With all of the effort that goes into running a business, it can be easy to forget the little things that matter. Your investors are the lifeblood of your business and sometimes quick updates on minor items can go a long way towards maintaining a strong relationship. These are a few areas where you should keep your investors in the loop with a quick message:
-Minor Product Changes
-Social Media Buzz
Inform your VC immediately when other investors express an interest in your company. They will be encouraged to know that others have confidence in your business and are considering investing their own money in it. You can provide this information in a quick message that says something like “We have some exciting news. We’re currently talking with other investors due to the attention that our fundraising campaign has attracted. Thanks for your help, and stay tuned for further developments!"
Your VCs will also like to be updated when you negotiate a lower price for materials or services. This type of message will say something like "Great news everyone! We've located a supplier for a much lower pricing point than what we've previously discussed. This development will allow us to make more products with the generous funding you've already pledged! Thanks again!"
Minor Product Changes
Investors need to know when you're considering a change in your product, no matter how minor. Obviously big changes are not the type of news you want to share in a quick email with investors, but minor changes can often best be handled with a quick email. This type of message might read as follows: "Due to the following reasons, we have decided to make a small tweak in our product." Then give them some quick bullet points on the reasons that led to the product change and what benefits you feel the change will have.
Unexpected media coverage is usually a welcome event for new businesses, especially a fundable startup. Let your investors know about the media attention your business is getting with a message like "We were just featured in BusinessWeek! You can find the article here." Be sure to include a link to the article in your message.
Social Media Buzz
Social media buzz around your product or even your industry can send positive signals to your investors. Social media outlets like Facebook and Twitter are the pulse of your customer base and positive engagement around your product can serve as social proof of its potential. Share stats such as the number of likes or tweets that messages about your product get and use analytics like Facebook Insights to report on reach.