Strategies for Pitching Customers and Investors
What Surprised Me About Sales Funnels ⏬
At my last startup, I pitched to over 500 customers, over 350 investors, 300 hiring candidates, and a ton of press. I learned that no matter who you're pitching to, you are really following the same sales funnel:
1. Total List of Prospects
🏢 Company List: First, make a list of companies that might need your product or service.
🧑💼 Key Decision Makers: Identify the key decision-makers in these companies.
🔗 Connections: Check how you’re connected to them using LinkedIn. This will be your Cohort 1.
2. Number of Prospects That Respond
💌 Email Your Prospects: Send an email to your prospects.
📊 Track Replies: Monitor how many people respond.
📅 Clear CTA: Ensure your call-to-action (CTA) is clear, aiming to book a meeting.
3. Number of Meetings Scheduled
👋 Follow Up: Once they respond, work on setting up a meeting.
✅ Keep It Easy: Make it easy by sending a Calendly link for a quick 15-minute chat.
4. Number of Offers Sent
🤝 Successful Calls: If the call goes well, outline the next steps clearly.
☎️ Multiple Calls: Depending on what you're selling, this might require a few calls.
📝 Final Goal: The aim is to send a Letter of Intent (LOI) or a contract.
5. Conversion
📈 Conversion Tracking: Measure how many people from Cohort 1 convert into paying customers.
🎯 Revenue Goal: The end goal of the LOI or contract is to generate revenue.
By following these steps, you can create a structured sales funnel that helps you track and optimize each stage of the sales process.
