When people think of marketing, they often think of revenue growth or sales alignment. However, marketing can also play a role in fundraising. Noreen Allen, the CMO at Bandwidth, shares how you can create the perfect strategy and messaging to help boost your SaaS company, whether you’re in Series A or approaching your IPO.
Connect Your Business to a Growing Market
Allen begins her session with a helpful piece of advice: “You want to make sure that as you’re working on your messaging and positioning, you clearly show how your business is connected to a growing market.”
Investors are always on the hunt for growth and market potential, so when you’re preparing for fundraising, really take the time to:
- Examine your company’s category.
- Figure out how you fit into your category by defining your unique differentiator.
- Determine the macro-dynamics that are impacting the overall market.
Once you’ve pulled all of this together, you want to combine forecast data to back everything up. But avoid relying too much on the data. As Allen emphasizes, “You want more than just the data. You want to be able to tell a story and connect your business to trends that are happening in the industry.”
Investors are people too, and you want to fuel their excitement about your business with compelling messaging. Even if you are entering a crowded market, show your differentiated position in the market in an exciting way.
A word to the wise: keep your copy simple and your talking points straightforward. If you try to overcomplicate with clever-sounding jargon, an investor might miss the nuance of your business. Instead, break down your message into simple terms to bring your brand story to life.
View Every Person You Encounter as a Potential Brand Evangelist
Don’t bottle up your excitement about your brand. Remember, you never know who might become your biggest brand champions, whether that comes in the form of a customer, an investor, or an employee.
Beyond presenting a general level of excitement about your company, you will ultimately still have a list of desired stakeholders to reach. Allen recommends taking a surgical approach to reaching your stakeholders. This approach entails:
- Identifying key influencers for your business.
- Put a plan in place to convert those influencers.
- Develop a relationship with analysts.
- Seek third-party validation through awards, speaking opportunities, and analysts.
Additionally, VCs will often share reports with you or go to their blogs and Twitter to share insightful insights about the industry. Pay attention to what they’re saying and align yourself with them. Bring in your own reports and data if you get the opportunity to meet with them.
Remember, your brand is much more than your website! Stakeholders will form their opinions from third-party reviews, social media, and even Glassdoor.
Key Takeaways
- Connect your business to an emerging market, and emphasize your differentiator.
- Be sure to engage your investors with a story to get them excited.
- Keep messaging simple.
- If your budget is limited, take a surgical approach to reach stakeholders.
