Fundraising is a journey filled with highs and lows, and often the real work begins after the first pitch. Following up with investors isn’t just about checking in; it’s about building a relationship, keeping the momentum, and guiding the conversation toward a successful close. But let’s be real—there’s a fine line between being persistent and becoming a pest.
So how do you keep investors engaged without overstepping? Here are the dos and don’ts of investor follow-ups to help you close your fundraising deals.
Do: Be timely and thoughtful
Timing can make or break your follow-up. Investors are busy, and a well-timed message can keep your startup at the forefront of their minds without feeling intrusive. After your pitch, follow up within a week to keep the conversation alive. Don’t just send a generic check-in; add value by sharing updates that highlight your progress or address specific questions they may have raised.
Knowing when an investor has just reviewed key sections of your pitch deck, like your financials, allows you to step in with relevant updates or answers to potential questions they might have. These are some of the advantages a tool such as Pitchwise offers—providing real-time insights into investor behaviour on your deck.
Don’t: Follow Up Without Adding Value
Nobody likes a follow-up that feels like a nagging reminder. Instead of asking, “Did you get a chance to look at my pitch deck?” Consider what you can bring to the table that keeps the dialogue meaningful. Whether it’s sharing a recent milestone, an exciting new partnership, or an industry insight, your follow-ups should always add value and move the conversation forward. For example, instead of a generic check-in, you could say, “We just secured a strategic partnership that expands our market reach by 30%, and I wanted to share how this aligns with our growth plans.” This not only demonstrates progress but also keeps the investor engaged with new, relevant updates that strengthen your narrative.
Do: Personalize Your Communication
Investors receive countless pitches and follow-ups, and the ones that stand out are those that feel personal. Reference past conversations, acknowledge their feedback, and show that you’re genuinely interested in a partnership. This level of personal touch shows respect and professionalism, which goes a long way in building trust.
Don’t: Ignore the Signals
Investors communicate a lot, even when they’re silent. If an investor responds positively but doesn’t commit, they might need more time or reassurance. On the other hand, if they’ve gone quiet after multiple follow-ups, it could signal that they’re not the right fit right now. Respect those signals—persistence is key, but knowing when to pause or pivot is just as important. How do you recognize these signals? It’s all about paying attention to the subtle cues: Have they checked your deck? How many times did they check? How long did they spend on it? With Pitchwise’s analytics, you can see the patterns in how investors engage with your materials, helping you refine your approach and avoid pushing too hard when interest wanes.
Do: Be Clear About the Next Steps
Each follow-up should guide the investor toward the next stage—whether that’s scheduling a call, providing more information, or simply asking for feedback. Be direct about what you’re hoping to achieve with each interaction. A clear, respectful ask not only moves the process forward but also shows that you value their time. Using tools like Pitchwise, investors can seamlessly schedule calls with you through your deck, which helps you keep your fundraising efforts organised and efficient.
Conclusion: Closing the Deal with Confidence
Effective follow-ups are a blend of timing, relevance, and persistence. It’s challenging to know when to reach out without being pushy, how to keep the conversation relevant, and when to push for a decision without overstepping. However, mastering this art is crucial for building trust and guiding investors toward a commitment. Pitchwise simplifies this process by helping you stay organised and informed of these interactions, ensuring you’re always one step ahead in your fundraising journey.
Remember, closing a fundraising deal isn’t just about sealing the agreement; it’s about building a relationship that could last long after the deal is done. Be thoughtful, be strategic, and let Pitchwise be your partner in turning conversations into commitments.
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