Some advisors and business consultants cringe at the thought of an “elevator speech” or “elevator pitch” — that brief description of your business and what you do for clients that can be told in just a few seconds. But creating one will help your business and improve your professional image.
Sandra Foster, president of Toronto-based HeadSpring Consulting Inc., is no proponent of elevator speeches. Prospecting, she says, is “about getting out of that elevator.” She does, however, agree that it’s important to have a focused message when talking about your business.
“You need to know how you add value to your clients,” Foster says.
Whether you’re at a networking event or riding between floors, it always helps to have a brief, impressive reply at the ready in case someone asks what you do.
“You need to have an answer and you need to look smart when you’re answering,” says Sandra Bekhor, president of Bekhor Management in Toronto.
If you can’t answer the question in a way that distinguishes you, people will simply group you with all financial services professionals, says Donald Robichaud, president of FloodLight Consulting in Kelowna, B.C. “If you say, ‘I’m a financial advisor,’ they basically think of the last financial advisor they didn’t like.”
Here are a few strategies to help you craft your pitch — whether you use it in an elevator or not.
> Ask yourself questions
When creating your message, Robichaud says, ask yourself four questions:
– what’s my target market?
– what problems do I solve?
– how does my market feel about these problems?
– what results do my clients receive by using my service?
The answers to these questions should give you a fresh, clear idea of the services you offer to clients. And whether or not you develop an elevator speech, this process will give you valuable insight into your business.
> Add creative flair
Now that you have a clear understanding of your services, you can be creative in the way you talk about them.
“Start telling them, through that conversation, what you do,” Bekhor says, “but not in the traditional ‘elevator pitch’ formula.”
For example, she says, you can ask questions to engage the other person. Or hook the person with an anecdote.
“A story could capture an idea,” she says, “so long as you start by understanding the key point you want this person to walk away with.”
> Use your firm’s resources
If you’re having trouble finding ideas for your speech, try your company’s resources, starting with its website.
“Most financial institutions have marketing people who understand sales,” Robichaud says “and have addressed the problems that clients are having.”
> Try it out
Test your story at least 20 times to determine its impact, Robichaud suggests.
“In using an elevator pitch or a couple of key phrases a number of times,” he says, “you get to see how people react on the phone and in person.”
As well, be conscious of whom you choose to test your pitch. Look for people who do not know your business, Bekhor says, because “they’ll respond naturally.”
> Keep it fresh
Remember that pitches are adaptable and you shouldn’t be afraid to revise yours.
“It’s not formal text for a presentation,” Bekhor says. “It’s a conversation. It has to roll off your tongue. And if you’re not comfortable with it, change it.”
If you go to many networking events using the same pitch, people will begin to notice it’s the same story.
“If you’re using a creative approach,” Bekhor says, “it’s easy to update it without changing the message.”
IE