Connect with us

Business

Put a Stop to Endless Design Revisions for Clients: A Guide for Agency Owners

Published

on

It’s been well over a decade since I first presented a design to a client, and in that time I have learned a lot. Experience and trials have taught me how to deal with revision requests and how to guide the client towards the best result.

If you’ve also been in this business for a while, you have probably come across a client (or more) “from hell”—as someone so eloquently put it once. Revision requests can become the bane of any agency designer, and being caught up in a never-ending cycle of “change this” and “try that” is anyone’s worst nightmare. This is especially true if you, as an agency owner, are outsourcing the design work.

I’m not saying that revision requests are bad; on the contrary, in a good work relationship they can be a sign of trust, respect, and a way to strive for the best outcome. But when the revisions just keep coming, they’re a strain on the client, the agency, and the designer alike.

Design revisions as standard business practice

As far as the client is concerned, we can assume that the revision requests are just their way of trying to communicate their intention of getting the design they aim for. But we must keep in mind that the client usually can’t explain the intuitive aesthetics perception with words. Sometimes when asking for changes and corrections, the client is just doing their best to communicate their ideal.

An outsourced designer, on the other hand, works with the “data at hand.” They can only interpret the information they receive from the agency, and create a design based on that. And this can become a problem. If the agency is interpreting and filtering the client’s ideas, they can nudge the designer into their own desired direction. But this isn’t always a correct interpretation, and the game of revisions and design versions begins.

So what you can do about it? There’s no way to eliminate the need for revisions, but there are ways to significantly reduce the number of revisions. The more you understand what a client wants and the goals they’re aiming for, the more likely you’ll be able to provide your designer with the information necessary to create the design your client wants from the start.

diagram illustrating Difference Between Panic and Peace of Mind in the design process

Select the right designer for your project

The first question is, who should you outsource to? In recent years the number of companies offering cheap design work with unlimited revisions has grown considerably. They are a response to the need of agencies to keep their costs down. For certain types of projects, this works perfectly well.

A company offering “unlimited revisions” is only doing so because they are not the “crème de la crème” on the market—and they know that. Hence, they counterbalance it by offering to do as many revisions as needed. “Unlimited rounds of revisions” either says a client can’t make up their mind, a client is unprepared, or a graphic designer can’t get things right.

But the goal of a design project should not be about wandering in the land of revisions. Design professionals aim to complete their work in a reasonable amount of time and with as few rounds of revisions as possible. There are plenty of white label design agencies and freelancers who are more than capable of delivering good results. Outsourcing to a mid-tier designer should be where you start.

Get as much information as you can from the client

Selecting the designer can be either your first step or your last step. Regardless, your first task should be to collect as much information as you can from your client. You have to make sure that you truly understand what the client is expecting from you.

ALSO READ:  Airbus plans demonstrator for hydrogen plane by mid-decade

Your client is not an expert—this is why they hired you in the first place. If you can, have a conversation with the designer before telling your client that you have everything you need from them. Find out whether your designer has any additional question or requires further explanations on certain aspects of the project.

Manage your client’s expectations during the design process

Explain to the client exactly what the deliverables will be, what programs will be used to create the design, what types of files you’ll provide, and how many revisions are included in your quote. Otherwise, you may find yourself in the situation where you deliver a design done in Photoshop and your client asks you for a Word version instead (which might almost double the time that your designer will spend on the project). Or you get more revision requests than you accounted for when you calculated your investment for the project.

A client may not know exactly what constitutes a “round of revision”—it can be a vague term for someone not familiar with design jargon. You should explain what constitutes a round of revisions, which is certainly not a complete redesign.

In your proposal, clearly specify number of rounds of revisions included in your proposal, or a fixed amount of time that you believe will be needed for revisions. Mention the surcharge which will be applied for additional time spent on revisions.

