What is an elevator pitch and why does every business coach and sales conference speaker tell you that you need one?
Well, an elevator pitch is a necessary marketing tool, it is a short speech or statement outlining what you do, or it describes the product you sell or the service you provide in 30 seconds or less. The name came from the idea that you should be able to engage the listener with your pitch in the time it takes to ride to your floor in an elevator.
I am sure you already know all of that, but why is it so important? And how do you craft an effective one?
It is important because this is your mini sales pitch, it may be your only chance to engage with your potential client/customer, you want it to be so good that they will want more information from you, not run in the other direction. It may be the only attempt to sell yourself, your product, or your service to your prospect. So, it better be good and roll off your tongue without thought, and they will remember you!
Like anything of value, you have to take the time to think about it, write it out, try it out, and revise it.
Key points to keep in mind when developing your pitch:
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This may be your first or only attempt to connect with someone. First impressions are everything.
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Be very clear and precise about your message. You only have 30 seconds or less to get it out, so what is the most important thing about what you want your audience to know.
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It is a must for any networking events you attend. It can open doors if your pitch is well put together, precise, and unique. So “Just do it’’.
Ok, so you know the reasons you need one, how do you start putting one together?
The easiest way to develop your elevator pitch is to review your vision & mission statements and the core values your business was built on. If you can’t recite them off the top of your head, they are probably not meaningful. That is a problem for you, your clients, your team, and your business in general. If you are not living and breathing your core values every day that means that they don’t align with who you are, what you do, and what clients you want to serve. Having a strong business culture is dependent on your core values, and an aligned mission and vision statement that everyone can get behind.
If your business mission, vision, and values are meaningful you can use a version or a combination as your pitch. If they are not meaningful, I would start revising them before you build your pitch. Everything from hiring to marketing should revolve around your values, mission, and vision. Let me give you an example of how we developed the BlueRoots elevator pitch using ours :
Core Values: Knowledge. Honesty. Trust.
Mission Statement: To Keep Family Businesses in the Family
Vision: To successfully navigate the unique reality of working with family and business
Remember we are a Family Business Advising Firm. We use assessment tools and family meetings to open up the lines of communication between Generation 1 and Generation 2 to make sure they are on the same page with the succession plan of the family business. Also to ensure that the family is aware of the estate plan, so on the death of the founder, the family is not surprised, and torn apart and in court for years to come.
Now how do we turn that into a quick pitch?
We have 2 pitches, 1 is our mission statement and the other is the end result of using our services.
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We try and keep family businesses in the family,
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We help solve very expensive people problems.
Depending on who we are talking to we can decide on the fly what line we will use. “Tell me more” is the response we generally get. Isn’t that response you want when someone asks you what you do?
So, the next time someone asks what you do, what are you going to say?
I am a lawyer, I sell life insurance, I build houses? No! Those are generic. Think outside the box, and use your values. Instead of saying you are a home builder, how about we build homes that are good for the environment. Or for a lawyer who specializes in wills and estates – I preserve legacies.
Think about the ideal outcome of using your services, isn’t that what you really do? What is your vision for your client if your product or service is used properly? That is your elevator pitch.
If you have a great pitch, send it to me, I would love to hear it, (or in this case, read it )!
Cheers!
Tammy