How to stop losing investor interest during fundraising? How can you keep them engaged, excited, and ready to put in their capital?
Startup fundraising is a sales game. A long one. It is its own sales venture that your company has to get serious about beyond your product. It’s not like giving away free trials online, selling one-click consumer products like a phone or meal delivery, or even larger ticket items like cars.
It is typically, not only a longer sales cycle, but also a longer closing process. A longer process that brings more risk of them losing interest and falling out.
Not only do you have to keep up their interest, stay top of mind, and drive urgency and action to make sure the money hits the bank, but also to maximize each connection.
Done right, each interested investor will spread the word and bring other investors, as well as raising awareness about your product and job openings.
So, how do you do it?
Experienced and savvy founders know that they are always fundraising. In fact, the best are already strategically working on the next round before they close the one on the table.
They are thinking about how to set it upright and get these investors to participate again if they can. Or at least to position themselves in this round to be a great fit for the next round of investors.
Fundraising relies heavily on trust and familiarity and relationships. Cold prospecting investors can work. Though it works much better when you have months or years to nurture and build that relationship before you really need the money and them on your board.
Build up slowly, soft sell, and plant the seeds in their minds that it is a good idea to invest in you, without you even having to ask. If they ask if they can invest with you first, you have really nailed it.
Trickle and build up to a short active campaign. Ask for their input and review of your pitch deck. Stay engaged with them on social media. Learn the vital skills of how to stop losing investor interest during fundraising.
Keep in mind that in fundraising storytelling is everything. In this regard for a winning pitch deck to help you here, take a look at the template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
Remember to unlock the pitch deck template that is being used by founders around the world to raise millions below.
Ramp Up Your PR, Marketing & Branding
In addition to direct outreach and communication, make sure you are showing up everywhere they are. Stay top of mind casually and subconsciously with your branding, PR, and marketing campaigns.
You can even often specifically target them and their network to be shown this content. Use social media, email ads, the news, blogs, and podcast appearances. Be sure there is always something new to see and share.
If you don’t have other traction during your fundraising campaign you can at least point to all the action out there on the web where you are being mentioned.
Build this action up and make sure you have content and ads scheduled to keep up the momentum through the active stage of your campaign.
Keep Your Campaign Short
It is easier to keep up interest if your campaign is short. If you are still talking about the same round six months later then they will fade out or think no one else is interested.
See How I Can Help You With Your Fundraising Efforts
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