The Elevator Pitch is finding new life in crowd funding campaigns. The chances of getting the right person in the elevator and the opportunity to pitch your idea has become extremely rare. Entrepreneurs are taking the elevator pitch into their own hands and creating their own opportunity using the source that connects the world – the internet.
Nowadays, there are two ways of getting funding for your upcoming product or service. Either you’re sending emails to your venture capitalists, or you’re taking advantage of the internet and creating the buzz yourself.. With either method, there are three important factors you must take in consideration while planning your elevator pitch: audience, method, and delivery.
Audience You Target for your Elevator Pitch Video
First step, who is going to be listening and watching to your pitch? Will it be a board of executives or college students? Once audience is established, what will be the valuable information your audience needs to know in the time frame? The classic elevator pitch used to be 30-60 seconds long, but this no longer applies. You must intrigue your potential investors with innovative ideas and interesting information about your idea.
A great example of this is Pacific Baby. They recently launched their Kickstarter video to ask investors for money for a new baby product that is environmentally friendly.
Method of Video Delivery
Next is method. How will you deliver this information and will it be appropriate for your audience? For example, before entrepreneurs are able to pitch to Shark Tank investors, they must submit a video to the producers. Then then the producers will select who can pitch to the Sharks. On the other, you have gofundme.com and kickstarter.com where entrepreneurs are pitching their ideas to millions of people hoping to get donations ranging from $1 or more. The method of being on social networks can be tricky and we will be posting our tips for social media promotion.
Delivering your Product
Finally, it’s time to deliver. This is the most important step and when you start turning your words into actions. When anyone gives away money or time, they are expecting something in return. Do not promise anything in your elevator pitch, that you are not willing to give or deliver on. You are not only building your product’s or service’s brand, but your personal brand. Keep to your word, stick to your values, and be considerate of others, and you will go from an idea to a success.