Marketing: The Elevator Drop Pitch

Learn the formula to talk about any product or service with a successful elevator pitch.

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If you can't explain it simply ... you don't understand it well enough.  
​Albert Einstein

You're at a meeting.  Suddenly, unexpectedly, you find yourself face-to-face with one of the key people who will soon consider your zoning application.  Or your financial package.  Or your design submission. Or, a prospective member.

He or she asks the question:  So, what is cohousing?

You have 10 seconds to make your marketing pitch about cohousing before the person is distracted by someone else clamoring for attention.

What do you say?

I don't know about you, but I've often found it difficult to cram into 10 seconds:   What Is Cohousing?

Until I ran across this formula in an Entrepreneur on-line newsletter.  

According to its author, Robert W. Bly:

Most elevator pitches, unfortunately, don’t work because they're just straightforward descriptions of job functions and titles, generating not much else aside from disinterest and a few yawns. For example, a fellow I met at a party once told me, “I'm a certified financial planner with more than 20 years’ experience working.” OK. But who cares?

This is The Formula, developed by Paul Karasik and cited by Bly in the Entrepreneur article:

1.  Identify the issue, the "pain" or the question that needs addressing.  Use the question:  "Do you know that..."

2.  Next is a statement that is a clear, concise descriptor of the product or service:  "What I/we do ..."

3.  Lastly, identify the BENEFIT:  "so that ..."

Here's an example when I'm asked about our consulting services for senior cohousing:

Do you know what seniors fear most is loneliness, helpless and boredom? What we do is collaborate with you to help you build a state-of-the-art neighborhood for aging in community so that you can live longer, healthier, connected and fulfilled lives.

You can use this formula to pitch ANY product or service -- even the budget for budget approval!

TIP 1:  If you're building a cohousing community ... everyone in the group should have an elevator drop pitch that fits his or her way of speaking. PRACTICE giving the pitch to each other.  You'll be surprised!  It pays off to do this!

TIP 2:  You will want to have several pitches to use for different people and situations. I might well have a different pitch for an individual who is a prospective member vs. an institutional leader from whom I need support.  The key is always:  what's "it" to him or her?  Why do they care?

Do you have an elevator drop pitch for cohousing you want to share?  We'll reprint it. Need help developing a pitch? Let us know and we'll repost it for feedback.  Send your elevator drop pitch to share or your request for help with a pitch to Ann. Please include your contact information!

Edi-bits

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Top 10 Gadgets for 2015

From a foot-powered washing machine, hydroponic apartment size garden, a vertical grow system, to an electricity-free dishwasher ... get your gadget fix for 2015 from Treehugger.   O yeah.  The new Raspberry Pi 2 is featured!  (If you're a geek you know how important a new Raspberry is ...)

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Another Treehugger contribution:  Top 10 Shipping Container, Pre-Fab, Modular Homes of 2015.  We like this list because the entries span quite a spectrum:  3D printed houses which we reported on in our first two newsletters, shipping containers with the works included, passive house and ... more!
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HUH?