Pitching skills can be described as the way you communicate the value and benefits of a service or a product to your clients to persuade them to take action. They are also the skills you use to communicate the value of your service to potential clients, so that they trust you with their financial future and ultimately win their business.
Whilst you probably have your own tried and trusted methods and ways to demonstrate to others your value (see our article Articulating your value for more information) and that of the services you provide, it is good practice to routinely assess your performance and understand ways in which you can enhance and increase your pitching success. This can be particularly valuable for those who are new to the profession and learning their new skills.
In this article we will investigate ways to improve your pitching success, looking at communication skills and focusing on positive body language and eye contact. We will also suggest ways in which technology can be used to full effect, maximising the impact of PowerPoint presentations and other ways in which information is presented to clients during meetings.
Putting all these aspects into practice should lead to greater pitch success and facilitate business growth alongside a loyal and long-term client base.
1. Why are pitching skills important?
Being able to pitch successfully is a key skill to engage with and acquire new clients. In addition, being able to convey financial concepts and advice in a clear and convincing manner builds trust and credibility with your clients, which leads to long-term relationships and a committed, loyal and trusting client base.
What are the key areas on which to focus to improve pitching success?
Communication
An ability to communicate well and adapt your style according to your client will stand you in good stead.
It is good practice to adapt your communication method according to your client: some clients may find information in a digital format easier to digest; others may prefer a printed document to read through in their own time. Whichever method, you will need to be prepared for all options and have information ready and accessible.
Alongside adapting your communication pattern according to your client, communicating complex financial concepts clearly and in an organised manner is also essential to make your pitches the most successful they can be. It is good practice to consider the language, tone and delivery of content, even practising the pitch if necessary, to ensure that the information you are conveying is clear, easily understandable and delivered at the right level to match the sophistication of the audience.
Ensuring that your client has a full comprehension of all aspects of the financial activity you are undertaking for them will strengthen your client relationship and enable greater transparency to your relationship, which, it is hoped, may lead to a client relationship built on this trust and loyalty.
In the same way that it is hard to trust someone who doesn’t look you in the eye, your clients may feel the same way if your delivery of information regarding investments, financial products or services feels insincere or lacking in confidence. The element of trust must be present to establish a strong relationship with your clients. Your body language must convey a confidence in your knowledge, a trustworthy personality and an openness and transparency around your service offering.
Presentation and technology skills
Pitching with the addition of technology can enhance your presentation, making your proposed offering both more professional and more appealing. To use technology most effectively for your client presentations, it is important to make them visually appealing, keeping the content relevant and concise and not overloading it with text. We provide more detailed advice on presentation in section four of this article.
You can make use of our coaching aids in your presentation by accessing them here.
What benefits will good pitching skills bring to my business?
Being able to convey your professionalism, knowledge and trustworthiness in one meeting is no mean feat, but doing so will bring a plethora of benefits to your business. These include:
New clients
Being an effective pitcher will, most likely, convert your prospective clients to being new clients.
Business growth
Additional clients will mean business growth, but an ability to pitch new products or services to existing clients brings with it additional revenue and clients who receive more value from your relationship.
Loyal long-term clients
Clients who receive more value are more likely to stay with you and, over time, expand their use of your services, thus demonstrating trust in your business and loyalty to you.
Confidence in your offering and sales techniques
Being proficient in pitching and converting pitches into sales is a great way to increase confidence and self-assurance. This confidence can be translated to other areas of your business, such as team leadership or writing communication.
Increased brand awareness
Using your brand’s logo, colours and fonts alongside a well-crafted pitch that incorporates your brand message and values can increase awareness of your brand and make your business stand out from the competition. Consult our article, Building a brand, for a full guide to producing and promoting your company’s brand.
2. How to improve communication skills
Being a good communicator is imperative for success as a financial adviser. Communication is your most important asset: if your clients don’t understand a product or service, they will unlikely feel comfortable investing in it, or trusting your advice.
Developing your communication skills to be clear, concise and consistent will bring tangible benefits to your business and it is worthwhile making sure that all your client communications are as clear as they can be.
Here are a few ways you could look to make improvements:
Listen. Good communication starts with active listening. As Richard Branson said, “Listen more than you talk. Nobody learned anything by hearing themselves speak.” Seek to first understand your client before offering solutions.
Engage in dialogue: Effective communication is a two-way process so ask questions, clarify your understanding, and encourage clients to share their thoughts or concerns. With this information, you can then tailor your offering to their situation.
Think about your choice of language. All businesses have jargon unique to their industry, but be aware of what your client may or may not understand. Avoid technical phrases or acronyms where possible: they can be alienating and therefore off-putting to your client.
Put the offering in context. Relating financial concepts back to your client’s specific situation or goals is a great way to engage your client and enable them to understand the relevance of your suggestion.
Visual aids are effective. They can add a different dimension of understanding to simply viewing words or numbers. Charts, graphs and videos are all useful to make complex financial concepts more understandable and the information easier to digest.
