The Ten Second Elevator Pitch

March 5th, 2010 by kevinlevi No comments »

By Kevin B. Levi
Founder and President, Winning Message LLC
www.winningmessage.com

Perhaps it is due to my background in Public Relations, but I believe 10 seconds is more than enough time to tell someone what your business offers and how it can benefit them.

I look at the 10-second elevator pitch as a succinct, impactful message that delivers the “what” and “why” of your business to the customer/prospect.  Following is an example of an elevator pitch that only communicates the features of a product or service and not its value or benefit:

XYZ builds and installs custom, back-office financial software for small businesses.

From this statement it is easy to discern what this company does. However, it does not tell you how this business and its products and services can benefit you.   The missing piece in this message is actually what compels individuals to purchase a business’s goods and services.  Without the stated value to the customer, no true differentiation is communicated.

Here is an example of that same elevator pitch above, with the customer benefit incorporated into the statement:

XYZ builds and installs custom, back-office financial software for small businesses to help simplify and automate their invoicing and payroll processes in order to improve accounting accuracy and efficiency.

From this effectively constructed positioning statement, it is clear that ten seconds is enough time to deliver the sales pitch. If you want your sales associates to create interest for a prospect to learn more about your products and services, you need to keep your messages short and impactful, incorporating both the “what” and the “why” of your offerings. Oftentimes, sales professionals have only seconds to engage a prospect on the other end of a cold call, between floors in an elevator, or during a brief encounter at an event.

It is, therefore, an essential business requirement that your customer-facing employees have concise, hard-hitting messages to communicate your business’s value, succinctly, to prospects and customers.

Some companies place their elevator pitch on a laminated card and put it in the hands of every employee in the company, just in case the employee comes face to face with a prospective sales opportunity.  Isn’t this a fantastic idea?  Why not?  After all, every employee in your company, regardless of their primary role, can serve as an extension of your sales function.  This includes the person answering the phone, your accounts receivable person, your delivery person and more.

Imagine one of your employees is in the elevator with a person who just happens to be looking for exactly what your company is selling. Now, let us assume this staff member is unprepared to deliver your killer sales message. The opportunity walks right out those doors when they open on the next floor.

Now, imagine that same opportunity arises, but this time the employee is armed with the proper sales pitch. When the opportunity presents itself, the employee introduces him/herself and delivers the message.  Is it not possible that the message may peak the interest of the person sharing the elevator, so that he/she agrees to a follow-up discussion?  Of course it is.  Furthermore, that exceptional opportunity might just turn into a significant sale for your company.

An elevator pitch isn’t something magical that shakes money from the trees or is appropriate to use in every situation, but it should be designed to deliver enough impact when used to help foster deeper discussion.

Take the Alberta challenge — we want to hear from you!

February 21st, 2010 by Sales Visionaries Inc. 2 comments »

Is Alberta the energy capital of the world? or Houston?

Excerpt from Edmontonians magazine

When asked why the Alberta energy sector should join Linked: Energy, Tingle was quick to respond: “Recently, I noticed a discussion about request for a subgroup for Houston. They were calling themselves the ‘energy capital of the world’. Being Canadian, I thought Alberta should vie for that title. Albertans should join our group because of the vast opportunities to learn, socialize and promote themselves, and the great Province of Alberta. It is amazing how Alberta and Canada are viewed by our members.”

P.S.  Next to Siberia, although, even that is up for debate according to various industry specialists.  See pages 7-9 in February 2010 Edmontonians Magazine to read the full articles. You may also comment in the Linked Alberta | Energy group on Linkedin.

Are you getting maximum return on your investment in social media?

January 4th, 2010 by Sales Visionaries Inc. No comments »

Why does adding the word “media” to the mix make this topic so complex and sticky?   Because social media is very viral, and every platform is unique.  This brings on a learning curve and requires time, resources, management, and security.  I recall hearing similar concerns when the Internet went public.  Social media is for those who now want a more interactive presence.

When you think about it, one could say that social media networks are traditional networking services in a new wrapper.  I’ve been social networking since my first sales job over twenty-five years ago, and if today’s tools were available then, I could tell you exactly how many networking events I’ve attended since.  Contacts became easier to manage with the introduction of  personal digital assistants (PDA) years ago, and customer relationship management (CRM) solutions are more advanced—and there’s something new on the market every year.

Social media is a bi-product of a need to connect and interact with people, like many other third-party applications for use in the cloud.  A social media strategy is more likely to result in greater value to your group members and connections.  Simply having a profile is not enough–it’s how people use social media that makes the differenceto develop quality relationships, share information, answer customer queries, and receive valuable data back for customers and stakeholders.  Engagement is key to effective networking, no matter which medium one chooses.

How can social media help your company improve its customer service?  Social networking brings a warmer touch to online networking with the addition of bio photos, profiles, video, virtual reality, referrals and more.  These tools are all ever-evolving.. that’s progress.

Where social media groups are larger in size, full time or part-time moderators are a necessity to manage the groups and content, for the good of everyone in the group.  Our moderators are trained, managed and paid hourly through our suppliers.  They focus on what they do best, which leaves you more time for other things that require your attention.

Companies expecting to see a return on their investment must include an overall social media strategy in their business plan, whether for customer service, or for sales lead generation, marketing, to create awareness, employee and supplier communications and training, to share events, or other.  In order for organizations to get the most from their investment in social media, they must commit people, time and money for setup, management, maintenance, measurement, and reporting.  This can be internal, external, or a blended solution.

The above process may include market research, focus groups, users groups, supplier groups, sales groups, customer workshop groups, etc.  It’s one thing to own many groups, it’s another to manage and maintain them most effectively on a day-to-day basis.  The purpose of corporate groups must be well defined, professionally moderated, and the membership focused.  See Linked:HR (the world’s #1 largest group on Linkedin).  Sales Visionaries Inc. is the sole Alberta distributor for ULP Networks, Inc., owners of Linked:HR, Linked:Energy, and more.

To ensure optimum effectiveness, we work with specialists who have a proven track record and years of experience in social media.  Our social media model is based on 360 degree online community leadership—for Management.  Social media is only one component of a company’s overall marketing and media strategy.  We can assist you in a number of areas.

Interested in raising the social media bar? We invite you to join the International Association of Evangelists for Social Media (IAESM) group, an international trade association dedicated to best practices and social media for business.

Selling Is . . .

December 8th, 2009 by Sales Visionaries Inc. 1 comment »

Who’s selling in your organization?  Selling is . . .