Elevator Speech and USP

I'm thinking that an Elevator Speech is very similiar, if not the same, as your USP. Am I right?

Originally Posted by SpeedRacer I'm thinking that an Elevator Speech is very similiar, if not the same, as your USP. Am I right?

Interesting question. I think most so called "elevator speeches" are really two-way conversations which are opportune times to insert identifiable differences. You'll notice that it will either be the other person saying something that allows you to say, "No--actually what we do is sort of unique..." --or--The other person would say something like "Oh, yes--you guys are the one's that....(stating your USP)?

But if they have never heard of you or your company, then I guess a prepared "elevator speech" should contain your USP.

Of course, nothing will get their attention more than asking and talking about them--rather than yourself.

For those willing to share, I'd like to hear some elelator speeches. I'm trying to articulate mine and learn well by following example.

(BTW Gary, what does USP stand for?)

Originally Posted by RainMaker BTW Gary, what does USP stand for?

Unique Selling Proposition. Some people use the term Identifiable Difference.

Originally Posted by Gary Boye Unique Selling Proposition. Some people use the term Identifiable Difference.

Stepping into an elevator in the Crystal Crown Hotel where I lived for five months in Petaling Jaya, Malaysia I smiled at a Chinese man and said, "I really like Malaysia, especially the food."

Chua smiled back, we talked and when he asked what I was doing in Malaysia I told him I was on a business trip and that "The food we sell is a soy based nutritional supplement" and I asked him if he used supplements.

He said he did and he wanted to know more so over the next few weeks we became friends - our conversations were 80% him telling me all about the history of his country which he loved to do - over tea time and he became a customer.

I had conversations every day - this one mattered as far as long term friendship and business - the rest didn't.

Today we keep in touch using Skype or emailing.

Originally Posted by RainMaker For those willing to share, I'd like to hear some elelator speeches. I'm trying to articulate mine and learn well by following example

Since I'm just now re-doing my dialogue (yes it should always be 2-way!) as part of a course I am taking, this is a perfect opportunity for me to "practice". I actually have multiple of these but I'll just share the one.

Hypothetical discussion with "Jane" at a generic networking event.
JANE: “Hey Terri, what is it that you do?”

TZ: “Hi Jane, thanks for asking! You know how many self-employed people find it frustrating to be in business by themselves, overwhelmed with trying to do it all?

JANE: “Oh yeah, I definitely do. Actually, that sounds exactly like my brother, Joe.”

TZ: “Is he working long hours alone and still not getting the clients he wants?

JANE: “Yeah, that’s exactly right! He loves being able to work from home, but he’s just not happy with the clients he has and how many nights and weekends he is working.”

TZ: “I definitely understand! And he’s not alone. So what Solo-E.com does is teach home-based business owners like your brother the four most successful strategies that we’ve learned from successful solo entrepreneurs. Then we offer a 24/7 online learning and networking community to support them in implementing those success strategies in their business. And the results can be pretty dramatic – I know one fellow who using just one of the secrets went from zero to $250K in two years.”

JANE: “Oh wow! That’s pretty cool.”

TZ: “We are really seeing solo entrepreneurs designing their work to fit their life: working when they want, doing work they love, with people they enjoy. I know another woman who trimmed her hours from like 60-70 down to 30 hours a week. She only works when she wants to, still makes 6 figures, and has rediscovered her friends and hobbies!”

Yada yada yada

Hello Terri, what do you say when the other person just says, "yes" to your first question instead of a longer answer?

Originally Posted by bridger480 Hello Terri, what do you say when the other person just says, "yes" to your first question instead of a longer answer?

The dialogue I wrote above is of course hypothetical. You never know quite what the other person is actually going to say!

So the important parts of this dialogue to develop for yourself are:

1. Your description of your target market
2. Your understanding of their problems
3. Your unique solutions to those problems
4. The benefits your target market can get from your solutions

Once you have these, you can conduct a conversation with just about anyone. Some may be a lot shorter than others when there really isn't a connection or interest; others may be longer. It's not a one-way conversation -- you need to ask questions of the prospect to understand their situation and respond appropriately to what the person says to you.

Hope this helps.

that is defintally intresting has any one had any Success with that?

Originally Posted by Sanddollar that is defintally intresting has any one had any Success with that?

Well, I found it challenging to sum myself up in one sentence (and a wonderful excercise in forcing myself to focus like a laser). I finally came up with:

"We provide an online marketing program for small business owners who are looking for meaningful, measurable results from their advertising for a fraction of the cost of typical advertising."

I'm starting every presentation with these words and I am using it in some cold calling scripts. Because it seems I am molding and changing my focus and slant the more I learn, this may change, but today, I am comfortable with it. It has not been tested enough to know whether its a "keeper."