Expert Tips On Attracting Investors, Acquiring & Retaining Customers
On day one of the Wild Digital SEA 2020 virtual conference, we had the pleasure of discovering what it takes to scale your startup today.
It was moderated by Meekco co-founder and chief marketing officer Kathey Tan, who virtually sat down with:
- Shahid Nizami, Managing Director, APAC
- Patrick Steinbrenner, Managing Director, APAC, Insider
- Yuki Isobel, Board Member and SVP International, Geniee
Together they discussed some interesting things they have seen in startups navigating this pandemic.
Throughout the 30-minute chat, they shared their thoughts primarily on how startups can scale through customer acquisition and retention.
1. Have a drink together, practically
The founders must build trust with each other.
Finding and reserving the time to do it is the most important aspect.
Patrick shared his personal experience on how he was able to raise US $ 32 million in Series C funding for his startup amid the pandemic.
It was of course not easy when everything had to be done virtually.
He explained that more than ever, it is important for companies to reach out and reduce the distance between customers and potential investors.
It can even be done casually.
“Just yesterday I met a good friend of our technology partners and we had a virtual beer and chatted. It wasn’t even a business question or anything, it was just to make up for it, ”he said.
2. Seriously, don’t underestimate the power of social media
There is no escape for businesses to have an online presence.
Yuki pointed out that using social media like LinkedIn or Facebook will help founders engage with their customers by simply posting status updates on company processes.
This, in turn, will generate interest and preference on the part of investors.
“It’s similar to a marketing funnel. You start with awareness of your business and then you can dive deep into the intention of the real interest of your potential investors, ”he said.
3. Sharing the right topics with the right people matters
Using social media as a tool to engage with customers is already a tool that many companies are using within the AGC.
Live broadcasts and webinars can reach a large audience.
Shahid pointed out that finding the right topic is essential to get their attention.
“You need to understand what your target market wants to know, what is the value of your attending this webinar?” he said.
Defining the intent of the webinar was also vital.
“Is this for the top or the bottom of the funnel?” You can’t get both all the time, ”Shahid said.
For example, most could get 500 people to market themselves – which is the top of the funnel – or 20 prospects who are very interested and ready to jump into the sales cycle quickly.
There should also be a postmortem on things that went well and did not go well throughout the webinar for best results next time around.
4. Give this killer a shameless follow-up
Patrick pointed out that the next thing to do is provide killer tracking right after the stream.
Hosts should follow up with the right people with relevant content, continuing conversations with questions they asked and points they found interesting throughout the meeting.
“Follow up right away, this is where you get the ROI for your events. If you don’t, don’t expect people to come back to you or follow you next week. “
Indeed, most participants would have already forgotten the conference after attending a few others.
5. Do your main investor research
According to Yuki, tools like CrunchBase and TechCrunch can help engage founders with potential investors.
Founders can gauge the size of their chances with these investors by looking at their business models and the clients they’ve acquired.
“These tools can display information to identify which potential investor would be interested in your startup or mission,” he said.
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In summary, the panelists each gave an example of a tech company that has used innovative ways to capture and retain customers.
Yuki praised mobility apps, especially ones like Grab and Uber which have broadened their revenue streams.
In addition to the hail that was restricted at the time, they have positioned themselves as an essential service by delivering both food and medical supplies around the world.
Netflix, while not a new business, is one that Shahid admired for helping subscribers who had been inactive on their platform for a few months automatically cancel their accounts.
This allowed customers to manage their cash flow in times of shortage.
“It was a really great decision to not only convince long-term customers but also to grow their brand through it,” he said.
Showing that you know how to manage your existing clients and welcome new ones is one way to build investor confidence.
After all, at the end of the day, VCs also have to keep doing their business.
Therefore, founders should always find that connection and set aside time for a conversation in order to make connections.
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Featured Image Credit: Shahid Nizami, Managing Director, APAC; Patrick Steinbrenner, Managing Director, APAC, Insider; Yuki Isobel, Board Member and SVP International, Geniee
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