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The advice to master an “elevator pitch” in your prospecting efforts is not helpful for many reasons.
Here’s why.
What’s an elevator pitch?
I’m not quarreling with the importance of being able to respond to an inquiry about your services in a direct and succinct manner.
During a meeting with prospects, or possibly even in casual conversation, you’ll likely be asked questions that will give you an opportunity to demonstrate your technical qualifications. You need to be prepared to answer those questions.
But in this context, there’s a caveat.
Not all questions require an immediate response. Sometimes, the best reply is to seek clarification.
Here’s an example.
A prospect asks you, “Tell me about yourself.” Instead of launching into a long soliloquy, a better response is, “Is there something in particular you would like to know about me?”
By requesting clarification, you’re better able to focus your answer on issues you will know are really of interest.
Hokey “introduction” advice
My quarrel is with advice that extolls the virtues of a “creative” response when you are asked what you do.
Instead of simply responding, “I’m a financial advisor,” you’re told to say something like, “I’m a financial advisor who helps my clients retire confidently.”
I know of no other professional who would respond in this matter. A doctor doesn’t say, “I’m a medical professional who enhances the health of my patients.” A dentist doesn’t say, “I’m a dentist who believes oral health is critical to overall health.” An accountant doesn’t say, “I’m an accountant who reduces the tax liability of my clients.”
A response accentuated by a self-serving plug is salesy, tacky and off-putting. That’s why other professionals don’t do it.
We have a heightened radar that instantly detects insincerity. In one study, researchers played recorded responses to questions like: “What do you think of my new hairdo?” Some of the responses reflected the honest views of the speaker. Others had the responder reading from a script. Listeners were generally able to distinguish sincere from insincere responses.
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When you answer the simple question, “What do you do?” with something like, “I protect the financial future of my clients,” into which category do you believe your response falls?
There are other reasons to avoid falling into this trap.
Until you know more about the other person, you have no idea whether the information in your canned response will resonate. If you tell someone with a $20 million trust that you’re an advisor who “shows clients how to make their money outlive them,” you’ve just lost an opportunity to gain a high-net-worth client.
Volunteering information about the nature of your services focuses on conveying information (often unsolicited) about what you are doing and why you do it, when you should be using this meeting as an opportunity to elicit information about the other person.
Don’t waste your valuable time developing the perfect elevator pitch. Focus your energy on honing your skills and learning how to listen to others in a way that demonstrates you are sincerely interested in them.
Dan trains executives and employees in the lessons based on the research on his latest book, Ask: How to Relate to Anyone. His online course, Ask: Increase Your Sales. Deepen Your Relationships, will be available October 1, 2021.
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