Knowing how to sale your own company is very important! Â But having a bunch of time to do so is not always available, so you must have a great elevator pitch. Â And that is exactly what this blog by, Robert W. Bly,Â is going to help you achieve! Â So check it out and fine tune your “Elevator Pitch”.
In The Marketing Plan Handbook, author Robert W. Bly explains how you can develop big-picture marketing plans for pennies on the dollar with his 12-step marketing plan. In this edited excerpt, Bly explains how you can quickly create an elevator pitch that grabs people’s attention.
Once youâ€™ve painted a vision for your business –Â so you understand where you’re going and why –Â itâ€™s time to clarify what business youâ€™re in. But what does that really mean? It means defining exactly who you are, what you do for people, your priÂmary product or service, and your businessâ€™s key streams of income. The first thing you need to do in order to clarify what business you’re in is to solidify your elevator pitch.
An elevator pitch is a 30-second answer to the question, â€œWhat do you do?â€ You need an elevator pitch because the question â€œWhat do you do?â€ is one that’s usually asked by complete strangers in casual cirÂcumstances. In these situations, you don’t have a captive audience watching you go through your PowerPoint sales presentation, so your answer must be pithy and to the point.
Why does it matter how you answer the question â€œWhat do you do?â€ when speaking to someone you donâ€™t know? Because you never know when the person youâ€™re speaking to turns out to be a potential customer or referral source.
Most elevator pitches, unfortunately, donâ€™t work because they’re just straightforward descriptions of job functions and titles, generating not much else aside from disinterest and a few yawns. For example, a fellow I met at a party once told me, â€œI’m a certified financial planner with more than 20 yearsâ€™ experience working.â€ OK. But who cares?
My friend, sales trainer Paul Karasik, has an antidote to the deadly dull elevator pitch. Karasikâ€™s three-part formula can enable you to quickly construct the perfect elevator pitch. By â€œperfect,â€ I mean an elevator pitch that concisely communicates the value your product or service offers in a manner that engages, rather than bores, the other person.
What’s the formula? The first part is to ask a question beginning with the words â€œDo you know?â€ The question identifies the pain or need that your product or service addresses. For instance, for a financial planner who works mostly with middle-aged women who are separated, divorced, or widowed, and possibly re-entering the workplace, this question might be â€œDo you know how when women get divorced or re-enter the workforce after many years of depending on a spouse, they’re overwhelmed by all the financial decisions they have to make?â€
The second part of the formula is a statement that begins with the words â€œWhat I doâ€ or â€œWhat we do,â€ followed by a clear description of the products or service you deliver. Continuing with our financial planner, they might say, â€œWhat I do is help women gain control of their finances and achieve their personal financial and investment goals.â€
The third part of the formula presents a big benefit and begins â€œso that.â€ Hereâ€™s what the whole thing sounds like: â€œDo you know how when women get divorced or re-enter the workforce after many years of depending on a spouse, they’re overwhelmed by all the financial decisions they have to make? What we do is help women gain control of their finances and achieve their personal financial and investment goals, so that they can stay in the house they’ve lived in most of their Â lives, have enough income to enjoy a comfortable lifestyle, and be free of money worries.â€
You can construct your own elevator pitch today using Karasikâ€™s three-part formula:
- First part. Ask a question beginning with the words â€œDo you know?â€ that identifies the pain or need that your product or service addresses.
- Second part. Describe your service, beginning with the words â€œWhat I doâ€ or â€œWhat we do.â€
- Third part. Explain why your product or service is valuable by describing the benefits it delivers, beginning with the words â€œso that.â€
That’s it. This simple formula can help you craft a memorable elevator pitch so you’re prepared every time someone asks “So what do you do?”
Robert W. Bly is an independent copywriter and marketingÂ consultant with more than 35 years of experience in B2BÂ and direct response marketing. He has worked withÂ over 100 clients including IBM, AT&T, Embraer Executive Jet, Intuit,Â Boardroom, Grumman and more. He is the author of 85 books andÂ he currently writes regular columns for Target Marketing MagazineÂ and The Direct Response Letter.Â His most recent book,Â The Marketing Plan HandbookÂ (Entrepreneur Press 2015), is available for pre-order at all major bookstores.