19 Set Pitching A Client Is A Science: Six Steps To Perfect The Process
Throughout my career, I’ve witnessed business development professionals looking to make a sale by presenting their company’s capabilities or demoing a product. Their approach relied solely on the general content of their presentation and, hopefully, their ability to make a personal connection with the client in a very short time. Even for all their effort, this approach often resulted in a one-time meeting without any commitment or follow-up from the client. The primary reasons seem to be:
• Lack of a clear business need: This refers to when a client simply does not have any use for the service or solution being presented.
• Methodology/solution not tailored: If the potential client cannot see their processes or their business needs addressed in the presentation, they most likely will not respond.
• No differentiators: Rest assured that multiple competitors are trying to pitch a similar solution. If the pitch does not explicitly describe what makes your solution unique (e.g., high return on investment, faster performance, etc.), it will be easily forgotten.
• Lack of focus: If the pitch includes multiple solutions or covers a vast array of services, most potential clients simply get lost or overwhelmed.
Pitching a client is not about “selling” in the traditional sense. It is about developing and shaping an opportunity through innovative thought, in response to what the client needs. Collaboration between business developers and solution architects is foundational. The business developer understands the market and competitive forces, identifies the need and facilitates the meeting. On the other hand, the solution architect knows how to translate the need into a tailored solution.
More specifically, the following steps can bring business developers closer to their intended result:
1. Target: Based upon your company’s strategic goals and capabilities, assess the field of potential clients to identify those who would likely benefit from what you have to offer. If you actively pursue too many clients at the same time, it becomes impossible to track and follow up. The key is quality, not quantity.
2. Research: This step is twofold. First, client by client, perform market research to determine what the client’s business needs are. Are they looking to acquire a solution or service like the one you are offering? What do they currently have in place? How well is it performing? Secondly, you want to perform competitive research to achieve situational awareness. Who supports this client now? Are they vulnerable? Who else is looking to sell similar products or services to this client? What are the unique features or differentiators they are offering?
3. Solution or prototype: Take all the information you gathered in steps one and two and review it with a solution architect. He/she will help to develop a prototype or framework that will resonate with the client. The solution must clearly address the need(s) that you identified during your research (make sure to cite how the solution does this in your presentation) and must be designed from the client’s point of view.
4. Differentiate: Add quantifiable/measurable facts into the presentation that describe why your firm is the only firm that can deliver the solution you are presenting in the quickest, most cost-effective way possible (surpassing the differentiators offered by the competition). This can be in the form of benefits that you achieved for other clients implementing a similar solution, how fast you can deliver the solution as compared to the market average, etc.
5. Present: When presenting to your potential client, bring the solution architect with you. He/she should present the solution as someone who has “done it already,” thereby giving your firm instant credibility. Additionally, make sure to present salient points only and allow the client to provide feedback. This is a crucial moment to learn more from the client about their business needs, what they think about your solution and any other areas that they might need help with. Many times, I’ve seen business developers and/or solution architects talk for the entire meeting, completely losing the opportunity to gain more insight and develop a rapport with the client.
6. Follow up: This is perhaps the most important part of you’re the approach: following up with your potential client. Hopefully you have defined next steps as part of your presentation, or you’re able to offer additional information to the client based on their feedback during the presentation. Either way, not touching base with the client regularly after your initial presentation will kill the deal no matter what.
These basic tips place your potential client’s needs first and foremost – in what can be called client-centric business development. The presentation and the sale are about them, not your firm or your solution.
Branko Primetic – Forbes Business Development Council
You can see all article here -> https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2018/09/17/pitching-a-client-is-a-science-six-steps-to-perfect-the-process/#4f3cb768c5a6
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