What is an elevator pitch
? A formal definition might sound like this: a succinct summary used to define or explain a product, service or organization and its associated value proposition. The name is derived from the concept that someone can deliver this pitch within the time frame of an elevator ride. Many consider this to be a 30-second to 60-second interval, and although everyone would agree it must be a short amount of time, the precise time span is somewhat subjective.
I think shorter is better, and most business professionals should target 30 seconds for their pitch, as opposed to a minute. So, what's your
pitch? What can you tell prospects in 30 seconds to whet their appetite, offer a taste of your services, and leave them wanting to learn more? It's more difficult than you might think and requires refinement and rehearsal.
Here are a few best practices when it comes to your insurance elevator pitch:
- Make it short and simple.
- Minimize jargon (unless "verticalizing" as noted below).
- If you focus on a niche like indexed annuities, construction or public liability insurance, "verticalize your elevator pitch." This means it is easier to differentiate your agency in 30 seconds.
- Include a geographical reference if you work in a specific area like California, Texas, the Northeast, the Midwest, etc.
- Be different. “I save money and provide great service" is something everyone says. What are your top two or three differentiators? Why should they work with your agency?
- Transfer your enthusiasm. You must believe it for the prospect to believe it.
You only have 30 to 60 seconds before your prospect walks out of the elevator. This moment in time could be a great opportunity — make it count with a succinct, high-impact insurance agency elevator pitch.
Sample elevator pitch: New England trucking insurance agency
We've been helping New England fleet operators with their trucking insurance needs since 1957. We understand the special requirements for both large and small fleets, and we provide creative plans to optimize coverage to help the bottom line. Whether it's freight, hazmat, property, group benefits or owner operator assistance, our expertise in transportation is unmatched. If you'd like to work
with an agency that truly understands trucking and treats your business like a partner rather than a customer, you should work with our firm.
Write down your script and remember that practice makes perfect. After you've rehearsed and refined your speech and can pitch it in a consistent and compelling manner, make sure that everyone in your agency can, too. Once completed (and remember that your insurance agency elevator pitch can change over time), agents can leverage their refined elevator pitch and integrate it into their insurance agency
marketing materials, website content, social media marketing initiatives
and insurance Web marketing campaigns. Create your message, memorize your message and deliver it directly to your target market.