How to Master the Elevator Pitch

Elevator

 

Science doesn’t lie: You only have seven seconds to make a first impression, at which point the person opposite you has already decided whether or not you’re worthy of further attention.

In a sales setting, the stakes are high, and chances are a prospect will decide whether or not to continue exploring a relationship with your company in less than a minute. That puts a lot of pressure on you to develop a perfectly-honed “elevator pitch” that can engage and excite a potential customer in virtually no time at all.

It would take a lot longer than an elevator ride to comb through all of the good advice on crafting your elevator pitch, so let’s boil it down to the essentials. I talked to a number of experts who’ve spent time in the trenches – er, the elevators – to get their wisdom on how to pitch your idea quickly and clearly. Here’s the inside line on the very best advice you’ll find on the topic.

Start Strong

With every word you speak, you increase the possibility of losing your prospect. Start with your absolute strongest and clearest message points up front. In most cases, you have one sentence to sway the balance for or against you. “Your opening line will mostly determine your success,” says Steve Hatmaker, Jr., who does digital marketing for Seismic Audio. “Snag your listener’s interest and make them want more.”

Get Super Specific

Brilliant Growth website consultant Alexandra Velez has gotten the pitch down to a science. “Every 130 words equals a minute, so a 15 second pitch is about 30 words. Choose wisely!” she says. Every word is critical, and one of the best word choices, she adds, is to use numbers or quantities to add weight to your pitch. Consider “We reduce pain” vs. “We reduce joint pain by 50 percent in three weeks.” Quantifying your pitch gives it gravity and demands it be taken more seriously. “There’s a tendency to be company oriented rather than customer oriented in pitches,” she adds, so remember to speak primarily to your prospect’s likely paint points, not necessarily your service or product offerings.

Eject the Jargon

“One very simple key to mastering the pitch is to eliminate all industry jargon,” says financial advisor Pedro Silva. “Words like ‘leverage,’ ‘negotiate,’ ‘manage aspects of,’ and so on come across as pompous. Picture asking a pilot what he does for a living and hearing, ‘I negotiate thrust and acceleration to provide lift sufficient to transport goods to new and existing markets.’ Sounds fancy, but, at the end of the day, you’re a pilot.” Your time-crunched audience does not have time to do the mental gymnastics required to figure out what paradigm you’re shifting. Use simple language to keep your message crystal clear and accessible.

Minimize to an Extreme

With your core message finalized, it’s time to pare it down to the absolute minimum length you can. Ovation Communications president Kerri Garbis says to use what she calls the Tweet Test: “If you can’t distill what your company does or product is into 140 characters, you might not be so clear on the message yourself. Remember – people can, and hopefully will, ask you follow-up questions. There’s no need to include every detail about your company in your pitch.” The sentiment is extremely common. Remember what Richard Branson has said: “If it can’t fit on the back of an envelope, it’s rubbish.”

End on a Question

Green Vine Marketing founder Shane Robert offers an interesting strategy: End your pitch on an engaging question. “You can never sell your product or service in 15 seconds,” he says, “so don’t try. Instead, structure your 15 second elevator pitch for a sale that you can close: another 30 seconds of conversation. The easiest trick for doing this is turning the spotlight back on them with a relevant, engaging question, which feels like a conversation, putting your prospect at ease.” Remember: Most people would rather talk than listen.

Pitch for the Long Term

Be honest: As Robert notes, you aren’t going to close your deal on that elevator ride. What you want is a business card, a phone number, or another type of invitation to keep talking. “People think they only have 15 seconds to give an elevator pitch. Engagement is the great equalizer. If your prospect is engaged, the pitch can go on for as long both parties’ schedules permit. So how do you be engaging? My greatest successes have only come when I was actually passionate about what I was pitching,” says online video producer Edward Sturm.

Practice, Practice, Practice

The beauty of the elevator pitch is that you never know when the opportunity to pitch your business will strike. Always be prepared to deliver your message at any time by practicing relentlessly – either in a mirror or on video. Bonus tip: Have a co-worker or spouse surprise you with a “Pitch me!” prompt at random times to test your readiness.

 

At Insightly, we offer a CRM used by small and mid-sized businesses from a huge variety of verticals. Learn about all of Insightly’s features and plans on our pricing page or sign up for a free trial.

