The Art of Persuasion: Tailoring Your Pitch for Retail Buyers vs. Investors

The key to a successful pitch is ensuring that your message resonates with your audience – in this case, the retail buyer vs the potential investor.? That requires a balance of finesse and art, facts and feelings, content and context.? Before you dive into delivering the perfect pitch, make sure you understand which type of pitch you’re delivering and tailor your message accordingly.? ?The key differences between a sales meeting pitch to a retail buyer and a pitch to investors revolve around the focus and objectives of the pitch.

For a retail buyer, the pitch is typically product-centric. It emphasizes the product's fit within the retailer's current product lineup, how it meets the retailer's customers' needs, and how it will drive sales and profits for the retailer. The pitch should include details such as pricing, margins, marketing support, and logistics. It's about convincing the retail buyer that your product will sell well in their stores and contribute to their category goals.? Retail buyers are responsible for delivering profit for their category – typically measured in sales per square foot.? When considering a new product, buyers want to understand how your product will perform vs the next best alternative.? A successful pitch must include an understanding of your business and the retailer’s goals for their business.

For investors, the pitch is more focused on the business opportunity and potential return on investment. It includes a broader view of the company, including the business model, market opportunity, competitive landscape, financials, and the team's ability to execute the business plan. The goal is to show investors that the company is a good investment opportunity with a solid plan for growth and profitability.? Information about the founder and the leadership team will likely come into play, as well as the foundational elements of the business.? A successful pitch must include the founder’s ability to demonstrate their ability to lead and be led for the sake of the company’s future.

Here are some common mistakes to avoid in a sales meeting pitch:

• Providing too much information: Overloading the buyer with details can lead to disengagement. It's important to be concise and focus on the points that are most relevant to the retailer and the buyer’s category.
• Using off-putting language: Avoid using jargon or phrases that might not resonate with the buyer. Keep the language clear to avoid missteps.? ?
• Keeping it generic: Tailor the pitch to the specific needs and interests of the buyer rather than using a one-size-fits-all approach. ?For example, Target refers to their shoppers as “Guests” while other retailers call shoppers customers.? It’s important to demonstrate an understanding of the retailer, which includes their terminology.
• Lack of visuals: Incorporating visuals can help to break up the monotony of a pitch and make it more engaging.
• Not leaving enough time: Ensure there is ample time for product sampling/demonstrations, discussion, and questions. Rushing through a pitch can be off-putting and shows that you failed to manage the time effectively and prepare adequately for the time allotted.
• Playing hard to get: Being overly elusive or difficult to contact can frustrate buyers. Be responsive and available, particularly to follow-up requests for product samples, information, and additional meetings.

In summary, while both pitches aim to persuade, the retail buyer pitch is more about the product's success in the retail environment (and quite frankly the buyer's growth goals), and the investor pitch is about the company's overall potential for growth and return on investment. Knowing the difference and making the necessary adjustments based on the audience will increase success rates.? ?