August 3, 2015

Writing a Vision Statement with the Elevator Pitch Technique

The elevator pitch is a way to articulate the vision so that it can handle the classic elevator test, i.e., can you explain the product’s vision of a person in less than two minutes (before the elevator arrives, and you step out)?

It is used to explore, develop and share a product vision.

Elevator pitch consists of six parts

  1. For… (the product’s target market)
  2. Who/That… (describe what need your product solves)
  3. The product… (product name,or product category)
  4. That leads to… (main advantage, appealing reason for purchase)
  5. Unlike the… (principal competing alternatives)
  6. Our product offers… (describe main differentiation)

Example 1

For purchasers and suppliers in medium-sized companies that need demands set and test the IT systems that they build themselves or create in ReQtest, a cloud service that leads to structured requirements and tests. Unlike other software, our product offers many user-friendly features at a low cost.

Example 2

For the marketing of medium-sized businesses who need basic CRM functionality, CRM Catalyst is a web-based service that provides tracking sales, sales leads generation and sales support functions that leads to improved customer relationships. Unlike other services and software, our product offers many more features at a lower cost.

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