Sales Elevator Pitch – Did you know?

elevator pitch

How to Make a One-Minute Elevator Pitch that works

Do you know what the biggest, most expensive mistake people make during networking events is? It’s assuming that you’re there to sell to the people in that room.

As I noted in last week’s blog post, most of the people in networking events are NOT there to buy. They’re there to make money, not spend it.  They want to build their business and they are looking for a silver bullet.  This week, I am going to share another statistic with you.  68% of people who are given a referral feel obligated to give business back.  So, think about giving to get and building relationships when networking.

That doesn’t mean you CAN’T sell to the people in your networking groups, but you’ll get much better results if, instead of offering products and services to people who aren’t there to make a purchase, you offer them something they DO want: a referral partnership with someone who shares their target audience.

When you try to sell to the people in the networking event, you’re fishing without bait.

But if you can get people who have the same ideal client as you to recommend you to their followers, friends, peers and client base, you get access to a large pool of leads that will be much warmer and more willing to buy from you, because you were endorsed by someone they trust.

Of course, it isn’t as simple as saying “let’s be referral partners” and expecting them to start sending you clients.

You need to let them know who you serve, how you serve them, and why they should send people to you – and you need to do it in a way that makes you stand out from all the other people who want access to their valued client base.

Here’s a one-minute elevator pitch that gets potential referral partners to ASK YOU if you want to exchange referrals:

Last week, I gave you a formula for a sixty-second presentation that gets people interested in you and your offer.

In the next few paragraphs, I’ll give you an outline for a presentation that will make you stand out as an expert in your industry, so not only will people be more receptive when you approach them, but they’ll actually approach you to see if you’re interested in forming a referral partnership.

The “Did you know” elevator pitch

This type of one-minute elevator pitch is known as a “Did you know?” presentation, because it’s built around that question.

Here’s how to give an attention-catching “Did you know?” speech that brings referral partners to you.  By the way this elevator approach will work well at social networking the question is designed to get people answer in an interactive conversation – “no I didn’t” and invite you answer.  You want to have the listeners to your question ready to hear the rest of your answer.

Step 1: State your name, position and company.

As with the basic version of your sixty-second commercial, start by telling them your name, what company you work with, and your position in the company.

This adds the credibility of your company and rank to your name. “Sarah Johnson, CEO of ExampleBusiness, LLC” sounds more like a smart, experienced authority than just “Sarah Johnson”.

Step 2: Did you know…

Once you’ve introduced yourself, catch your audience’s attention by giving them an interesting fact that relates to your business or industry.

For the purpose of this article, I’ll use the example of a business coach who helps business owners to get more referrals and referral partnerships at networking events.

This person might say, “Did you know that, on average, business owners lose over twenty-four thousand dollars a year by trying to sell directly to members of their networking groups?”

If you were at a networking event with a pocket full of business cards and high hopes of selling to the people who gave them to you, that would probably get your attention!

Step 3: Tell them how your product or service relates to this fact, and how it benefits them.

Let’s continue the example above. The presentation expert might go on to say:

“People spend hours trying to sell to group members who aren’t there to buy anything, by talking about all the wrong things, only to lose what few leads they get because they didn’t know how to build the relationship.

“It isn’t the other group members you want to sell to – it’s the dozens of clients they can connect you with!

“I help business owners to find referral partners who are in touch with hundreds of their ideal clients, to say the right things to get those partners’ attention, and to form partnerships that bring each partner tens of thousands of dollars each year.

“I recently worked with a woman named Rose Parker, who’s given me permission to tell her story here. She’d been attending networking events faithfully each week for a year, but had made less than five hundred dollars from all that time and effort.

“After three weeks of working with me, she’d received three referrals worth two thousand dollars each. When we talked two weeks ago, that number had grown to twelve referrals with a total value of twenty-four thousand dollars.”

 Step 4: Give a specific, actionable call to action.

If you want people to take you up on an offer, you must NOT leave them guessing about how to take the next step.

Tell them exactly who you want to work with, and what action they should take in order to get started.

For example, “If you’re a business owner who consistently attends networking events, but seldom makes sales or gets referral partners from them, and you want to make at least ten thousand additional dollars this year, come talk to me after this presentation so we can schedule a complimentary strategy session and see if we’re a good fit.”

Step 5: Restate your name and company, and give them a memory hook.

Now that you’ve given them a reason to pay attention to you, it’s time to make sure they remember who you are when it’s time for them to seek you out.

At the end of the speech, restate your name and company, and if you have a good tagline or memory hook, say it.

The memory hook should be funny, touching, catchy, or all of the above, but the two most important aspects are that it tells people how you improve their lives, and – you probably guessed it – it’s memorable.

Don’t forget to include the “4 ‘P’s of Networking Presentations” in your one-minute elevator pitch.

Last week, I told you about four ‘P’s that most people think of when they hear about a quartet of ‘P’ words: Price, Product, Promotion, and Place.

Elevator pitch 4 P’s

But when you’re making a presentation in a networking group, there are four other ‘P’s that you want to include in your elevator pitch:

  1. The problem you solve.

In the example presentation, the speaker stated that people lose over $24,000 each year because they use the wrong words to sell to the wrong people, and they don’t know how to form lucrative referral partnerships.

  1. The person you helped.

If you have permission from one of your clients, whether a company or a person, tell the group how you helped them.

Including specifics like dollar amounts and timeframes lets people see exactly what your clients can expect, and makes your value seem more real and tangible to your viewers.

If you don’t have permission from any of your clients to tell their stories, you can give a generic description of how you help people instead.

  1. The process you followed.

Nobody likes to pay for the same thing twice. To help set yourself apart from other solutions in your field that people may have already tried or rejected, give them a glimpse of the process you used to help your client, so they can see how what you do is different.

  1. The prospect you’re looking for.

Nobody knows if they’re in touch with your ideal client if they don’t know who that ideal client is.

Before you get on stage to make your presentation, know exactly who you serve and how, and make sure you can describe them clearly.

Where to practice your evaluator pitch?

Now you have your one-minute elevator pitch. It’s time for your future referral partners to hear it!

Now that you know how to stand out and attract referral partners, your next step is to put yourself in a position where you can give that presentation to people who are looking to form mutually lucrative referral partnerships.

In BNI, we give everyone a chance to tell the group what they do and who they serve, so every potential referral partner in the room knows how you can help their clients.

We also actively encourage everyone to send customers to their fellow members. If you want to help more clients and fellow business owners, and to increase your income and your impact on the world, we hope to see you at our next meeting. We encourage non members of BNI to visit many of our chapters and see which group might be a good fit for them.  Visitors are free to visit any chapter two times without joining – why not practice your new elevator pitch at a few of our chapters. We are looking forward to seeing you soon.

Click here to find a BNI chapter near you!

Image Credit – Adobe Stock

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Trackbacks & Pingbacks

  1. […] we’ve explored three types of one-minute sales pitches: the basic presentation formula, the “did you know?” speech that’s designed to showcase your expertise, and the “who do you know?” version that […]

  2. […] couple weeks, I taught you how to give a compelling one-minute sales presentation, and I gave you a “did you know…” that will impress potential clients and referral partners with your […]

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