THE ELEVATOR PITCH!
You would think everyone had sussed this out by now but that’s simply not the case.
How would you sum up your business to a person standing next to you in the lift
In the time it takes to you to get to the top?
Let’s say 60 seconds maximum for argument’s sake, so we are not inundated with “What if it’s full of chattering people or, it’s only 1 floor at TK Max in MK, or the Burj Khalifa……?
What’s needed is your most persuasive, interesting and memorable attempt to relax your lift colleague
and get them enthused!
REMEMBER – It’s not your soapbox. The aim is to encourage a two-way conversation and to get that person to be interested enough to ask for more!
So in reality – 10 seconds would be much more appropriate.
It’s a great idea to write out your pitch and then cross out all the superfluous words that add nothing!
Get to the point.
There are plenty of references out there but it doesn’t write your pitch.
What it does is give you tips that will ensure your content is well structured and well thought through.
My favourite is WOW | HOW | NOW
Intrigue, puzzle, challenge.
What you say provokes a WTF reaction or a need for clarification and to want more. So for rtfacts i’d say:
‘I am a design ninja’
Answer and explain
‘We understand your business and your competitors,
We use this knowledge to gain advantage,
We produce killer creatives and win the design warfare battle’
give a real example and tell a story
That really would be telling, wouldn’t it.
If an elevator pitch is next on your list let’s talk?
My Least favourite is
Situation | Impact | Resolution
Situation – Talk about a pain your customer experiences (great, I’m warming to this convo already! N O T )
Impact – Explain how this pain negatively impacts their business (Fab, Ive met you in a lift and you’re telling me how to run my business!)
Resolution – How do you solve these pains – talking benefits here is your big ending. (Good luck, I already hate out lift journey!)
I’ve always hated the fear and worry style, but it’s an effective option for some.
If you can make it work this is my absolute favourite:
1. Start with something you expect to hear in a conversation: humor, a story, referring to recent news.
Choose something that highlights a problem your business can help customers solve.
2. Summarise the RESULTS you achieve for customers. It should be an emotional benefit, not a hard-headed business benefit.
3. Quantify your success. Now you add the proof of your benefit statement, using numbers if possible.
Clear? Well here’s a bit more to fuddle your muddle:
We’ve discussed the Elevator pitch and I found this excerpt on the web that was a good summary:
Elevator pitch. Often a short “best of” presentation that takes the best of your value proposition and combines it with the best of your positioning statement. But above all, it is crafted for your target audience.
Your elevator pitch can change for every person you present it to. OR NOT!
Value proposition. This is simply the value you bring to your customer or client. It’s the solution you’re providing to the problem your customer is experiencing or the way your product or service increases profits or saves money. Ask yourself how is your customer better off after having purchased your product or service. If it’s unclear to you how you improve the world for your customers, it will be even more unclear to your prospects.
Positioning statement. Unless you’re Thomas Edison, there’s a good chance that others are providing a similar if not same – product or service. Your positioning statement should define your place in the market. For example, both Wicks and Tesco sell hammers, yet they have different strengths that they use to appeal to their customers. They are positioned differently within the market for hammers.
You need to understand your competition and what niche you’ll occupy within the market for your product or service. If you can’t do that, you won’t know which customers to target, where to advertise, how to price your product, what level of support you need to provide.
It’s a lot to digest. I’m off for a cuppa but please support the effort by following the link and subscribing: Let’s Talk!