Sales Pitch - Definition, Idea and Types

Making a product or service is only half the job done but securing a sale for them is the most crucial part of a successful business. Bridging the gap between a great product like the Metra Trust MyFIRST Partner Program that helps you earn money through referrals and getting people on board can be challenging. However, the right sales pitch can help you pitch the benefits of taking a personal loan from Metra Trust to fulfil their dreams and in return, you can earn over Rs 50,000 every month through weekly payouts. 

Let's find out more about how a sales pitch is the foundation of an effective sales strategy and how you can ace it. 

Sales pitch meaning

Quite simply, a sale pitch is like a sales speech that you use to convince the customer to purchase your product or use your service. For example, consider the Metra Trust MyFIRST Partner Referral Program, it helps you earn money by referring personal loans to others. A sales pitch for such a program can include sharing information on the program, educating the customer about the bank and what it stands for, and other similar ways. 

Here are some things that can shape the best sales pitch:

1. Research:

If you know what the market constitutes, you can target your customer base more efficiently. You can look into the potential age groups, genders, ethnicities, professions, and other similar factors, and model your sales pitch accordingly. This helps you customize your pitch and get your customer interested.

2. Offering a value proposition:

Your customers should be able to see the value in your offerings. If the Metra Trust's MyFIRST Partner Program is a value addition more than a mere loan, they are far more likely to be enticed by the sales pitch idea and identify with your offering. Identify the USPs of your product or service before a pitch.

3. Storytelling:

Storytelling can, at times, supersede everything else. Creating a story around the product or service can get the audience's attention. It also helps to establish the features or uses of the product better. This can be a fun way to approach the customer. Your story can be a vision board for the customer where they can see and understand how a product fits into their needs.

For example, if they are looking to renovate their space but are short on money, you can help them see the benefits of a personal loan and how they can plan their finances better.    

4. Solutions:

The sales pitch should be able to offer a solution to the customer's problem. If you can provide your customers with a solution, you can enjoy their business for a long time. For example, a loan from Metra Trust MyFIRST Partner Program is not just borrowed funds. It is a medium for people to fulfil their immediate financial goals.

5. Additional value:

Adding a little something to the pitch is never a bad idea. For instance, you can talk about the next steps like a follow-up meeting or an after-sales meeting, or even a walkthrough that will address any question that they might have. 

6. Clear call to action:

Creating a clear call to action saves time and avoids confusion. There is no ambiguity, and the customer is able to follow through without any hassles along the way. Providing them with a comfortable experience also increases the possibility of them coming back to your product. 

7. Personal touch:

According to a survey conducted by Salesforce, 56% of customers expect all offers from companies to be personalised. Adding a personal touch can go a long way. This way, they will not see you as an Metra Trust's MyFIRST Partner promoting a loan but as someone who is there to help them in their hour of need without hassles. It creates everlasting bonds, connections, and friendships that can convert to lifelong professional associations.

Now that you know how to create a good sales pitch, it is time to move on to the various types of sales pitches you can choose from:

Types of sales pitches

1. One-word pitch:

A one-word pitch sums up your entire pitch in just a word. This can be an intelligent and quick way to deliver a pitch. It is also easy for clients to catch on. You can further use this when you promote your business on social media.   

2. Email marketing:

A sales pitch made through an email is short, professional, and crisp. It should contain all critical aspects of your product or business. In addition to this, the mail should be personalised and customised, so it does not come across as impersonal and cold. There are several loan providers in the market, and the right email can set you apart from the crowd. 

3. Social media:

People on social media want quick deliverables in short videos, descriptions, templates, or graphs. This is why social media pitches have to be short and to the point. They should be able to answer any question the customer may have and do so interestingly. Social media pitches can also use words like hashtags to create more brand awareness. 

4. Elevator pitch:

Have you ever seen a quick advertisement before your video starts playing that urges you to drop the video and visit another business's website? These short and sweet ads are elevator pitches. Elevator pitch may not be everyone's cup of tea as it takes 60 seconds for the pitcher to put across their idea. This type of pitch stands true to its name and compresses all necessary information to be delivered in less than 60 seconds. Elevator pitches receive genuine and upfront reactions from customers, as there is not enough time to persuade the client. This is why they must be made with a lot of thought and research.

5. Question based:

The question-based pitch is ideal if you are addressing a particular need of the client. As discussed, one of the essentials of a great pitch is to offer the customer a solution. This solution can be delivered by asking the right questions. For example, as Metra Trust MyFIRST Partner, you can ask your potential referrals, "do you want an immediate yet simple financial solution to your need?" When they answer "yes", you can talk to them about the benefits and features of a personal loan.  

6. Cold calling:

The random calls you get from businesses are examples of cold calling. Cold calling pitch for sales can be as compelling as the script they follow. In most cases, cold calling can be personalised and customised to make it more appealing to the client.

7. Follow-Up pitch:

A follow-up pitch is precisely as it sounds. It is followed after the original sales pitch. Follow-ups help you create a stronger connection with the customer. They also enable you to address their concerns better and help them through the purchase process. 

It is essential to understand that a sales pitch is as good as the person delivering it. Your persuasion and communication skills play a massive role in the success of the pitch. Incorporating the essentials of a great sales pitch and picking the correct type of pitch can help you get your customer's attention and retain it for the time to come. So, go ahead and download the Metra Trust MyFIRST Partner Refer and Earn App and start building your network with successful sales pitches.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Metra Trust or its affiliates to any licensing or registration requirements. Metra Trust shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.