Developing a pitch can be both art and science. One rule to live by when pitching an idea, product, or partnership proposal is that one size does not fit all. Tailor your pitch for each specific audience and situation, because a successful pitch for one could bomb in another environment. Understanding this diversity is important to opening doors and winning hearts (and deals).
Understanding the Basics of Pitching
Pitching involves convincing someone to take action. For entrepreneurs this may mean convincing investors to fund their venture, sales professionals might close a deal with new clients, creatives could sell an idea to stakeholders. But regardless of the circumstance, the core concept remains unchanged: you must effectively communicate value. Each audience, context and goal necessitate different strategies. How to sell to a CMO differs significantly from selling to CTO. Knowing this distinction makes for successful pitches.
Types of Pitches: It’s All About Context
It is very important that your approach are tailored accordingly, so here are some of the more prevalent pitches:
Elevator Pitch
The elevator pitch is a brief summary of your idea that takes no longer than an elevator ride (30 to 60 seconds). Elevator pitches rely on their briefness and impact to grab attention and spark interest. They work particularly well when introduced casually during networking situations or when time is of the essence. An example would be telling a potential investor “Our app reduces food waste by connecting surplus meals with local communities in need. Saving restaurants over 20% annually while simultaneously being sustainable, simple, scalable.”
The Investor Pitch
Your investor pitch goes beyond the elevator pitch. Here, it is your opportunity to present all aspects of your business, such as its problem you are solving, solution, market opportunity, business model and why you are the right person to execute this idea. Numbers, research and storytelling play key roles here. Investors want tangible proof and you can use data as leverage.
The Sales Pitch
Selling is an entirely unique pitching endeavor. A sales pitch looks to understand your prospect's pain points and propose how your product or service could solve their specific issue. A strong sales pitch requires extensive research about the person or organization being targeted. Personalization should always be part of its DNA.
The Creative Pitch
When pitching a concept for a campaign, movie, or piece of content to an audience, creativity takes center stage. The aim of creative pitches is to captivate and excite them with a vision that captures attention, which is often through visuals, storytelling and even risk taking tactics.
The Partnership Pitch
Forming successful partnerships involves looking out for situations in which both parties benefit, so this type of pitch should highlight those benefits for both. Your focus should be more collaborative than one-sided. Therefore, you need to demonstrate an in-depth knowledge of your partner's goals and values.
The Internal Pitch
Sometimes the toughest audience to present to isn't investors or clients, it can be your colleagues and leadership team. An internal pitch requires influence and alignment with all internal stakeholders. You must demonstrate how your initiative supports overall goals of the organization and convince internal supporters to support you.
Styles of Pitching
Your approach when pitching can make or break its delivery. Here is an overview of different approaches:
Storytelling Pitch
Humans are naturally drawn to narratives. A pitch that includes storytelling can elicit emotion and keep audiences interested for much longer. For instance, sharing how your product assisted one customer overcome their challenge can leave an indelible mark on them.
Data-Driven Pitch
Let the numbers do the talking, as this pitch style relies heavily on data to deliver its message. Hard evidence, charts, and statistics can be powerfully persuasive tools when presented effectively for analytical audiences. Just be careful not to overwhelm them. An elegant statistic or graph could prove far more effective.
Visual Pitch
Sometimes words alone just aren't enough. A visual pitch leverages tools such as slides, infographics or prototypes to make an even stronger statement about what your business can offer its target market. "Seeing is believing" rings true with many audiences.
Interactive Pitch
Don't just talk, engage your listeners. An interactive pitch transforms one-way communication into an open dialogue with questions and input from all involved. This approach allows for better connection while adapting on the fly.
The Conversational Pitch
Not every pitch needs to feel robotic or over-rehearsed. Sometimes, a more conversational style can make things feel more relaxed while still conveying key information about what matters to the audience. Think of this style of pitching as pitching without bells and whistles, keeping things casual while still communicating your key points effectively.
The Importance of Flexibility
One key aspect of pitching lies in its unpredictability. Things rarely go as expected with audiences or deadlines being tighter than anticipated, or someone may request for something entirely different than expected. Being adaptable and adapting your pitch without losing its core message are both valuable assets in pitching situations that arise unexpectedly.
Photo by Campaign Creators on Unsplash
Conclusion
Pitchmaking may not be a one-size-fits-all situation, but that's precisely the beauty of it. It requires you to get creative, remain versatile and truly understand your audience. By honing different styles of pitching and knowing when and why to deploy each one, you give yourself the best chance of inspiring trust while moving your ideas from concept to execution. Remember, creating the ideal pitch doesn't involve following an intricate formula but making an authentic connection.