Make sure you work with decision-makers

The worst thing that can happen is working with a large company with multiple contacts—and I’m talking from experience. In situations like this, things tend to go two ways: you either rock the design and there is a consensus of WOW (fat chance of that happening), or your “contacts” are (usually) lower-ranked employees who overnight have become art critics—and that spells disaster. These critics will all have their own vision on how the design should look like, and they will all want to impress the boss. If you end up in a situation like this, there are two reasonable solutions:

  1. Convince the boss to select one person to be the only point of contact besides the boss, and they both should attend your meetings.
  2. You reject the project out of hand. If you don’t, you risk an endless mess of contradictory feedback, revision requests, and will probably end up losing the client—or your mind.

Not all clients are a good fit

It’s important to have a system that will filter out clients who are not a good fit. Most marketing agencies do a qualification call just for this purpose. I’m sure most of you already have a list of red flags, but here are a few that we often encounter:

  • Lack of respect from clients who repeatedly fail to show up at meetings.
  • Micromanaging the process.
  • Looking to cut costs and belittling your expertise by saying things like, “This shouldn’t take more than ‘X’ hours; my son could probably do it in a couple of hours if he put his mind to it;” or “I could do it myself, I just don’t have the time.”
  • Clients who come to you with a design that’s partially done but just want “a few improvements.” Most of the time, those little improvements will take just as much time as a complete redesign (if not more) and the client will expect to pay less than they would for a brand-new design
  • Clients saying things like, “I want to be blown away when I see the design;” “I want the WOW factor;” “I want to be impressed;” etc. This usually suggests unreasonable expectations which are not focused on coming up with an effective design that would be suitable for the company’s target audience, but rather appealing to the client’s personal preferences or their desire to impress friends and family, which is highly subjective and will most likely have a negative impact on their efforts to generate leads for their business.
  • Clients collecting proposals from many other companies or requesting “free samples” to help them decide whether they want to work with you or not.
  • Clients who have tried several other agencies before. This can definitely happen, but it’s also possible that the problem was the client, not the service provider, so you should find out why the client was unhappy with their previous service providers before deciding to take them on.
ALSO READ:  China urges U.S. to stop interfering in Venezuela’s internal affairs: FM spokesperson

How to successfully present a design to your client

Ideally, when it’s time to present a design, you will have developed a solid, trust-based relationship with the client, and you’ve collected relevant information about their business and their expectations and goals. This allows for a delicate, but more candid conversation.

Here are some of the steps we’ve implemented through the years as far as design presentation goes:

  • The best way to present the design to the client is in a meeting, not through email. You can send the design to the client via email shortly before the meeting begins, but don’t give him/her days to evaluate it before the presentation.
  • Make sure you understand the logic behind all the design choices that have been made. Have the designer provide you with explanations you can refer to when you present the design to the client. Understanding what impact each design choice has on the user experience, on conversions, and on project goals will not only minimize revision requests, but will also be proof of your professionalism which will fortify your relationship with your client.
  • Encourage the client to NOT consult their friends and family about the design, but instead try and look at the design from their target audience’s point of view. An effective conversion-focused design will appeal to the target audience. Trying to please everyone is not only impossible, but can have a negative impact on conversions.
  • Never offer multiple concepts to choose from (unless we’re talking about a logo design). Instead, show the client one design that you consider to be the best solution for their business. Presenting more than one option is practically forcing them to become art directors or marketing specialists, and having to figure out what they’re paying you to figure out. In many cases, clients will ask for a combination of the designs that you provide, which could end up being the worst possible design choice, since combining completely different designs can have a disastrous effect on both the visual aspect and the user experience.
  • If the client has any objections to the design presented, you can either explain your design choices, explain how those changes will affect conversion, or ask your designer to come up with a compromise which will both please the client and avoid having a negative impact on the effectiveness of the design.

Mood boards: To do or not to do

Many marketing agency owners choose to present one or more mood boards (a collection of ideas) to their clients prior to doing the actual design. The majority of clients, however, don’t understand the purpose of mood boards, and aren’t qualified to decide on a design style or direction after seeing a mood board. Also, if the client is not qualified to decide what the best design approach should be, their choice can have a negative impact on conversions and marketing if they choose a design style that’s not the best option for their target audience.

