Steps to Create an Elevator Pitch
An elevator pitch is a brief summary used to spark interest in a company’s products and services. The term elevator pitch relates to being able to share with someone what your company does in the time it takes to ride in an elevator. Often used by sales and marketing teams, elevator pitches should be no more than a short elevator ride of 30 seconds. In this article, we share 5 components in an effective elevator pitch capable of being shared within 30 seconds.
The HEART of an Elevator Pitch
The first step to creating an elevator pitch is identifying the Hurdle or the challenge or problem the company’s customers face. The challenge you could be faced with could be getting more customers or getting new loyal customers, depending on your organization. An example of a hurdle used in an elevator pitch would be “For companies challenged with attracting the right customers.”
The Evidence would be the explanation of what they are getting. This evidence might include “…instead of tire kickers negotiating every purchase.” In other words, people who are always shopping by price may not be your best customers. If most of your conversation with your customers is about price, this is evidence of the hurdle.
The third step is the Answer to what you provide. Your answer should fully explain what you do, have, or provide in a short, brief amount of time. The example for this would be “we provide marketing services to help companies reach their ideal customers willing to spend money.”
The Result is how the business will be effected with what they have received. The result is the effect of the answer given. For example, “so that the business grows with profitable loyal clients.”
The fifth and final step is just an example or Testimonial of proof your company has helped others with these challenges. The ideal elevator pitch would include a testimonial from a customer. The testimonial is the statement testifying the result preferably (but not necessarily) in the words of another customer with a similar hurdle.
Sample Social180 Elevator Pitch
For companies challenged with attracting the right customers instead of tire kickers negotiating every purchase, we provide marketing services to help companies reach their ideal customers willing to spend money so that the business grows with profitable loyal clients. For instance, one of our clients recently provided an online review stating “The results speak for themselves. We could not be more pleased. They think outside the box and different than the other companies we have worked with before. True visionaries!”
While this is one of our longer elevator pitches, the important area often overlooked is the beginning (the Hurdle and Evidence specifically). As companies begin understanding these first two areas, the rest of the elevator pitch begins to flow. For help with your elevator pitch, call Social180 at 469-420-0180.