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About the Author: Christopher Null is an award-winning business and technology journalist. His work frequently appears on Wired, PC World, and TechBeacon. Follow him on Twitter @christophernull.

How Do Millennials Shop?

Open gift

 

Born between the early 1980s and the early 2000s, Millennials today span ages from roughly 15 to 35. Now in their prime consuming years, they hold a massive sway at retail, commanding some $600 billion in annual retail purchases.

Millennials are often seen as a difficult generation for retailers to reach, suspicious of big business, unwilling to commit to large purchases, and generally flighty as far as customers go. But is that reputation warranted? Here are five aspects of how Millennials shop – particularly as it relates to online purchasing – that can inform how you reach out to these critical customers.

Showrooming is Rampant

The rise of mobile devices can be felt no more strongly than in the hands of Millennials, who have adopted smart phones to a degree unmatched by any other demographic. Over 85 percent of this generation owns a smart phone (compared to 71 percent of the total U.S. population), and they are almost invariably seen as essential parts of their daily lives. As shopping goes, Millennials rely heavily on these devices to research products, find the best deal, download coupons, and (especially) read reviews.

It’s important to think of showrooming not as a threat but as an opportunity: While some offline shoppers turn to online when a better deal is found, increasingly we’re seeing that the reverse is true as well. Millennials are more likely to find a great product online, then make a final purchase in a local store. For online retailers, the key is to grab shoppers no matter which side of that fence they’re on – through offering more and more detailed product information than competitors, smart and curated reviews, and competitive pricing.

Brands Need a Strong Social Media Presence

You’ve heard this one before, but when it comes to Millennials, figuring out your social media strategy is critically important. Don’t worry too much about being cute and clever on Twitter. When it comes to Millennials and brands on social, it’s all about getting access to bargains or coupons. Accenture notes that to be successful, “a brand or product must become a routine part of [Millennial] conversations concerning product information, updates and special offers.” That means talking up popular products and ensuring deals are worthwhile. Pay special attention not to step on toes or, for example, hijack the wrong hashtag. Social media backlash can quickly kill a business with this demographic.

Impulse Buys Are Common

Millennials are famous for “living in the moment,” and that can be seen in the way they shop. More than other demographics, Millennials are more likely to make last-minute purchasing decisions – and are 52 percent more likely to purchase items they don’t really need. Marketers can use this information to their advantage whether or not they are selling products with genuine utility by simply playing up the more luxurious or fanciful aspects of the product rather than (or alongside) any tangible benefits. This doesn’t mean you should position, say, a home security system as useless – but if said system is fashionable and fits in with modern décor, well, all the better.

Millennials Are More Brand Loyal Than You Think

It’s easy to think of Millennials as erratic and unserious, but consider the devotion to brands like Apple, Vans, and American Eagle and it’s easy to see that brand loyalty doesn’t just exist among Millennials, it’s thriving. Frequent shopper deals and loyalty programs are especially hot with Millennials. 77 percent of Millennials are part of a loyalty program, and 78 percent say they are more likely to shop at a store that offers a reward program over one that doesn’t. That intersection of both loyalty and cost consciousness can be a huge boon to retailers who offer a compelling deal to repeat customers.

Brick and Mortar Isn’t Dead with Millennials

Do Millennials eschew the mall in favor of staring at their phones? Not at all. They’re still staring at those screens, mind you – they’re just doing it in public. Like all demographics, Millennials also want to try out products in person before they buy, and they’re not afraid of getting out of the house any more than any other generation. What they do want, however, is a shopping experience that seamlessly melds both online and offline elements. Consider, for example, the digital coupon. Millennials are generally happy to engage with mobile coupons, but ask them to print it out on paper and bring it to the store instead of just flashing a phone screen and they’ll probably walk right out the door.

 

At Insightly, we offer a CRM used by small and mid-sized businesses from a huge variety of verticals. Learn about all of Insightly’s features and plans on our pricing page or sign up for a free trial.

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headshot2011-exectrav-Null

About the Author: Christopher Null is an award-winning business and technology journalist. His work frequently appears on Wired, PC World, and TechBeacon. Follow him on Twitter @christophernull.