The Elevator Pitch – Why It’s Killing Your Sales
The elevator pitch is something widely taught in sales; you’re encouraged to have it down pat, with the promise of closing sales easier.
However, in reality – that’s not the case.
In fact, the elevator pitch is actually hurting your sales efforts.
In this article, we’ll look at what an elevator pitch is, why it’s hurting your sales efforts, and what you should do instead to close more sales on a consistent basis.
What Is An Elevator Pitch?
An elevator pitch is a quick and brief persuasive speech, that you can use to generate interest about your company, product or service.
It’s meant to last approximately 20-30 seconds; the general ride of an elevator (hence the name).
Sales Professionals and Business Owners have been encouraged to craft and perfect their elevator pitch, with the promise that it can drive more business.
We’ll explain why this isn’t the case.
The Elevator Pitch – Why It’s Killing Your Sales
Contrary to a lot of what is taught out there; we believe the elevator pitch actually hurts your sales efforts.
Generally, there are three reasons why.
- It puts potential clients on edge of being sold to
- Premature presentation
- You’re positioned as a commodity, rather than a trusted advisor
The Elevator Pitch Comes Across As Salesy
The first reason as to why the elevator pitch doesn’t work, is because once you start talking about your product or service, people feel like they’re being sold to.
If your introduction to a person is all about you, your company or product or service, people automatically will put up a barrier.
They feel you’re only engaging them because you have an agenda.
And that agenda is to make them part ways with the money in their wallet.
People regret buyer’s remorse, and don’t want to be put in a position where they feel they’re pushed into a corner to make a buying decision.
Once you start talking about your product or service, you’ve positioned the conversation to be all about you.
Because people’s interests are about themselves; you’ve turned them off by focusing the attention of your conversation about something they don’t care for.
This is the first critical issue with the elevator pitch.
As per our article in Entrepreneur; one of the worst things you can do to harm your sales efforts, is something we call premature presentation.
Premature presentation is when you present your company, product or service, prior to knowing about their pain points, desires and specific needs.
Most Sales Professionals and Business Owners that struggle with sales, do so because they don’t prescribe their product or service.
They use an elevator pitch type format; meaning they spray and pray.
They spray out information about their product or service, and then pray that they’ll get enough interest for the person to want to buy.
This is terribly flawed.
What right have I got to prescribe an offer, if I don’t know their pain points or ailments?
If you went to a Medical Specialist, and then started to prescribe drugs or treatments before knowing what issues they were facing – would you trust them?
Of course, you wouldn’t.
However, for some reason, this mindset is taught to Sales Professionals and Business Owners all around the world in the form of an elevator pitch.
The elevator pitch breaks trust rather than builds it.
Don’t Be A Commodity
Finally, our last issue with using an elevator pitch, is that it positions you as a commodity.
A commodity is something that someone can get almost anywhere.
It generally has low value and is usually positioned using push marketing strategies and tactics.
When you’re a commodity; you position yourself as someone who needs to chase them for their money.
It takes a lot more effort to build trust, and a lot more convincing for them to buy.
Instead, we recommend you position yourself as a trusted advisor.
A trusted advisor is someone who doesn’t use an elevator pitch.
Instead – they build trust, rapport, and then ask excellent deep diving questions to learn about a person’s situation, pain points, and ideal outcome.
Read on to learn how you can do this, and we’ve also attached a related article below to help you understand this mindset and concept.
Related article: How To Position Yourself As A Trusted Advisor
Instead Of The Elevator Pitch – Do This Instead
The overall problem with the elevator pitch, is that it is back to front.
You present your offer first, and then hope that they’ll be interested in learning more and then make a buying decision.
Instead – we recommend using the system we prescribe in our flagship program – The 5% Sales Blueprint.
The 5% Sales Blueprint is focused on using a system; or sales process that helps you build trust, learn their deep pain points and issues, and then know exactly how to close them with ease by helping them sell themselves.
Instead of prematurely presenting and using an outdated elevator pitch, use this model instead:
- Build rapport
- Qualify your potential client
- Create a pre-frame; so that you set expectations up front
- Ask questions to deep dive into their pain
- Learn their desired outcomes
- Discuss money – so it doesn’t become an issue later
- Present your offer, based on the information they’ve given you
- Handle any areas of concern
This model is very powerful, because they give you the information you need to sell them, rather than using an elevator pitch and hoping something sticks.
We’re strong believers is helping people sell themselves, rather than you having to do all the selling.
When you’re doing the selling; they’ll either believe you – or they may not.
That’s like going to the casino and playing roulette; the odds are 50/50.
That isn’t a recipe for sales success.
Instead, when you know how to make them sell themselves; then it’s a lot easier to sell them your product or service.
This is because people trust their own thoughts, answers, and belief systems.
If you know how to get people to deep dive into their own problems and aspirations – selling becomes a whole lot easier.
Ditch the elevator pitch; and use The 5% Sales Blueprint methodology instead.
Learn more: The 5% Sales Blueprint
Final Thoughts On The Elevator Pitch
The elevator pitch is an outdated model; designed to do exactly that – pitch on an elevator.
It positions you as a commodity and breaks one of the biggest commands of successful selling – which is to avoid premature presentation.
Instead of trying to sell to everyone; present your offer only to people who would benefit from it.
This way you’ll position yourself as a trusted advisor, rather than just another salesperson.
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