ALSO READ:  Zuzuche scores tens of millions of Dollars in Round-D Financing

Mood boards are best used when working with an outsourced white label design services provider and your creative director wants to make sure that the designer fully understands the design approach that your company is looking to get. A professional designer is able to interpret a mood board, and having one can save time and minimize the amount of changes if your designer knows exactly what they’re expected to deliver.

How to obtain the best results from your designer

The best way to minimize revisions is to make sure your designer fully understands the project requirements. This can be established through a few simple steps:

  1. Provide a clear and concise project brief.
  2. If you do discovery with your clients, you can share with the designer the information gathered from the discovery meetings that is relevant to the design (list of your client’s competitors, ideal customer persona and other information about your client’s business, client’s goals, client’s target audience, examples of designs that the client likes/dislikes).
  3. Don’t be reluctant to answer questions. Many agency owners don’t want to be constantly bothered with questions by their designers; however, it could save time if things are clarified before the work is done, rather than having to spend a lot of time later making adjustments and trying to compensate for things that have been overlooked in the project brief.
  4. Have the copy ready.
  5. If you order the copy after the design is completed, then provide a wireframe, or ask the designer to come up with a wireframe, prior to moving forward with the actual design. This will ensure you’re both on the same page and it’s much faster to revise a wireframe then a finalized design.
  6. Provide clear feedback. Rather than telling the designer exactly what to do, you might want to explain in your own words what the problem is and ask them what they think the best solution should be. You might be surprised to find out there are options that you haven’t considered. When you work with an experienced designer, it’s like going to the doctor: they tell you how to fix the problem and don’t expect you to decide what the best treatment should be.

Successfully manage the client relationship during the design process

Managing client relationships is a delicate matter with many nuances. These strategies have helped us refine our client communications and develop positive relationships that are crucial to our business success.

If you set expectations upfront, keep clients informed every step of the way, and work with a professional outsourced designer, you can stem the flood of revisions by explaining the entire design process and the logic behind your work.

If you stay professional, create a great design piece, and can explain to clients your reasons for doing things a certain way, clients will appreciate all the hard work you’ve put into paving their way for success.

Via AB

Continue Reading
Advertisement
Click to comment
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Business

HUDSON HOMES MANAGEMENT IS UNDER FIRE FOR THE VIOLATION AND NEGLIGENCE OF TENANT’S RIGHTS

Published

on

A popular property management company, Hudson Homes Management, which operates out of Texas, is currently facing an uphill battle to maintain its image. This is after hundreds of reports and complaints from tenants about the dismal real estate services provided by the company and the deplorable state of their properties. Tenants have described the company’s unjust and fraudulent acts extensively. Their misconducts have been long overlooked but now coming to light.

Recently, a noted doctor and tenant of this company was residing in Gwynedd Valley Pennsylvania reported the company’s lackadaisical attitudes and incompetence. As expressed by numerous others was additional security deposits for no justifiable reasons, ill conditions regarding repairs that were promised to be completed prior to move in; the lack of property inspections, not upholding management agreements and falsifying information in order to obtain an eviction. notice given to him. Documented issues included, a faulty furnace that was red tagged and shut down by Peco for being a fire and health hazard. The tenant had reported the furnace issues upon move in but it was almost a year later when it was inspected and confirmed hazardous only following having a negative effect on the residents health, There were floods that later resulted in mold as repairs were never completed. There was even sewage continuously leaking in the basement even up to the day they filed for eviction, even after having guaranteed to complete repairs and discount the rent, only to have locked the tenant out of the payment portal so as to then falsely claim nonpayment.

ALSO READ:  WHATSAPP Privacy Concerns Affecting Public Data -MOIT&T Pakistan

This is highly despicable because a tenant gains a set of rights that must be respected and adhered to when he or she signs a tenancy agreement. Property management companies should be legally held accountable for structural and utility maintenance such as the repair of electricity, water supply, gas safety checks, smoke alarms, and human habitation that is free from hazards. Homes act 2018 enables a client or tenant to take a landlord to court if the property isn’t fit for human habitation.

