5
need to show them why they should PAY ATTENTION.
In a 5-minute Pitch time is clearly limited, so you need to be able to CUT TO THE CHASE quickly.
In marketing the same rule applies. Your prospective clients will not give you hours or even minutes of their time. You have only SECONDS in which to CAPTURE THEIR ATTENTION and INTEREST.
With that in mind let’s look at the KEY QUESTIONS you need to be able to answer to deliver the PERFECT PITCH!
5 Questions you need to answer to design your PITCH.
1. What CUSTOMER PROBLEM (need) do you solve?
With this one question the investor can determine:
• How BIG is the PROBLEM?
• Is there a real NEED for this product or service?
• Are there enough people looking for a solution (size of market?)
The first question in the mind of an investor is not who are you, what do you do, or where are you located. Its, WHAT PROBLEM DO YOU SOLVE? The same is true of your prospective customers.
The prospective buyer doesn’t want you to work through your credentials, they simply want to know can you help them solve their problem. Your job then is to CLEARLY articulate the problem you solve.
Notice I said PROBLEM – singular! It’s true most consultants solve more than ONE problem. But when you’re PITCHING or
MARKETING if you try to communicate ALL the problems you solve, you’re unlikely to create more interest. In fact, you will more likely lose their interest. When it comes to pitch as with marketing, less is more!
The irony is the more problems you promote you can solve, the less ATTENTION you will gain! If you are uncertain of the problem you solve, then chances are your PITCH will fail at the first hurdle.
2. What’s so special about you or your approach?
Logically if an investor is satisfied that you solve a REAL problem and there are sufficient people seeking a solution to build a scalable business, their next question is Why You, Why This, Why Now?
In other words what makes this different or unique? This is what is commonly referred to as your ELEVATOR PITCH and it needs to be CLEAR and CONCISE.
If you can’t articulate a point of difference, or if the investor can’t grasp your concept quickly, they will assume the customer won’t understand your pitch either. Whether you are pitching for investment or marketing your consultancy a solid ELEVATOR PITCH is important.
Your elevator pitch needs to show the GAP that your product or service fills. That means you need to understand who your competitors are and what you bring to the table that is different.
When it comes to your Unique Selling Proposition (USP), the investor is looking to see what is your SECRET SAUCE? What is it that sets you apart and makes your offering more compelling to consumers than what is currently available?