Effective sales pitch in COVID : transform sales through conversation

The COVID-19 pandemic shook the world in more ways than one, leading to a significant shift in the business world, especially consumer behaviour. The customers are now conscious of their spending habits and assess their requirements more sternly to ensure they spend wisely on products and services that matter and offer absolute utility. At the same time, many also lost their jobs, leaving them vulnerable.

As the world adjusts to the new normal and consumer behaviour reflects the pandemic-learnt lessons, businesses need to be thoughtful towards their clients when pitching in the new normal. As a business, you have to rethink - what is a sales pitch in today's times and how to interact with customers given the changing preferences.

Here are some tricks that can guide on how to interact with clients in the new normal:

1. Acknowledge the modified consumer behaviour:

Rethink how to interact with customers in a sales oriented setup and then pitch your product. Adapt to the changing customer mindset, where they are more conscious about what they are buying, why they are buying the product/service, and more.

Do not focus on specifying the pricing outright since your customer is more budget-conscious now, instead modify your sales pitch to ensure it communicates the value of your product/service and why they should agree to pay the ask price. Also, if possible, focus on providing them with value-oriented pricing that fits their budget.

2. Be watchful of your tone:

When you are considering how to do a sales pitch, ensure your tone reflects concern and empathy for them, especially in today's scenario when customers are holding back purchases because of the pandemic. The customer is likely to positively respond to your sales pitch when they see you are offering a highly valuable proposition. How you project to your clients during this time can impact how they see you for years to come. So, be careful about what you say in your sales pitch and your tone. Consider using story-telling in your sales pitches. Reach out - but with support and not just marketing. 

3. Highlight how your product/service is an asset:

As a business, when you are pitching to your clients in the current environment, you have to make your client understand how your product or service will be an asset during these times. For instance, if you are selling insurance, make your client understand how having health or life insurance will help them stay financially secure even during a pandemic.

Alternatively, if you are pitching a personal loan to a customer, make them understand how they can use these funds to create supplementary income sources and the ease of getting a personal loan. For instance, the IDFC FIRST Bank's MyFIRST Partner referral rewards program allows one to earn money for a personal loan referral through the partner app without any hassle. Furthermore, the IDFC FIRST Bank offers up to Rs. 40 lakhs of personal loan with interests starting from 10.49% only, thus making it a fruitful product for anyone looking to secure surplus funds for a wedding, home renovation, or gain financial stability.  

4. Explain the product benefits:

When you consider how to interact with customers, focus on the benefits your product/service offers and how it helps to reduce risks. Explain in detail each value-add that your product offers. For instance, if you are pitching a personal loan to a customer, focus on how having this financial product can help them stay afloat during periods of unemployment, salary cuts, etc. Make them understand the ease of getting a loan, such as quick disbursal, low-interest charges, minimal documentation, and more. Similarly, in the case of health insurance, layout details like coverage, annual tests, inclusions, etc., making the product stand out. 

5. Be sensitive towards your customers' concerns:

Whether you are wondering how to interact with customers on the phone or ways to improve your customer interaction, the crux is to be sensitive towards the customer. Do not use marketing language or appear transactional; instead, personally engage with the customer and understand their concerns and problems. Most customers are worried about their job security, professional careers, future growth, upcoming expenses, and more, and this behaviour can reflect in their buying patterns. Hence, aim to resonate with the customer and be sensitive towards their concerns to help them feel that you care.

6. Meet your customers where they are:

Customers' expected buying points and patterns have changed in the new normal. Simple activities like visiting the bank branch, going to a grocery store, dining out, etc., have reduced, become risky or even restricted sometimes. In such a scenario, if you want to make your sales pitch effective, meet your clients where they are. Innovate digitally, expand and support contactless delivery, promote minimal effort purchase, and more. For instance, if you are pitching a personal loan to your customer, explain how they can avail of a personal loan within a few minutes without visiting the bank or submitting lengthy documentation. 

7. Focus on building long-term relationships:

Focus on building long-term relationships with the client as that can also lead to referrals. Make the client understand your product, its benefits, pricing, etc., by highlighting all relevant product details and enabling them to make an informed decision. Do not hard-sell a product/service or dupe the client with false hopes.

By using these smart strategies, you can effectively pitch your product/service to a prospective client in the new normal and increase your chances of conversion. Adopting these strategies can also help you successfully start your second income with IDFC FIRST Bank's MyFIRST Partner App. Use these effective sales pitch techniques to refer personal loans by IDFC FIRST Bank to your customers and get a payout of 1.5% on each disbursal, which can allow you to earn over Rs. 50,000 and more per month.

Furthermore, IDFC FIRST Bank's MyFIRST Partner Program requires zero investment where you can register for free and start earning by signing up within 5 minutes.

If you are new and want to learn how to interact with customers in sales or need some support in how to improve customer interaction, the IDFC FIRST Bank's MyFIRST Partner Program also provides dedicated support and mentorship through experienced Relationship Managers and a central helpline.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.