How can you create a sales pitch that highlights the cost-effectiveness of a banking product?

1 Know your product

Before you can convince anyone else, you need to know your product inside out. What are its features, advantages, and disadvantages? How does it compare to similar products in the market? How does it fit the needs and goals of your target audience? You should be able to answer these questions with confidence and clarity, and use them to craft a compelling value proposition that summarizes the main benefits and differentiators of your product.

2 Know your customer

The next step is to understand your customer and their pain points, challenges, and aspirations. You can use various techniques to research and segment your customer base, such as surveys, interviews, personas, and customer journey maps. The more you know about your customer, the better you can tailor your sales pitch to their specific situation and preferences. You can also use empathy and rapport to build trust and credibility, and show that you care about their problems and solutions.

3 Know your numbers

One of the most effective ways to highlight the cost-effectiveness of a banking product is to use numbers and data to back up your claims. You can use examples, case studies, testimonials, or calculations to demonstrate how your product can save money, increase income, reduce risk, or improve performance for your customer. You can also use comparisons, contrasts, or scenarios to show how your product is superior or more affordable than the alternatives. However, be careful not to overwhelm or confuse your customer with too many or too complex numbers. Use simple and clear language, and focus on the most relevant and impactful figures.

4 Know your objections

No matter how good your sales pitch is, you will likely face some objections or questions from your customer. These could be related to the price, the quality, the terms, the timing, or the trustworthiness of your product or company. You should anticipate and prepare for these objections, and have ready responses that address them effectively. You can also use techniques such as reframing, overcoming, or reversing to turn objections into opportunities to reinforce the value and benefits of your product.

5 Know your call to action

The final step of your sales pitch is to prompt your customer to take action. You should have a clear and specific goal in mind, such as signing up, applying, or buying your product. You should also have a clear and compelling reason why they should act now, such as a limited offer, a deadline, a bonus, or a guarantee. You should make it easy and convenient for your customer to take the next step, by providing clear instructions, contact details, or links. You should also follow up and confirm the action, and thank your customer for their interest and trust.

By following these tips, you can create a sales pitch that highlights the cost-effectiveness of a banking product, and convince your customer to choose you over the competition. Remember, the key is to focus on the value and benefits of your product, and how it can solve your customer's problems and help them achieve their goals.