Selling SaaS can be challenging. The decision to buy your B2B software solution needs the approval of several players and may raise many integration concerns along the way. And, with ever-increasing competition, it’s only going to get harder. In fact, 61% of sales reps state it’s harder to sell today than it was 5 years ago.
Perfecting your B2B elevator sales pitch is the key to achieving success. This article will uncover 4 actionable tips behind crafting a winning sales pitch that you can implement today to skyrocket your sales.
What is a B2B elevator sales pitch?
A sales or elevator pitch is a short sales presentation where a salesperson explains the benefits of their product in a minute or less. The goal is usually to motivate prospects to agree to an in-person or more in-depth demo presentation.
It’s a perfectly crafted quickfire sales pitch that highlights how your solution will benefit the prospect. It enables you to present your business even with severe time constraints.
A B2B elevator sales pitch needs to be delivered quickly. But, why? In this fast-paced, tech-orientated world, our attention spans have significantly decreased. In fact, studies show on average, we concentrate for a scant 8 seconds.
We no longer have the time or inclination to watch a lengthy presentation unless we have a serious purchase intent. In other words, if you don’t craft the perfect sales pitch that hooks the prospect, leaving them wanting more, you won’t convince them to engage with your sales demo (where you’ll close them) later in the process.
A killer sales pitch needs to get to the point both quickly and compellingly. The first minutes, if not seconds, determine the direction of the following interactions. You need to use this time wisely to convince the listener that your offering is superior and deserves their full attention.
4 tips for creating a winning B2B pitch
It's in our DNA. Our brains resist sales messages, which is why perfecting your pitch and creating a compelling message is critical to your success. Consider the following tips when compiling your pitch.
1. Keep it short
It’s kind of obvious but your pitch should be concise and direct. Your prospect shouldn’t learn everything in the first pitch. In fact, the opposite is true. Your B2B elevator sales pitch should give them just enough information but leave them wanting more.
The key is understanding your prospect’s pains and how your offering solves them — this enables you to define a compelling sales pitch that you can deliver in one or two quick sentences.
A helpful exercise is to think of the tweet you would send announcing the launch of your software solution. What would you say about the product in 140 characters? There’s no time to delve into a list of features. Get the core point across as quickly and efficiently as possible.
Think of some of the best pitches in the SaaS world today:
Slack: “All your communication in one place, integrating with the tools and services you use every day.”
Mint: “Effortlessly manage cash flow, budgets, and bills from one place.”
Contently: “Contently helps leading brands build loyal audiences through premium, original content.”
You understand precisely what these solutions are about in a single sentence. Narrow down your answer by its benefits, its unique selling proposition, and the pain points it can solve.
These are all pretty extreme examples, and while you may not be as prolific as Slack, these examples highlight how short pitches work. They are easy to understand, concise and to the point, and, importantly, quickly answer a prospect’s pains.
2. Talk about benefits, not features
Don’t focus on the features; focus on how they benefit the customer. Provide a perspective on how your product will benefit your audience and help meet their goals. Your pitch has to be relevant, personalized, and interesting for the prospect. It has to address the points that are most important to them.
Here's an example of a sales pitch that tells the prospect what the business offers and how it can benefit the prospect:
Hubspot: "There’s a better way to grow. HubSpot offers marketing, sales, service, and operations software that helps your business grow without compromise. Because ‘good for the business should also mean ‘good for the customer.’”
It’s short, gets straight to the point, and tells your prospect how Hubspot will help them. You can quickly qualify or disqualify potential customers by rapidly explaining how the offering benefits the prospect.
3. Create an emotional connection
You’ve heard that storytelling is a powerful tool. B2B prospects enjoy hearing about the origin stories of their potential SaaS vendor. But the key is when you focus on product-led storytelling. Product-led stories show how your product will overcome a specific challenge that customers face.
(At Walnut, we talk about Bill Gates’ epic demo fail and how it inspired the
company to create better demo tools).
Use stories about your customers that found success using your product and share
the impact that it’s had on their business - whether it’s efficiency (time savings, ease of operations) or monetary (income generated, savings).
4. Ask a question
Anyone can create a basic sales pitch with a couple of bland sentences explaining what they do. While the information may be factual and to the point, it won’t necessarily work.
To succeed, you need to engage with your prospect. Consider starting your B2B sales pitch with a question. Instead of talking at your prospect right off the bat, you draw them into a dialogue. Not only do you engage them, but you also begin to learn more about their needs and desires.
Ask them simple questions they can easily agree with, such as “Have you noticed..?” or “Do you remember when..?”. Or, completely flip it on its head by asking them something you know they’ll disagree with. Why? You’ll invoke a far stronger reaction, and you can then position your SaaS as the perfect solution to their grievance.
Pack a punch after your pitch
The B2B elevator sales pitch is just the first step in the sales process. By being short and sweet, you leave your customer begging for more. When your prospect asks for more information following the pitch, it’s time to book a product demo to nail the sale.
With Walnut, you can create personalized (and interactive) product demos for each customer – without coding. Get in touch with an expert to see how a killer demo can complement your sales pitch.