KOCHI: At some point in your startup life, you will end up doing a sales pitch. Whether it is for a product you built or for selling your idea, this is a presentation every startup person ends up having to make. Here are five words and phrases that you should be familiar with. AIDA: An acronym for Awareness, Interest, Desire, Action. The stages of decision-making that a consumer goes through until deciding to buy your product.
Bad leads: Leads are people who you target to pitch your product to. Bad leads are the ones that are unlikely to end in a sale. Churn Rate: A metric that measures how many customers you retain and at what value. It is number of consumers/clients you lost divided by total number of the same. Cold Calling: Making unsolicited calls to get potential consumers to buy your product. Much like the calls that we get from banks to apply for a credit card.Pain point: A specific need that your prospects might have on which you base your sales pitch.