An Elevator Pitch

Obsolete, Old School Marketing or a Modern Necessity

Even today in our “modern”, technology focused world, having an elevator pitch is important. It doesn’t matter what type of business you’re in, an effective elevator pitch can lead to new sales opportunities. Most businesses, if asked claim to use an elevator, yet few actually make the transition from pitch to profit. Let’s examine a few elevator principles.

An elevator pitch is that short, intriguing sound bite that is intended to peak interest and stimulate conversation. No more, no less.

Recently, I was discussing this very concept with a friend. I asked, “What’s your pitch?” He rambled, “By codifying proprietary technologies, we deliver a superior enterprise application to an under-leveraged vertical market.” I thought he was going to pass out before he got to the end.

We wonder why it’s not obvious to all humanity that our product, service or company is the latest and greatest. This is usually because marketers have a supply-side mentality. We focus on features, while those on the demand side of the equation just want to know “what’s in it for me?”

Put the customer’s hat on and use some “elevator etiquette”
First, if you have to take a breath midstream, your spiel is too long. Bill Joos, a Principal at Go To Market Consulting and a former VP of Business Development for Garage.com (a successful venture-capital firm) once noted that, “Brevity brings the best results

He’s absolutely right! If you can’t hook them in 10 seconds, a wordy dissertation won’t magically win friends and influence people. When you think of it, most areas in the county don’t have many high-rises. Assume you have three or four floors instead of 30 to get your point across.

Open with an attention-getter designed to draw a question
My personal prologue is: “I help companies increase their sales velocity.” The typical response is: “How do you do that?”

They’ve just given me permission to go into more detail. When I lead with, “I’m a marketer,” they fight to get off the elevator.

Next, lose the techno babble! Use simple and clear language that communicates how you increase your customers’ advantage or reduce their risk. Most people buy on emotion rather than logic — make sure your intro has an emotional appeal. Said another way, sell the sizzle instead of the steak.

Along that line, what you say is important — but how you say it is imperative. If you don’t have passion about your selling proposition, prospective customers will find someone else who does. Finally, incorporate a call to action.

Zig Ziglar gained notoriety in the ’70s by concluding a “benefit statement” with a closing question. That’s how you should wrap up your elevator pitch — with a question. Ask to exchange business cards so you can follow up. Keep in mind that an elevator pitch is not designed to sell, only to set up a selling situation.

A great pitch doesn’t just happen; it takes preparation and practice. Use these elevator principles and your prospects won’t go running for the stairwell.