Focus on the big picture. Whilst it is easy to get caught up in the minutiae, focusing on the overall benefits and implications of concepts can help clients to understand how each aspect fits into their overall financial plan, as well as how it will help them to reach their goals.
Make your communication relevant. Tailor your communications according to your client. Read their body language and adapt your presentation or meeting accordingly. If they appear rushed, then don’t dwell on small talk and get straight to the point of the conversation. Every client is different so they should be approached in the most suitable way.
3. How to improve your PowerPoint and technical skills for maximum pitching effect
PowerPoint is the primary presentation software when it comes to presenting pitches, and for good reason: utilising its effects and full multimedia options can make for an engaging and exciting presentation. However, all too often, those presenting simply read out the text on the slides, leaving the overall effect flat and listless. Don’t fall into this trap.
Here are our top 10 ways you can make sure your client PowerPoint presentation has the maximum pitching effect.
Remember the 10/20/30 rule. When creating your PowerPoint slides, focus on simplicity and clarity. Guy Kawasaki, of Canva and formerly Apple, devised a well-regarded 10/20/30 rule for presentations that states that they should consist of no more than 10 slides, last no longer than 20 minutes and use a minimum font size of 30 points. Whilst it is true that your client meeting will in all likelihood last longer than 20 minutes, the rule is still useful to heed, noting that people can only comprehend and remember 10 points from one meeting. Less is sometimes more.
Do use visuals. Don’t be put off from using them all together: graphs, charts and images can help to make complex concepts easier to understand whilst making the whole presentation more interesting and engaging.
Don’t write too much text. Use the spoken word to highlight the points you wish to make. Don’t read the text from the slides as often happens.
Use bullet points and short phrases: these are much more memorable and catchy.
Think about the structure. Keep your audience in mind and focus on the most important information. Start with an attention-grabbing introduction that highlights the benefits and relevance of each concept to the client.
Use each slide to build on the one before. This way it tells a story, engages the client and builds on the information given.
End with a call to action, such as scheduling a follow-up meeting, a phone call or a specific investment action.
Practise, practise, practise! Make sure you know what you are presenting and can present it with good delivery and timing so you are confident and comfortable with the material.
Seek feedback. Presenting to a colleague is a great way to assess whether your content is relevant and clear and that your delivery is good.
Be on brand. For presentations across your company, use the same branding, colours and font, maximising your brand image and creating a memorable, recognisable corporate identity.
4. How to improve your use of body language and eye contact
Impressions are made not just by what you say but by how you say it. With this in mind, take some time to consider your body language during your client meetings to ensure that it matches your words.
Consider the following aspects of body language during your next client meeting:
Think about your posture. A confident, open posture is an important element of positive body language. When meeting with clients, especially during your first introduction where you need to make the most positive impact, ensure that you’re sitting or standing up straight to demonstrate confidence and professionalism.
Try to avoid fidgeting: this can make you look nervous or distracted.
An open posture with arms and legs uncrossed demonstrates a sense of openness and honesty. By crossing your arms or legs you can look defensive or unsure.
Make eye contact. Doing so will show you are engaged with your client, demonstrate sincerity and can help to build a rapport. People who do not make eye contact can seem disinterested or lacking in confidence.
Use gestures. Gesturing can help to reinforce important points and can make your pitch more engaging, but make sure you are doing this naturally and that it does not seem contrived!
Record yourself and watch for improvements. Whilst undertaking this exercise may feel embarrassing, it is a worthwhile activity so you can see what others see. Don’t be hypercritical of yourself though and note the positives as well as areas that you could work on. These may include, for example, increasing eye contact, using more confident gestures or avoiding fidgeting.
Conclusion
Good pitching skills are vital for sustaining and growing a successful financial- advice practice. Focusing on presenting a clear and compelling value proposition to clients and tailoring this to their needs and priorities will help to ensure a successful pitch. In addition, honing your presentation skills and working on demonstrating open and honest body language are also important elements to consider.
Action points
Review the presentation pack you currently use. Is it really as good as it could be? Does it motivate and tell a compelling story? Use the 10 steps in section four to work on your presentation to improve it where necessary and make it engaging and interesting for your client.
Consider your most recent client introductory meeting. Did you engage in actively listening to your client? Did you ask open questions? In preparation for your next client introductory meeting, write down three open questions that would help you find out more about your client and understand them better so you can add value to your client relationship.
Now consider your body language in your meetings. Record yourself presenting your PowerPoint presentation and then review the recording. What elements of your body language are positive and are there any which could be improved? Whilst this can be an excruciating experience to undertake, there are many benefits to seeing yourself as your client sees you and it is a very useful learning tool.
Is there a person in your team whose body language and presenting skills are always good? If so, it is a great opportunity to learn from them and put into practice the skills that they have perfected. If they are willing (and the client gives permission) you could ask to observe their next client meeting and see how their confidence and language influences their relationship with their client.
Read our article Influencing skills for techniques to persuade and influence others to build trust and confidence in your client relationships.
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This document is directed at professional investors and should not be distributed to or relied upon by retail investors.
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