The Incredible Power of the Elevator Speech

Director's Note: Dave regularly contributes to Fabricator magazine. I thought this column is a great "must read" for all NOMMA's leadership.

By Dave Kahle


“Why should someone spend time with you?” That was the question I asked the six sales people who were the subjects of an intense week-long training session.
The response? Blank stares. Some uncomfortable fidgeting. Nothing anywhere close to a coherent, persuasive response.
That experience made me realize the need for what I call a “value-added proposition,” and what many people refer to as an “elevator speech.” It is a well-thought-out, meticulously prepared, and memorized set of ideas that ultimately answer the question above. It should exist in several different versions:
1. There should be a one-page (250 words or so) description of
* who you are
* what you do
* why your customers and prospects should care.
2. That should be reduced to a 30 word version that should be memorized by everyone who has contact with the customer.
3. Finally, that should be further reduced to a four-to-eight word version that can accompany every communication, from web site advertising to face-to-face interactions.
Why this is important
“Five minutes or it’s free.” That was the banner hanging over the fast food restaurant near my house. I noticed it as I drove past one day. Interesting. In a mini-environment of intense competition (there must be a dozen fast-food options within a mile of this road) they chose to focus on one aspect of their offering – speed – and turn it into a “value-added proposition.” In a world of other options for the customer, they chose to take their strength, turn it into a benefit for the customer, and boil that down to say to the customer, “Buy it from us. We’ll guarantee quick service. “
It had its desired impact. I noticed the banner, and decided to stop in for breakfast. The waitress took my order, noted the time on the order pad, and handed me a stop watch! I took up the challenge, clicked it on, and waited to see if they would perform. The order arrived within five minutes. I noticed the waitress look at her watch and note the delivery time on the order pad.
Let’s consider what we can learn from this experience. First, the value-added proposition consolidates some of the strengths of the organization, and turns them into benefits for the customer base. Then, it translates those benefits into a “proposition” which challenges the customer to become involved. It reaches out into the world and says “Consider me. Here’s why.” It serves, then, as a proactive way to interest and attract potential customers.
Just as importantly, it helps refine who you are as an organization. You will become who you tell people that you are. For example, I suspect that the restaurant did not have a quantity of stop watches in their inventory prior to deciding to toss “Five minutes or it’s free” into the world. I suspect that the order forms were modified to accommodate the claim, that the wait staff was trained in the processes to implement it, that some items came off the menu and others were added, and that there were some cooks who don’t work there any more because of their inability to be who the restaurant said they were.
Once you say that you provide “outstanding customer service,” or “the highest quality products” for example, you have to back that up. You must become who you say you are, and actually do what you claim you do.
The value-added proposition, then, brings with it tremendous power to focus your image to your customer base and, at the same time, organize your internal operations to deliver what you say you will.
From the point of view of the sales force, the value-added proposition gives them a focal point -- a place to hang their claim for uniqueness. But it also gives them a wedge into the doors of the prospect, and an appropriate topic of conversation with every contact.
That’s why the 30-word version should be memorized and practiced until it can be delivered accurately, fluently and persuasively.
How to do it
The creation of a value-added proposition can be much more significant than it may look at first glance. Once you understand the power of this set of words to attract customers, equip sales people, and shape operations, you will realize that this can be a “bet the business on this” strategic initiative.
Get it wrong, and your organization’s very survival may be in jeopardy. Get it right, and it can provide fuel for your growth for the foreseeable future.
So, it ought to be treated as a major strategic initiative in your organization, and given the allotment of resources that accompany such efforts.
Gather your best people for a brainstorming session. Capture the output, and bring it to a more analytical group to refine. Put it in the hands of your best communicators to create the three versions mentioned above.
Then, test it before you commit to it. Put it in the hands of some sales people and gather their comments. Float it by some of your customers whose honest opinion you expect. Run it through the search engine optimization folks.
Refine it until you are ready to live with it.
Then, publish the short version in every conceivable place. On business cards, letterhead, voice mail messages, web sites, email signatures, etc.
Bring the sales people in, require they memorize the 30-word version, and train them in persuasively presenting it. Lots of role-play and practice here. Do the same with anyone who has regular customer contact.
Finally, publish the one-page version. Make it into a hard copy leave-behind for the sales force. Publish it on your web site. Hand it to every vendor.
Distribute it to everyone who has an interest.
Then, watch as it begins to flow into every aspect of your business, stimulating and shaping your growth.

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If you are interested in digging deeper into this subject, you may want to purchase, “How to Sell Anything to Anyone Anytime.”
If you are a subscriber to The Sales Resource Center ™ , consider Cluster CL-72: How to market your small business on-line, Cluster CL-46; Four part elevator speech, and Pod-47: How to make a more effective first call.


About the Author
Dave Kahle has trained tens of thousands of distributor and B2B sales people and sales managers to be more effective in the 21st Century economy. He’s authorednine books, and presented in 47 states and seven countries. Sign up for his weekly Ezine . For a limited time, you can purchase his latest book, How to Sell Anything to Anyone Anytime, and receive $534 in FREE bonuses.

Find the hidden takeaways

By Todd Daniel, NOMMA Executive Director

In this new economy, I keep hearing the expression “gaining an edge.” The idea is to have one more “plus” in your arsenal to win a job. Can you make yourself a little more efficient to get your bids down a few dollars? Is there one more “value added” service you can offer your customer? Do you have just a little more knowledge than someone else? Can you woo your client with your superior product knowledge? Do you know how to negotiate and upsell to get the best price for your product?

I know just the place where you can obtain the “edge.” It’s called your industry trade association. Imagine tapping into a 53-year-old bastion of information with an online knowledgebase,
14 hours of FREE online education
videos, education conferences, and
opportunities for networking. If you take advantage of the printed and electronic resources of NOMMA, I assure you that you will obtain your edge.

But better yet, the real power comes from what you learn at education sessions and workshops.

And then there is the most powerful information source of all — your hundreds of fellow professionals around the country. You can tap into this resource through our annual METALfab conference, NEF events, and electronically via our ListServ,
webinars, and phone conferences.

All combined, I call this
“NOMMA Power,” and it’s this power that gives you the edge.

A ‘NOMMA Power’ charge

The mystery of NOMMA Power
is that you never know when you’ll
receive it. A METALfab class instructor could give you a single tip that could save you hundreds of dollars. Or, a vendor at the trade show might show you one new product or give you a single idea that could save thousands.

But the best NOMMA Power is when you make professional contacts around the country. Need a job installed in another state? Call a NOMMA brother or sister.

And as your colleagues get to know you, they’ll send you referrals, or they may even subcontract a project to you, or the two of you may even partner on a job. Now, this is true POWER.

Get plugged in

The more you are involved with your trade association, the more
opportunities you have for gaining a “takeaway.” We are all extremely busy, but if you can get away for a Saturday chapter meeting or a NEF class, you are again exposing yourself to new people, and new ideas!

And best of all, if you attend the
national conference you are in the heart of a thriving organism full of ideas and energy. METALfab is like the core of the sun — bright and powerful.

My personal experience

I am a member of a society of association executives. When meetings are held, I often think of a dozen reasons why I can’t attend, but I make myself go. I always wonder when and where I will find my next “takeaway.” Will it be from a keynote speaker, a class presenter, or the person sitting next me? Sometimes I will share, and sometimes I will receive, but always I will gain.

At my last meeting, I didn’t think I was going to get my “takeaway,” but then, surprise, I ran into a colleague in the parking lot and we had a great conversation. Those takeaways are hiding at every corner, and I guarantee that if you join and get involved in NOMMA, you will find them.