We tend to think of an elevator pitch as something we use for networking. Indeed, if networking is your primary way of generating leads then having a good elevator pitch is vital. Even if you prefer other forms of marketing, if you cannot communicate what you do in 15 seconds or less then it is likely that any form of marketing you do is not as effective as it could be.
Lost in the noise

The chances are there are no shortage of people doing what you do with a similar message as you. Last week I went to five networking meetings in different locations and it was like déjà vu. The faces were different but they were saying the same thing. In one case I was in a room with three financial planners and each of their pitches was almost identical.

The human brain is wired to spot the new and zone out sameness. Even if your service is not different then at least make your pitch different.
What’s in it for me?

You have to assume that a good proportion of people who you speak to already have a supplier of the services you offer or know plenty of people who offer the same services as you do. So why should they, for example, ditch their accountant that they are happy with and switch to your accounting service. If there is no relevance to them then they are going to stop listening after 10 to 15 seconds so it does not matter what you say after that.
Deeper problems?

From a sales and marketing perspective, the real issue is that your elevator pitch is a symptom of deeper problems with either your market positioning or your comprehension of it. Whilst it may be totally clear to you that your services are better than your competitors, all your prospective clients have to go on is what you communicate. What comes out of your mouth or what you have on your website, brochures, flyers etc.
Essential information

Businesses that have done the strategic groundwork to their sales and marketing should be able to tell you within 15 seconds (40 words) who their target audience is and the results they deliver for their clients.
Quick start

The strategic groundwork does take a little focused effort and is one of the things we teach in our Business Development Academy. However, for most businesses, they can get a big improvement by using this simple template:

I/we specialise in helping to

Example:

I run a boutique PR agency and…

We specialise in helping to

Whilst it may not be that compelling, it at least gets the attention of high profile people who want more publicity in consumer based media.
More advanced version

The thing that we focus on in the Business Development Academy and which really makes a difference is understanding the psychographics of your target audience so that they connect with your message on an emotional level

I run a boutique PR agency and…

We specialise in helping to

The client’s ideal clients were high profile people who are already working with large agencies but fed up just being a number.
The true benefits of gaining this clarity

Whilst having a better elevator will help in generating leads, having your market position so clear that you can communicate it to others in less than 40 words means that, with a bit of innovation around your packaging and business model you can move towards dominating your market niche.