Crafting the Perfect Elevator Pitch

Crafting the Perfect Elevator Pitch

By Dr. Wesley Carter

Imagine this…you get up early and run by the office to grab a handful of business cards before rushing off to a breakfast networking meeting. You’ve identified 5 key people from the attendee list and you’ve done your research on each of them. While at the luncheon, you’re hoping to at least get an introduction to the speaker, the CEO of a local company. If you scoredthis account, it would generate enough revenue to carry your firm for an entire quarter.

As luck would have it, you step on the elevator with only one person. Guess who? You are on the elevator with the very same CEO that you were hoping to meet. This is it! The CEO smiles, offers her hand, and introduces herself. In your excitement,a jumble of words propel themselves out of your mouth and fall flat. This is the moment when an elevator pitch would have saved the day. Instead, you lost the opportunity to build a connection with the most valuable account at the event. You had this one opportunity to paint a persuasive picture of your firm’s value and you let it slip through your fingers like grains of sand.

Could this happen to you? By now, you’re probably asking yourself, “So, exactly what is an elevator pitch, and how do I get one?” In simple terms, an elevator pitch is a set of carefully chosen words that create pictures in the mind of the receiver - - a word picture.

Word pictures! Would you like tocreate a word picture so intriguing that the receiver is instantly curious?Imagine thata well dressed man walks up to you at a networking event and introduces himself as a software trainer. Not particularly interesting, huh? In your mind, you picture him in the back of a dark computer lab full of sleepy students.

What if the well dressed man shakes your hand and states, “I harness powerful technologies and put them in your hands.” He pauses and smiles, “Technology is like a wild horse. Powerful and capable -- if you can tame it! I am a technology whisperer and I break technology down into digestible bytes so that you become the master. After only a few sessions, you will be able to approach technology with confidence. My name is Paul Simon, which software program is throwing you off?”

Paul’s word picture, aka elevator pitch, is compelling and immediately creates curiosity. Create your own Elevator Pitch! Get started by making a list of words that describe what you sell or the services you provide. Cross out boring words and keep the verbs on your list.

Research your target market and identify the challenges they face. List a few descriptive words that clearly paint a picture of the challenges faced by your potential clients. Match each challenge with the solution(s) that your product offering provides.

Close your eyes and imagine afamous actor playing you in a movie about your business. Which actor would play you? If your business model was depicted in a silent movie, how would it appear? Focus on the scenes showing how you would help your clients solve their business problems. Remember as you deliver your elevator pitch that the listener will be mentally asking, "What's in it for me?" Create a word picture that paints a picture of how your solution addresses your client’s challenges.

Make a list of all of the deliverables that you provide to your clients. Take your time and review each deliverable, looking for trends and patterns.You need to effectively communicate how your company is different and why you have an advantage over the competition. For example, do you have a better distributionchannel, strategic partners, or outstanding service quality?

Crafting an elevator pitch takes dedication and practice. An elevator pitch it is the single most important part of every memorable introduction. It should be thought provoking, concise, interesting, and descriptive. Stand out! Distinguish yourself from your competitors and stimulate genuine curiosity in the mind of the receiver.

Dr. Wesley Carter authors a weekly business column in The Charlotte Post newspaper.Carter holds a Doctor of Management (DM) degree from the University of Phoenix with an emphasis in Organizational Leadership, an MBA from the Babcock Graduate School of Management at Wake Forest University, and a B.A in Management from the University of North Carolina at Charlotte.This information may not be copied or shared without permission from Dr. Wesley Carter. If you have a question, email or call (704) 992-1211.

Getting the Next Appointment

By Dr. Wesley Carter

There are few things more frustrating that trying to get an appointment with a resistant prospect. Even when you have conducted your research and presented yourself professionally, some prospects are still resistant to being pinned down for a meeting. Sometimes a conversation goes awry because the prospect simply does see any value in meeting with you or, conversely, talks so much that you cannot get a word in.

