Open doors with an elevator pitch

Sometimes, a quick assessment of your idea by a client in a hurry determines whether it will live or die.

Or you may be told that the presentation that you prepared exquisitely to fill 45 minutes now has to be given in just 5. Fact is, you can’t count on your client’s availability or attention, even under the best of circumstances. Or you may suddenly have a brief window of opportunity appear in which—if you’re quick and concise—you can get a client consider a proposal. So you’ve got to be ready with what’s often called an “elevator pitch”.

It’s called that because from start to finish, an elevator pitch takes about as long as an elevator ride between floors of a medium-size building. Imagine your client’s on her way to a meeting on the 21st floor and you meet her in the lobby. Now’s your chance.

Here’s a plan for how to think effectively about elevator pitches:

First, name your prospect’s pain. Identify what problem of hers your proposal intends to solve. State it plainly and succinctly.

For example, “Sales of your Product Z haven’t met plan for the past three months.” Be factual, and indisputable. This isn’t the time for debates or opinions. (Like how much you detest her current ad campaign.)

Then, isolate a cause of that pain. “Your own research says one reason that’s happening is because your customers find your Web site hard to use.”

Next, quickly summarize your idea. We’ve developed a new, five-point plan that will simplify your site so much, it will actually bring your customers back.” You’ll need to give just enough specifics here so it sounds to your prospect that there really is something there.

Then, offer value. “We think this will not only reverse the sales slump, but help you beat sales targets for the year.”

Last, ask for the next step. “Can we get your backing to develop a pilot version of the simplified site?”

You may not get a yes right then and there, but if you’ve prepared well, you’re likely to at least get another meeting with her and the team to flesh out details. Then again, you may very well get a green light, especially if your client has sufficient authority to OK it herself. The outcome will depend on how urgent the need is, how deeply the pain is felt, how much trust you’ve engendered, and countless other variables. The important thing in an elevator pitch is to respect your client’s time—which increases her respect for you at the same time.

Guidelines for elevator pitches

It’s all about your customer, not all about you or your great idea. Too often, people pitching ideas fall more in love with their gimmick, innovation, or product than in love with their client. They’re so caught up describing their brainchild, they never bother to talk about what’s worrying their client or what benefits their product delivers. And by the time these self-centered pitch-people realize their mistake, their client has often checked out.

Always pitch to needs, not wants. Of course, you’ve got to nail down what’s causing your prospect pain ahead of time. And you’ll want to be sure that there’s a lot of pain for her if there’s a lot of investment required for your proposal. That makes elevator pitches risky. In a different, longer sort of pitch, you have time to dialogue with your prospect to find out what’s bugging her. In an elevator pitch, you’ve got the hope you’re guessing right. Do your homework to find out as best you can what her motivations and what interests, needs, or concerns are hurting the most.

Keep it simple. Your pitch must be in simple language, easy to understand. Your prospect has lots on her mind. Don’t add complexities. Distill the essence of your idea down to two or three points. The details can come later—if you get her interested.

Make your promise hard to refute. Use facts from sources your prospect trusts. (Don’t assume she trusts her own firm’s data.) Don’t overstate, exaggerate, or fabricate—you, and your idea, may end up looking ridiculous to savvy executives.

Most of all, finish fast, zip your lip, and listen up. How is your prospect reacting to your idea? You won’t ever find out until you stop talking. And if you listen carefully, you may hear the most wonderful word in the English language: “Yes.”

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