Elevator pitches are extremely important for entrepreneurs in any relationship-building interaction. It is exactly what it sounds like; a pitch that is as long as an elevator ride. In other words, a brief, persuasive speech that you can use to spark interest in what your organization does. Think of it as a quick way to create interest in a project, idea, or product. When you give an elevator pitch you have to condense the most important and captivating information into less than a minute. Ready to take the challenge on?
We’re going to share the formula for creating and perfecting your elevator pitch. One that is concise, clear, and gets noticed by the right people. Get ready to learn from the experts who have done it from time and time again to create eWomenNetwork into the globally successful company it is today. Here is a step-by-step guide to crafting the perfect elevator pitch and connecting with your target audiences with confidence.
Identify Your Goal/Mission
Start by thinking about what is your objective within your pitch. Do you have a great new product idea that you want to pitch to an investor? Or do you want a simple and engaging speech to explain what you do for a living?
Write out your ideas and keep them in a list organized by your goal and correlating audience that you would be pitching it to. For example, if your goal is the new product idea that would pair with investors, however, if it was explaining your job, that would be potential partners, team members, etc. That way you’re prepared when the time comes to pitch yourself.
Explain What You Do
Start your pitch off by describing what you and/or your organization does. Focus on the problems that you solve and how you help people. Adding in information or a statistic that emphasizes the value of what you do can be very beneficial, as well.
Ask yourself this question: What do I want others to remember most about me? The answer should excite you. After all, if you’re not excited about what you’re talking about, why would someone else be? Also, remember to keep it short and sweet. You only have a few minutes to get all the information out and you don’t want to overload the person your pitching to with too much information. The goal here is retention.
Example: If you’re creating an elevator pitch that describes what your company does, you could say “My company creates marketing materials for other businesses.” Not very captivating and it doesn’t make you stand out from others in the same industry.
A better pitch would be, “My company creates effective marketing materials for other businesses to increase brand awareness and generate 6-figure revenue. This results in a big increase in conversions for an organization's sales.” That’s more interesting and shows the value that you provide to others.
Define What Sets You Apart
Your elevator pitch must contain your unique selling proposition, also known as a USP. Make sure you make it clear as to what sets your brand and business apart from every other competitor. It’s the defining factor as to what makes your brand the better choice to do business with and why your target audience should choose to invest in you instead of your competitors. When creating your USP, think of the following:
What do you offer that your competitors don’t?
What can you/ your product/ your brand do that has never been done before?
How does your current target market feel about you/ your product/ your brand?
What do you do better than your competitors?
Create Engaging Questions
Of course, your pitch is all about you and what you’re offering, but remember that a conversation is a two-way street. And when you get the other person engaged, you are creating a connection. After you communicate your USP, prepare open-ended questions. A good example of a question to ask after you’ve given your elevator pitch is asking, “What do you think about partnering with my organization?”
Also, be sure that you are able to answer any questions that they may have for you.
Put It All Together
Once you’ve established an idea of what each part of your elevator pitch will entail, you should then start putting the pieces together. Read it aloud and use a timer to ensure that it is no longer than 45-60 seconds. Otherwise, you might lose the person’s interest. Cut out any unnecessary information because the shorter, the better!
Examples of Great Elevator Pitches
“I’m a public relations specialist for nonprofits. I represent organizations in public settings and help create opportunities to spread awareness of their brand in the most positive light.”
“I am a motivational coach for small businesses who want to gain a growth mindset to unlock their true potential. I provide guidance on their path to positive mental health and success, so they can be the best versions of themselves for their business.”
“I am a boutique owner providing eco-friendly apparel for millennial women who want to preserve the world’s resources. I help source ethical options that make customers feel good about what they’re wearing and purchasing.”
The key to perfecting an elevator pitch is to understand your target audience’s needs so you can effectively communicate how you can aid in solving their problems.