What is an elevator pitch?
Sales work often starts from the first impression. In most encounters, you only have 30 seconds to show, a few minutes to impress, and a day to respond. My advice is to prepare an impressive elevator pitch.
An elevator pitch is the most minimalist interpretation of the products or services that a company or individual offers. The term “elevator pitch” comes from the reality that you may only have an elevator ride to the next floor to introduce yourself and your ideas and to make an impact on investors or prospects. The elevator pitch is the heart of all of your messaging and conversations about your brand.
Why is an elevator pitch important?
We must understand that we are always selling. When you go for a job, you are selling intellect, labor, and your personal brand. When you go for a proposal, you are selling your services and what makes your brand stand out. When you’re flirting with someone, you are selling what you can offer him/her. To a certain extent, we are all multi-level marketers, and the sales process begins and ends very quickly. An elevator pitch is important because it communicates the most important aspects your business and services within that short amount of time.
First, you have to decide what exactly you want to communicate about yourself or your business. For a simple start, answer the following questions:
- What are your products/services?
- Who is your target market?
- How do you project the revenues?
- Who is behind this product?
- Who are your competitors?
- How do you differentiate your product/service?
From here, we have simplified the “elevator pitch” to a formula almost anyone can use:
“You know how (insert problem)? I (insert solution). This helps to (insert benefit).”
For example, this is one way to simplify an effective elevator pitch for a marketing professional:
“You know how small business owners have trouble communicating and selling what they do and figuring out how to grow their business and revenues? With 10 years of experience, I teach these business owners specific ways to market their product extensively and effectively. This helps them reach their expansion and sales goals.”
This pitch is interesting because it streamlines and answers the question “What do I do?” while providing critical content on “how I can help”. Despite its short length, an effective pitch requires hours to mull, refine, and practice in front of the mirror. The more practice you put into it, the more confident you’ll be, and confidence is key to gaining the trust of future investors, prospects or employers.
Elevator pitches are important, but you should always be prepared to go deeper into detail if the opportunity arises.