Why we all need an elevator pitch

Why we all need an elevator pitch

I have come to the conclusion that each of us who represent our business to the outside world, however that is defined, needs to have a honed and perfected elevator pitch.

What is an elevator pitch?

It is a succinct, thought-through and rehearsed explanation of what the business does.

Why do we need one?

Why we all need an elevator pitch 2

Can you describe your company in the time it takes to move between floors in an elevator?

Because the world is complicated and we all assume too often that others completely understand where we are coming from and what we do. Most people interviewed at the start of media training make daft assumptions about the knowledge of the journalist. Once this is pointed out, it is obvious but it is not just relevant for journalists. I am always using my elevator pitch when introduced to new people. I lengthen or shorten it depending on the circumstances.

What are the elements?

I think the elements are first an overview or helicopter view. ‘We sell software that helps people cut their use of paper and save money’ or ‘we provide a wide range of personal and business insurance for the UK market’ etc. Second a bit of detail e.g. size of the business, number of employees, range of contracts, key clients etc. and finally an example of a good piece of work you have done.

Do I need to include the history of the business?

I believe the history of the organisation is only relevant if it is memorable and interesting. If it was started in a cow shed in 1901 or was the brainchild of an astronaut, use it, otherwise don’t bother.

Why is the overview so important?

Because detail makes no sense to people if you don’t provide a frame for it. Once you have the frame you can hang different things on it, but you need the frame.

Why so much emphasis on numbers?

Numbers allow people to understand scale, whether that’s scale of an operation, scale of the growth, scale of the potential market. Without scale, people are left wondering or guessing.

Do you really need examples?

Never miss the examples, they are always the things people will remember after they forget the overview and the numbers.

Warning! Do not try to be all things to all people!

Sounds daft but this is such a common mistake. A story I often tell from the early 2000’s when I was media training a start-up in the dot-com boom.

Me: ‘What is your website for?’
CEO: (aged 22): ‘It’s for all sorts of things, all sorts.’
Me: ‘Okay, what sort of people do you envisage visiting your website?’
CEO: ‘All sorts of people’
Me: ‘So, what might prompt them to visit the site?’
CEO: ‘Oh, all sorts of things!’

I left after three hours none the wiser what this company planned to do (of course, it is possible they didn’t know either which is a different problem.) Much better to give an idea and then layer in further information later if you get the chance.

Warning! Avoid positive bland!

This is another major problem. People think it is impressive to say ‘we provide a great service for our customers’, ‘we help clients become more efficient’, ‘we help make staff more productive’. No detail and only positives means it is unconvincing propaganda. You might as well not bother.

Warning! Do not use the org chart unless you have a diagram!

People are tempted to explain how many division and subdivisions there are in the company. This really will bore the pants off anybody and is difficult to hold in your head unless it is very simple (e.g. two divisions, one UK and one European focused) or you happen to have a diagram to hand.

We ran a competition at a conference (ECS 2015) last year asking people to do their elevator pitch to camera. We called it the Message in a Minute challenge. Even PR professionals found it remarkably difficult to do it well. Here is an example from our trained friend: how do you think she did?

Lindsay Williams

About Lindsay Williams

Prior to founding her communications training agency, The Media Coach, Lindsay Williams worked as a journalist from 1983. She specialised in financial and business journalism since 1991. After thirteen years in the BBC with local radio, regional television, Radio 4 and Radio 5 Live, she moved to Reuters Financial Television as Deputy Programme Editor. Working freelance from 1998, she was contracted in a variety of roles including as an executive producer for Bloomberg television delivering half hour profiles of Chief Executives, as a producer with Sky Business Unit and at CNBC. She has had articles published in Sunday Business, The Business, The Times and in specialist magazines such as Companies & Finance and Impact. For the majority of her journalism career she specialised in reporting business and finance. Lindsay Williams hosts a range of bespoke communication skills courses for The Media Coach which include Media Training, Presentation Training, Crisis Media Training and Message Building.

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