The average length of a funding pitch to angel investors is 10 minutes. Even if you have booked an hour with a VC, you should plan to talk only for the first 15 minutes. The biggest complaint I hear from investors is that startup founders often talk way too long, and neglect to cover the most relevant points. Or they get sidetracked by a technical glitch due to poor preparation.
If you start by pitching your extended life story, that's the wrong point. Equally bad is an extended pitch on your new disruptive technology. Investors are more interested in your solution and your business, rather than your technology. Here are some tips on the right approach and the right points to hit:
1. Match your material to the time allotted. If you have 10 minutes, that means no more than 10 slides. Then match your pace to cover all the material. I've seen several presentations that never moved past the first slide before running out of time. An obvious effort to keep talking after the time limit won't save your day with investors.
2. Remember you are pitching to investors, not customers. Some entrepreneurs seem to think that their product pitch is also their investor pitch. I outlined what investors expect to see in an earlier article ("Ten Slides Make a Killer Investor Presentation"). These are tuned to the 10-minute limit, but are just as adequate if the investor gives you an hour.
3. Check the setup and set the stage. If the projector doesn't work, or won't connect to your laptop, you are the one that loses. Have at least one backup plan, such as copies of your slides to hand out and discuss, in case all else fails. The first words out of your mouth should be "Can everyone hear me and read the screen?"
4. Research your audience before presenting. The most respected presenters are the ones who have done the research before hand to know who is in the audience, and have tailored their message to these interests. If you know only a few people in the audience, acknowledge them, and convince the others that this is not a random cold call for you.
5. Dress appropriately and professionally. It's always better to be over-dressed than under-dressed. Business casual is the standard. Remember that most investors are from a generation where faded and torn jeans were on the wrong side of success in business.
6. Let the top person do all the talking. Tag team shows don't work in short venues. More importantly, investors want to see and hear the top guy -- typically the founder or CEO. They will be judging his aptitude, his character and his passion. Others can be present for effect, but deferrals to team members for answers are a sign of weakness.
7. First, get their attention with your elevator pitch. Start with the problem and your solution. These are your hooks, and they better be covered in the first 30 seconds. State your value proposition, and what specifically you are offering to whom. Skip the acronyms, history of the company and the colorful autobiography.
8. Lead with facts, but skip the details. Skip the generic marketing phrases like more user friendly, massive opportunity, and paradigm shifting. "According to Gartner, the opportunity is 100 million by 2015, with 12% compounded growth." Investors don't need to know the implementation details of your patent or customer support plan.
9. Don't forget to ask for the order. How much money do you need, and what percent of your company are you willing give up for that amount? If you want investor interest, the business parameters of a deal should be presented as clearly as the product parameters.
10. Close by asking for questions and promising follow-up. Acknowledging feedback and actually listening for ways to improve will always lead to a positive impression. You should answer questions with data if you have it, but avoid defensive responses in favor of a promise to follow-up after the meeting.
Most importantly, don't forget to practice, practice, practice. Just because you have given a thousand pitches in your life, don't assume you can finesse this one by reading the bullet points in real time from the slides that your team put together for you. You need to be totally familiar and comfortable with your pitch to give it effectively.
Forget the theory that you can "rise to the occasion" and impress everyone with your dynamic speaking ability. If you are pitching the wrong point in the wrong way, the occasion will be more the demise than the rise of your dream.
Marty Zwilling: Ten Ways To Optimize Your Investor Pitch Time
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Friday, April 29, 2011
How to Write Engaging Newsletters – Ariel’s Greeting, Guts, & Getting! | Ariel Publicity
Ariel and her PR team explain the importance of writing an engaging newsletter to your fans, once a month, and the how tos of it:
Are You Still Not Sending Newsletters? A New Study Proves You Should Be…
Boston based research firm Chadwick Martin Bailey has recently completed a study that all musicians should know about.
Here are the important highlights:
“Three-quarters of web users are likely to share content with friends and family, and nearly half do so at least once a week. But while much social networking content is built around such shared items, most people still prefer to use email to pass along items of interest.”
The study goes on to say: “Overall, 86% of survey respondents said they used email to share content, while just 49% said they used Facebook. Broken down by age, the preference for email is more pronounced, as users get older. And only the youngest group polled, those ages 18 to 24, reverses the trend, with 76% sharing via Facebook, compared with 70% via email.
So, if your audience is older than 24 you better be thinking about your newsletter strategy now!
In conclusion the study says: “Rather than focusing on sharing content they thought the recipients would find helpful or relevant (58%), most respondents cared more about what they thought was interesting or amusing (72%).
