The Secret to a Captivating Elevator Pitch
There’s a very simple formula that makes an elevator pitch successful. It goes something like this:
Value Proposition + Audience Targeting = X Factor
As a marketing consultant, business advisor and investor, I’ve heard hundreds of elevator pitches. The best ones clearly connect the dots between what value the business has to offer and who will benefit.
Unfortunately, only a small fraction of the pitches I’ve heard actually do this. Most focus talking about the company and what they do. All very nice - but really, what people want to know is how you’re going to solve their problems or how they can benefit from what you do.
A case in point:
I was recently invited to be a mentor and teach a marketing master class at BLOCK71, NUS Enterprise’s tech incubator. Out of the ten pitches I heard, the best one didn’t have the most impressive founder, advanced technology, revolutionary idea or emotional impact, but the value was clear and for their target customer, it would be life changing.
It was a wearable fan!
This fan is designed to be worn by construction workers and miners for example working in hot conditions, whose health and performance is impacted by their ability to regulate their temperature. For companies in these sectors, the value proposition is clear and compelling: use this hands-free fan to keep your employees cool, so that they can perform better!
The first orders are already flooding in.
If you want to achieve the same, try your hand at today’s worksheet:
Elevator Pitch Worksheet:
Once you’ve completed this exercise, you should have a compelling elevator pitch that will allow your ideal audience to see how your product or service will address their problems or appeal to their desires.
Try it, and let me know how it goes. I would love to see your ‘before’ and ‘after’!
In my next master class, I will help you create a marketing plan for your business. To join, book an in-person or remote session today.