How Much Elevator Do You Need?

Most salespeople can talk forever about their product, service, company, features, etc. I suspect some of us believe that if we talk long enough, the prospect will buy to get rid of us! While Sales Concepts is a big advocate of asking more questions and talking less about one’s company, at some point, you do need to speak about what you are selling and your company.

The idea of an elevator pitch has been around for a long time. An elevator pitch is a short version of why a prospect would do business with you and your company. The reference to an elevator emanates from the idea that you get into an elevator with the decision maker of your most sought-after prospect, who asks you what your company does. Therefore, you typically have the same time as a short elevator ride to win a prospect’s attention with your answer.

That’s where problems start. Some of us need the elevator in the world’s tallest building to have enough time to make our pitch. Boiling it down is a lot harder than you think. Brevity alone isn’t enough. Your message must be compelling, focused, and unique. You must find and then state what makes you and your company special from your customer’s perspective. Trotting out platitudes or advertising slogans won’t cut it. Everybody has fair prices, high quality, superior customer service, friendly personnel, vast selection, etc.

Here’s an exercise to get you started. Write a statement about what makes your company unique. Then, cut that in half. Then, cut it in half again. Get it down so you can say it in 15 seconds or less. Think of two floors as representing all the elevator time you have.

Here’s the second part of the exercise. In your message, replace your company’s name with your leading competitor’s name. If this is truly something your competitor can say, then it’s not unique. Work until only you can say what is in your message. Repeat this exercise until you have the unique WHAT and HOW of your business that improves your customer’s business.

Use the following checklist to create a genuinely compelling elevator pitch:

• It must be specific and relevant.
  
• It must be unique and differentiate your company, product, or solution.
  
• It should cover only one thought or concept. It is a statement, not a paragraph.
  
• It must be quantifiable. Statements like “We are the leading supplier of…” do not count.
  
• It must relate to the value derived from a single quantifiable benefit based on your company’s unique features and the service/product it provides.
  
• There must be a definable benefit to the customer. It should answer one of the following questions for the customer: “What’s in it for me?” or “As a customer, why should I care?”
  

Oh, and it’s hard to do this by yourself. Find some colleagues and kick it around. Stay with it a long time past when you think you’ve got it. It takes more than one session, but it is worth it.