In addition, a property manager is not allowed to issue a quick eviction notice without following maximum legal procedures. You can sue a property manager for illegal eviction under the Protection of Eviction 1977 which will result in a fine or two years in prison for the company.

As a result of these facts, Hudson Homes management should be prosecuted without compromising legal proceedings. Tenants’ rights should be protected and not defrauded.

However, depriving tenants of their benefits can also be regarded as harassment. Tenants are protected by the Eviction Act 1977 which provides an additional right against criminal fraudsters like Hudson Homes and property management. The Act identifies that physical eviction of a residential tenant and refusal to carry out repairs are criminal offenses. It also describes the prevention of tenants from exercising their rights under the tenancy agreement as dubious and illegal. It is imperative to hire a local lawyer who is well-versed in the law of your jurisdiction and has experience handling property management disputes. The disputes will be settled in court based on the laws and procedural requirements enacted in a particular state.

ALSO READ:  Set Yourself Up for Financial Success With a Budget Calendar

In conclusion, the Hudson Homes Management company has taken on more than it can chew. They have provided illegal services to their clients and thereby tarnished their image. They should be regarded as modern-day slumlords that are only out to defraud and extort their tenants unjustly. Human rights activists and the general public should condemn these atrocities. Tenants should stand up for their rights and seek justice. A fraudulent home and property management company must be punished by legal practitioners for making their tenants uncomfortable and depriving them of their rights.

contact info;

Email:[email protected]

Continue Reading

Business

How to use Instagram for business

Published

on

Instagram isn’t just a social media app full of Love Island influencers and hilarious memes.

It is also a vitally important tool for commerce, with 90% of its users following at least one business account and 44% of them using the platform to shop weekly, according to Instagram’s latest internal data.

It would be a missed opportunity to not use this platform to showcase your brand. But we understand that getting to grips with the business side of Instagram can be a time-consuming and complex task, particularly if you are not very social media savvy.

If you’re low on time and require a bit of support in launching a successful Instagram strategy, we’d advise reaching out to an agency for a little help to enhance your efforts. In fact, if you have two minutes spare, you can use our digital marketing cost comparison tool and see what social media support is available within your budget.

They employ seasoned Instagram pros who will help save you time and money in the long run – and these services often cost much less than you think!

Or read to discover our easy-to-follow, step-by-step guide that will help you gain that highly sought-after verified account tick in no time.

Step 1: set up a business account

If you are one of Instagram’s two billion monthly users, there is no doubt you already know how the platform works.

But note that one of the fundamental rules of setting up your business on Instagram is to make sure it is set up as a business account.

This type of account is very different from the personal account you may already have.

We’ve listed some of its unique features below.Instagram business account features let you:

  • Boost your posts and advertise to a target audience
  • Access Instagram insights to monitor post and ad performance
  • Add business info, including opening hours, location and contact methods
  • Add call-to-action buttons to direct Instagram users to your website
  • Sell your products in the app via the Instagram Shop functionality

Step 2: create an effective Instagram strategy

Before you run in all posts blazing, any digital marketing professional will tell you it is integral that you put together a solid Instagram strategy.

Get together with other members of your team and think carefully about:

Finding your target audience

Consider the demographic you are trying to reach. Over 60% of all Instagram users are aged between 18 and 34 years old. Think carefully about your product/brand and work out your ideal customer. What are their interests? What kind of content will most engage them? What will make them choose you over your competitors?

Tracking insights

It is important to make use of Instagram’s insight functionality. Regularly and routinely track the performance of your posts to understand what engages your followers. Analysing engagements, click-throughs, and calls to action will help you paint a picture of what content works for you and what doesn’t.

Setting objectives

Having goals to achieve will help keep you motivated and focused. When running a small business, it is often easy to lose sight of the marketing side of things. But setting targets will ensure you spend time on your Instagram strategy and post regularly.

Using a task/project management app

Scheduling Instagram posts is incredibly important to ensure you post consistently. Using task management apps like monday.com will make it easy to create a content schedule. Think about how frequently you want to post, and if there are any tentpole days you want to take advantage of such as Earth Day, International Women’s Day, etc.


