Communicating who you are: The Elevator Pitch

Tuesday 28 April, 2015 | By: Default Admin | Tags: sales, business development

How do you communicate your brand so it actually means something to someone? What is an "Elevator Pitch"?

An "Elevator Pitch" is a concise, carefully planned, and well-practiced description about your company and its value proposition that your mother should be able to understand in the time it would take to ride up an elevator.

Today, all businesses offer an extensive portfolio of products/services/solutions to an ever changing and diverse range of opportunities in the marketplace.

From a selling perspective, like numerous other businesses, the products, services or solutions you offer are sometimes limited, from the customer’s perspective, in their differentiation. When opening up a conversation with a new prospect, many people are initially asking themselves …. “so, what’s in it for me?”.

That is why businesses today design a short, punchy and succinct series of words that stimulate interest from the prospect for them to say … “hmm … tell me a little more about that”. It’s called an Elevator Pitch … it should ideally be no longer than 20–30 seconds, but is only delivered on a case by case basis.

What an "Elevator Pitch" is not:
It is not a "sales pitch." Don't get caught up in attempting to tell the prospect how great your product or service is. The prospect is initially "buying" the business and the potential problems you may be able to solve … they are actually attempting to reduce personal risk. We need to tell them “WIIFM” … what’s in it for me!

When structuring an Elevator Pitch, it MUST:

  • Define who you are
  • Describe what you do
  • Explain what’s unique and different about you
  • End with an exploration question – e.g. “would you be open to hearing a little more about how we go about achieving this for our customers”?

To give you ‘a feel’, below is an example of an accountant pitching to a new client opportunity:

Client: “So what makes you different to the other accounting firms I am going to speak to?"

Accountant: "Since you have asked me and at the risk of sounding self-centred Mr. Prospect, the facts are that we are the best accounting practice in town … to be blunt, that’s the very reason why I chose to work for them. Our accounting firm has set a new benchmark across all the sectors we work within by balancing our clients’ books in approximately ½ of the time of our competitors. If you examine our records, you will notice that we are virtually error-free.

Furthermore, we have introduced ideas to our clients that have saved them thousands of dollars. We have outstanding references from businesses such as ABC & XYZ, all of whom would testify to what I am claiming. And Mr. Prospect can I add … there’s an obvious reason why, that in six years, we have not lost a single client. Would you be interested in hearing a little more about what we may be able to achieve for you?”

Another example of an Elevator Pitch used by a project home-builder:

“We are a well organised, structured and committed building company whose sole focus is not just to build a home but THE home for our clients.

It’s fair to say that we are not all things to all people however we do know that the clients who are attracted to us are those who are seeking a transparent & ‘no fuss’ experience.”

Conclusion

So define who you are and describe what you do, make sure you mention your Unique Selling Proposition (USP) and then ask a question – and you’ll be on the way to a winning elevator pitch that has people asking more…

 

Salesmasters International is a leading Sales Training company in Australia. To identify if we can help to evolve your sales process and sales team by aligning your business with these 8 critical key modules then simply connect with us for a complimentary 30 minute telephone consult. At the end of this call we will both be able to identify if we are a mutual fit to move forwards with a sales training program customised to your selling business.

1300 950 073 www.salesmasters.com.au

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