential client. It’s crucial to show that you have the technical know-how to solve their problems, but you also need to show that your company and theirs are in the appropriate place to work together.
It’s difficult for your prospects to determine the relative quality of professional services or new products, but it’s simple for them to choose who they want to work with, so make sure you maintain control over the image you create.
Prospects will learn more about you by watching how you act throughout the pitch process than by listening to what you say. How quickly you respond to requests, whether you’re on time, how your staff respects one another, and even how you answer the phone all speak volumes about who you are.
6. Be well-prepared.
This may seem self-evident, but it bears repeating: you must know your pitch inside and out before delivering it. That involves brushing up on your research, understanding who you’ll be speaking with, becoming comfortable with the solution you’re proposing, and presenting yourself professionally.
You must be prepared to maintain your composure throughout your presentation and to answer any queries your potential clients may have in a courteous manner. They may perceive you as indifferent, unprofessional, or untrustworthy if you appear hurried or uneducated. They’ll be more likely to start a productive relationship with you if you can act like someone you’d want to do business with.
7. Make suggestions for the next steps and follow up.
Always check to see if your pitch is leading anywhere. That involves providing concrete next steps for your potential client to do if they’re interested in doing business with you, as well as any further information they may request when providing feedback.
Once you’ve completed everything, make sure to stay in touch with your potential client on a frequent basis. You don’t have to bombard them with email after email or phone call after phone call, demanding to know if they’re interested in doing business with you. Simply contact them every now and then to keep you and your firm in mind until they have a firm answer.
It may be as simple as reaching out to provide them with additional, helpful information that you didn’t have time to address during your pitch, or it could be as simple as following up to have a quick conversation.
Make sure you’re exhibiting curiosity without being intrusive in some way. Many agreements are lost as a result of people’s reluctance to follow up with potential clients; don’t fall into this trap.
Clients are the lifeblood of many corporations, agencies, and businesses, so if your company’s success depends on your ability to build long-term relationships with them, you’ll need to know how to get those ties started.
Pitching clients can be as frustrating as it is necessary, but if you can focus on potential clients’ needs, develop specialised solutions, convey compatibility, and position yourself as a reliable resource who will fight for their best interests, you can consistently deliver client pitches that deliver results.
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