In this blog entry I would like to consider the concept of an elevator pitch on an example of CupAd. There are a few things to be considered when constructing a pitch. It’s a perfect example of introducing the concept of a product in just two minutes, which is enough time for introducing a product during an elevator ride.
Josh Light the CEO of CupAd starts with introducing himself, and in the second sentence explains the offer his company is making to his customers: “We believe we have the most effective way of advertisement available in the market today”. This way, about 9 seconds into the pitch, everybody knows the context of advertisement. In the next sentences he starts to explain the usage of coffee cups as an advertisement instrument. In order to keep his audience interested and awake, he uses phrases that incorporate them, such as “we put your brand in their hand”. This phrase summarizes the whole idea of CupAd in seven words, but does not lack any information.
As a third he clarifies his value proposition to customers advertising on coffee cups. In numbers he states that it takes an individual about 37 minutes to drink a coffee, coffee drinker will look at the cup for about 20 times and in addition moves around and exposes the advertisement to his environment.
In the second half of the pitch, Josh states the motivation for CupAd and participating coffee stands. He speaks about the success of CupAd as they have already 58 participating coffee stands at the time of the pitch he projects this number to the upcoming months. And calculates a number of over 1 Mio USD of profit every months. The way he derives to this number is convincing to everyone listening to him and could get investors and customers to work with CupAd.
Last, but not least, it can be mentioned that Josh uses his gestures very effectively to underline his sayings and keep the audience interested and listening.
I really like this pitch, as it covers the most important facts very clearly and understandable: What are they doing? How do they do it? What do I get as a customer and why should I participate?