Like many other marketing techniques that have been around for a while, the elevator pitch idea has become stale. By stale I mean that prospects are aware of these phrases and are tired of the obvious usage.
Stating “Value-Add” was effective but is now cliche
Asking, “Please tell me about your business,” worked but is now irritating
Cold calling in person used to work but is now stupid
I’ve heard sales people say, “But we’re a Value Add company,” as if just using those two words makes a poorly delineated presentation of customer benefits magically acceptable.
However, if you truly present the value you add to your products, your prospects will be delighted – just never again say, “Value Add.”
The theory is that an Elevator Pitch IS supposed to be all about you, and not about your prospects. However, which is more important, talking all about yourself or gaining the favorable attention and interest of your listeners?
In researching published techniques for this article I’ve read more than one format for elevator pitches. They almost universally start something like:
• Your name
• Your title
• Your company
• What your company does
Then they list a variety of other info for you to give. I’ve seen examples where you’re supposed to also tell people who your competition is – I say let my competitors show up if they want their names in front of this person or group.
In several examples the last thing they tell you to do is give your Unique Selling Point or Value Proposition. That should be as close to the start as possible. It’s truly all any prospect is interested in.
Relevance Marketing Principles Applied to the Elevator Pitch
Elevator pitches are used in two ways: a) in one-on-one or one-with-a-few situations in cocktail parties or networking gatherings, and b) as a way to introduce yourself in a crowd such as a seminar, business group luncheon, etc.
Both can be virtually the same pitch, but in a group you cannot apply to your pitch what you’ve heard from the individual(s) you’re talking to. With one or a few others, try to get them to go first, and pay attention to what they say; don’t plan what you’ll say while they talk. If you do need a moment, ask them a less important question that might be easier to follow while planning what you’ll say.
When giving your elevator pitch to a group, think ahead of time about what the members of the group have in common, and pitch to those commonalities.
Remember, in one definition Relevance Marketing is marketing prospects can identify with. To give a Relevant Elevator Pitch you need to not so much talk about them, but set up a scenario where they can identify – where they can say, ”I’ve thought or felt that,” or they might say, “I’ve been in that situation,” or perhaps they might think, “I know someone dealing with that problem.”
Three Suggested Elevator Pitch Techniques
I usually reject the “Start All About Myself” approach. I’ll give my name if it’s the large group scenario – usually you’ve already introduced yourselves in one-on-one or one-with-a-few. In this small number situation the opportunity usually goes something like this, “So tell me about yourself.” It’s best if you ask this question first as I’ve stated.
The “Do-You-Know-How/Wouldn’t-It-Be-Great-If” Approach
Prepare for your pitch in this way:
1) Always start with a major way you can really help your viable prospects.
2) Then identify how someone suffers without your product/service.
3) Next, figure out the wording that let’s those listening understand the problem as succinctly as you can.
4) Finally describe the solution you provide in a conversational manner as if you’ve just thought about it.
“Do you know how a lot of businesses on the edge between small and medium sized have a hard time providing benefits to its employees without costing an arm and a leg in support staff expenses? Wouldn’t it be great if there was a way to take care of this that cost those companies less than doing it themselves?
“Well, that’s what my company does…”
You then need to succinctly tell how you do whatever you do – SUCCINCTLY being the most important word to remember when delivering any elevator pitch. I’ve seen any number of group scenario elevator pitch situations where the first few to stand give their pitch in 30-40 seconds, but each following pitch takes longer and longer, until the last one takes 3-4 minutes. Remember, an elevator pitch should be roughly 30 seconds.
Granted, my suggested scenarios take more than 7 seconds up to this point, but if you drone on about yourself and your title and your company and what your company does… you’ll probably see the “glazed eyes look” in that time.
The “Have You Ever…” or “Do You Ever…” Approach
The preparation first steps are like above: 1) Think about the major way you can really help your viable prospects. 2) Then identify how someone suffers without your product/service. 3) Next, figure out the wording that let’s those listening understand the problem as succinctly as possible.
However, then 4) Create two to four “Have You Ever…” or “Do You Ever…” questions highlighting their problems. I like this technique when giving my pitch in groups:
“Have you ever wondered if anyone reads your brochures? Do you ever leave a number of voice mails and few if any ever returns them? Do you ever receive a decent response from your sales letters? Are you disappointed in the low number of visitors to your website?
“Well, if you have, we need to talk. I’ve found the key to solve this is…”
The “Let Me Tell You About My Friend…” Approach
“Let me tell you about my friend, Mary. She’s a client of mine. She runs a business about the size of yours, and she was pulling her hair out over the cost of supporting her company’s computers. She’s good with them herself, and did her own IT work when there were just four in her company, but now there are eleven of them, and she can’t grow her business and keep her people productive. She figured she was only to the point where she could justify a half of an IT support person, and they don’t exist.
“Well, my company was able to…”
In all of these approaches, you create a way for those listening to identify with what you can do for them or their businesses, or for someone they know. So what if you don’t tell them all about your company or all about yourself.
If talking all about yourself is what you’re there for, forget what I’ve said and brag away.
Just don’t expect the people you talk to, to return your calls or agree to meet with you – unless they want to sell you something and will use the appointment you set to turn the tables on you. No offense meant, but the practice of making an appointment to listen to someone else’s sales presentation and then pitch your own, is a common ploy for some people in insurance and in multi-level network marketing.
Relevance Marketing helps you capture your prospects’ favorable attention and interest in all sorts of situations – including the elevator pitch. You just have to think about what you’re doing and apply the principles.
