What Does Pitching an Idea Mean? How Do You Pitch a New Product or Service?

Every small business owners take on many positions and the one role you will always have to play is the sales specialist. It is not always simple to sell what our companies represent; with consumer’s busy life styles, confused by the selection of options, and often their reluctance to part with their hard-earned money, it can be challenging to say the least. We at Lucid Blue Media would like share ways you can pitch your ideas to captivate consumers.

How Do You Pitch a New Product Idea?

1) Conduct your pitch. Establish the facts in basic and concise dialogue; discuss features, benefits, and your points of difference. If applicable, display everything and demonstrate why the potential customer needs what you’re selling.
2) Take questions. Following your pitch, but before you move on, you must make absolutely sure you’ve been clear. Eliminate any confusion and ask your listening audience if they have any questions. If they do not understand what it is you are selling, they will not be interested in investing in it.
3) Enquire them to rate their interest. Ask for their number on a scale of 1-10, 1 being disinterested and 10 being open to purchase. Getting the statistics can help you find areas to improve on as well as the general interest in your product.
4) Reinvent pitch? Though uncommon, but if they answer with a 5 or less, then you need to reinvent your pitch. Find a way to connect and stimulate interest as to what you’re selling specifically coincides with their needs. You can develop a more suited pitch by simply getting to know what generates the interests.
5) Gather intel. Rated interests around 6-9. No matter what that number is they gave you, always act surprised. Relate to them you genuinely believed their interest was one number lower. Whatever they answer, from 6-10, you ask them why they came in so high. In this way you can gather the intel you need to further market your products.
6) Let them convince themselves. They are now going to tell you why they rated their interest so high and all you got to do is sit back and listen. Your prospective customers are going to list the reasons why your offering is so appealing to justifying their answer. Basically they are going to hear themselves regurgitate your pitch, and by the end, they will have convinced themselves.
7) Close the deal. As you explain how you understand why they feel the way they do, now is the time you can steer the conversation into finalizing the sale. This tactic is very effective because now the buyers are talking, and talking about all the reasons why they should invest in what you have to offer.

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Lucid Blue Media hopes this was a helpful addition in pitching your deals to the potential customers that you have worked hard to generate. Remember to use your pitch accordingly and then steer the prospects in the right directions to get the buyers ready to invest what you are selling.

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