Imagine you are preparing to approach a prospective client. You have done all the market research needed to understand the edge your product or service has over your competitors. You have identified your niche for higher profitability and you have profiled the key decision-makers that will be targeted by your outreach campaign. Would you like your pitch to fall flat just because you did not dazzle the prospect?
With the help of the right product analytics tools, you can identify your prospects faster, see what they like about you the most, sell them the tools they have loved so far, and go the extra mile to give them what they did not know they wanted.
Give them the best you’ve got. But first, know what they need!
As you build your sales pipeline and start seriously considering particular prospects, there is usually a large amount of research involved. From market trend analysis to demand forecasting, getting as much information as possible about your prospect’s product or service, their current tech stack, and the health of their customers’ journey among many other indicators will take up a big proportion of the background intel before any sort of solid proposal.
In the meantime, you will also try to understand who the person you will deliver such a pitch to is: is it the CTO, the Head of Marketing, the Product Manager, the CEO…? Allocating the time and effort to try to understand how much your person of interest qualifies as the decision-maker you need will let you customize the tone and the type of results that your product will get them.
Up until here, everything is very business as usual: the salesperson does the research needed with data that is either publicly available and derived from, say, a paid lead-gen tool. However, applying analytics in this process would help you not only refine your search but also know exactly what about you has spiked the interest of your prospects the most, and develop your whole pitch around your strongest suit to take the conversion home.
You have what they need. Now give your product the wow factor it deserves!
Most likely, your product or service’s presence is made up of a website, plus web and/or mobile applications and a client-facing help center. The data obtained in each of the three gives you strategic leverage during pitch development, because:
The data obtained from these multiple touchpoints will basically be broken down into two groups:
Note that in both cases, this information can come from known users, such as those that are already registered — such as signed up for a demo or trial, subscribed to a newsletter, etc. — and from unknown users, information that will stay anonymous and compliant with data privacy regulations.
Tl;dr: You can consolidate both behavioral and demographic data collected and tracked from these touchpoints in a single platform like Countly. With it, you can start customizing the way you will approach and shape your pitch.
Obviously, what you have to offer your client is probably a much more complex solution than what they will be able to grasp in one discovery call. So you will focus on the features that your product offers that not only will have the highest value-for-money but that will wow them with a completely unexpected usage of their own data that may have gone completely untapped by them.
Finding that sweet spot will look completely different depending on what your business has to offer other businesses. So let’s run through a couple of scenarios:
You represent a health and wellness technology app and your lead is a Product Manager in a healthcare business trying to automate the interaction with customers/patients and foster their engagement with their health plans. The prospect has recently secured funding and will be trying to expand to Germany, where your own organization already has clients in the same industry.
You are trying to sell an adaptive customer identity authentication software to a traditional bank, which is transitioning to a digital-first approach for its customers, and you secured a discovery call with their VP. Before this point though, a mid-level manager has already agreed to use a demo of your product.
No two sales pitches are ever the same, and the variables will change a lot depending on who, when, and why you are talking to a prospect. Above, we have listed a very limited way in which adding product analytics into the mix while creating a sales pipeline may give you an edge in your approach. The more you know how your next customer is thinking, the more you can tailor your pitch to give them even more than what they expected.
Because of all the data you may need for your pitch, the more expansive the list of customizable product analytics tools you have, the more you can continuously tweak the metrics you will use, no matter who or where the prospect is. And, as your data needs grow, the most cost-efficient choice is to consolidate it all under one roof without having to pay more.
Crafting the perfect pitch may be hard but with product analytics, it does not have to be. Reach out to us or book your demo with us to discover how effective the sales pitch with your next prospect can be.