Step 3: create captivating content

Instagram is a platform to sell your brand. If you owned a jewellery store and wanted to attract customers inside, you wouldn’t put your worst, most unattractive wares in the shop window. You would showcase your most fabulous diamond-strewn designs to entice customers.

Try to think of Instagram as the shop window for your business. You want it to look as aesthetically pleasing as possible in order to attract users. This means the content you create needs to look and feel professionally designed.

ALSO READ:  WHATSAPP Privacy Concerns Affecting Public Data -MOIT&T Pakistan

This is the most common and important method of posting content as it helps you build your brand profile aesthetic. It is important to make sure you add professional-looking photos that have been edited and sized correctly. You should post recurring themes so that your brand’s visuals are easily identifiable.

If you haven’t got the money to hire a graphic designer, Canva is an affordable, easy-to-use design tool that we would recommend you use to get started.

Instagram reels for business

Having a video marketing strategy is integral to your business’s success on Instagram. 91% of Instagram users watch videos weekly on the platform, so if you aren’t creating videos you are missing out on a great opportunity to gain new followers and turn them into paying customers.

Creating a reel is super easy and simple, but keep in mind that the videos can only be up to 60 seconds long.

You’ll have a great set of editing tools at your disposal when using Instagram reels. Use them to make engaging, fun video footage and showcase your brand.

Over 50% of Instagrammers have visited a website to buy a product or service as a result of seeing it on an Instagram story. And with more than 500 million people watching Instagram stories every day, that percentage is huge.

So in short, make sure you are posting stories regularly – this will even help you engage existing followers through the use of polls, Q&A sessions and sliding interaction bars.

It can also encourage users to visit your website, follow a brand you are collaborating with, or share a recent post you have uploaded.

Other ways to create content on Instagram include:

  • Live feed – Live feeds are becoming increasingly popular on Instagram and are a great way to engage your followers because they can tune into your content in real time.
  • IGTV – This is a long video format that is ideal for any recurring content series.

Step 4: optimise your profile for business

So you’ve got eye-catching content and a foolproof Instagram strategy – but is your profile ready/open for business?

Before you start growing your Instagram profile, be sure to make use of the following:

  • A strong profile pic – even if it’s expensive, get yourself a professional to design you a logo for your social media accounts. The last thing you want is for users to think your pic is tacky. Remember, we make visual judgments in the first seven seconds, and this applies to Instagram too.
  • A concise, intriguing bio – you only have 150 characters (just over two sentences) to show off your brand, so explain what you do succinctly and do it in your brand’s tone. Add a CTA if you have space.
  • A link in your bio – unlike other social platforms, you can’t attach links to your Instagram posts, so it is incredibly important to include a link in your bio instead. Be very strategic about where this link sends people – will it be directly to your website? Or will it be to a landing page such as Linktree which allows you to share links to several pages?
  • Contact information – keep email addresses and phone numbers up to date so your followers can contact you easily.
  • Story highlights – organise your stories into saved collections on your profile so users can get a taste of your brand in just a few clicks.

Julaine Speight, director at award-winning digital marketing agency First Internet, offers us her advice:

“Ensure you have permanent stories on your profile, as they will provide clients and customers with key highlights and important business messaging that can be seen at a glance. This is a great way for you to promote different services or products.”

ALSO READ:  How to use Instagram for business

Step 5: grow your following

It’s all well and good having everything in place for your business on Instagram, but without an audience to engage with, it’s pointless.

You’ll find one of the hardest things to do on the platform is to get noticed and followed by users.

But don’t stress – there are lots of ways you can attract audiences and have followers jumping from the tens to the thousands in no time, including:

Hosting a giveaway

Lots of successful brands have gained followers by organising giveaways in the form of a competition. Typically a brand will ask Instagram users to follow an account, share a post, or comment on a post by tagging a friend. In return, users have the opportunity to win free products or services from the brand – and who doesn’t like free stuff?

