6 Best Shark Tank Pitches and What Made Them So Great
Feb 19th, 2015|
By Ryan Hanehan, Marketing Intern
What makes a sales pitch effective? On CNBC’s Shark Tank, it’s not only about the numbers and the idea, but it’s also about the presentation; the sales pitch. First, it’s important that the presentation is genuine. The audience, in this case the sharks, need to see that you really care about your product or service. A product may possess an exceptional sales record, but it will be tough for others to buy into your idea and invest in you if you fall flat on the presentation. That’s where a great sales pitch comes in.
There is a lot that goes into making a sales pitch effective. It needs to draw the audience in, tell a story, inform the audience, maintain credibility, establish a need, sell the value, and close the sale. On Shark Tank, not every sales pitch is convincing. But the following Shark Tank pitches were some of the best. Below you’ll find information on the best Shark Tank sales pitches and what made them so great.
6) ReadeRest, Rick Hopper
Magnetic eyeglass holder
Making a more convenient eyeglass holder is an idea that I’m sure a lot of people would invest in. So, Rick Hopper created a magnetic eyeglass holder that can be placed on your clothes. While presenting the product, Rick did an excellent job informing the sharks on why his product is needed. You can’t just take eyeglasses off and put them on the collar of a shirt, because it stretches the shirt out, and there is the potential of the glasses falling when you bend over. The way that Rick was able to verbally paint a picture for his audience was the reason the sharks bit on his product.
5) Breathometer, Charles Michael Yim
A Breathalyzer that plugs into your smartphone
Knowing if you’re sober enough to drive home is an important concern throughout the United States. To combat this situation and create a solution that is convenient; Charles made the first Smartphone Breathalyzer. To begin the presentation, Charles gave each of the sharks a glass of champagne, which was an excellent way to grab their attention and later show how the product works. It was this type of creativity that allowed him to come up with the idea as well as to create an effective sales pitch.
With drunk driving being a large concern in the country, Charles spent a majority of the time establishing the value his product would offer, and it was easier to see the opportunity that the product created because of the way the product was communicated.
4) Kisstixx, Dallas Robinson and Mike Buonomo
Flavor enhanced lip balm for kissing
Dallas and Mike pitched a lip balm for kissing. The idea behind it was that when you kiss someone, you taste several flavors creating a chemical reaction. A few ways their sales pitch was effective was by grabbing the sharks’ attention and keeping them entertained. Dallas began the pitch by describing his trouble in finding a lip balm that would prevent dry lips and also have a decent flavor. To show the product off, the two entrepreneurs convinced two sharks to try the product out by kissing each other. It was this type of energy and entertainment that made their pitch effective and memorable.
3) UniKey Technologies, Phil Dumas
Keyless entry system for homeowners
As technology continues to advance, new innovations will appear to make peoples lives more convenient. An example of this is UniKey Technologies, which aims to eliminate keys as a means of entering your home. The best aspect of Phil’s sales pitch was the research he did on his product and how he was able to assure the sharks that the investment was worth their while.
To assure the sharks that he would make a return on their investment, Phil mentioned Black & Decker’s interest in his product, as well as jokingly saying that he would sell all the products by himself if it came down to it. In the end, Phil’s charisma, his dedication, and thorough planning convinced the sharks to invest in his company.
2) Scrub Daddy, Aaron Krause
Not many people buy into infomercials, but Aaron Krause demonstrated how an excellent presentation can carry more leverage than the product itself. From the beginning, Aaron exhibited enthusiasm and passion for a product that few people get excited about.
Although the product had some intriguing features, what seemed to convince the sharks was how Aaron drew the audience in, identified his objectives, and sold the value. Aaron planned on using the money to produce more sponges in order to accomplish his vision of having Scrub Daddy in “every supermarket, drug store, Walgreen’s, (and) CVS.” To Aaron, the price didn’t matter because he realized the value it would give to people that spend a lot of time cleaning, which is how Aaron persuaded the sharks to buy into his vision.
1) Bubba’s-Q Boneless Ribs, Al Baker
De-boned rib steak
The 1978 Defensive Rookie of the Year in the NFL, Al Baker, turned a lot of heads with his de-boned rib steak. But that wasn’t the only reason the sharks bought into his idea. As soon as Al Baker started his pitch, he told the sharks that the reason he sought to create de-boned ribs was because his wife wouldn’t cook ribs because they’re too messy. A story many people can relate to.
Al’s passion for ribs cannot be overlooked when watching his pitch, and you can tell how that passion rubbed off on the sharks. What also made Al’s pitch successful was how prepared he was for every question. Every question the sharks fired at him, Al offered an immediate response that answered the concerns of the sharks. Being that prepared allows you to cover the various doubts that buyers will have.