Here’s the entire study if you want to read it (with lots of pretty graphs too): http://bit.ly/b4dfcI
So, ask yourself: Are you including content in your newsletters that is interesting and amusing. If you are just talking about your next show and or your next release then you may be missing the mark.
Long story short, in the online world, email is still king when it comes to generating revenue. You make relationships with fans on your social networks, and turn them into customers with your newsletter.
Greeting – Make it Personal
Share something non-music related here. Pull people in on a human level. Make them care about you as a person, not just as a musician.
Some ideas:
* Vacation
* Something that you like / a theme of Fun, Beauty etc.
* Whatever you are reading or listening to
* TV and movies you are into, why you liked them
Post photos of these personal touches on Flickr, Facebook, MySpace, your homepage, etc.
Guts – The Body of the Newsletter
What are you up to as an artist? Are you in the studio? Are you touring? Writing new tracks? Remember people love and connect to stories, so TELL STORIES
Getting – Put Readers Into Action With Your Call To Action (CTA)
This is the part of the newsletter that gets your fans to take action. This is the most critical part of the newsletter:
Examples of Calls To Action For Community Building
TIP: Do these before any Calls to Action asking for $
* Follow on Twitter
* Like your Facebook Fan Page
* Listen to a new track on MySpace and friend you
* Vote for you in any contest you may be in
* Comment on your blog
* Review you on iTunes, Amazon or CD Baby
* Invite them out to hang with you at a bar, club, coffee house, another person’s show, etc. This is great for bonding with fans on another level.
* Have them watch a video of you on YouTube & subscribe
* Send them a survey to fill out or a contest to participate in
* You could also simply ask them to have a free download – a special gift makes you memorable!
Examples of Calls To Action For Money (once you’ve developed rapport)
* Invite them to an upcoming show
* Invite them to buy your music iTunes, or CD Baby: 1 track or a whole album
* Sell a merch item – a hat, a T-shirt, etc.
* Let them know that you play backyard BBQs and private parties; have them email you if they are interested (money maker!)
* Record personalized songs upon request (money maker!)
TIP: There should only be one Call to Action per newsletter. Fans will get confused and choose nothing if they have more than one choice.
A Note About Subject Lines
Keep your subject line short and sweet; no more than 55 characters!
Studies show that including the reader’s first name in the subject line grabs their attention and increases your open rate (the amount of people who open your email).
Most newsletter management programs can easily insert first names right into the subject line; please consult with yours on how to do so.
Send Newsletters Regularly & Consistently
It is important to deliver your newsletter letter on a consistent basis. Fans will look forward to this email every month.
I recommend sending out newsletters once a month. Plan the issues in advance that you will send out your newsletter. Separate yourself from the countless artists who never hold themselves accountable, and stick to a consistent schedule; your fans will notice.How to Write Engaging Newsletters – Ariel’s Greeting, Guts, & Getting! | Ariel Publicity
Are You Still Not Sending Newsletters? A New Study Proves You Should Be…
Boston based research firm Chadwick Martin Bailey has recently completed a study that all musicians should know about.
Here are the important highlights:
“Three-quarters of web users are likely to share content with friends and family, and nearly half do so at least once a week. But while much social networking content is built around such shared items, most people still prefer to use email to pass along items of interest.”
The study goes on to say: “Overall, 86% of survey respondents said they used email to share content, while just 49% said they used Facebook. Broken down by age, the preference for email is more pronounced, as users get older. And only the youngest group polled, those ages 18 to 24, reverses the trend, with 76% sharing via Facebook, compared with 70% via email.
So, if your audience is older than 24 you better be thinking about your newsletter strategy now!
In conclusion the study says: “Rather than focusing on sharing content they thought the recipients would find helpful or relevant (58%), most respondents cared more about what they thought was interesting or amusing (72%).
Here’s the entire study if you want to read it (with lots of pretty graphs too): http://bit.ly/b4dfcI
So, ask yourself: Are you including content in your newsletters that is interesting and amusing. If you are just talking about your next show and or your next release then you may be missing the mark.
Long story short, in the online world, email is still king when it comes to generating revenue. You make relationships with fans on your social networks, and turn them into customers with your newsletter.
Greeting – Make it Personal
Share something non-music related here. Pull people in on a human level. Make them care about you as a person, not just as a musician.
Some ideas:
* Vacation
* Something that you like / a theme of Fun, Beauty etc.
* Whatever you are reading or listening to
* TV and movies you are into, why you liked them
Post photos of these personal touches on Flickr, Facebook, MySpace, your homepage, etc.