Giveaways are a great way to create additional post engagement and reach a wider audience, and working in collaboration with other brands to offer extra prizes will help make the competition a huge success.

Running followers-only promotions

Another way to encourage more followers and retain existing ones is to offer exclusive sales to users that follow you. Offering flash sales and promotions gives your followers a reason to stick around in the hope of future deals.

Being proactive – respond to comments and follow target audience accounts

The more you engage with users, the more likely they are to keep following you and spreading positive feedback about your brand.

Commenting on another brand’s posts is a great way to get noticed, as is following and interacting with your competitor’s audience who will likely be interested in the same products/services that you offer.

Promoting your Instagram account on other channels

A sure-fire way to gain more followers is to let people know about your Instagram business account, particularly if you are already well established on other social media platforms like Facebook or Twitter.

Also, be sure to include visible and clear links to your Instagram on your website and any marketing materials like newsletters or emails.

On the dangers of cutting corners when growing your audience, Petra Smith, founder of marketing consultancy Squirrels&Bears, stresses:

“Quick solutions don’t lead to long-term success. For brands that are keen to appear bigger than they are, without doing the legwork, buying new followers and artificial engagement is a common approach. But many brands are then surprised to see how quickly those followers start to disappear again.

“The reason is that followers purchased in bulk packages are either bots or inactive accounts, and Instagram continuously works on removing any follows, likes, or comments from third-party apps that are designed to artificially grow audiences and engagement.”


Step 6: use hashtags

When it comes to Instagram, it doesn’t get more important than hashtags.

Because captions on Instagram are not searchable, one of the only ways non-followers will be able to see your content is if someone clicks on or searches for a hashtag used in your content.

This is why it is important to use the right hashtags.

Philip Bacon, Director of Bacon Marketing, on hashtags: 

“Like a creme egg, one hashtag is never enough. There is a fine balance on how many to add to a post. A handful of super generic ones are going to do diddly for your reach, same as maxing out at 30 on the post, not only is it crowded, it looks untidy, and it smells of desperation.

“The magic number has a three in it. 13 – 15 hashtags, a mix of high volume and niche lower volume ones will serve you well. On top of that, make them accessible by capitalising the first character of each word.”


Step 7: collaborate with influencers

Instagram is the preferred social media channel for brands engaging in influencer marketing, so you can feel confident that it is worth the effort and (sometimes) expense to collaborate with an influencer when 93% of marketers are using this strategy to grow Insta accounts.What is influencer marketing?

ALSO READ:  OIC Envoy discussed HR Situation in IOK with Minister Kashmir Affairs

Influencer marketing is the collaboration between an online influencer and a brand. The relationship typically involves the influencer marketing a brand’s product or service to their followers.

Try to find an influencer who fits the ethos of your brand, someone who epitomises your target audience is likely to have lots of followers with similar interests and outlooks so they will be more likely to purchase your product or service.

Smaller but still well-established influencers are your best bet when starting out, as you typically won’t have to pay them to collaborate. Instead, offering them free products or services in exchange for the promotion of your brand will be enough.

On working with influencers, Anna Wilson, Head of Digital Development at Tangerine Communications, says:

“An influencer partnership is at its most valuable when it feels natural and is cohesive with your brand and the influencer’s feed.

“Step 1, make sure you find the right people, either search on Instagram or use an influencer profiling tool like Klear. Step 2, make sure you don’t ‘control’ the process too tightly or the content will be overlooked/ignored. Step 3, make sure you follow the ASA guidelines (it must be labelled as sponsored content). Step 4, review it to see if it did what you set out to do.”


Step 8: advertise your business on Instagram

Growing your account organically is amazing (and doesn’t cost you a dime), but sometimes it literally pays to boost your posts.

Instagram ads are a form of paid social media, which means you can pay for your content to appear in someone else’s feed who otherwise may not have seen it.

By advertising your brand on Instagram you will be able to:

  • Reach the right audience with advanced targeting – changing options such as location, age, and even interests
  • Maintain higher engagement rates
  • Track your Instagram campaign performance

Isobel Burns, the founder of Digital Marketing Engine, offers her insight: 

“Advertising on Instagram is incredibly effective for growth and sales. The Feed tends to generate more sales, whereas Stories and Reels bring in a wider audience.

