If you’re looking to land new business, it’s essential to have an elevator speech. This 30-second pitch allows you to explain to the target customer what that customer needs, the one key benefit that separates you and your competitor in the market, and why your unique business is exactly what your target customer is looking for. This short overview of your business, products, and services are one of the most powerful tools for business owners.
You just read that the key investor in your field is eager to invest in companies like yours… and he just got in an elevator with you. He asks you, “What do you do?” but he’s getting off at the 10th floor. What will you say?
A strong elevator speech is everything in today’s economy where 30 seconds can make a difference when it comes to building both your personal and professional brands. If you can’t articulate what makes you or your organization unique, your brand will suffer. Essential elements of a powerful elevator speech include being concise, using clear language, choosing powerful words, painting a visual, telling a story, and creating a hook.
To craft a strong business elevator speech you must identify your goal (to gain new business), target your audience, list what you do, and illustrate you and your company’s values.
- List what you do: Identify what it is you do that your customers truly appreciate demand, and are willing to pay top dollar for? (i.e. what did they endorse or recommend your business on LinkedIn for?)
- Illustrate your company’s value: SIR. The business speech to obtain clients or investors is through the use of Situation, Impact, and Resolution. Situation: cite the dilemma, pain, difficulties, or complications the prospect faces. Impact: quantify the impact that the situation is having on the bottom line. Resolution: How does your company solve the problem?
Example of a business speech our agency uses to obtain public relations clients or investors:
- Situation/Impact: Are your looking for a cost-effective way to promote your business and establish your credibility as a thought leader in your field in local, national, and worldwide well-respected print, TV, and radio media outlets such as the NY Times, Wall Street Journal, CNN, FOX, NPR, and online through social media outlets?
- Resolution: Our coverage for you through our long term media contacts in important publications or on TV or radio increases your company’s name recognition and credibility, attracts new clients, drives sales, provides social media content and makes people understand why it is worth paying your price for your product or services.
Example of an elevator speech we’ve used to bring in new business:
“I heard you mention you just started an all-in-one accounting firm for entrepreneurs and small businesses. If you’re looking for a cost-effective way to promote your business and establish your credibility as a thought leader in your field in print, radio, TV and through social media content, I can help you. I have a similar client that started his business in January 2006 without any clients and is now the fastest growing CPA firm in Connecticut with over 300 new clients obtained in its first 16 months of business. This firm came us looking to further its media recognition, to reach consumers, and to build confidence in the uniqueness of its brand and comprehensive services. Would you be interested in hearing more?”
Now find out if you’re elevator-ready! Use the fill in the blank below to start creating your very own elevator speech so you can be ready for any opportunity.
Fill in the Blank Template:
|“I heard you mention you _____________ (State the situation that your prospect is facing).
If you’re looking for __________________
(What can your company bring to the table…how can you help them?)
(State a possible solution to the situation,)
I can help you. We have ______________ (USP Resolution: example of how you helped a client or investor with a similar situation.)
Here’s my business card. If you’d like to chat or if you’d like me to take you to lunch sometime, feel free to contact me.”
Ron and Jennifer are a husband and wife team who own MMC, a PR agency that combines the best of traditional PR with an online PR approach. They talk fast, and together wear many hats: PR strategist, professor, lawyer, writer, speaker, trainer, parent, and marathoner(s). Go ahead. Try and keep up with them if you can. www.magasmedia.com