Guts – The Body of the Newsletter
What are you up to as an artist? Are you in the studio? Are you touring? Writing new tracks? Remember people love and connect to stories, so TELL STORIES
Getting – Put Readers Into Action With Your Call To Action (CTA)
This is the part of the newsletter that gets your fans to take action. This is the most critical part of the newsletter:
Examples of Calls To Action For Community Building
TIP: Do these before any Calls to Action asking for $
* Follow on Twitter
* Like your Facebook Fan Page
* Listen to a new track on MySpace and friend you
* Vote for you in any contest you may be in
* Comment on your blog
* Review you on iTunes, Amazon or CD Baby
* Invite them out to hang with you at a bar, club, coffee house, another person’s show, etc. This is great for bonding with fans on another level.
* Have them watch a video of you on YouTube & subscribe
* Send them a survey to fill out or a contest to participate in
* You could also simply ask them to have a free download – a special gift makes you memorable!
Examples of Calls To Action For Money (once you’ve developed rapport)
* Invite them to an upcoming show
* Invite them to buy your music iTunes, or CD Baby: 1 track or a whole album
* Sell a merch item – a hat, a T-shirt, etc.
* Let them know that you play backyard BBQs and private parties; have them email you if they are interested (money maker!)
* Record personalized songs upon request (money maker!)
TIP: There should only be one Call to Action per newsletter. Fans will get confused and choose nothing if they have more than one choice.
A Note About Subject Lines
Keep your subject line short and sweet; no more than 55 characters!
Studies show that including the reader’s first name in the subject line grabs their attention and increases your open rate (the amount of people who open your email).
Most newsletter management programs can easily insert first names right into the subject line; please consult with yours on how to do so.
Send Newsletters Regularly & Consistently
It is important to deliver your newsletter letter on a consistent basis. Fans will look forward to this email every month.
I recommend sending out newsletters once a month. Plan the issues in advance that you will send out your newsletter. Separate yourself from the countless artists who never hold themselves accountable, and stick to a consistent schedule; your fans will notice.How to Write Engaging Newsletters – Ariel’s Greeting, Guts, & Getting! | Ariel Publicity
Strategy and steps for online shameless self-promotion
Cut from an interview Dave did with Ariel PR:
Dave Carter: Based on the Musicadium study I think it comes back to basic marketing – deliberately and thoughtfully construct a web presence that engages the type of people you want to speak to through media they use. This sounds simple but in practice it can be very difficult and requires a lot of trial and error.
Step One: Find Them & Strategize
Figure out whom you want to talk to, where they’re listening and what you have to offer them. Then develop a strategy that helps you attract and engage your target audience through the types of media and services they use. An effective promotional strategy is useless if it doesn’t result in outcomes that mean something to you and so it’s also important to think about what you actually want to get out of the exercise (a bigger email list? more punters at gigs? better gigs? increased merch or recording sales? radio airplay?) and how you will achieve this.
Based on my observations very few of the artists studied had considered their online strategy in this way.
Step Two: Start in the Real World
My own personal advice to artists just starting out would be to make sure you’ve got something happening off-line – this doesn’t have to mean international touring or massive radio exposure but I think that for most people the online space is still an extension of the real world. Your online promotion should to be an extension of your off-line promotion and they should both result in outcomes that mean something to you.
As a starting point I would suggest a new artist might want:
– Something that tells the world who they are, what they’re doing (gigs etc.) and find out more about them (like a website)
– Some sort of regularly updated content like a blog, vlog or similar
– A way to communicate with their fans, like a Facebook page or similar
– Third-party hosted streaming content, ideally in a format that can be easily shared such as YouTube videos and streaming widgets. I’d include Myspace pages and Flickr photo’s in this category.
– Downloadable content (this could be through digital retailers but doesn’t have to be)
– A way for fans to give them something of value (not necessarily money and not necessarily in exchange for downloadable content)
– A way to collect information from their fans (email, location) that can be used to promote future events / releases via email
– Links between each site and service the artist is using, with prominent links to content, ways for fans to give them their details and / or something else of value.
This might be as simple as a Blog (who you are and what you’re doing with updated content), Twitter account (communication with fans), Last.FM page (streaming content), an email list (collecting information on fans) and having recordings distributed via the iTunes Music Store (downloadable content in exchange for $).
It’s not the tools that count it’s how you use them…
But for this to be effective the artist involved would need to really work at building a fan-base through these services and off-line activities. It’s not the tools that count it’s how you use them.
Dave Carter: Based on the Musicadium study I think it comes back to basic marketing – deliberately and thoughtfully construct a web presence that engages the type of people you want to speak to through media they use. This sounds simple but in practice it can be very difficult and requires a lot of trial and error.
