How can you use a pitch to build trust with potential customers?

In product development, trust is of the utmost importance. When pitching a product, it's not just about showcasing value; it's about establishing credibility, reliability, and empathy. Trust is the critical piece that overcomes objections, minimizes friction, and fuels referrals. It unlocks a crucial dialogue, making customers comfortable sharing their needs, pains, and goals. This openness not only validates the product but also provides insights for continuous improvement. In essence, trust isn't just a foundation; it's the catalyst for successful, collaborative innovation.

When customers trust your brand, they're more open to collaborate and to provide honest feedback, essential for improving your products and services. Trust improve communication and can transform customers into brand ambassadors who willingly share positive experiences and recommend you to others. Last but not least, trust can help in retention and building longer-term relationship for years ahead.

Trust is no doubt the meat, and is the center of any relationship but trust needs competence. You are meeting a customer as a stranger, there is no trust to begin with so it's a much better approach to meet them as a compotent stranger. Competency is a much more reliable builder of trust and if coupled with tailored customer experience can yield referrals and thus expanding your business.

To build trust in a pitch, a strategic approach is key, encompassing both emotional and rational elements. Demonstrate understanding of your customers' problems, offering a unique, relevant solution. Bolster your credibility with evidence and expertise. Communication is pivotal—present your pitch clearly, concisely, and compellingly to resonate with your audience. Frameworks like storytelling, where you craft a narrative around your product, and social proof, showcasing endorsements or success stories, enhance trust. Additionally, employing data adds a rational layer, reinforcing the efficacy of your solution. Ultimately, a well-balanced, thoughtful pitch, addressing both emotional and rational concerns, lays the groundwork for trust.

While reputation is critical, accurately explaining the target's current situation and pain points shows that you not only listened in previous communications but are also knowledgeable enough to understand the scope and scale of the problems. Chris Voss says a resume loosely indicates your ability to do a job. While he was talking about an individual trying to gain another person's confidence, it is just as true between companies. A company saying it has 40 patents shows its inventiveness but doesn't necessarily correlate with its ability to solve a prospect's issues. However, accurately describing a company's issue to them greatly increases the prospect's confidence that your previous accomplishments indicate your ability to help them.

In my view, the Storytelling Framework works well to connect with potential customers emotionally and logically. The important part is making sure the story relates to the audience. It's vital to articulate why the addressed problem matters and demonstrate how our product or service adeptly tackles it. The use of this framework is evident in successful TED Talks, highlighting its effectiveness in delivering compelling pitches.

Too often I see engineering-driven solutions instead of marketing-driven solutions. Designing a product and trying to find a market need often leads to failure. It is imperative to work with the sales and marketing teams to define a market need and design a product to fit the requirements of the market. In the display industry, we have seen many product features and gimmicks give way to more reliable and sustainable product designs. Initially the market is intrigued by a specific unique product differentiator only to find out that the customers do not want or need that product. I can't emphasize enough for collaboration between departments. In summary, a product development is only successful if it fills a market need and is purchased.