The Art of the Virtual Pitch, Part 1: Perfecting Pre-Pitch Engagement

Pitches aren’t always won in the room. That’s great news right now because it might be a while before we’re even in a room together again. Pitches are won by what you do before, during, and after the pitch. Over the next few weeks, I’ll be sharing my best insights on the art of the virtual pitch.

Pitches aren’t always won in the room. That’s great news right now because it might be a while before we’re even in a room together again. The flip side is that every other element of winning business has become a little more challenging. Pitches are won by what you do before, during, and after the pitch. Over the next few weeks, I’ll be sharing my best insights on the art of the virtual pitch.

First, let’s talk about wowing potential clients before the pitch even happens. Without the benefit of face-to-face meetings, you’ll need new ways to engage with the client and show that you’re hungry for business.

It’s Business, and It’s Personal

Now is the time to get super creative about showing off your personality. Clients aren’t just buying capability; they’re also looking for chemistry. You’ve already put some thought into the team pitching this client, so dig into your thought process there. What are the skills each person has? What makes them indispensable to your team? When clients feel like they already know you before your pitch meeting, your proposal will go that much smoother.

A technique I love (and that you can tweak and reuse often!) is compiling something engaging to show off your team. Think of it like a totally juiced up business card. You could frame it as a yearbook, a set of baseball cards, the cast of a TV show — anything you think will get a second look. Including names, photos, and specialties is a given, but this should be fun, too. Consider including information like favorite quarantine activity, preferred pitching soundtrack, or last book read. Or lean into the yearbook concept and give everyone a superlative. Emphasizing personality is going to be crucial in the era of virtual pitches.

Make a Grand Gesture

When I was assisting Paypal’s push to expand into working with small businesses, we set up interviews with small businesses and profiled how PayPal could help. One of those small businesses was a great little chocolate maker, so we had them design special PayPal logo chocolates that we delivered on Valentine’s Day.

I also fondly remember a campaign we orchestrated for Discover. We wanted to upend the old notion that Discover cards aren’t widely accepted. It was at the height of the Cronut craze in NYC. So, a box of the city’s most sought after treats with a receipt showing we paid with a Discover credit card said it all.

Okay, so both of those involved snacks, and we know food can be a positive motivator and fan favorite to receive. But right now, something that supports your clients’ community could be a great move as everyone is looking to support one another through a public health crisis.

Whatever You Do, Don’t Be Afraid to Be Different

The virtual pitch isn’t new, but conducting remote business on this level is uncharted territory for many, so feel free to break out of your usual approach. Ultimately, this all comes down to romancing potential clients, so if you missed my post about “dating” clients, check it out now.

Remember, clients are not just buying capabilities from you, they’re also buying chemistry with you. Help them get a sense of who your team is and why they’d be awesome to collaborate with.

I’ll be back soon with tips on collaborating on a winning deck … remotely.

Why Don’t Millennials Use Cash?

When’s the last time you saw a Millennial pay with cash? Even convenience store purchases of less than $5 are paid with a debit card. Coffee in Starbucks is paid via cell phone. Money is exchanged between friends using PayPal and Venmo.

As I paid a dinner check, my Millennial daughter affectionately quipped, “You old people and your cash!”

My response was, “Everybody likes cash!” I was wrong of course, (and perhaps prejudiced by my South Philly roots, where some businesses are still “cash only” for one reason or another).

When’s the last time you saw a Millennial pay with cash? Even convenience store purchases of less than $5 are paid with a debit card. Coffee in Starbucks is paid via cell phone. Money is exchanged between friends using PayPal and Venmo.

Many of the Millennials I give birthday gifts to prefer gift cards to specific retailers, like Home Depot or Banana Republic, rather than cash that they can spend anywhere.

A survey by TD Bank of 1,300 Americans, reported in ABA Bank Marketing last month, found that 25 percent of Americans either currently use or have used a reloadable prepaid card in the past two to three years. But among Millennials (ages 18 to 34), this proportion jumps to 33 percent. According to FICO, more than one-third of Millennials are expected to use a mobile wallet in 2015. (Opens as a PDF)

Professor Bernardo Batiz-Lazo of Bangor University, Wales, speculates that Millennials’ predisposition for non-cash transactions could eventually result in the demise of ATMs. His blog post reprinted by Newstex last month states:

“Perhaps the biggest issue shaping ATMs in the near future will concern the choices of Millennials, those for whom the Internet, mobile phones and plastic cards are a fact of life, checks are unknown and cash is quaint. They challenge financial institutions and their business models to do more, faster because they have easier and faster access to better technology than offered by the banks’ legacy systems through the multitude of apps on their smartphones, wearables, tablets and elsewhere. Left to their own devices, Millennials could spell the end of the ATM by 2035 or thereafter.”

Now of course the use of electronic payment methods is not limited to just Millennials. Boomers and Silents are also moving away from cash transactions, but Millennials are certainly leading the charge. If your business requires a minimum purchase to use a card, you’re probably losing customers among the largest demographic group. Millennials represent 24.6 percent of the population vs. 23.3 percent for the Baby Boomers.

I’m waiting to see the first panhandler with a card reader. Let me know if you spot one.