Step One: Find Them & Strategize
Figure out whom you want to talk to, where they’re listening and what you have to offer them. Then develop a strategy that helps you attract and engage your target audience through the types of media and services they use. An effective promotional strategy is useless if it doesn’t result in outcomes that mean something to you and so it’s also important to think about what you actually want to get out of the exercise (a bigger email list? more punters at gigs? better gigs? increased merch or recording sales? radio airplay?) and how you will achieve this.
Based on my observations very few of the artists studied had considered their online strategy in this way.
Step Two: Start in the Real World
My own personal advice to artists just starting out would be to make sure you’ve got something happening off-line – this doesn’t have to mean international touring or massive radio exposure but I think that for most people the online space is still an extension of the real world. Your online promotion should to be an extension of your off-line promotion and they should both result in outcomes that mean something to you.
As a starting point I would suggest a new artist might want:
– Something that tells the world who they are, what they’re doing (gigs etc.) and find out more about them (like a website)
– Some sort of regularly updated content like a blog, vlog or similar
– A way to communicate with their fans, like a Facebook page or similar
– Third-party hosted streaming content, ideally in a format that can be easily shared such as YouTube videos and streaming widgets. I’d include Myspace pages and Flickr photo’s in this category.
– Downloadable content (this could be through digital retailers but doesn’t have to be)
– A way for fans to give them something of value (not necessarily money and not necessarily in exchange for downloadable content)
– A way to collect information from their fans (email, location) that can be used to promote future events / releases via email
– Links between each site and service the artist is using, with prominent links to content, ways for fans to give them their details and / or something else of value.
This might be as simple as a Blog (who you are and what you’re doing with updated content), Twitter account (communication with fans), Last.FM page (streaming content), an email list (collecting information on fans) and having recordings distributed via the iTunes Music Store (downloadable content in exchange for $).
It’s not the tools that count it’s how you use them…
But for this to be effective the artist involved would need to really work at building a fan-base through these services and off-line activities. It’s not the tools that count it’s how you use them.
How To Post A Perfect Press Kit On Your Website | Ariel Publicity
How To Post A Perfect Press Kit On Your Website
This is a revised excerpt from my book, Music Success in Nine Weeks, and it talks about an asset that no matter what we all face with new digital solutions, new platforms and apps that we’re going to be forced to learn, we should always remember: Your press kit. It’s up to you to post your press information clearly and succinctly, so that you’re easy to find and write about.
Posting an accessible press kit to share with journalists and new media makers ( bloggers, podcasters, etc.) is good common sense.
Editors need access to your information quickly, because they are constantly under deadline. If you do not make it easy for them to get your information from your site, they may move onto another one of the 50 artists that are playing in their town that same week.
1. YOUR MUSIC – ALBUM OR LIVE TRACKS
Make sure you have some music available at your website or a very obvious link to your MySpace page where people can hear the music instantly. Many newspapers are now including online listings where they include MP3s of artists coming to town, so make it easy for them to grab the tracks to add to their own sites – this is additional excellent exposure for you.
2. YOUR BIOGRAPHY – MUST INCLUDE YOUR PITCH
Make sure you have a short, succinct bio that can be easily located on your site, in addition to the long form one, the blogs and all of the opinions from each band member – which are fun for your fans but not for music writers who will be looking to get quick information. Make sure this bio can be easily cut-and-pasted so writers can drop it into a preview or a column.
CREATE A SHORT VERSION FOR THE CALENDAR EDITOR
Make sure you add your PITCH /USP (Unique Selling Point) as a stand-alone portion to your bio that sums up your sound for calendar editors. It should be no more than 10 words.
TIP: Post 3 versions of your bios
1. Long Form
2. In 50 Words
3. In 1 sentence (10 words or less)
TIP: Make sure the bio can be easily cut-and-pasted!
Do NOT have your bio in Flash format; make sure that editors can easily cut and paste it right off of your site.
3. YOUR PHOTOS – MAKE THEM EASY TO FIND AND DOWNLOAD
Thumbnails are great for quick and easy loading but are detrimental for use in newspapers. You should always have a few downloadable photos on your site in at least 300 dpi / jpg format.
TIP: Create an easy-to-see link that says “click here for a hi res / low res jpg.” That way photo editors can get to them easily. When the photos are downloaded; make sure they are properly named with your name or your band’s name, so that photo editors can find them in folders and on messy desktops!
TIP: Remember to change your photos a few times a year – so if you play the same markets over and over, you can give the media multiple options for covering you.
TIP: Put the band members’ names from left to right (l-r) under the band photo to give journalists a point of reference. (Many publications publish photos with all band members’ names from left to right to save the writers the trouble of having to ask for the names.)
