Every business should be able to describe itself in the time it takes to ride an elevator from one floor to the next. This is the idea of the “elevator pitch” that not only describes WHAT a business does but also how they are different and/or better than the competition. The elevator pitch is the tip of the iceberg when it comes to the development of a company’s true value proposition.  This is the distilled, in-a-nutshell version of WHY customers choose to do business with you. 

If you don’t have a meaningful value prop or elevator pitch (the shorter version), here are three ways to get the ball rolling.

1. Facilitate a small group workshop with your leadership team and/or others in your organization. Whiteboard your group’s input and consensus on these three questions.

-        What is the primary problem or need you address for your customers?

-        What is the biggest benefit or outcome customers get?

-        What makes you different or better than alternatives/competitors?

1. Survey your stakeholders and see how they would best define your business. This will give you a realistic understanding of your customer and employee’s perceptions.

1. Use A.I.. Simply pull up Grok, Claude or Chat GPT into your browser and ask it to “create a value proposition” by providing your company name, what you do and the answers to the questions above. You may be pleasantly surprised. It’s worth a try!

However you choose to define your value proposition, this is a critical starting point for everything that your company does.  Your value proposition in the form of an elevator pitch should be at the core of everything that comes out of your company. This is your brand identity.

If you need help on where to start, contact the Ad Monkey’s team.