Is there a small business owner who doesn’t have a hard time connecting with the right customers faster and more consistently?Standing out from the crowd with limited marketing resources is a huge challenge for service-oriented business owners in highly competitive markets.
Changing marketing tactics emphasizing social media and Internet advertising offer the promise that we will be able to cast a larger net and reach a much wider audience with a few keystrokes. If it were so easy!
If getting and keeping loyal customers are the goals of your business, then the first point of contact needs to be delivered in a way that begins to establish value, credibility, trust, and authenticity. Your answer to the question “What do you do?” is usually the first step. Consider your answer, and the business it leads to, as a component of the critical path of your business strategy.
Unfortunately, the “What do you do?” The response of many business owners is an elevator pitch that comes as either a sales sound bite or a completely forgettable 2-minute continuous sentence beginning with “What I do is… (blah, blah, blah) … “By definition, these are designed to ‘launch’ a sale, and people don’t like being launched.
The important thing to keep in mind is that all loyal customers and strategic partnerships start with a compelling “elevator statement.”which begins to establish value, credibility, trust and authenticity. The key question is whether you have:
- An elevator pitch that tends to alienate people?
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- a values-based statement that sets you apart and begins to establish value, credibility, trust, and authenticity?
If you use the same 15 or 30 second speech across the board and generate more than your fair share of blank stars when you deliver it, you may be guilty of “presenting” and failing to engage your audience.
So what are the first steps in delivering a more compelling statement that packs more “wow” and attracts the right partners and prospects?Here is a checklist of five key questions to ask yourself:
1. Are you “launching” or are you participating in the first step of a win-win relationship?
Think of your first interaction with prospects or potential strategic partners as a watershed event. Their decision to invest time and interest in you is largely dictated by how you communicate value, credibility, and trust in that first minute. Poor performance with an elevator pitch that misses the mark or is perceived as insincere will guarantee missed opportunities.
2. How many different prospect or partner profiles have you defined for your various products and services?
Value is in the eye of the beholder. Consider segmenting the different target prospects and strategic partners, and then align them with the various products and services you offer. Each segment is an opportunity to develop a specific value statement that will resonate with them in a way that a generic statement will not.
3. What is the “What’s in it for me?” (WIIFM) and “Why should I care?” (WSIC) for each target profile?
When you present your “What do you do?” answer, WIIFM and WSIC are always in the mind of their audience. If you don’t quickly answer those underlying questions, you’ll know because of the white stars that appear. The critical action is to understand the distinction between the features, benefits, and values of your products and services. Remember, it’s not what you do; is the benefit value of what your customer buys that’s the key
4. Are your statements designed to position your most valuable asset: you?
If your value statement is a critical path component of your business success strategy, then it’s not something you want to leave to chance. Make it specific to the target audience, the problems they have and that you solve, the experience you provide, and the value your customers get from you. Remember, as a small business owner, you are branding yourself as the person to do business with.
5. Does your value statement pass the ‘giggle test’?
Practice your statement in the mirror and ask yourself how you would respond. Are you confidant? What is your body language saying that overrides the words you are speaking? Are you sincere in your tone of voice and manner? Does your energy level rise when you talk about the benefits and value of your service? Remember, be yourself and show your passion for what you do. That will always trump an insincere “pitch” performance.
Consider the impact of missed opportunities as a result of an elevator pitch that not only fails to connect, but can also alienate people. Going from launching to offering value and starting a relationship will generate new business and add directly to the bottom line.