3 Things to Remember When Planning Your Sales Pitch
Sales is a very important–yet often overlooked–part of a business plan. The truth of the matter is that you need a solid sales plan to get your product noticed and turn consumers into customers. But what are the elements startups should remember when planning their sales division?
1. Make sure you are financially set.
You know that cliche, “You need to spend money to make money”? Launching a startup isn’t cheap and you need to make sure you have the financial backing to keep you going until you start to turn a profit. Regardless of whether you’ve chosen to fund your startup through crowdfunding, venture capitalists or loans, you need to be sure that the funding is there for when you need it.
2. Know your product and know your market.
Both of these concepts should be obvious, but in case they are not: in order to successfully launch your startup into the competitive FinTech or InsurTech field, you need to know your company and product well enough that you can argue its worth to any potential buyers and you need to know your market to know how to work within it.
Are you actually the first company to launch a product and service in the field or do you have competitors? What makes your startup unique and profitable? These are things you need to know and use to survive those stressful early days. Use these facts to push your startup as the ideal investment.
3. Develop a solid sales and marketing campaign.
Yes, the product/service is important. But how you sell it may be even more important. Pitch it to the wrong section of the market and you’ll fail. Launch an unsuccessful initial marketing plan and you will fall flat before you ever taste success. Target your most profitable audience and research the best way to reach them. This will be especially important in the burgeoning FinTech and InsurTech markets, as you need to sell people on a new form of technology and the wrong sales campaign will send them to your competition.
In order to grow your business you need to increase your customer base and revenue and a successful sales plan is the best way to achieve this. Create a plan that reaches your target audience and watch as your revenue grows.