Why every business needs an Elevator Speech (sometimes called an Elevator Pitch)

This often-overlooked marketing tool should be in every business-person's armoury. It's simple to put together, easy to deliver and powerfully effective.

So, what is an 'Elevator Speech'?

Let's imagine you have a meeting arranged at a potential new client’s premises. You have prepared well for the meeting and know exactly what to say to their Purchasing Director to convince him to use your product or service.

As you get into the elevator to go to the 4th floor, the company Chairman steps in, turns to you and asks you why you are there…

You recognise this as a golden opportunity to ‘sell’ the Chairman on the benefits of doing business with your company. But you have only 30 seconds to deliver your message. That’s when the elevator speech comes into its own.

Your Elevator Speech should always concentrate on how you can solve a specific problem which you know they have.

Here’s how it works:

First, think about an industry failing, or something which you know your competitors do wrong, and express it as follows:

“You know how… (most IT consultants charge you hourly fees)”

Then express that failing in cost or downside terms for your potential customer:

“And that means… (when something goes wrong you never know how much it will cost to get it fixed)”

Then tell the listener what you do differently:

“Well, what we do is… (work with our clients on a low fixed monthly fee basis)”

Then express the benefit of that to your client:

“So you… (always know exactly what your costs are going to be – and there are never any nasty surprises.”

If you have time, you can also throw in another offer if you feel it might clinch the deal:

“What’s more, for new clients we offer a 20% discount for the first 3 months.”

The Elevator Pitch or Speech is a vital piece of your marketing armoury. Properly developed and perfected it can provide a consistent basis for your marketing message.

What's more, it is very useful for every member of your staff to learn your Elevator Speech, so when they meet anyone connected with your business - either in person or on the phone - and are asked "So what does your company do?", they have the perfect reply!

For help in creating your own Elevator Speech, simply send an email to me marked ‘Elevator Speech’.

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