How do you follow up with your network contacts without being annoying or spammy?
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The first rule of following up is to be relevant and timely. Don't send generic messages or spam your contacts with irrelevant information. Instead, follow up with a specific purpose and a clear value proposition. For example, you could share an article, a podcast, or a report that relates to their industry, interests, or challenges. You could also congratulate them on a recent achievement, milestone, or funding round. Or you could invite them to an event, a webinar, or a meeting that might benefit them. Whatever you do, make sure you follow up within a reasonable time frame, such as a few days or weeks after your initial contact, and not months or years later.
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Think "how can I be of help for this person? Who could I introduce them to? What relevant companies did I come across I could share?" Among VCs it is normal to stay in touch, share deals and make introductions. We rely on this as a source of deal-flow too. Whether you are a VC, Founder or else, it is common practice. Also, people tend to reciprocate, if you are the first one who stays in touch and consistently provides value, your network will want to hear more from you and give back just as much.
The second rule of following up is to be personal and authentic. Don't use generic templates or copy-paste messages. Instead, personalize your messages with their name, company, and context. Show that you remember them and that you care about them. Use a friendly and conversational tone, but avoid being too casual or familiar. Don't use emojis, slang, or excessive punctuation. Also, don't be too salesy or self-promotional. Instead, focus on how you can help them, solve their problems, or create opportunities for them. And don't forget to say thank you and express your appreciation for their time and attention.
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Allowing your true voice to be heard is essential in all communication but even more important when building a support community, eg. with VCs. But it is essential that your authentic voice also must be consistent, positive and aligned with your mission. Over the last seven years as we have built Scottish Business Network into a global, dynamic, well-respected organisation I am reminded of this every day. How you show your authenticity is very personal hence getting that tone correct is very important. I notice this most prominently when communicating across different media, eg. I'm probably more polite on social platforms such as Linkedin than verbally face-to-face :)
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It’s important to write your messages in the same style as you would speak. This allows your true personality to shine and will not create any unpleasant jarring should you successfully arrange a conversation in person or over the telephone. Lead with what is in people’s minds now in a positive way. For example, as I write this, the UK is experiencing a heatwave. When you have a connection accept your invitation be sure to thank them. A voice note is always best. Keep it really brief and simple. I have been asking “Is it warm enough for you?” Take notice of the replies you will receive to this rather than asking if you can solve XYZ for them on your first message.
The third rule of following up is to be respectful and professional. Don't bombard your contacts with too many messages or calls. Instead, respect their preferences and boundaries. Ask them how they prefer to communicate and how often they want to hear from you. Follow their cues and signals, and don't be pushy or aggressive. If they don't respond, don't take it personally or assume the worst. They might be busy, distracted, or not interested. Give them some space and time, and try again later with a different approach or angle. And if they ask you to stop contacting them, respect their decision and move on.
The fourth rule of following up is to be consistent and persistent. Don't give up on your contacts after one or two attempts. Instead, keep in touch and follow through on your promises and commitments. For example, if you said you would send them a resource, a referral, or a feedback, do it as soon as possible. If you said you would introduce them to someone, make it happen. If you said you would follow up with them, do it on the agreed date and time. And if you don't hear back from them, don't assume they are not interested. They might be busy, forgetful, or overwhelmed. Try again with a gentle reminder, a new value proposition, or a call to action.
The fifth rule of following up is to be strategic and selective. Don't follow up with everyone you meet or exchange cards with. Instead, follow up with the contacts that matter most to you and your goals. For example, you could follow up with the contacts that have the most influence, potential, or relevance in your industry, niche, or market. You could also follow up with the contacts that have the most rapport, trust, or synergy with you and your values. And you could follow up with the contacts that have the most needs, challenges, or opportunities that you can address or create. By being strategic and selective, you can focus your time and energy on the contacts that can bring you the most value and impact.
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Tailor the information to be relevant, do your diligence on what that VC is investing or has invested. Very seldom the same fund will go for 2 competing ventures, when they do it can have challenges(see sequoia as example). Also, make sure the sector and tech is relevant to their previous investments or if you know it to their fund thesis. I.e don’t send biotech opportunities to the B2B software guy.
The sixth rule of following up is to be creative and memorable. Don't follow up with the same messages or methods every time. Instead, follow up with different ways to stand out and make an impression. For example, you could follow up with a video message, a voice note, or a handwritten note. You could also follow up with a gift, a book, or a voucher. Or you could follow up with a testimonial, a case study, or a success story. Whatever you do, make sure you follow up with something that shows your personality, your expertise, or your generosity. By being creative and memorable, you can build your brand, your reputation, and your relationship with your contacts.
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Spot on... In venture capital, being memorable is vital. The secret? Don't just follow up, but do it creatively and with authenticity. Aim to be a valued interaction, not a tick on a contact list. As socialised above, a video message, a voice note, a thoughtful gift - these are chances to display our personality and expertise. These gestures build our brand and reputation. In my view, it's about thinking outside the inbox and offering substance that resonates. My advice, dare to be different in the sea of sameness. After all, people remember how you made them feel - that's the crux of the art of networking.
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I once took an unconventional approach to deliver a pitch. Finding myself on the brink of desperation after weeks of fruitless attempts with traditional communication methods, I decided to employ a strategy as dynamic as the industry I was pitching to – extreme sports. With a Sharpie in hand and a surfboard as my canvas, I penned my entire proposal. While my handwriting may not have won any calligraphy awards, its charm lay not in its visual appeal but in its embodiment of creativity and gusto. The impact was profound - the distinctive presentation resonated with the audience, leading to a successful outcome. This experience became a testament to the power of breaking the norm when conventional methods fail to deliver the desired results.
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It is critical to be concise. Venture investors, early stage founders have a paucity of time and numerous varied competing priorities. Highlighting the pain point, the uniqueness of your solution and getting to the point quickly, helps them determine if the topic is relevant to them.
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