Not to be romanced by the product itself. Comparing the pitches for Edufire and Evernote.
Not to be romanced if I believe in the product itself: comparing the pitches for Edufire and Evernote.
Edufire
Edufire had really great catch phrases/concepts that quickly grabbed attention and put their product in a sphere for potential demand. For example: ‘Worldclass teacher’ (quality), ‘caters to both teachers and students (wide pool for potential earnings). The presenter was neutral (I did not like or dislike him). The words used were integral and the pace and timing of the delivery well effective.
Evernote
Like Edufire, Evernote also had catch phrases/concepts: ‘External Brain’, ‘whatever you want, whenever you want’ (convenience and access), universality with devices and browsers. The pitch also included information on how it works, what it works with, and the cost to the consumer. It did not provide links for purchase/access. The presenter for Evernote was the CEO (does that offer credibility?). He spoke too quickly. The pitch, on a second viewing, in comparison to Edufire, gave more clarity as to the product, its use, and how much you will pay. The use of practical examples was effective.
Questions or shortcomings
Both gave gaps in the market and their product solutions. However, both left me wanting. I saw the potential for a wide market in Edufire but no idea of how much I would earn and an idea of how the product works, its reach, accessibility and its resilience against competition/unique offering giving it key product placement. The latter also holds true for Evernote. Both also fell short on information on potential earnings as an investor or partnership and the competence of the venture leader/advisors. I would probably give them a second look because of the potential market but as an EVA who would see many pitches I would perhaps not spend too much more time.
Posted in: Week 03: Analyst Bootcamp
Angela Novoa 8:42 am on September 22, 2011 Permalink | Log in to Reply
Hi Henry, Great critique. You’ve noted lots of elements that should be considered when presenting a pitch. The concepts that are used and the forms of expression are relevant issues to consider. The CEO must be attractive. But also, the content is important too. the quality of the information about the product (costs, how it works, what it works with, etc.) and the people behind it is relevant. I keep thinking how difficult is to achieve all these things in such short time of presentation.
Angela.
khenry 6:47 pm on September 24, 2011 Permalink | Log in to Reply
Hi Angela,
Thank You. I also thought about the difficulty of fitting all that information in in such a short time. This exercise showed how much you can say effectively and efficiently in a short time. I quite like the idea of being able to zero in on your product and key elements. Getting rid of the fluff. It really shows if you really do have something unique to offer.
Kerry-Ann
Allie 9:14 pm on September 25, 2011 Permalink | Log in to Reply
Nice comparative critique, Kerry-Ann! As for the ‘how much to fit in’ question, I’m reminded of editing and grading student essays where I routinely strike out the first two or three sentences, and midway down page 1 write “start here.” The Edufire guy could have saved himself some time by jumping immediately into live video learning, and why that is good/effective/marketable rather than the “do you want to teach/learn in your own home?” line – because the being at home piece is part of any online learning environment.
schiong 12:09 pm on September 22, 2011 Permalink | Log in to Reply
Hi Henry,
I like the way you present your case…
Actually, the title itself is already catchy … it made me want to take a look at the article.
I admire the presenter. It is not easy to be pitching … especially to a wide range of audience.
khenry 6:49 pm on September 24, 2011 Permalink | Log in to Reply
Hi Schiong,
Thank you. You highlight an important point in the difficulty of pitching to a wide audience. The presenter did a good job indeed.
Kerry-Ann
Karen Jones 3:41 pm on September 22, 2011 Permalink | Log in to Reply
You raise an interesting issue, Henry. If we were to present a pitch in the given time frame, what elements could we include that wouldn’t use up valuable time, but that work to hook the customer/investor? Is the hook more important than giving a complete rundown of all details? I know that some of the pitches hooked me, but as I was unclear about what they were all about, I did look for further information online. Compare that to a one minute pitch that is dense with pertinent details, but so dry and boring it is forgettable, even if the idea has merit.
I like the way you used a comparison to highlight strengths and weakness. Great job!
KJ
khenry 6:53 pm on September 24, 2011 Permalink | Log in to Reply
Hi KJ,
Thank you. I also considered the essential elements to be included in such a short time. I like your additional spin of who are we hooking and what will hold interest. It’s definitely not an easy ride in that elevator.
Kerry-Ann
Keisha Edwards-Hamilton 8:22 pm on September 22, 2011 Permalink | Log in to Reply
Kerry,
I analysed Edufire and like you I would give it a second look because of the catchy phrases that were used. It also contained information that is current and also features prospective learners would want to be a part of a web-based course.
Keisha
khenry 6:56 pm on September 24, 2011 Permalink | Log in to Reply
Hi Keisha,
I did find information on features a plus for edufire. However, as an EVA I felt I needed a bit more information in the pitch. The challenge I guess is to know what to include and who we are targeting in our pitch.
Kerry-Ann
mcquaid 4:45 am on September 23, 2011 Permalink | Log in to Reply
Kerry, I liked your focus on language – almost like a magician’s subtle sleight-of-hand (well, mouth) movements that distract you from what you think is actually going on. The choice of language is not accidental, to be sure.
khenry 7:03 pm on September 24, 2011 Permalink | Log in to Reply
Hi McQuaid,
Thank you. Indeed I found the language quite magical as you put it. It is like watching these paid commercials because everything seems and sounds so good that we really have to wade through them to say do we really need it and/or will it be extremely beneficial or profitable for us to have and/or is there a cheaper way/alternative? Similar questions came up for me here and the language was indeed a key element in this.
Kerry-Ann