You’ve built up your book of business, your marketing is a fine-tuned lead generating machine, but are your pitches closing as many deals as they should be?
For many of us in B2B sales, the opportunity lies not in generating additional prospects, but in closing more of the potential deals that already come across our desks (or inboxes) on the daily. In this guide we’ll explore simple yet effective “hacks” to increase your pitch acceptance rate, close more deals and grow your book of business.
#1 Streamline Your Process and Act Faster
As many of us know all too well, the amount of time we spend trying to actually win more work often dwarfs the time we spend actually doing the work itself. Countless sales professionals end up finding themselves up to their necks in administrative and remedial tasks that take precious time away from what we do best: selling.
One of the most prevalent challenges we see sales reps struggle with is the acceptance rate of their proposals and pitches. They prep, prepare and send them out or present them by the dozen. Each taking hours to prep, format and compile.
Taking the time to optimize your pitch/proposal process is paramount to getting more done in less time and as a result, closing more deals.
Key Steps:
- Template out any of the “cookie-cutter” parts of the pitch
- Keep elements of your proposal in “modules” ready to “plug and play” when needed
- Consider customizing a set of pitches/proposals per client/prospect avatar
- Anticipate and understand your client’s needs in order to address them effectively in the pitch in order to proactively address any sticking points.
#2 Business Proposal/Pitch Design
As the old adage says, you only get one chance at a first impression. Sure, you’ve built rapport, established value and checked off all the typical “boxes” as a sales professional. However, your pitch and/or proposal is often the first glimpse into actual deliverables your prospect has about you or your company. Make yours count.
Appearance Matters (almost) as Much as Substance
Before your prospect even has a chance to roll up their sleeves and “dig in”, the first thing they’ll notice is the “presentation” of your pitch. But don’t be fooled, good pitch design is about more than flashy aesthetics and clean lines, it’s about effectively and clearly communicating the narrative, agenda, and outcome. In this way, your pitch is a direct reflection of what the prospect can expect from your business. If it looks messy, unorganized or unfocused, so does your work in the eyes of your future client.
How to Design Your Pitch
- Carefully plan the composition of your pitch
- Leverage psychological triggers (such as social proof and data from case studies)
- Utilize a clear and direct call-to-action
- Template your pitch for future use and repurposing
For example, software such as Qwilr allows sales professionals to develop a library of “content blocks” that can be easily repurposed or reused across any sales materials, including future pitches. This can substantially cut down on the time needed to organize and prepare pitches but can also make testing different layouts and variables a breeze.
#3 Cut the “Noise” and Get to the Point
As B2B sales professionals, we LOVE to talk about what we can do, what we bring to the table, and how all of the above can benefit our target audience. But all of this enthusiasm can backfire in the form of “over-informing” the prospect and dropping a literal data dump in their lap.
When crafting your pitch, put yourself in your clients’ shoes. What is the mission-critical information you would want to see if you were them? Although it may be tempting to load up your pitch with all the great ideas you have rolling around in your head, too much information can (and often does) work against you.
Proposals and pitches should be just long enough to cover the important bits and pieces, but short enough so as to keep your prospect focused, engaged and interested.
Consider:
- Opening with a clear and dominant objective
- Follow with concise action points
- Back up your proposed plan of action with supporting information and data
- Drop the jargon and complicated prose
- Stick to short sentences and paragraphs using no-frills English
Data suggests that pitches between 6-8 pages close at higher rates than those that fall either under or over this number.
#4 Sharing is Caring: show them what they can expect (and back it up with proof)
Telling is one thing. Showing is another. Make sure your pitch is chock full of case studies, testimonials, and data to back up the results or outcomes you claim. Consider employing the time timeless yet highly effective storytelling approach. Storytelling can establish trust, speak to personal pain points and expedite the timeline to acceptance.
A Great Opportunity for Incorporating Multimedia
Although certain industries and services/products are more appropriate for video, audio or imagery, if yours falls in that genre, consider the addition. Data from companies such as Qwilr and other business proposal software reveals that across hundreds of thousands of proposals, those that incorporate multimedia such as videos or photos are around 32% more likely to seal the deal.
#5 Don’t Be Shy About Directing the Show
As a B2B sales professional you’ve heard it before (likely hundreds of times)…ASK. FOR. THE. BUSINESS. Although we all know asking for the deal is paramount to actually getting a contract signed, many of us still forget to incorporate this “ask” into our other materials (such as sales pitches and business proposals).
So how do you accomplish this in a sales pitch? Simple, include a clear and prominent call to action at the end of your proposal (and anywhere else it makes sense). This can include booking a meeting, signing an agreement, or whatever “next step” is part of your organization’s sales process.
#6 Don’t Let Your Prospect Ghost You
As they say in sales, the money is in the follow-up. This is just as true with prospecting as it is with following up on submitted pitches and proposals. Research shows that a well-crafted and strategized follow-up sequence can increase close rates by around 30%.
Step up Your Pitch and Get More Deals Done
You put in the work every day to earn more business, why not take the time to make sure your pitches and proposals work as hard as you do to get the deal done. By following the simple yet impactful “hacks” in this guide you can close more deals faster, grow your pipeline and hit new personal records in no time.
If you take away one thing from this guide, remember that your pitch should speak to your prospect in a way that resonates with their pain points and provides them a clear path towards their goals. Happy hunting!
Aaron Beashel
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- Hacks to Increase Your Pitch Acceptance Rate - December 18, 2019