Sales success is dependent upon the ability to build rapport and trust with prospects. But first, you must get the prospect’s attention. Maybe you have successfully met with a prospect and struggled with getting the next meeting. Or perhaps, you have difficulty getting the first appointment with a particularly difficult prospect. Either way, it is time to commit to a set of strategic scripts designed to help you get in front of your prospects.

Always attempt to schedule your next appointmentbefore the close of the first meeting. If you are attempting to schedule a first appointment, it is better to have the conversation face-to-face. Try to avoid asking a yes or no question when requesting an appointment. Instead, say, “Would earlier in the week work better than later in the week for us to get together? Morning or afternoon?”

How a prospect responds controls the next step. Learn to recognize a soft decline. Soft decline responses range from “my secretary manages my calendar” to “I don’t have my calendar with me” or “Let’s touch base in a couple of months when things calm down.” Each response dictates a different appointment strategy.

If the prospect responds by claiming their secretary controls their calendar, you will need to listen carefully for the unspoken message. If the prospect notifies you that their secretary will be contacting you to schedule the next appointment, chances are, they are at least committed to the next appointment. However, if the prospect simply states that their secretary manages their calendar and does not offer a specific commitment to arrange another appointment, they are giving you a soft decline.

This is when you need to step up and tactfully take charge. Say, “I can only imagine how busy you must be. If you will give me your secretary’s name and phone number, I will gladly take responsibility for arranging for us to get together. Will you please ask her to expect my call?”

Now, be quiet and allow the prospect to respond. If they are genuinely interested in meeting with you again, the secretary’s information will be forth coming. However, if the prospect is resistant to providing you the requested information, you have not successfully convinced the prospect of your value proposition. In this case, you need to uncover the reason for the resistance. You may need to go back and tweak your value proposition or competitive advantage.

Sometimes you may ask for a meeting only to hear, “I do not have my calendar with me.” It is unlikely that a prospect really does not have a calendar available because most cell phones include a calendaring function. However, it is courteous to give them the benefit of the doubt. Offer a solution, “If you will give me your contact information, I will email or call you with a couple of dates and times to connect. Would morning or afternoon work best for you?” In this situation, try to make it as easy as possible for the prospect. If the prospect honestly does not carry an electronic calendar with them and they are open to getting together, they will accommodate your suggestion.

Every salesperson has been put off with the old, “Call me in a couple of months when things calm down at work.” If left untended, it is unlikely that the prospect is actually going to meet with you in two months. Pushing to get a meeting scheduled despite their request to wait two months could backfire. Instead, research the prospect to learn about professional affiliations, social roles, or noteworthy events.

Begin to identify articles, studies, events, or other information that might appeal to the prospect’s interests. Attach a handwritten note to the information and mail new information to the client every two weeks until you get closer to the end of the two month moratorium.

When you get an appointment confirmed, be sure to follow up with a handwritten note to thank the prospect for their time in advance. Include a recap of the appointment specifics such as the time, date, objective, and location. Do not forget to include your contact information. Now, go get’em!

Promoting Your Business

Professor Wesley Carter

Promoting your business can be quite expensive. But, there are a multitude of freebies available to enterprising small business owners. With all the fuss about the value of social media as an advertising tool, many of the traditional advertising channels have been forgotten. In this economy, you cannot afford to overlook any marketing opportunities, especially free ones. Take advantage of press releases, business contests, directories, City Council meetings, County Commissioner meetings, speaking engagements, and the age-old name tag. Before you begin, assign a specific tactic code to each strategy and track your success.

Press Releases are handy for announcing new products, new employees, new capabilities, business earnings, and other important events. Create a compelling Press Release and submit to newspapers, television stations, radio stations, and other media outlets for free promotion. Interestingly enough, Press Releases often have greater coverage than paid advertising.

Entering Business Contests is an excellent way to generate attention for your small business. Sponsored by municipalities or corporations, small business contests provide entrepreneurs with money, publicity, and professional services based on specific criteria. Intuit, Apple, American Express, and Ernst & Young are just a few of the companies that regularly sponsor small business contests.

