An elevator pitch is a short and punchy speech that tells a stranger about who you are, what you do and your purpose (what you achieve for your customers). It’s called an elevator pitch because you should be able to deliver it in the time it takes an elevator to go from the ground to the top floor – so 30 seconds or less.
It needs to offer enough information to grab your audience’s attention, give them a good flavour of what you do and how you could help them but keep them wanting to know more.
It’s likely that you may need more than one elevator pitch, depending on your audience. For example, if you’re pitching for investment your audience will be more likely to be interested by your financial performance to date and growth plans; whereas if you’re pitching to new customers, they will be more interested in how your product helps them.
The beauty of an elevator pitch, once crafted, is that it can be used in several situations and, because of its brevity, should just slip off the tongue. Its ideal to use as an introduction at networking events or any events you’re asked to speak at. It’s great for social media profiles, works well on a website or any marketing materials you produce and can even form the basis of a tagline for your business.
How to craft an elevator pitch for your business
- Identify the goal – are you trying to attract new customers, new recruits, funding?
The following example is based on attracting customers.
- Explain what your business does in a straightforward way, we are
- a restaurant,
- a hotel,
- a bed and breakfast
- Identify what makes your business proposition unique
- our dishes are all completely allergen free
- we are 100% carbon neutral
- we offer detox healing retreats
- Back up your unique business proposition with the benefits your customers receive:
- our customers love the fact that they can enjoy gourmet food without fear of falling ill
- our customers love the fact that they are playing their part for the environment by staying with us – and they learn tips and tricks they can take home with them that saves them money in their everyday lives
- our customers all report feeling lighter, less bloated, happier and more confident when they leave at the end of the weekend and most continue to benefit even weeks after they’ve returned home
The above should take you no more than 30 seconds to deliver. Then you can expect a follow up.
- You’ll likely be asked how you deliver the above. Don’t be tempted to go into a dialogue about your general processes. Instead turn the question back on the potential customer so that you then become the expert and provide immediate (and unexpected) value for them. For example: –
- Question: How do you manage to keep the taste without adding some of the ingredients that add flavour?
- You ask: What’s your favourite dish?
- When you are told you can explain which ingredient you would swap out for another to avoid allergens and explain why it works.
- Question: What have you introduced to help become carbon neutral?
- You ask: What’s the biggest cost in your house or what are you concerned about the most?
- When you are told you can give top line information on how you have tackled it but also give a simple and cost-effective tip that people can do in their own homes.
- Question: What does detox involve?
- You ask: What areas would you like to improve from a mental, physical, emotional health perspective?
- When you are told you can give an example of one of the treatments that would be recommended and explain that each stay is personalised.
The same approach works for recruiting new staff or attracting investment. Clearly you need to work out first what’s unique about you as an employer (why would someone want to work for you) or why you’re a sure-fire bet to invest in (your goal is to be the top visitor attraction in the East Midlands). And this approach won’t work for you if you are not an expert in your business and what you say your business excels in. But we’re assuming you are.
You may need to trial your elevator pitch and adapt it until it feels right, you sound relaxed, and you don’t sound like a robot with a rehearsed speech. If you need a hand with this, we have support available for you. Either complete the form included on this site or connect with our business advisors.