A short video tutorial on crafting your elevator speech:
Grow Your Business Using Your Elevator Speech
There are times when it just so happens that, for just a few moments, you have a prospective client’s attention – at a social gathering, at a business club meeting, at a trade exhibition; or … even, in the elevator!
But those few moments can be truly important. If you say the right words you might start a long and productive relationship that will grow your business.
Say the wrong thing and your prospect’s eyes glaze over – and you may never get a second chance to impress them.
This idea of having thought out in advance just what to say that will grab attention is called the ‘elevator speech’ – you’re in an elevator; you want to make a pitch to someone; what do you say in the sixteen seconds before the doors open again, so that the other person will say ‘Give me a call,’ or pause to give you their business card?
What Is An Elevator Speech?
An elevator speech is a clear, succinct statement about your business that will make the other person interested enough to continue contact there and then or do a follow up at some other time.
An elevator speech is a short statement of who you are, what you do, and how your goods or services can offer value to customers or clients.
Elevator Speeches Aren’t A Sales Pitch
When you make an elevator speech, the point is not to ask your prospect if they would like to do business with you. If you make a direct sales pitch, they can end the conversation, and your business relationship, immediately.
You can’t win a new client in 15 seconds. So don’t try. If you pitch too early, you’re going to look like someone who proposes on a first date – and that’s never been a recommended tactic!
Sell A Solution
The key to producing a good elevator speech is to remember a basic marketing principle: don’t sell the product, sell the benefit to the customer.
So, the thrust of your elevator speech is not so much about who you are, as about what you can do for other people.
Break The Message Into Parts
When you come to write your elevator speech, it will probably help if you break it into two parts. The first part can describe what you do, and the second part can describe the benefits you offer clients.
For example, ‘I run an agency (What I Do) that helps companies recruit top-class professionals (Benefit).’
Or,
‘I run a financial planning consultancy (What I Do) that helps businesses get the best possible return on their investments (Benefit).’
Or,
‘I customise IT systems (What I Do) to improve productivity and customer service (Benefit).’
Information In An Elevator Speech
A good elevator speech will typically contain this information:
- What your product or service is,
- What your market is and who your customers are,
- How your product or service benefits customers, and
- Your competitive advantage.
Using The Elevator Speech
Once you settle on your elevator speech, you will find it useful in a range of circumstances:
- When you meet new people in a business context, say your elevator speech when you introduce yourself.
- When you leave a message on someone’s voice mail. It will give context to the call and be more memorable than a simple return phone number.
- Put the speech on your outgoing voice mail messages. That way, every time someone calls you, you have an opportunity to promote yourself.
- Add a key phrase from your elevator speech to your business card, office stationery and resume. This phrase needs to be just slogan length.
- Add your elevator speech to your electronic communications, making it part of your emails or using it as a kind of banner on your website.
- Consistency of message is essential to good marketing, so use the elevator speech on your marketing materials. It can go on all your brochures and fliers.
The Elevator Speech At Networking Events
You need to use a somewhat different approach if you are at a networking event, such as a business breakfast, lunch, or conference.
When you cold call, you need to state your reason for calling reasonably quickly. But at a networking event it’s generally better to encourage other people to speak first. Then you get an idea of what kind of business they are in and what their needs might be.
This means you can customise your elevator speech. Although you might have one basic elevator speech, it won’t hurt to have a number of add-on phrases or sentences that would give more information, depending on who your potential client is.
You may also like to have a longer version of the speech for events where you are sure that people are already interested in what you do and actually want information.
Once again, the purpose of the speech is not to make a sale on the spot. It’s to start a possible relationship, get the other person interested enough to want to exchange business cards and take a follow-up phone call from you.
Conclusion
Your elevator speech is a powerful marketing tool.
It helps you establish sound business relationships.
And it can even work in your absence, as people will repeat your speech when asked what you do. It provides a great word-of-mouth marketing strategy.
And the effort you put into developing the speech will help you add punchy, attention-grabbing introductions to your other marketing efforts.
Work on developing a brief, powerful way of introducing yourself and you’ve taken the first step in establishing an impressive business identity.
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