An elevator pitch is a short overview of your business, products, or services, and is typically used in business settings such as face-to-face networking. It is meant to convey important information to your listener, and to compel them to take specific next steps.
The term elevator pitch comes from the idea that you should be able to deliver your succinct speech in about the time it takes to ride an elevator. Ideally it should be about 20 – 60 seconds long, when done at a comfortable pace (not like you’re in a high-speed rap battle).
Having a great product to pitch, like Spiro’s sales automation CRM, can also make the process much easier.
A good elevator pitch will tell a story. Share who you are, why you do what you do, and why those things matter. Do this all in a way that is both captivating and concise.
Your pitch should answer these questions:
- What does your company do?
- What problem are you trying to solve?
- What would your listener want to know?
Define Your Audience
For your pitch to be effective, you will need to tailor it to engage your listener. Different people will want to know different information, and it is up to you to figure out what that information is in a pinch. It can be helpful to think about the different ways to shape your pitch for different audiences, so that you will be ready to talk to anyone when the time comes.
Once you have an audience, you’ll want to identify:
- What is this person’s position?
- What can I offer to this person or company?
- What are their interests?
Once you pinpoint these details, you can quickly frame your pitch for your listener. You will also need to decide what language to use with each audience. For example, if someone is outside of your field, you should avoid technical jargon that may be perfectly fine for those more familiar with the subject.
Identify Your Goal
In order to create a great elevator pitch, you need to know why you are making that pitch in the first place. Do you want them to book a demo? Invest in your company? Make sure to keep that action or goal at the front of your mind while crafting your pitch.
Clarify What Sets Your Business Apart
Make sure that you are making clear what sets your business apart from every other business that does what you do. This is known as a unique selling proposition, or USP. A USP is a statement that succinctly outlines how your business, product or service is different from that of your competition. It identifies what makes your business the better choice, and why your target clients should choose you over the competition.
To create your USP, figure out:
- What do you do better than your competitors?
- What things can your product or company do that has never been done before?
- How do your current customers feel about your product or company?
Create a Hook
If you want anyone to listen to your elevator pitch, you need to give them a real reason to do so. This means making it interesting from the very beginning. This can be done by engaging your listener with a rhetorical question, using exciting language, or by bringing up something unexpected. Most importantly, just be yourself and let your personality shine through.
Put it All Together
Once you have an idea of what each of the parts of your elevator pitch look like, you should begin turning them into one coherent whole. Also, make sure to note that having a great elevator pitch doesn’t mean that you are in the clear. You need to be able to answer follow-up questions, and be prepared to elaborate on any details that your listener wants to know more about. And, you need to be calm and collected while delivering it. Practice makes perfect.
I’m sure that by now you are dying to see an example of a great elevator pitch that combines the elements above. Well, here’s mine:
Imagine an intelligent sales platform so smart that when it’s connected with your phone and your email it knows the deals you’re working on, organizes them, and even acts as your sales assistant to remind you to call the right prospects at the right time, helping you close more deals. That’s Spiro.
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