An elevator pitch (aka positioning statement) is a critical over-arching business positioning statement (used for marketing, sales, organizational alignment, etc.), which includes the following components all wrapped up in under 35 words (ideally):
A. Type of business/organization you are
B. What products/services you offer
C. For whom you deliver these products/services
D. The value these products/services provide to your customers
E. How you are different from the competition

This is an example of a very effective, elevator pitch

Medical Software Provider is a technology company helping specialty physicians and medical billing companies increase revenue up to 40%, productivity up to 20%, and regulatory compliance as much as 10% by streamlining and enhancing the patient-billing process.

Following is an example of a poorly-constructed elevator pitch (same company):

Medical Software Provider develops revenue cycle management and practice management services for health care providers using an internally-developed and scalable technology platform.

Differentiation and brevity is what makes an elevator pitch effective.

Here are some before and after examples of elevator pitches in which no differentiation was applied and then when differentiation was applied.  You’ll note the huge difference.

Example 1:

Elevator Pitch Without Differentiation:

Call Recording Company is a recognized innovator of voice recording and monitoring applications that drive efficiencies in the capture, storage, retrieval and playback of voice, radio and data communications.

Elevator Pitch With Differentiation:

Call Recording Company is the fastest growing, longest-standing and 3rd largest global call recording provider offering the most secure, open and future-proof solutions for organizations to rapidly improve performance, optimize service, mitigate risk, lower cost and maintain compliance.

Example 2:

Elevator Pitch Without Differentiation:

Software Provider develops revenue cycle management and practice management services for health care providers using an internally developed and scalable technology-platform.

Elevator Pitch With Differentiation:

Software Developer is a technology company helping specialty physicians and medical billing companies increase revenue up to 40%, productivity up to 20%, and regulatory compliance as much as 10% by streamlining and enhancing the patient billing process.

Example 3:

Elevator Pitch Without Differentiation:

Wireless Company combines three distinct and critically interrelated disciplines: Ethernet networking, radio frequency management and systems management. We offer a wide array of consulting services, site surveys, system design, radio frequency analysis, and wireless installation capabilities.

Elevator Pitch With Differentiation:

Wireless Company is the total wireless solutions company to beat, with the deepest integration expertise and product knowledge, a 99% client satisfaction rating, a 15-year successful history and the industry’s shortest installation and delivery times.

Example 4:

Elevator Pitch Without Differentiation:

IT Services Firm provides solutions for the next generation enterprise which include the enablement of new business models, software application development, collaborative technologies, data center and cloud management, IT governance and risk training, and workforce management.

Elevator Pitch With Differentiation:

IT Services Firm is the world’s fastest-growing, minority-owned, midsized provider of business consulting and IT solutions, arming organizations and systems integrators with breakthrough services, training, on-demand staffing and CTO-caliber leadership to optimize resources, reduce costs and accelerate performance.