We are starting a new 4-part series about an important strategy for you to develop for your business marketing: the Elevator Pitch.
An elevator pitch is a focused description of you, your company, or your products boiled down to only 25 to 35 words. It answers several basic questions, and it leaves in the mind of the recipient the request, ‘Tell me more’. The term ‘elevator pitch’ comes from the idea that if you are in an elevator or lift with someone you want or need to work with in the future, you should be able to describe yourself and your company or project in the time it takes the elevator to ‘get to the top floor’.
In your elevator pitch, you want to just give a quick overview of your idea. Getting too much detail is not the point of an elevator pitch. You want to give your listener a reason to hear more.
- Entrepreneurs use elevator pitches to sell their ideas to venture capitalists or angel investors.
- Elevator pitches are not supposed to close the final deal; the purpose of an elevator pitch is to get the listener interested to hearing more and meeting with you again for more information.
Whatever your business goal, whether it is to get financing, to find business partners, or to acquire future clients, you are selling an idea. In order to make the sale, you have to have someone to listen to your idea. An elevator pitch is a way to get very important but very busy people to quickly listen to your idea; an effective elevator pitch is both a communications tool and a sales tool.