The Elevator Speech: Most people have the wrong idea about your elevator pitch!
It should be based on a social conversation rather than trying to sell something! It has to be a conversational process and very succinct and short!
There are three fundamental parts of an elevator pitch:
1. The Benefit
2. The Differentiator
3. The Ask
This is NOT WHAT YOU ARE SELLING! It is what you are SELLING MEANS TO THE PEOPLE WHO ARE USING IT! It should reverberate like: “People buy this because it helps them….” It should NEVER be about you or your company but about the VALUE PROPOSITION that you provide to the CUSTOMER (People using it)
This is what makes you totally different about you from the others that are providing the same thing! You have to make the point that you are the MOST IMPORTANT person to buy this solution from! Why you have a truly UNFAIR advantage from the other “me too” crowd!
This is actually the EASIEST part of closing the elevator pitch (a great one of course!) If the listener (and you should hone it to the ideal customer listening to you –that’s another teaching module-) is interested in the conversation (your elevator pitch) simply ask them what is the best way to get on their calendar for a deeper one on one presentation? Then the most important part comes in: as soon as you have an appointment set up you want to move on immediately. That’s because you do not want to reduce the likelihood of the listener to strike a deal with you!
Imagine you’re in an elevator with someone and they ask what you do. You have thirty seconds to provide a captivating answer; what would you say? You should have this pitch planned in advance in several different versions—you may meet a lead for your business or even a great referral source. Someone you’re looking to sell to should hear a different pitch than someone you’re looking to recruit.
Crafting an elevator speech is highly important. Introducing your company quickly and compellingly can make or a break a business opportunity. It can seem overwhelming to concisely state what your company does—there is so much to cover, where to begin! Well, if you pause for too long, it seems like you don’t understand what it does. If you can’t comprehend, how can anyone else? It’s essential that any individual be prepared to explain why and how their organization kicks butt in about thirty seconds.
Highlight what’s special, and emphasize on the Benefit you provide!
There is an overabundance of organizations that exist in the world. Most likely, your company falls under the same umbrella as many others, trust me it is the truth! So why should anyone listen to some monologue about how great your company is when there are plenty of others to choose from? Because your company is the best, or at least it should seem that way to whoever is listening. Clearly point out what allows your team and your solution to be different. Show that your differences make you excel ahead of any other company in your respective industry. Demonstrate that you, yourself, are also ahead of the game. While you may share a similar job description as plenty of others, clarify why you deliver better results than anyone else.
Make the listener care. Make sure you strike the key note on why your solution is different!
Thirty seconds isn’t enough time to fully describe who you and your company are, and that’s just fine. You should share just the right amount of information that peaks the listeners interest enough to want more and to meet you a second time. Make sure to have energy—your elevator speech won’t be returned with enthusiasm unless you express your passion in it the first place. Speak with conviction without bragging; make your listener believe that you can make them as confident and proud as you are. Once you’re finished with your differentiator, don’t push. Never come off as desperate, needy or the business is lost then and there. However, do include a call to action in order to keep the conversation going and alive. (That is the next step…)
Leave them wanting more. At the right time, strike your “Ask”. You need to close the loop!
Relating to the listener in your opening line is crucial. If you don’t hook them immediately, they might not waste their time hearing you out. Asking what your listener does for work first will help tailor the pitch to different types of people. This is extremely important t and we teach this process under our Sales Empowerment Module called ICP, your Ideal Customer Profile or Persona! You want to make sure that whomever you are pitch is your ideal target.
Naturally, your listener wants to know what’s in it for them. Address a problem and create a real solution out of the benefits offered by your company (The Benefit and Differentiator sections above) . To hold undivided attention, it’s important to limit showing off your company too much and discuss how you can actually help the listener. They don’t want to hear about a plethora of your company’s successes unless those achievements can bring success to their company too.
Want to create the perfect presentation collateral such as your tag line, elevator pitch, your pitch deck, your executive summary, you short video and all the other tools to “differentiate” you from the crowd? Get in touch with us.
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