Dmytro is the founder of Solvid and Pridicto. Featured in Hackernoon, TechRadar and Entreprepreneur.
A good pitch tells the story of your idea. From its inception to its present form and everything in between. Utilising multimedia, graphs and visuals is a good way to keep your audience engaged and up to speed. Most fundamentally, using data is important for both your audience and your idea.
Prestigious design and acute functionality of your presentation will naturally enhance your pitch. But in today's world, investors, reporters and clients will see right through your efforts to conceal poor quality content with pretty colours and modern graphics. Craved by stakeholders more than ever before, is transparent, accurate and constructive data with which they can make well-informed decisions.
Not only does the vigilant use of real-time data produce the perfect breeding ground for good decisions for your stakeholders, but it also enables you to develop a deeper understanding of the implications of your project, its viability and its prospects.
(The adoption level of AI in business organisations worldwide since 2017. Image Source: Statista)
This statistic presents the level of artificial intelligence adoption among businesses worldwide as of 2017. 78% of respondents are either extensively incorporating AI in their organisations or have plans to do so. With every industry delving into the use of Artificial Intelligence and Big Data in business strategy, its application in your pitch is not only necessary but expected.
If artificial intelligence is intelligence demonstrated by machines in contrast to that demonstrated by humans, such as decision making, visual perception, translation between languages and data filtering; how then, should a business proposition, pitch or presentation make use of AI to exploit its merit?
It’s all well and good announcing to your audience your long term aspirations and successes of the future of your project. After all, you’re hardly going to declare its imminent failure to its future prospects. Rather, using AI to assemble predictive analytics should help to win over a few key players. Use attractive ‘future trend’ templates to showcase your data and highlight positive sentiment.
The practice of extracting information from data sets to predict future trends has reached a pivotal point. Previously, it was only possible to determine trends from datasets in the past.
Image Source: VoucherCloud
Today, over 2.5 quintillion bytes of data are created each day and by 2020, it’s anticipated that 1.7 MB of data will be created every second for each person on earth (Domo). Our record high accumulation of data with the help of AI means that we can reliably model and make decisions based on real-time data.
An expert survey conducted in the UK in 2019 on the relevance of predictive analytics showed that 19% of respondents rated its relevance for their business as very high (Statista). In the interest of gaining support in a business pitch, positive future predictions surrounding your business model is supported by trusted and reliable artificial machine gathered data.
Filtering your data to set conditions so that only certain selected data is displayed can help to make it easier to focus on specific information in a large dataset. It is a crucial component of a successful pitch as it allows you to draw your audience's attention to a specific element of the data.
One of AI’s strongest attributes is its ability to manipulate large datasets in a way that is impossible for humans to do. Leader in Account-Based Marketing, DemandBase, has used AI to filter out companies from its list of prospects that would lose them money in the long term. Their strategy was simple. They took the elements that made customers churn within a year, and removed said elements from the criteria model.
Refining your target account list to concentrate on successes is a great strategy and probably one you’d discuss in your pitch. Explaining such a model can be challenging but is made easier through the use of graphs, charts and tables in your presentation.
A step by step recollection of the AI adaptations to your criteria model can help to clarify your strategy, boost investor confidence and situate your pitch in a position of control and authority.
Let your audience realise that your strategy is well-thought-out and resilient to the perils that come with inept data. Invite your audience to ask meaningful questions - rather than attempts to find plot holes in your pitch.
Obviously you’re going to have nothing but goodness to say about your product, project or concept in your pitch. Back this up by using AI social listening and sentiment analysis. Most frequently used to target campaigns, social listening can be a useful tool to extend the sentiment of a brand or product to a wider audience.
Artificial Intelligence enables businesses to perform sentiment analysis on social conversation to understand the prevailing attitude towards their business. If it’s negative, step in and mend it. If its broadly positive and depicts broad anticipation for your next product launch or business venture, be sure to relay this to your audience during your pitch to boost confidence.
Real-time access to audience data and trends enables companies to do far more than just listening in- they’re now opening up the conversation. If popular discourse allows, including live social media feeds in your presentation can be an excellent way to demonstrate to your audience the active buzz around your project.
Modernise the ancient economic principles of supply and demand when it comes to pricing your product using AI product pricing. Prices can be determined and optimised at a whole new level of precision whilst taking into account mass data. A number of AI-powered dynamic pricing solutions are available today to enable companies to do dynamic pricing such as Pace, PerfectPrice and Wise Athena.
Discussing and presenting dynamic pricing in your pitch will give your audience an accurate and transparent idea of the financial implications of your project. Artificial intelligence can analyse consumer data patterns and predicts what they’ll likely be willing to pay and their responsiveness to offers and special pricing. It’s an effective tool that allows businesses to calculate the precise discount needed to make sales.
(Global AI revenues expected to reach $3 trillion by 2024. Image Source: Statista)
Making this information visual for your audience to see is key to illustrating your efficiency and precision when it comes to finance. Visualising big data through graphs and charts allows for an immediate appreciation of the subject matter and saves time explaining the figures, giving you more time to focus on other presentation elements.