“Structure your ad campaign to be as broad at the top as possible, capturing more of the right people, and then retarget your ads in their feed with strong calls to action.”


Step 9: measure and celebrate your success

Make sure to consistently monitor Instagram’s insights to determine how well your brand is performing on the platform month on month.

Organising retro meetings to discuss what is working well and what isn’t in terms of your Instagram strategy is an efficient way to analyse important stats like engagement rates and follower growth so that you can plan for future Insta campaigns.

Most importantly, reward all of your hard work by celebrating your successes. It isn’t easy mastering the art of Instagram for business, so when you do, be sure to shout about it!

Using Instagram analytics

In short, Instagram analytics enable you to understand the overall performance of your business account, and at a more granular level, help you determine how successful your posts are.

Also known as ‘insights’, Instagram analytics are fundamental to any successful Instagram strategy as they can help you reach new audiences, improve your content strategy and target the right people.

Insta analytics give you a more detailed breakdown of important data, including the location of accounts reached, the age ranges of your followers, and even their most active times on the app.

This helps you paint a picture of the type of users that are engaging with your account. In turn, this will make it easier to plan your content strategy based on what works currently and what doesn’t.

Via Startups UK

Continue Reading

Business

8 Tips for Communicating With Your Angel Investors

Published

on

What is one tip to improve communication between entrepreneurs and angel investors? We posed this question to small business owners and investors and asked them to share their best advice. From thinking strategically when sharing problems to keeping communication meaningful, here is how to communicate with an angel investor, and ultimately, build a stronger relationship.

1. Be strategic when sharing problems

“Never forget that your angel investors likely have expertise beyond your own, and that they’re one of the most valuable resources in your entrepreneurial journey. When you’re facing small difficulties or tough decisions, the impulse can be to hide them from investors out of fear, which can end up being a waste of their knowledge. Touching on a few strategic issues that you’re dealing with as part of your update can leverage their expertise, and can also strengthen their trust in you.

“Do be strategic about it—some problems aren’t theirs to solve—but asking for help can end up serving your business best, and can build stronger relationships with your investors.”
—Stephen Light, Nolah Mattress

2. Don’t sugarcoat it

“Angel investors get in early and do not expect perfection. They know it is going to be a learning process to determine product/market fit. Share the good news, but also the learnings and pivots. They are eager to help you brainstorm on solutions and will do introductions to make you successful. If you don’t ask for help you won’t get it.”
—Michelle Tinsley, YellowBird Holdings Inc.

3. Be precise—investors hate uncertainty

“Sometimes, entrepreneurs forget the slight difference between risk and uncertainty. While the first term is measurable, the second is not. Investors, especially business angels, put their money into innovative projects, which might seem quite insecure at first. However, it is only a misleading impression because investors’ exposure to the risk is calculated in detail.

ALSO READ:  Top 5 business books entrepreneurs should be reading on World Book Day 2022

“So my advice is simple: avoid uncertainty. But what does it mean exactly? Well, the relationship with a business angel is like talking with parents. Mom and dad don’t need to know everything about their child’s life, but they enjoy the child’s growth. The same is true when dealing with investors; they need to feel comfortable estimating their risks.

“For this, they need clear, transparent communication concerning any necessary information about a project’s progress. Therefore, it is advisable to have actual numbers that the company will regularly deliver to its business angel from the start of the partnership.”
—Tytus Golas, Tidio

4. Focus on milestones

“Send updates that are valuable to your investors. That might include things like progress on your product, growth in user engagement or acquisition, new partnerships or hires, and any significant milestones you’ve hit.”

