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The Business Equivalent of an “Open Goal”

They may be traumatic, but presentations can win you business.

Whatever you sell, you need to be able to make a persuasive case for your product or service. Often this is not just a matter of one simple meeting. If this stimulates interest you find yourself at a meeting, then putting in a written quotation and then a message comes in inviting you to present your ideas to the potential customer’s whole board. If your heart drops at the thought of something formal – on your feet in front of an expectant group – then you are normal. Many people fear presenting. As the old saying has it: the human brain is a wonderful thing, it starts working on the day that you are born, and keeps right on – until the day you stand up to speak in public!

Presentations have been called the business equivalent of an open goal. They represent real opportunities. Of course there are skills involved, as with anything, but you can impress if you go about it the right way.

An opportunity

A well thought out and delivered presentation may be a vital link in the chain of events leading to a sale. It can impress. It can add something to the way in which you, and what you offer, are being judged. But make no mistake – this is fragile territory. People do not say – what excellent ideas, shame the presentation wasn’t better. They say – what a rotten presentation, I bet the ideas were no good either. It may not seem fair, but it is life. Faced with making a presentation your only option is to make good one. The question is, how.

The magic ingredient

So far as any magic formula is involved, the key can be stated in a word – preparation. You need to think about what you are going to do, set clear objectives and have plan to follow. Think about how long you have (ask what they expect). Think about what you will say first, second and third (a visible structure, which may need to be no more than a beginning, a middle and an end, is vital. Think especially about how you will start. A good start impresses, getting their attention and making them want to hear what follows, and getting off to a good start will give you confidence.

The case you present must be logical and the logic must be apparent. It helps to signal what is coming – first I am going to say something about timing, then installation and, of course, cost. Make some notes, and link them to any visual aids you plan to use (and it is valuable to use some). Notes need not be elaborate – key words may be a sufficient reminder to you – but they must be clear, easy to follow and preferably allow some flexibility. You do not want to sound as if you are just reading something. You should sound as if there is, at least in part, an impromptu element. This moves what you do from being just a standard “pitch”, to being something tailored for the individual customer you are talking to – and that is one thing that impresses.

Putting it over

So, you are ready. Look the part. Stand up straight. Take a deep breath. And use your voice. Just speak naturally at a volume that is right for the person furthest from you. Remember to breathe, and do so where there should be a pause (the verbal equivalent of the comma and full stop). Speak just a touch slower than in conversation and exaggerate – just a little – where you need emphasis. Use appropriate gestures and do not be afraid to pause to reinforce a point. And try to create real variety of tone and avoid a flat monotone.

At this stage you must have the courage of your convictions. You should know it is the right length, and that it makes a good case – because preparation (and maybe rehearsal) has told you so.

Finally, always remember your overall intention. This focuses your thinking and rewards you when it goes well. It is the customer finally saying, “Yes”.

The key elements:

• prepare carefully
• have clear intentions and objectives
• organise your notes and visual aids
• get off to a good start
• go through a logical structure and sequence
• use your voice (and gestures)
• end on a high note

The period between the product creation and the product launch is called pre launch. This phase consists of the research and studies on a product that can gain more profit. An interesting, Hi-Fi pre launch page should be created for the comments and suggestions of the public. Quick modifications should be made on the tips and advice made by them. Using a timer on the page can build up immense anticipation for the final day.

A unique and top line product will capture the show. Contacting joint venture partners will enable for a better promotion of the product. The product launch should be enthusiastic enough for the buyers to be attracted to purchase the product.

Conventions are the most popular method of product launching. The venue designated should captivate a crowd of audience. Traditional style of product launching will not be appealing, and ‘out of the box’ thinking is essential. An interactive conference will provide more participation of the public. Thus, a detailed idea of the product is attainable. Trade shows are less expensive as they are inclined on certain themes. For the product launch to be a success it must highlight the product itself.

A detailed market research is essential for a successful product launch. Reviews on former product launches will give a better idea on the methods of product launching. Competition prevails on similar products, and false information may lead to heavy loss.

When compared to trade shows, business seminars are more apt for a new product launch. Whichever method is applied, it should never fall into the hands of the competitor.

E mail marketing should be generated after a product launch. Joint ventures also will instantly increase the marketing. The products survive in the market with a proper product launch. Certain companies fail to promote their product just because their product launch was not up to the mark.

Even after the product launch many marketing campaigns should be done. The customers must have a feeling of justice. A product that prolongs the launching stage will be able to survive even in tough competition. Therefore, a successful product launch is often more than enough to decide the future of a product. After all, well begun is half done.

A coordinated product launching can be productive in many ways. A well-planned advanced launch always results in a truly effective product sale. Ensure the best of free media on such an event. Special offers are to be incorporated for maximum launch effect. An approach of comprehensive promotion is to be utilized.

Different marketing techniques are to be implemented. A professional must be able to assist at the time of product launch for the event to be a big success. Therefore, a complete study and analysis will bring about a more subtle change in the market.

Post launch follow up and action is as important as the product launch itself. Continuous updating and organization of the product leads to a perfect blend of both success and profit.

Many entrepreneurs struggle with pricing. They look at their costs, add a profit margin mark-up, and hope that people will buy at that price. When they don’t entrepreneurs resort to discount offers much of which is either ignored or results in developing a very expensive hobby rather than a profitable business.

The proper way to price your products in a competitive marketplace isn’t about adding up your costs and then allowing for a profit margin. It’s not about being the cheapest. To compete solely based on price is a recipe for disaster because once a more valued competitor meets your price your sales will likely grind to a halt.

The simple truth is your market doesn’t care about your costs. All they care about is how they value what you have to offer based on what else is out there – what else can help them solve a problem or achieve a goal of some sort. All they care about is what’s “in it” for them if they buy your type of product and why they are better off buying it from your company rather than your competitor.

As an entrepreneur, you care very much about your costs. To sustain a viable business you have to be profitable. Essentially you and your customer value your products and services through an entirely different perspective.

How do you align the value of your product in the marketplace? Through a very simple 5-step pricing process as follows:

1. Research competitive pricing.

A competitor is whatever product your market is currently using or looking at to solve their problem or meet their burning desire – even if that product or service is completely different from yours. What are the prices of your top 5 competitors?

2. Identify where your product fits in the competitive price range.

Remember, your market doesn’t care about your costs or the time it took you to develop your product. All they care about is how they value it compared to the other products they are considering. Based on the customer benefits and competitive advantages your product offers to the market (not costs or features) where does your product fit in the competitive price range?

3. Run your numbers (costs) to see if you can be profitable at this price.

In addition to your COG (Cost-of-Goods) you have other costs.

In this process determine how many products you’d have to sell each month in order to be profitable and what it will take (costs) to sell that many each month. Is this number realistic? What will it take (marketing costs, etc.) to reach this level of sales volume consistently?What is your burn rate until you reach profitability? Consider the difference between actual cash revenue realized each month and invoiced revenue that won’t be in your bank account until days, weeks or even months later.

4. Are you priced properly within the competitive pricing range?

If you can be profitable at that price then you are likely priced properly. If not, then figure out what advantages you have (or can develop) to justify an increase in price, an increase in the value placed upon your product by the market. Find ways to reduce your costs. Leverage channel sales and visibility partners to help you sell more volume.

5. Are you profitable at a wholesale level of pricing?

If you are selling your product through sales and distribution channels then make sure you can be profitable at the wholesale and distributor level pricing.

When you price your products based on how your market values what you offer you increase the value of your brand and the relationship you have with those you serve.