Ahhh… the elevator pitch. That brief summary of your business that you can give to someone in the time it takes to ride an elevator. Used in business pitches, funding rounds, sales calls and even just to impress friends and family, the “pitch” you use to describe just what your business does is crucial.
Why? 1. First impressions count. 2. We have short attention spans. 3. We’re selfish and only care about things that affect us. If your elevator pitch doesn’t get the attention of your audience and explain things simply and quickly, it’s failed.
Your business probably already has an elevator pitch of some kind but if you’re reading this, you know it needs some work. Don’t worry. This article will walk you through how to create an elevator pitch that’s irresistible.
Know your audience
In our intro, we talked about the elevator pitch being used for a host of different groups of people but really there is one important group that you need your pitch to work on – the people who will help you meet your goal. This is most likely to be your target customers and possibly investors too. It may make you feel good to know your nan or your neighbour “gets” what it is that you do, but the elevator pitch is not for them.
Think about who you are trying to pitch to and why they should care about what you’re saying. Knowing your audience is crucial for this. For example, how familiar are they with jargon or industry terms? How much of an explanation will they need? How cynical are they about what you do? What are the key points they are going to be listening out for to decide if you’re for them or not?
Find out what your listeners care about and tailor your approach accordingly; that way they’ll be more likely to listen – and respond favourably.
Be the knight in shining armour
Every product or service ever created was built to solve a problem. Just think of all the phone apps available to help us address issues or challenges. We as consumers base our purchasing decisions on what will support our needs but, as business owners, we often forget that psychology and focus on the solution; not the problem. By doing this, we prevent a crucial connection with our audience.
So, when you create your elevator pitch think about the problem you are solving, and who you are solving it for, then build some drama or jeopardy around it (hence the knight in shining armour reference).
For example, let’s say you sell headphones and your USP is that the case lights up so you can find them in your handbag.
-The problem you’re solving is lost headphones.
-The group you’re solving it for is people who use headphones a lot for travel or a commute.
Possible drama:
-without their headphones the commute is painfully slow as they have no entertainment
-they spend a fortune replacing them when they don’t need to
-they’re unable to relax and switch off from the stresses of the day
This should be the focus when you create your elevator pitch.
How else to create an elevator pitch?
Keep it short and sweet
Another important thing to remember when creating your elevator pitch is that you only have a few seconds to make an impression, so make every word count. Ideally, you want to be able to describe your business in one sentence and no more.
You have a limited time and should be able to get your point across in about the same time it takes for an elevator to go from floor to floor – so no matter how exciting your offering is, don’t try to cram every single detail into that tiny amount of time.
This is not the place for anecdotes or lengthy examples. Make sure all the important bits are there, but leave some things out to whet their appetites for more information.
Practice, practice, practice
Stumbling over words or having to look away while you remember bits shows a lack of confidence. The more you practise, the better you’ll get at delivering an effective elevator pitch. You’ll also find that each time you pitch to someone, it evolves and becomes more fine-tuned.
Creating the perfect elevator pitch is an art form – one that requires dedication to hone and perfect. Only by getting acquainted with your audience and properly preparing for your pitch can you ensure success. I hope this has helped but if you’d like further help in building your buyer personas and your messaging, please do get in touch.