Including your company information in business directories enables interested parties to access your information quickly. While some will feature your business information for a fee, others will include your information at no cost to you. Some business directories include company profiles and it is good investment for directories that will be accessed by individuals that are likely to purchase your services.

There are designated dates when the City Council and County Commissioners will allow members of the community to speak. Each speaker typically has 3 minutes to speak and there is no cost. If you have something interesting to report about your business, this is an excellent vehicle to get the word out. Be sure to sign up for the meetings that are televised so your message will play over and over on public television. Slots fill fast so call today and register for the next televised meeting. Contact the City Clerk’s office to get on the calendar to speak at the City Council Meeting. Contact the County Clerk’s office to inquire about speaking at County Commissioners’ meeting.

Bartering is a great way to access more expensive marketing channels. Arrange to trade services instead of cash for advertising. Trade your company’s services for marketing services. Be creative and make a reasonable offer.

How many times have you walked past a business owner with an embarrassed smile because you forgot their name? Do not let it happen to you! Wearing a name tag turns you into a walking advertisement for your business. At less than $15, you name tag will pay for itself every time someone glances at it and addresses you by name.

Contact universities in your market segment and offer to be a guest speaker. Not only will you get a chance to tell others about your company, but you may be able to recruit some students looking for intern opportunities. You may be able to negotiate with a department chair to allow students to earn a grade for developing a solution to one of your company’s problems.

Grab the family camcorder and record short vignettes introducing your products and services to potential customers. Post your mini-commercials on You Tube and direct everyone to your link. Be sure to include information on how to purchase your products or services.

Creative promotional strategies remove limitations of small or nonexistent advertising budget. Repeat successful tactics and continue to explore other low-cost promotional strategies. Good luck and good selling!

Transforming Conferences into Opportunities

By Dr. Wesley Carter

If you are like most conference attendees, you spend the last few days before a conference trying to finish everything on your desk only to arrive at the conference exhausted. However, if you were to start planning a little earlier you would be able to execute a few conference planning strategies to maximize the value derived from the experience. Break the cycle for your next conference and plan to arrive rested and prepared to transform the conference into opportunity. Your objective should be to net at least twice the investment in the conference, in sales.

Preplanning and forethought will enable you to maximize your effectiveness at conferences. Execute a few strategic conference tactics to exponentially increase your effectiveness at the event. A conference may be one of the few times when you can get access to targeted participants without the barriers of secretaries or interruptions. Your effectiveness at a conference directly correlates to the degree to which you plan your conference activities.

Order at least 500 business cards and prepare to exchange them with potential clients or contacts. If possible, order business cards with a matte finish and a blank back to make it easier for your contacts to make notes on the back of your business card.

Prepare an elevator pitch, aka a powerful business introduction, and practice it until you sound natural. An elevator pitch is a term that refers to the picture that your words invoke in the minds of the people that you meet. An elevator pitch it is the single most important part of every memorable introduction. It should be thought provoking, concise, interesting, and descriptive.

Thoroughly review the agenda and read up on the topics and presenters. This information will come in handy should you get an opportunity to actually meet the presenters. Review the web pages and latest news on the major sponsors and exhibitors at the conference. Specifically, look for connections between the organizations and your company. Use this information to identify the list of people that you intend to connect with.

Order a name badge with your name and company logo. Wearing a name badge at the conference is an excellent means of branding yourself at the conference. Wearing a name badge also relieves the pressure from others having to remember your name or your company. Do not miss any opportunities because someone could not remember your name and was too embarrassed to speak to you.

Selectively target the key individuals that you plan to connect with and create a “hit list” to help you use your time effectively. Do your research and learn as much as possible about each person on your hit list. Google each individual on your hit list and try to find a picture so you will recognize them.

Send an email to others in your network and schedule a time to connect while at the conference. Determine if anyone in your network has access to the individuals on your hit list. If so, ask for an introduction. In advance, warn your friends that you will not be hanging out with them because you will be “working” the event.