Thursday, May 16, 2013

Honing the Elevator Pitch for Analyst Presentations, Media Interviews and More

Guest post from Tom Gable, founder and CEO of San Diego IPREX partner firm, Gable PR

Whether working with a CEO who loves to spin long tales about his company and his successes, a Ph.D/M.D. who knows too much, or a startup or anyone else who is new to trying to connect with financial, media and other audiences, we’ve found a good starting point in the communications process is drafting a classic elevator pitch.

The challenge is writing short copy, especially for engineers and scientists who are used to citing published articles, case histories and other resources ad infinitum. The long approach is perfect for pitching peers and colleagues, less so for connecting with analysts, the media and non-industry audiences. Thus, the following was created by Gable PR as a starting point for honing a one to two minute pitch (also referred to as the cocktail party pitch) to grab the attention of your audience in the shortest amount of time and set the stage for next steps.

TAG LINE/SOUND BITE – The opener – an instant picture or quick summation of your positioning.  What you do, what you stand for, to what effect and why it’s important. One sentence is best. Practice with people who don’t know what you do and keep honing this one sentence (two at the most) until it rings like Shakespeare.

PROBLEM, SITUATION ANALYSIS – What exists – the pain or problem you solve?

DYNAMICS AND OPPORTUNITY – Quick historical overview of how it got to this point, how the challenge has been addressed, what is the sweet spot for your company or organization (keep it to three important points, no more!).

WHAT (solving the problem) – Your company (or organization) has been working X years to plan for and develop D, E and F to solve the problem, take advantage of the market opportunity and grow and succeed over the next Y years.

OVERVIEW FROM 30,000 FEET – We have done it: the macro view, the big picture of how your great concept all comes together and grows market share, sales, traffic, profits, benefits the community, whatever – the BIG PICTURE vision of future success rather than technical details and features.

SO WHAT (benefits) – You will succeed because of the creative planning, results and ultimate value you deliver.  Create a mental picture of the benefits to science, patients, customers, the world. If there is a good case history, cite the proof of principle in a sentence or two. Do it in two sentences and you get a Pulitzer Prize (plus the desired result).

THE TEAM – The team includes executives with national credentials in A, B and C. It has a combined ZZ years in the industry, has built MM, helped YY other companies or institutions grow and knows the market and how to provide an expanding array of products and services to help it succeed (make it relevant to the big picture).

THE CLOSE (call to action on the elevator) – “We have the people, the plan and the commitment to succeed in a rapidly growing new market.  I can provide incredible detail that I believe will convince you to … (invest, interview, buy, etc.).  How about a follow up meeting?  Where would you like to meet?  What else can I provide?”

Ask questions that will take it to the next step!

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