Sep 27, 2023
The Investor Update Email
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
After you have pitched an investor it’s important to update them on the progress of your startup.
Investors look for momentum and traction in the startup before investing.
Forecasting high revenue is not the same as actually demonstrating a growth story in progress.
The update should go out no less than once a month.
The email should be short and to the point.
In the subject line put the name of your company and the word update with the month and year.
Remind the investor that they heard your pitch and list in short, bullet points updates about sales, team, product, and fundraising.
Investors look for the progress you are making and not market news or competition updates as they want to know what you are doing.
In most cases, they will not reply.
It’s not the depth of information that counts but rather the consistency of the updates that matters.
It takes seven touches to close a sale so it takes seven touches to close an investor.
Each email lets the investor peel back another layer of the onion and become more familiar with you and the startup.
It’s not the pitch that motivates the investor, but rather it’s the follow-up.
Focus on key points about the business such as sales pipeline, team activities, product development status, and planned fundraising amounts with valuations.
Ask for advice and feedback as well to engage the investor.
Finally, an investor email campaign will be far more effective if you’ve built a list of investors who know your deal.
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