—Claire Westbrook, LSAT Prep Hero

5. Include as much data as possible

“Investors want to see where their money is going. By providing updates containing as much data as possible, you are painting a full picture of your business and giving them the tools to figure out how to best support your business moving forward.”
—Lauren Murdock, Mainvest

6. Set frequency and method expectations

“Because investors are mostly busy people, there’s no assurance that the regularity and style of communication you prefer will work for them and their schedule. As a result, it is critical to establish clear expectations with them from the outset, such as how many times a month updates are to be sent and what type of communication will be used.

ALSO READ:  Airbus plans demonstrator for hydrogen plane by mid-decade

“Some may prefer to get updates by email, while others may prefer a brief phone call. Furthermore, some investors prefer to receive updates at least once a week, while others are content with only one update each month. It is critical that you hold a formal meeting to establish reasonable expectations regarding frequency and methodology so that you can devise an approach that benefits both parties and is efficient and productive.”
—David Bitton, DoorLoop

7. Send out monthly email updates

“Although a lot of angel investors are generally low maintenance, they still would love to be updated on the status of their investments. Make your investors feel recognized by sending monthly updates of how things are going. The goal is to help them understand how their investments are doing and to provide them with clear points of engagement with the CEO.

“Consistent communication is the key—a short monthly email in a clear and easy format that covers markets, products, finances, and customers will do the job. Make sure to put everything in the email body itself and not via an attachment so that the recipients can read and respond to your message easily.”
—Kris Lippi, ISoldMyHouse.com

8. Consistent outreach is a must

“Consistent outreach is one of the keys to building strong relationships with angel investors, and regular updates are never something that you want to let slide. When communication is routine and habitual, the other hallmarks of a good relationship are easier to build—trust, respect, mutual understanding—and excellent relationships with investors are crucial to growth.

“Failing to fill in angel investors is how you fail your business, because updates aren’t just a nicety, they’re a part of healthy operations. Plus, when you’re consistent, you don’t need to sit down and write an essay. When you don’t have to fill someone in on months of work, you can be brief and focused.”
—Roy Morejon, Enventys Partners

ALSO READ:  Set Yourself Up for Financial Success With a Budget Calendar

Via AB

Continue Reading

Latest Posts

Startups4 months ago

Male-owned businesses get seven times more funding than those owned by women

Does a woman need a man to succeed? Exclusive data from Startups reveals that when it comes to funding, the...

Startups6 months ago

i2c vows to hire 500 people in Pakistan as part of its  exponential Growth Statistics 

i2c has recently hired Jon-Paul Ales-Barnicoat to lead its human resources development as the organization plans to massively scale and hire 500...

Startups6 months ago

11 Startup Blogs That Are Killing the Game

startups are typically strapped for resources, neck-deep in product specs, laser-focused on customer acquisition, and dreaming of hacking massive growth....

Health6 months ago

Best Business Ideas for 2022: Healthtech

Healthtech is one of the key drivers of the UK startup scene, and is only expected to get bigger in...

News7 months ago

Lithops App Brings History to Life With the Power of AI and Rich Storytelling ….Amazing Experience

The app, Lithops, is a history-telling mobile app that unveils the significance of the world’s statues by digitizing them with...

China7 months ago

TikTok begins testing support for paid subscriptions

TikTok is testing support for paid subscriptions, the company confirmed to TechCrunch on Thursday. As first reported by The Information, the...

News7 months ago

13 Pro Startups in Pakistan that rocked the Cyber World

Startups in Pakistan have witnessed a mushrooming growth and each passing day Youth come with innovative ideas to launch their...

Reviews1 year ago

Find the perfect name for your business with the Business Name Generator by Looka

Looka’s Business Name Generator comes up with tons of business name ideas in seconds, allowing you to then check the...

Digital1 year ago

Karachi-based digital bookkeeping startup, CreditBook raises $1.5 million in seed funding

The Karachi-based digital bookkeeping startup CreditBook, which is trying to ensure that tracking of transactions goes digital, has announced that...

China1 year ago

TIKTOK’s global  growth and expansion : a bubble or reality ?

Social media has offered amazing tools and apps that have revolutionized the lifestyle of people. Social networks always keep you...

Advertisement

Trending

Copyright © 2022 StartupsPro,Inc . All Rights Reserved.