Posts Tagged ‘strategy’

The Ten Second Elevator Pitch

March 5th, 2010

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.

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Getting started with Social Media

January 4th, 2010

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

When you think about it, one might  say that social media networks are simply traditional networking tools, in a new wrapper.  I’ve been social networking since my first sales job more than twenty-five years ago.  In reality, there is so much more going on in the background that most marketing companies and other do not understand yet where social is concerned.  Data that gives organizations a better edge in a number of ways around their brand etc.  Social is more than networking, albeit on the surface that is what it appears to be.

Social media is a bi-product of the need to connect and interact with people and brands.  A social media strategy is now essential to the success of your marketing plan.  Simply having a profile is not enough–it’s how you use social media that makes the difference—whether to develop quality relationships, share information, answer customer queries, and receive valuable data back for clients, stakeholders and product or service improvement.  Engagement, analytics and ROI are key to effective networking, no matter which medium you choose.

Where social media groups are larger in size, full-time or part-time moderators are required, for the good of everyone in the group.  Our moderators are trained and mentored.  They focus on what they do best, which leaves you more time for what you need to do.

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

This process may include niche groups for: market research, users, suppliers, sales, customer workshops and more.  It’s one thing to own many groups, it’s another to manage and maintain them on a day-to-day basis.  Like your main message, the purpose of corporate groups must be well defined, professionally moderated, and the membership focused.

To ensure optimum effectiveness, we work with specialists who have a proven track record with social media.  Social media is only one component of a company’s overall marketing and media strategy.  We can assist you in a number of areas.  For further information visit our website or contact info@salesvisionaries.com to schedule a complementary 1-hour consultation with Dean Holmes LIVE!.

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.

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