The Winning Pitch #4: 10 reasons why customers say “yes”
So, the golden question – what do clients look for when you pitch to them? What defines success – and a win for you?
This is a difficult question to answer in just a few words. The reason is that clients alter their priorities across industries.
For example, in relatively immature industries such as Web Design, a proven track record of success, plus a financially robust balance sheet, are both essential elements that clients will look for.
In mature industries, such as Logistics, it’s quite the opposite. Clients know that the top logistics companies are on the whole successful and financially robust. Instead, clients might be looking for freshness, energy and innovation in this mature industry.
But there are loads of other considerations too. Your job prior to the pitch is to find out which of these points are right up the top of the client’s assessment notes.
If you get them right, and focus your pitch in those areas, then you will have much more chance of success!
So here’s the list – keep it handy while you’re preparing for your next pitch!
4. Cost effectiveness
It’s important to know the difference between price and cost effectiveness. A price is a ticket hanging on a product, nothing more. It is a number only. So price alone has no value.
That number is validated by you in a pitch if you are able to add value. When you put it into a pot with anticipated (or guaranteed) results, adding benchmarking, competitor comparisons, success-measurements & performance incentives then you have cost effectiveness.
It’s possible in a pitch to plant some “value bombs” as well. Supposing that you are in a competitive pitch, and you want to show your product has a certain value that your competitors do not have. For example you might be able to offer a performance guarantee and your competitors may not.
You might say the following in your pitch: “Be wary of companies who offer this without a performance guarantee – this may be covering up some of their service faults.”
It’s interesting how many times we get told that “we recently lost a pitch based on price”. One way of looking at this is if you pitch for a client and lose based on price, then you only have yourself to blame. Why? Because you talked about price and not cost effectiveness (value). Clients will look for value so spell it out for them.
Come back soon to our blog for The Winning Pitch #5 – “Strength of senior management!” If you have an interesting, charismatic leader from your senior management team then it’s a good idea to put them forward. Humans like associating with power, and your business clients will love a strong, charismatic senior management person.
Make your next pitch a winning one!
A pitch is a high energy process – often fun and sometimes frustrating. It is usually a time of great uncertainty too. From the outset you are never 100% sure that you are going to win, which makes it a nervous process full of guesswork.
Your aim throughout the pitch preparation process is to bring as much certainty to the process as possible. While not conclusive, this list of criteria should go a long way to helping you get that certainty.
Give us a call at Natural Training if you would like us to show you why we are considered a sure thing by many of our clients looking to win their next pitch.
Would you like Mary to run some training for you?
Simply call 0207 043 1582 and we will organise for Mary to train you and the team.
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