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Perfecting Your Elevator Pitch Tim Cooney, Advantage One Imaging Center Mark McNulty, ActionCoach

Perfecting Your Elevator Pitch Tim Cooney, Advantage One Imaging Center Mark McNulty, ActionCoach. Tuesday, May 17 th 8:30am-1:30pm Holiday Inn Conference Center 5 minute meetings 2 minute pitch 3 minute question and answer. “The most valuable of all talents

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Perfecting Your Elevator Pitch Tim Cooney, Advantage One Imaging Center Mark McNulty, ActionCoach

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  1. Perfecting Your Elevator Pitch Tim Cooney, Advantage One Imaging Center Mark McNulty, ActionCoach

  2. Tuesday, May 17th • 8:30am-1:30pm • Holiday Inn Conference Center • 5 minute meetings • 2 minute pitch • 3 minute question and answer

  3. “The most valuable of all talents is that of never using two words when one will do.” -Thomas Jefferson

  4. What is an Elevator Pitch? • An elevator pitch is a short summary used to quickly and simply define a product, service, or organization and its value proposition. • This is the 30-60 second business description of what you do and why someone should work with you. • How would you explain your business and make a sale if fate placed you in an elevator with your dream prospect and you only had the time it takes to get from the top of the building to the bottom?

  5. Essential Elements of a Powerful Pitch Clear. Use language that everyone understands. Don't use fancy words thinking it will make you sound smarter. Your listener won't understand you and you'll have lost your opportunity to hook them. Powerful. Use words that are powerful and strong. Deliver the "Sis-Boom-Bang" to grab their attention! Visual. Use words that create a visual image in your listeners mind. This will make your message memorable. Tell a Story. A short story, that is. A good story is essentially this: someone with a problem either finds a solution or faces tragedy. Either type of story can be used to illuminate what you do.

  6. Essential Elements of a Powerful Pitch Goal Oriented. A kick-ass elevator pitch is designed with a specific outcome in mind. What is your desired outcome? You may have different pitches depending on different objectives. For instance do you want to: make a sale, gain a prospect, enlist support for an idea, or earn a referral. Has a Hook. This is the element that literally snags your listener's interest and makes them want to know more. This is the phrase or words that strike a chord in your listener. Know what you're trying to achieve. The first goal of any meeting is to get a second one. This is not the format to begin a story or dive too deeply into detail. Think about the bigger messages that help set your company or organization apart and make sure those are relevant to the here and now.

  7. Essential Elements of a Powerful Pitch Know your target. Your pitch is far more likely to be compelling if you know your target and their needs. Choose those things you know are of most interest to your listener—what your service or product can do for them. It's not about you. Don't spend too much time highlighting your own achievements and going over past accomplishments unless you can tie them directly to the reward for your audience. Keep it real. You don't want to say anything you're not comfortable with. Stick with those "messages"—the bigger selling points of your organization or business—to which you can really speak well. Don't use slang or industry jargon unless you know your listener is comfortable with it. Stay away from platitudes; every business says it's "customer-focused" and "uniquely positioned.”

  8. Essential Elements of a Powerful Pitch Be specific. Concentrate on actual examples of how you're customer-focused or uniquely positioned. Talk about the client you recently went the extra mile for; the problem that looked impossible until you got involved; the buyer who was thrilled with the result. Preparation is key. Preparation is the key to confidence, so don't ever wing it. A first impression only happens once. Respect your audience enough to prepare well; that includes arming yourself with succinct answers to the toughest questions that might follow your pitch. Solve a problem. Focus on the problem you solve for the listener—the solution you are offering to their specific need.

  9. The Elevator Speech VS. Value Proposition The Elevator Speech: What do you do? What do you offer? The Value Proposition is designed after needs are identified to answer: How do you do that? It is used to solicit the response: Tell me more….

  10. The Value Proposition …is a CLEAR and SIMPLE statement about the tangible RESULTS a client gets from using your product or service. It focuses on OUTCOMES and stresses the Business VALUE of your offering.

  11. Three Types of Value Props: The Benefit-Centered Approach • Take a positive outcome: • Tie results to a critical business/personal issue: Template: I/we work with/help (target market) who want to(describe what your customers want). Examples: XYZ Upholstery helps clients update and renew their office work space. NOW WRITE YOURS!

  12. Three Types of Value Props: The Pain-Centered Approach • Take a negative outcome: • Tie results to a critical business/personal issue: Template: I/we work with/help (target market) who are (VERB – struggling, searching, etc) with (a specific pain or problem) Examples: We work with first time home buyers who are confused with the mortgage maze. NOW WRITE YOURS!

  13. Three Types of Value Props: The Question-Centered Approach Template: If I could show you a way to (get rid of the pain and/or provide a benefit) would that be worth 15 minutes of your time? Examples: If I could show you a way to increase qualified leads and improve closing ratios would that be worth 30 minutes of your time? NOW WRITE YOURS!

  14. Essential Elements of a Powerful Pitch Let your passion show. Let your listener hear the commitment in your voice and your words. Let them see your involvement via direct eye contact and confident body language. An elevator pitch is not a dry recitation of facts delivered neutrally. If you want to move someone to take action, you have to show them you care. Practice. Clear speaking reflects clear thinking. Even if your pitch is one you have used regularly, get some feedback from a coach or a trusted source on how to improve it. Keep it short. Under the best of circumstances, people have limited attention spans. The fact that you have to deliver a quick pitch—whether because of an unexpected encounter, a change of plans, the impatient client who says, "Walk with me"—you’re already at a disadvantage. In the wise words of Winston Churchill, "Be clear. Be brief. Be seated.“

  15. Essential Elements of a Powerful Pitch Keep it fresh. Every business grows and changes, and your pitch needs to grow and change with it. You know your business better than anyone. How are you keeping abreast of the latest ideas? As your audience’s needs and expectations change, make sure that you change the way you speak about your business. Always be prepared. Be flexible enough to be guided by your listener and their reaction to what you're saying. If he or she interrupts with questions, make sure you answer them.

  16. Questions? Tim Cooney – tim@advantageone.biz Mark McNulty - mark@coachmark.biz Kami Latham – klatham@columbusareachamber.com Amber Fischvogt – afischvogt@cedcorp.com For a copy of this presentation and other resources visit: www.cedcorp.com/meetthebuyer

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