4. INCLUDE YOUR ALBUM COVER & ADDITIONAL ARTWORK
You also want to make sure you include your cover art in both hi res and lo res (jpg format). This way if your CD is being reviewed, the reviewer can download the artwork to add to the review. If you have additional assets like band logos or graphics add them here as well.
5. INCLUDE PRESS CLIPS OR FAN TESTIMONIALS IF YOU HAVE THEM
What you say about you is one thing…. However: What others say about you is trusted in a different way. So, if you have articles that were written about you or great quotes to add from fans – do it! (if you don’t just ask your fans to contribute to your site – they will be happy to do so)
FINAL TIP: Sonicbids.com is a fabulous place to build and maintain a perfect press kit and you won’t need a web designer to help you – so build your perfect press kit there, link to it and VOILA!
Here’s to YOUR SUCCESS!How To Post A Perfect Press Kit On Your Website | Ariel Publicity
This is a revised excerpt from my book, Music Success in Nine Weeks, and it talks about an asset that no matter what we all face with new digital solutions, new platforms and apps that we’re going to be forced to learn, we should always remember: Your press kit. It’s up to you to post your press information clearly and succinctly, so that you’re easy to find and write about.
Posting an accessible press kit to share with journalists and new media makers ( bloggers, podcasters, etc.) is good common sense.
Editors need access to your information quickly, because they are constantly under deadline. If you do not make it easy for them to get your information from your site, they may move onto another one of the 50 artists that are playing in their town that same week.
1. YOUR MUSIC – ALBUM OR LIVE TRACKS
Make sure you have some music available at your website or a very obvious link to your MySpace page where people can hear the music instantly. Many newspapers are now including online listings where they include MP3s of artists coming to town, so make it easy for them to grab the tracks to add to their own sites – this is additional excellent exposure for you.
2. YOUR BIOGRAPHY – MUST INCLUDE YOUR PITCH
Make sure you have a short, succinct bio that can be easily located on your site, in addition to the long form one, the blogs and all of the opinions from each band member – which are fun for your fans but not for music writers who will be looking to get quick information. Make sure this bio can be easily cut-and-pasted so writers can drop it into a preview or a column.
CREATE A SHORT VERSION FOR THE CALENDAR EDITOR
Make sure you add your PITCH /USP (Unique Selling Point) as a stand-alone portion to your bio that sums up your sound for calendar editors. It should be no more than 10 words.
TIP: Post 3 versions of your bios
1. Long Form
2. In 50 Words
3. In 1 sentence (10 words or less)
TIP: Make sure the bio can be easily cut-and-pasted!
Do NOT have your bio in Flash format; make sure that editors can easily cut and paste it right off of your site.
3. YOUR PHOTOS – MAKE THEM EASY TO FIND AND DOWNLOAD
Thumbnails are great for quick and easy loading but are detrimental for use in newspapers. You should always have a few downloadable photos on your site in at least 300 dpi / jpg format.
TIP: Create an easy-to-see link that says “click here for a hi res / low res jpg.” That way photo editors can get to them easily. When the photos are downloaded; make sure they are properly named with your name or your band’s name, so that photo editors can find them in folders and on messy desktops!
TIP: Remember to change your photos a few times a year – so if you play the same markets over and over, you can give the media multiple options for covering you.
TIP: Put the band members’ names from left to right (l-r) under the band photo to give journalists a point of reference. (Many publications publish photos with all band members’ names from left to right to save the writers the trouble of having to ask for the names.)
4. INCLUDE YOUR ALBUM COVER & ADDITIONAL ARTWORK
You also want to make sure you include your cover art in both hi res and lo res (jpg format). This way if your CD is being reviewed, the reviewer can download the artwork to add to the review. If you have additional assets like band logos or graphics add them here as well.
5. INCLUDE PRESS CLIPS OR FAN TESTIMONIALS IF YOU HAVE THEM
What you say about you is one thing…. However: What others say about you is trusted in a different way. So, if you have articles that were written about you or great quotes to add from fans – do it! (if you don’t just ask your fans to contribute to your site – they will be happy to do so)
FINAL TIP: Sonicbids.com is a fabulous place to build and maintain a perfect press kit and you won’t need a web designer to help you – so build your perfect press kit there, link to it and VOILA!
Here’s to YOUR SUCCESS!How To Post A Perfect Press Kit On Your Website | Ariel Publicity
TODAY Show | newsweek: cheatsheet: Tumblr, here’s your...
Cute picture of a child's honest assessment - TODAY Show | newsweek: cheatsheet: Tumblr, here’s your...
Wednesday, April 27, 2011
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