Convert prospects into customers, clients

As a business coach, I”™ve seen the effectiveness of preparing a business “commercial” ”“ also called an “elevator speech” ”“ for times when you must favorably impress a prospective customer or client. Here”™s what you need to know to create an effective commercial, one that captures attention and opens the door to a sale.

Create more than one
Typically, you meet prospects, ask them about their business and when the opportunity presents itself you deliver your commercial. But is it the right commercial for that prospect at that time?

Just as with clothing, one size doesn”™t fit all. You really have to develop different commercials for different situations. Think about your target customers and the events they attend and the common issues they discuss that will help them improve their business. Then create custom-tailored commercials to demonstrate that your products or services can help them.

One of the big keys to a successful commercial is relevance. Is it responsive to the prospect”™s needs and wants? Have you really listened to what the prospect said about his business needs so your response focuses on how you can help him in particular?

If you use a boilerplate one-size-fits-all commercial, the chances are really good that you”™ve probably lost business by failing to address the specific needs of the prospective client that is right in front of you. In effect, you leave business on the table every time that your prospect is on one wavelength and your commercial is on another.

If you”™ve been using the same commercial for years, consider changing it. You don”™t want to come across sounding like a pre-recorded message. That”™s the risk you run if you”™ve memorized your commercial and have been using it year in and year out.

Test different messages with your existing clients, your family and friends to see if you can come up with fresh and compelling ways to make your sales points to suit a wide variety of business situations.

You should also rethink your message in light of the current economy. As never before, prospects are looking for value, minimal risk and the strong probability that your product or service will clearly help them make and/or save money.

An alternative to developing whole commercials is creating a set of talking points that you can draw upon to customize your response to the specific needs of each prospect you come across. This gives you maximum message flexibility and contributes to the freshness of your presentation.

Get the length right
When you watch TV, how long does it take for you to start zoning out when a commercial comes on, runs too long or covers a topic that is of no interest to you? Not long. Five seconds? Ten seconds? That”™s why savvy advertisers run multiple commercials, with different messages of different lengths. Take a page from their book. Make your commercials punchy, vary your pitch and tone and keep them focused on the needs your prospect just told you he or she has. Moreover, just as you should have multiple commercials in terms of content, you should also have different commercials in terms of length.

For many occasions, you have to keep your commercial to a minute or less. Importantly, you should play by the length rules of the organization whose event you are attending. This shows respect for the organization and the people you are speaking with.

There are opportunities to use commercials with different lengths to meet different circumstances. Typically it”™s good to have at least three to five commercials of different lengths:

10 second: A quick introductory when you or your prospect don”™t have time for a detailed discussion but can exchange cards for a longer talk at some other time.
30 second: A typical length for networking events.
1 minute: Another typical networking event timeframe.
5 minutes: Generally the amount of time you have when sitting at a table with a prospect.
30 minutes: For situations where you have the opportunity to give a thorough presentation

Customer focus is key
With the five-minute and especially the 30-minute commercial, it is critical that you put in appropriate breaks and pauses. For commercials of this length, you need to build in questions and examples to generate rapport and hold listener attention. Remember, you want your commercial to be engaging and also demonstrate that you and your business meet the needs of your prospect. More than anything, that is what will keep your prospect focused on what you can do for him.

It takes effort and practice to create effective commercials for your business. But when properly done, they can be a powerful tool to convert prospects into customers and clients.

Josh Slavitt is a certified business coach with Westport-based ActionCOACH of Connecticut, a worldwide business coaching network. Reach him at joshslavitt@actioncoachnow.net.