In this post, featured on Forbes, Andrew Angus gives tips and facts on how a video will improve your market share. Check out a snippet of the article below. To read the full article on Forbes, just follow the link at the end of this post. Enjoy!
Relationships — the key to a successful business — have to start somewhere. If you’re trying to build a relationship with potential investors, customers, or key vendors, a video elevator pitch is an excellent way to ensure you make a strong, positive and productive first impression.
An elevator pitch is a short, 30- to 60-second introduction to your company that focuses on the value you offer to the viewer. According to research by Mayer and Anderson, if you stimulate the auditory and visual senses (activate both the auditory and visual pathways in their brains) you increase your viewers’ comprehension/understanding of your pitch by 74%.
What a Video Elevator Pitch Can Do for You
While a video elevator pitch is useful for companies in all stages of the business cycle, it is especially important for startups. In the beginning, investors and customers alike will be unfamiliar with you, your message, and how your product or service can benefit them, but a video pitch with a solid voice, mission, and story will help viewers instantly connect with your company.
Use your pitch to accomplish these three critical tasks:
- Raise Money: There comes a time in the life of every business when you’ll need to convince someone to give you money. Investors must have confidence in you or they won’t risk their hard-earned cash. If your pitch leaves them with a lot of questions and confusion about what you do and how you intend to proceed, you won’t be successful. However, a great video elevator pitch can impress potential investors, build confidence, and lead to the approval of the funds you need.
- Build Trust: Young companies must build trust with their vendors, potential advisors, investors, and customers. Crafting an elevator pitch that is short, clear, and consistent can build trust by showing you know who you are, what you do, and how seriously you need to take your goals. To view a video pitch that builds trust and inspires confidence, check out CupAd’s pitch by Josh Light.
- Acquire Customers: When you’re starting out, you have to bridge a big gap to get customers to associate your brand with what you do. If you are making your pitch in person, a clear elevator pitch that focuses on the value you offer your customer is absolutely necessary. However, many sales interactions occur in the virtual environment, so making your elevator pitch a video is the key to standing out from the crowd, sharing more information in a shorter period of time, and snagging those critical initial customers.