Before launching any product, cause, or service, you need what people in the sales world refer to as an elevator pitch. This is a very short and quick summary of what you product offers, the target market, your value proposition among other things.
An elevator pitch is one of the most essential tools to have in your marketing arsenal. It’s short, straight to the point and often a key factor to landing quick deals. The term itself originated from entrepreneurs who needed to pitch to busy investors quickly to secure funding. The idea behind this is that sales people should be able to deliver a succinct and compelling pitch in the time it takes to ride an elevator up a couple floors – less than a minute.
As a salesperson, you simply can’t predict which interactions will present a new and juicy opportunity. It doesn’t matter if it’s a grocery store or a networking function, new business opportunities are all around us. This is why it’s always important to be ever ready with a thoroughly rehearsed elevator pitch. Veloxy has you covered with 5 key essentials for an effective elevator pitch.
Here are the Top 5…
5 Essentials of an Effective Elevator Pitch
1. Accessible Language
This is hands down the most important element of a good presentation. It doesn’t matter how long or short the pitch is if no one can understand you. Some of the best sales pitches can be understood by anyone, even children. Sure, it might seem easier or even more professional to use technical jargon. However, try to find ways to explain everything in layman terms.
2. Key Information
Once you know how to simplify the language, you need to identify all the basic information that any prospect would want to know. The information should include your business name, what products or services you offer and what problems you solve. Additionally, include your value proposition as well as what makes you stand out from the competition. Once you have their attention, finish up with a simplified version of your business model, plans for the future and of course, a call to action.
This may seem like quite a lot to cover in under a minute, but it’s very possible if you keep it clear and concise. Let’s look at a quick example, “Hi, we’re a marketing agency that helps SMBs communicate better with their customers. We achieve this by providing marketing solutions as well as coaching to improve your in-house comm skills – both in person and social media. We work with our clients using a monthly retainer. Why don’t you stop by and chat with us on how we can help you better connect with your customers?”
3. Clear and Concise
For most entrepreneurs, there’s nothing more painful than having to distill your company into 30 seconds. I mean, there’s so much passion and emotion that you want your prospects to feel and understand. Perhaps you’d even like to tell them all about upcoming projects and other details. Whatever the case, don’t do it!
What you think is a great story could turn from a simple spiel into a lengthy, boring ramble that will derail any hopes of a deal real quick. If the business relationship between you and your prospects will last, you’ll have plenty of time to share all this as you get to know each other better. Likewise, do not overwhelm the client with an abundance of information. Allow them some time to breathe and digest what you’ve already told them.
4. Diversified and Human
These two go hand in hand. While you want to be thoroughly prepared with your elevator pitch, the last thing you want to do is memorize it word for word. There are a few problems that come with delivering a mechanical sounding pitch. For one, think about all the different clients you’ll meet. You’ve got investors, potential business partners, and even customers. All these people have different needs and will want to know about different aspects of your business. A customer won’t care about your overheads or profitability – but investors will want to hear all about it.
Take the time to modify your pitch for each of these people so you’re never caught off guard. Be in the moment when delivering your pitch and genuinely engage with the prospect. Do not just automatically blurt out a pre-rehearsed script because the client will notice. What you want is to sound as natural as possible, casual if you will. Just memorize key information, practice your pitch, but be ready to tweak it depending on who you’re talking to.
5. Invitation to Continue the Convo
As the elevator doors open and your 30 seconds to a minute are up, you should be winding up the pitch. Even if you made a convincing pitch, don’t follow the prospect around still trying to talk their heads off. Know when to finish and how to extend an invitation to hopefully continue the conversation later on.
Maybe offer them your card or ask for a follow up call one of these days. If they’re really interested, you might even get a follow up meeting or lunch appointment. You always increase your chances of closing deals when you say what you do, and then do what you say. Besides, you’ll know who’s really interested and who was just faking because they had to take the same elevator with you.
Conclusion on Effective Elevator Pitches
An elevator pitch is hands down the most useful marketing tool for sales people to master. Not only is it the first thing your prospects learn about you, but it allows you to distill your company for busy people. Improve your pitch persuasiveness today by reading up on our blog posts – how to identify and sell to different buyer personas.
Similarly, make sure you have the right tools to help you land the best opportunities. With Veloxy Mobile, sales reps can get updated information on potential business opportunities near them as well as gather information about their prospects. This will go a long way towards knowing how to tailor your elevator pitch to deliver maximum impact in the shortest time possible.
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