Settle in for the week ahead, power up your marketing engine and maximize your momentum with a quick review of this elevator pitch from a company that produced an iPhone app for restaurant reviews.
An elevator pitch is an essential weapon for every company. For those who think it is merely for startups and those seeking investors, think again. You’ll find that having and delivering a succinct short summary of what you have to offer in less than two minutes is an effective marketing tool for creating favorable impressions and top of mind awareness. Having a solid elevator pitch can make the difference between an opportunity seized and an opportunity missed. It opens the door to a more formal encounter that could possibly seal the deal.
A good elevator pitch offers the following information:
- The company name, category and a brief description of what the company does and the problem it is attempting to solve
- The service market/target audience
- The proposed solution (product or service)
- The business model
- The key benefit of the solution service or product
- How the company compares to other familiar companies
- Why the company will succeed
- The vision for the company
We’re huge fans of the MediaBistro TV Elevator Pitch web series and invite you to watch and rate this episode featuring Fondue, which hit the market in 2010 as an app for mini restaurant reviews and evolved into a social network. Two years later, Fondu was acquired by Airbnb and has since shut down. But let’s rewind. Is the elevator pitch effective? Does it make you want to say: Tell me more, Hmmmm or Yelp? To learn more about the impressive sunrise and lucrative sunset of Fondu, we recommend these articles from Business Insider and All Things D.
For daily marketing communications news, subscribe to LGK’s free, online, MarCom Digest. Maximize your momentum!