How to Win New Business Pitches
January 05, 2023
We all want to win new business pitches. For many of us, winning business pitches is a crucial part of our job. It can be challenging; and we can all do it better. With the right approach and strategies, it is possible to increase your chances of success when pitching.
We’ve been coaching new business and investor pitches for 15 years. These are ten simple but essential tips about how to win new business pitches. These may seem like simple advice, but these are some of the things that people forget when pitching.
1. Winning pitches: Build a relationship with your client
Building a relationship with the client before and during the pitch is essential. People are much more likely to buy from someone they know and like. You want to demonstrate your knowledge of their business and build a rapport. The good news is that you can use coaching to help build a relationship in a new business pitch.
2. To win a pitch, understand your client’s needs
OK, that sounds obvious – it is essential to understand the client’s needs and what they are looking for. But too many pitches we have seen put the supplier at the centre of the pitch rather than the client. Make sure everything you say is about your client and what they need.
3. Winning pitches means creating a compelling proposal
A well-written, well-organised and simple proposal is most likely to succeed. Use data and case studies to back up your points so that your proposal is as persuasive as possible. And don’t underestimate the power of stories to win new business pitches.
4. Practise, practise, practise your new business pitch
It is tough to win pitches without practice. Don’t just rehearse your presentation. Instead, get feedback from colleagues or a coach to improve your delivery AND your content. Make sure that everything you say will make your client feel good. And simplify what you say so that your messages are clear and concise.
5. Be prepared for questions during your pitch
You will get asked questions during the pitch – so it is important to be prepared to address them. Anticipate potential questions and have answers ready. Showing that you have thought about their concerns and can provide solutions that will demonstrate your expertise and increase your chances of winning the business. Practise your Q&A as much as you practise other aspects of your pitch.
6. Use visuals effectively
Visual aids can be a powerful tool in a pitch, as they can help the client better understand your solution and the value it will bring to their business. Go beyond PowerPoint. Think props, video, demonstrations, graphics and charts. Make it fun and interesting.
7. To win pitches differentiate yourself from the competition
Show your client why your company is the best choice for their business. Highlight your unique selling points and any competitive advantages you have over other potential partners. This can include things like your company’s experience, track record or proprietary technology. But don’t trash your competitors.
8. Follow up after your pitch
After the pitch, follow up to thank them for the opportunity and reiterate your interest in working with them. Use this as a way of sending additional information the client may have requested. Keep your company top of mind to increase your chances of success.
9. Winning new business pitches means being flexible
No matter how well you prepare, there will be unexpected challenges. The whole point of practising is that you want to be flexible, adaptable and confident when faced with the unexpected. Again, that is why practising with a professional coach can be so powerful.
10. Winners don’t give up
Even if you don’t win a particular pitch, it is important to take the experience as a learning opportunity and use it to improve your future pitches. It can be disheartening to lose out on a potential client, but it is important to stay positive and continue to pursue new business opportunities. After every pitch always ask yourself three questions: What did we do well? What could be better? What shall we change next time?
By following these tips and putting in the effort to thoroughly prepare and deliver a compelling pitch, you can increase your chances of winning new business and growing your company.
These are some of the basics you must get right when pitching for new business. We work day in day out helping companies create compelling, persuasive pitches and presentation. And we’d love to help you.
If you want help to polish your new business pitches, contact Louise Angus, our client services director. She’d be happy to discuss how we might be able to best support you.
How to make a stand out new business pitch
About Benjamin Ball Associates
At Benjamin Ball Associates, we help clients to communicate better in pitches and presentations.
Over the years the BBA team has coached thousands of senior executives globally to pitch & present powerfully. You get access to a transformational toolbox of techniques to help you become a clear, confident communicator.
We’ll help you create a powerful first impression that hooks and engages your audience immediately and we’ll transform you to deliver clearly, confidently and with impact.
Speak to Louise on +44 20 7018 0922 or email firstname.lastname@example.org to find out more and discuss your upcoming speech or presentation.
Contact us for a chat about how we can help you with your presenting.
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