DEFINITION of Twit Pitch
A twit pitch is a slang term used to describe an overview of a startup company, a product or service that is short enough to fit in the character limitations of the social networking website Twitter. A twit pitch is a variation of an elevator pitch, but with the constraint being the 140 character limit imposed by Twitter instead of the time spent in an elevator.
An elevator pitch is used by startup founders to sell their idea or business concept to investors in hopes of capturing their interest on the road to winning startup capital. The idea is that the investor should be able to understand the idea and see its potential in the time it takes to ride an elevator (presumably alongside some venture capitalist) - or approximately in two minutes or less. In the age of social media, the trend has instead been to be able to write a pitch in 140 characters or less (which Twitter has now increased to 280 characters) in order to capture investor interest -- such as Cisco Systems: “we network networks”, or Sequoia: “the entrepreneurs behind the entrepreneurs”
BREAKING DOWN Twit Pitch
The advent of new technology and the impact it has on modern business has made longer business proposals and initial contacts with potential investors using full length business plans a thing of the past. Venture capitalists (VCs) and executives who are forced to divvy up their limited time reading lengthy proposals may decide if a proposal warrants further reading by examining twit pitches for key words. This places more pressure on the person making the proposal, as he or she will have to explain a potentially complex topic in a small amount of space.
Twitter, with its limitation on how many characters of text can be included in a tweet, has set a new kind of standard in condensing a pitch into a tiny amount of space, replacing the cursory elevator pitches which came before it. Twit pitches are becoming a kind of art form in their own right, with some becoming known as 'company Haiku'.
Examples of Twit Pitches
Here some examples of successful Twit pitches:
- amonter5: We want you to meet awesome people, when you are in a space or event@crowdscanner #twitpitch
- ToddrLevy: Our startup @Bloomworlds, a Founder Institute company, is developing a "family friendly" app store for the Android community. #twitpitch
- laurentk: Discover cool new people and things to do in your areas with @submate#twitpitch
- amjjd: Kyral makes it easy to find, share and organize office documents on your company network using search and tagging. #twitpitch
- michuk: Foursquare for film – local recommendations & community: @filmastermobile – coming in January to iPhone near you #twitpitch
- eventribute: An online contest organizer in Twitter and social networks #twitpitch
- 42goals: A simple tool for tracking personal goals and daily activities #twitpitch