One of the problems that arose from some lively discussions that begged this q
To that end, here are my top tips on how to sell your ideas to investors. Whether that’s convincing them to stop pursuing MQLS and focus on profitability or convincing them to participate in a share of voice and PR. After all, recall drives profits.
Think Like an Investor.
First, you have to take on this personality. A smart investor makes choices by projecting forward. The method is highly fluid, and the attention is on reading signals, pricing in the risk of disaster, and doubling down on success based on information and agility.
They have to be able to take a confident amount of risk. With this approach, you move away from the myth that every investment has to pay off rapidly, and that you should be able to measure the achievement of each investment at every stage because that’s hardly how the realm of investing—even the most prosperous investing—works.
Then, you can train investors to start seeing digital marketing as less of an on-demand guarantee factory than an internal investment division because that’s really what good online marketing is all about in the first place—picking which resources to install when and where.
Successful investing contains wins, short-term losses, strategic experimentation, and more. And, that’s suitable because we expect that of investments. In outdated marketing, decisions are made looking back. Hence, why do so many brands continue to advertise on the radio when a much better ROI could be achieved somewhere else?
Expand your Terminology.
Once you’ve taken on the inner investor identity, you need to start using language that matches your lens and leads to more allied support based on the investor vs. entrepreneur persona. As an alternative to marketing spending—ask for an investment budget with a spread of tactics.
Before you bring new ideas to the investor, ask your team, “what is our taste for risk?” Inevitably some brands will have a greater hunger for risk than others based on how quickly they want to grow or if they want to enter new marketplaces. Nevertheless, the higher the risk, the higher the reward.
Now, as an entrepreneur, you know that what sometimes senses “risky” to most of the investors isn’t actually all that risky. But, this will take away the burden that every approach has to be a bullseye, and as an alternative puts the focus on end-of-year ROI.
While some of these approaches are easier said than done, you can more successfully pitch your ideas—and even more—help investors see themselves as a market-led company. When a good product or service becomes table stakes, business takes on a whole new level of importance. Sometimes the tide of change is slower than we’d like, but this is one worth fighting for.