Perfect your insurance agency elevator pitch
By Alan Blume
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.
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.