Is the Elevator Pitch Dead?

For more than a decade now, small business owners and salespeople have been out there networking with elevator pitches.

Do you know the origin of that term?

In the time that it takes a fast moving elevator to travel from the lobby directly to the top of the city’s tallest building — you have that much time to “pitch” your fellow elevator rider a concept or your services.

I first came upon the term at an IdeaPark I.T. networking event in Yaletown (Vancouver) where I won their Elevator Pitch contest! It’s “the pitch” that in just seconds is to grab your listeners’, and in some cases the attention of an angel investor, to get you through to the next stage of the sales process.

Unfortunately, in Victoria we lack the 25+ story buildings of Vancouver — so how is a gal or guy to make a 90 second Elevator Pitch?

I ask… is the Elevator Pitch dead in Victoria?

Let’s examine the word “Pitch.” It’s a sales term. For all the salespeople out there — my hat goes off to you – selling is hard! However, I learned a couple decades ago when a little known start-up mattress retailer, who was about to take the nation by storm (sing the jingle…), that people don’t buy products or services — they buy solutions to their problems.

Plus, most people detest a pushy, hard-closing salesperson. Am I right? And what could be worse than being trapped in an elevator with one?!?

I’ve only been living in Victoria since the end of May 2015, but I’ve learned some great lessons already about doing business Victoria-Style! The majority of business people that I’ve encountered here are super friendly, and they are interested in hearing your story more than details about what you do.

You can call this a prediction or you can call it an observation… I say that elevator pitches are dead.

Here are a couple strategies to change up how you address someone about what you do for a living…

You are more than your company name

The true conversation starter that may reel in your next big client isn’t what it used to be one or two decades ago.

The next time you meet someone new, especially in a one-on-one situation (like in an elevator), or at a networking event (addressing a small or large group), instead of using your corporate entity name or your job title/position (any of that information found on your business card) tell them a story about how you help your customers to conquer some of our society’s biggest challenges i.e. how to save time, money or energy. THAT will pique their interest and have them asking for more!

Create a cause and effect statement

Going back to what I previously stated about people buying solutions… When you meet a new potential client, employ the two ears and one mouth philosophy of business networking and get them talking first so that you can listen for their company’s pains, regular challenges, or current uphill battles.

Sketch them a quick before and after story using an example from one of your client interactions. Tell them how you took them through the process without name dropping or even stating much about yourself or your company name.

Gift Tip 1: You may need to have a few of these “testimonials” tucked away in your virtual back pocket to share in a variety of situations, like networking or even in the grocery or hardware store lineup. You never know who you will meet and who they influence!

Gift Tip 2: Avoid using the iWord. In business networking avoid using the “I” word as much as possible. Yes, I’m telling you to stop talking about yourself! If you can avoid the iWord 100% that is a most desired outcome. Talk about “them” and use any other pronoun or word other than the iWord to reel in potential referral sources and/or clients.

In your next encounter with a potential customer in an enclosed space, try to fascinate them instead of pitch them. If you’d like to learn more about how to create your own Fascination Declaration, please check out the upcoming two-hour GoodToGreat Public Speaking Training workshop coming up at the Greater Victoria Chamber of Commerce during Chamber Week (Feb 15 to 19). Save the Date! Tuesday, February 16th from 2pm to 4pm.

Anna Coleshaw-Echols is the founder and Chief Fear Slayer of GoodToGreat Public Speaking Training. (www.GoodToGreatPS.com)