Whether you’re reliant on in-person networking or Request for Proposal (RFP) processes, pitching for new and recurring client work is inevitable. With 5.54 million small to medium-sized businesses (SME) businesses in the UK, significant opportunity exists for service providers who compete for new business effectively.
Key points
- Effective pitching is key to winning new and recurring client work.
- Refining your value proposition is critical to mastering the pitch.
- Effective communication, storytelling and credibility markers can set you apart.
If you’re an accounting professional working within a business, internal pitching is how you showcase your value and get key stakeholders to buy into new strategies.
But if you’ve relied on inbound strategies so far, transitioning to pitching can feel complex. With digital accounting platforms and lower cost automated solutions on the rise, the market is now more fractured and competitive. Standing out with a compelling pitch is essential to differentiate yourself from the competition.
Define your value proposition
To prepare well, review your value proposition – it may require updating. If you’re working within a business, view this as your personal elevator pitch.
A strong value proposition is key to positioning yourself as a specialised service provider who can solve the specific problems your prospective client has. It shows them how you’ll deliver the tangible outcomes they want.
Mindset coach for accountants and bookkeepers Kim Searle says, “the key to success isn’t just in the numbers – it starts with listening”.
“Listening will help you tune into unspoken concerns, needs and priorities which are highlighted by asking questions of a client,” she says. “This builds a sense of trust (who doesn’t love being listened to) but then enables the accountant to offer relevant solutions that will work for the client.”
There are three key elements to a powerful value proposition:
- Relevance to your audience
- Benefits they’ll receive from working with you
- The differentiators that set you or your firm apart.
Do you stand out due to your industry specialisation, highly personalised service or how you use innovative technology? Whichever you choose, ensure you can offer case studies, referees and data to back up your claims.
Research and understand the prospect
Before you pitch, it’s recommended that you strategically analyse your prospect.
Leverage your network, industry reports, marketing materials and tools like LinkedIn to understand trends in their industry, their business model, goals and challenges.
This can help you determine what they’re likely looking for help with, whether it’s tax efficiencies, managing cash flow or navigating complex regulatory changes.
Understanding this is critical before you start drafting your pitch, as it must identify and highlight which of the benefits you offer your prospect most cares about, and why you’re best positioned to deliver them.
Craft a clear, compelling pitch
Your clarity of communication and how you articulate your value is at the heart of a compelling pitch and can help you position yourself as a trusted business advisor rather than a “tax time only” resource.
Ensure your pitch format suits your prospect and is benefits-led. Instead of a dry presentation about your firm, speak to the client’s needs and goals.
Experts suggest your pitch could include:
- A master narrative that links to the prospect’s overarching goals and your value proposition.
- How you will solve the pain points you identified during your research phase – if the client struggles with cash flow, offer more than just year-end financial statements.
- Results for past clients.
- Your process: how you can repeatedly drive outcomes.
- Analogies and examples to relate financial concepts to everyday business situations.
- Suggested timings and next steps.
Jenny Segal, author on workplace culture, says accounting professionals can find engaging prospects with facts and figures a challenge.
“Too often, important financial concepts come across as dry, dull and distant as we fall into the trap of thinking that, because finance is important, we need to be serious about how we communicate it. We need a compromise, working harder to make ideas come to life, to make them relatable as well as accurate,” she says.
When supporting your pitch narrative with financial data, Ms Segal suggests accountants consider the framing.
“Storytelling is a powerful grabber, something colourful and relevant that invokes an emotional response – for example, ‘does saving an additional £x per month result in an extra £y per annum at retirement, or two weeks’ post-retirement each year in the Maldives?’” she says.
Reinforcing your reputation
Trust and credibility are key purchasing drivers, so ensure you offer transparent advice throughout the pitch process and use credibility markers like client testimonials, case studies and references to demonstrate your expertise.
Your industry experience can be subtly signalled throughout your pitch through logo certifications, professional body memberships, board positions and linked thought leadership content.
Mastering the art of pitching often takes years. But, by honing your value proposition, conducting thorough research and clearly communicating your value with data and credibility markers, you can start to set yourself apart in the competitive market.
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