The elevator pitch is dead! As sales people in the managed services provider (MSP), cloud and IT services markets, we practice and practice in front of the mirror to perfect our pitch. Often times we only have a short time to keep prospects interested before we throw up all over them. Why do we think the elevator pitch is a good way to promote our brand and company?
In reality all the prospect is thinking is, “I can’t wait until this self-centered guy gets done talking about his blah blah product so I can get on with my life.” Sure, every so often you’ll get someone who is really interested, but come on, how often is that? There is also good chance if they have run into another IT guy, your pitch is the same as theirs.
The Real Goal
The main problem is that by focusing on the elevator pitch, you’re missing the key point of being a professional sales person: selling is all about understanding.
If you don’t understand from their perspective, how can you possibly attempt to sell them something? Plus, the guy you ran into in the elevator, at a mixer, or wherever; what role does he play? If you go blabbing on about how awesome your virtualization of your BDR is when he is a sales director, you have missed the mark completely! To truly give a successful pitch, you must understand who your audience is and what they care about. If he is a sales director, all he cares about is making money and closing deals, so he won’t care about virtualization.
When we sell Managed Services effectively we don’t give quick pitches, we give presentations! Understand your audience, understand their position, and then you’ll know how to sell them.
So, where should you start if it’s not an elevator pitch? It’s Simple: SPA vs. PAS. We often times sell on the Solution, then try to figure out what their Problem is and then back track when they come up with objections and alternatives to what we are trying to sell. This is why you can’t close deals and this is why you’re not making your commissions!
Now, at CharTec, we teach you to sell a bit differently.
- You first find out what their Problem is, and then you let the Objections come through.
- They will give you Alternatives; but here is the kicker, you haven’t told them what the solution is yet!
- The ball is in your court; you know what their Problem is and what Alternatives they have, so you can rock them with the perfect Solution.
Guys, this is how you sell Managed Services, this is how you close deals, and this is how you beat out your competition. CharTec trains on all of these winning solutions from our MSP (not our past, but our current MSP) proven in the field by our own MSP and Partners around the world.
Alex Rogers is CEO of CharTec, which specializes in MSP training, hardware as a service, and other solutions for MSP peer expertise. Check out the CharTec Academy training. Monthly guest blogs such as this one are part of MSPmentor's annual platinum sponsorship.