What Makes a Good Elevator Pitch?
May 21, 2010
By Jim Sheehan, Regional Sales Manager
Whether you’re visiting a customer, prospect or partner, you need to first ask yourself, “What is on the mind of a CEO, CFO, COO or SVP?” You may be in the building attending a meeting when the CEO walks past you in the hallway. He or she may stop you in the in midstride and say, “I understand you are meeting my marketing team this morning to support our U.S./Mexico campaign.”
At that very moment, you have 30-45 seconds to speak with confidence around what you do and how you engage clients to act. If you blurt out, “We offer print management programs that help clients reduce cost,” for example, you are just one of those other guys! Trust me, you’re no different. You’re not memorable.
This is a defining moment for many business professionals and may determine if you move forward in the sales process or lose your executive sponsor. Remember, you need to be speaking “their language” in a way that makes it interesting to them.
Here’s a thought: If you can’t (1) properly introduce yourself, (2) articulate what your company does and (3) explain how you go to market, you may not motivate him or her to act. Today, your team members will collaborate around what works and what you should leave back at the office!
Here’s another thought: Being able to articulate your business will separate you from your competition. People at the executive level want partners, not suppliers. Furthermore, most companies in today’s economy are reducing and eliminating the later. You need to be credible as you interact at this level.
It all goes back to the question, “What is on the mind of a CEO, CFO, COO or SVP?” And once you figure that out, can you speak their language? Take the following terms, for example, that are certain to be critical elements in any conversation you have with an executive:
- ROI: Today, you have to be talking days and weeks, not 18 months
- Working Capital: Cash is king! How are you going to help senior executives free it up?
- Obsolescence: Waste of actual product, financing for that product and warehouse space
- Enabling Technology: The ability to take command and manage business outcome
- Customer Loyalty: Measured by lower product defect, increased customer experience
- Branding and Compliance: Communicating your brand effectively, remaining agency compliant
A final thought: Today more than ever, U.S- based companies compete in a global market. I read a book by Thomas Friedman that all of you should read, titled, “The World is Flat.” This book looks at the overwhelming and compelling evidence that our world continues to shrink (flatten) and “business players” are accessible two clicks away.
The reason I bring this up is that today’s executive needs to be “athletic” when approaching corporate objectives verses 10 years ago.
If you’d like to comment on any of these topics or if you’re interested in accelerating and sharpening your sales techniques, drop me a line. There are some terrific programs out there that could both help you and benefit from your experience and input.
Filed under: Industry Insight
