ELEVATOR PITCH TECHNIQUE

ELEVATOR PITCH TECHNIQUE

You’re in an elevator.  You hear a voice asking you to hold the door, so you do, and to your surprise, it’s the CEO of your company who is now smiling and offering thanks as well as saying “So you work in product development right? Remind me, what it is you do?“

Are you prepared?  Will you response be well timed, concise and articulate?  Can you impress him/her?

The objective of an elevator pitch is to deliver just enough of the crucial information in a charismatic and articulate manner, so that it leaves one naturally asking for more information.  Done properly, an elevator pitch will encourage more questions, giving you more time to sell yourself.

So how do you prepare an elevator pitch? Follow these 4 easy steps and you’ll have a winning pitch!

 

1. WHO:  Describe who you are?
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Keep it short. 

  HINT: What would you most want your listener to remember about you?

EXAMPLE: 

“Zed Studio is a design consultancy and manufacturer that specialises in interactive and
illuminating point-of-sale advertising displays.”

2. WHAT:  Describe what you do

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Here is where you state what value you can add or the benefits you can bring.

  HINT: this should allow the listener to understand how you or your company would add value

 

EXAMPLE

“Our designs are guaranteed to increase brand awareness by 68%, Ad recall by 72%
and purchase intent by 86%.”

3. WHY: Describe why you are unique

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Now its time to show the unique benefits that you/ or your company bring to business.
Show what you do that is different or better than others

EXAMPLE

“We combine leading technologies with creative intelligence that results in point of sale
displays unlike any other on the market.  Whether it’s a custom built shop window or a retro
products stand out amongst all their competition.”

 

4. GOAL:  Describe your goal

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Describe your immediate goals.  Goals should be concrete, defined and realistic.  Include a time frame as well as figures (if appropriate).

  HINT:  This is the final step and it should be readily apparent to the listener what you are asking of him or her.

 

EXAMPLE

Over the next 12 months we are looking to expand our global reach.  We are seeking £xxx for
a £xxx return on investment to speed up the process.

 

Elevator pitch examples

“Zed Studio is a design consultancy and manufacturer that specializes in interactive and
illuminating point-of-sale advertising displays.

Our designs are guaranteed to increase brand awareness by 68%, Ad recall by 72% and purchase intent
by 86%. We combine leading technologies with creativity and intelligence that produces point of

sale displays unlike any others on the market.  Whether it’s a custom built shop window or a retro

 fitted product stand, we create the WOW factor with every design to ensure that our client’s

products stand out amongst all the competition.

Over the next 12 months we are looking to expand our global reach.
We are seeking £xxx for a £xxx return on investment to speed up the process.”

(40 seconds in length)

 

THINGS TO REMEMBER

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Make sure your elevator pitch is between 30 and 60 second in length.    It should NEVER exceed
60 seconds.

 

Ensure your delivery is compelling and enthusiastic, but try not to use overly flashy openers-
don’t forget your audience has probably heard them all before.  Make each sentence unique and
engaging.

 

Make certain your pitch is tailored to your audience and that it is easy to understand.
Avoid using technical jargon or acronyms- this is a sure way to loose interest.

 

If you are pitching to an investor or Business Angel, mention their return on investment
and how much funding you are looking for

 

Stick to hard facts and never exaggerate the truth.  Your job is to instil integrity and
credibility into you and your message.  Sometimes audacity can be misinterpreted.
Stick to what is safe.

 

 

 

 

 

1.          WhirlyBird Yogurt Stores

Good Example:

Each WhirlyBird Yogurt store will offer 10 flavors of yogurt and 25 toppings to people within a five-mile radius of their carefully selected locations, ideal for people who want a healthy meal or snack. As an example, now the 300,000 people who live and work in Meadowbrook won’t have to drive more than five minutes to get great yogurt, served by friendly people in a sparkling clean store. Frozen yogurt has been the fastest growing category in over-the-counter snack foods for the past 3 years, with year-over- year growth rates of 17%. WhirlyBird’s founder, Ronald Smith, has 10 years experience as a regional manager of quick-service restaurants, where he learned how to run efficient, profitable stores. With that experience, Mr. Smith is confident about opening WhirlyBird Yogurt Stores at the rate of 1 every 6 months and building a business that is profitable from year one and surpasses $25 million in revenue within 5 years.


Bad Example:

WhirlyBird Yogurt Stores will be poised to take over the competition because our products are the most healthy and nutritious available. The difference is gluten-free products that don’t have the toxins found in other yogurts. All of our yogurts contain two forms of live bacteria: bulgaricus and thermophilus. Our founder, Ron Smith, has been eating it for years and credits that with his ability to run three marathons a year at age 45. As more people learn about the detoxifying powers of bacteria-rich yogurt, WhirlyBird’s business will soar.