This post is the by product of a discussion on LinkedIn. I give the reference latter in the post for those wishing to read this interesting conversation.
I have to say I totally disagree with all this bashing of “elevator pitches.” Please keep in mind this is my two cents and personal opinion. I respect all that has been stated on this subject though I may not agree.
The basis for bashing is not based in fact, but in a mystic that has been created by hype about how terrible these pitches are.
A true elevator pitch is simply a statement used in prospecting of what someone does. It could be as simple as “I help shoe companies increase their distribution.”
Now I ask you how is that in any way “phony” or “pitching?” Are you telling me that you are not going to reveal what it is you do to the person you’re talking with? Of course you are.
Great elevator pitches are not so simple but use what is known as a “unique selling proposition. (USP)” I feel obligated to define this term as few really know what it means.
A USP is a unique statement of the benefit one can provide. It is a statement with the purpose of engaging the prospect by making them feel they’d be crazy to buy from anyone else regardless of price. It must be free of platitudes and statements of things that the prospect would expect (We fix it right the first time), and it cannot be something your competitor could say. Otherwise it’s not a USP. (For those interested
I highly recommend Richard Hershaw’s book Monopolize Your Marketplace as a reference on this subject and how to create a powerful and compelling description of your business.
Example
I help shoe companies improve their distribution and our benchmarks show that companies that use our program get an average of 15-19 percent increase in distribution over the first two quarters — 8% above any other program tested.
This is a USP and a powerful elevator pitch. What shoe company executive is going to ignore the fact that the average result is 15+% increase and 8% better than the competition? Few! They are going to engage you.
There is nothing pitchy about this statement which is likely to do more for opening a dialog than the so called “meaningful conversations” — which in all discussions such as this are NEVER defined.
I would also disagree that what you say before or after the elevator pitch is more important. If you are giving such a pitch, your are in fact trying to engage the prospect. The best and most powerful way to engage a prospect is to show that you can provide value — NOT say you can provide it — show it. If you are unsuccessful you won’t get to say anymore! What do you think is more important than engaging the prospect?
The statistics above do exactly that. I think the example you gave (See the LnkedIn Question: “Let’s be honest about elevator speeches! for the example I refer to. It is in the clarification to the question in paragraph 3) fails to provide evidence of a benefit beyond your say so. Except for the trademarked name of the product every one of your competitors could use the same statement. I don’t think that statement differentiates you from anyone else. The statement above certainly does.
Besides your name and hello this would be the first thing out of your mouth and the basis for any continued conversation or a return call if left as a message.
We don’t need to move from pitching people, we need to move from doing it badly!!
I would obviously agree that having a referral is an advantage. But only if the referral has talked to the prospect about me. Otherwise it won’t carry much weight until you establish value. And even in that case all that I have suggested is still valid.
I would add as a footnote this is one of the biggest problems in selling. People are not skilled. Most sales people have never pursued the definition and study of USPs, or studied communication skills, or even read the major works on selling.
It is not the selling or sales theory that is bad — its the lack of real skills by the users.
I think the issue is not that this isn’t a good sales pitch. It’s that it’s used at an inappropriate time and tries to cram too much information into as small a space as possible. When someone asks what you do, you should give a generic answer (your title or job position, and your company name, maybe a SHORT sentence qabout what you do). You wait until you are actually invited to pitch your wares to launch into your sales pitch.
This conversation could go something like this.
“What do you do?”
“I’m a business consultant with XYZ company. We help shoe companies increase their distribution”
“Sound like something we could use, what kind of results do you get?”
“Our benchmarks show that companies that use our program get an average of 15-19 percent increase in distribution over the first two quarters — 8% above any other program tested”
See how much more natural that is?
When you launch into your long, run-on sentence sales pitch, right after being asked a simple polite “what do you do?”, then you come off as the typical pushy and over eager salesperson.
I think this is what bugs most people about the standard elevator pitch.
Scott — I think you would probably temper who you gave the pitch to. If you are prospecting I would open with it, if you meet someone in a book store you might temper or shorten it. It would depend on the nature of the conversation.
One is a social greeting, the other is used to engage a prospect who doesn’t know why he should talk to you.
But the whole conceit of the elevator pitch is that is should be used in a chance meeting, such as in an elevator. I would take that context as a polite social greeting, but everyone else seems to think it is an opportunity to launch into a hard sell.
When would you consider a proper time to ‘engage a prospect who doesn’t know why he should talk to you.”?
To Scott and all the readers of this post. Check out this link that was posted to a similar questions I posted on Focus.com — it is absolutely fantastic data…
http://www.mediabizbloggers.com/guest-mediabizbloggers/96058814.html