Increasingly entrepreneurs are using ‘video pitches’ as a way of trying to increase the impact of their investor pitch. At the same time Angel Investors and Venture Capitalists are encouraging startups to ‘virtual pitch’ them.
In our new world of e and virtual communications this is a logical step that brings clear advantages. Studies have consistently shown that the combination of visual and audio is far more effective for conveying your message clearly and with greater impact. Traditionally this has been achieved by a person presenting live with the aid of a PowerPoint Keynoe presentation.
In the context of raising business funding from investors, the ability to pitch via video or virtually saves the entrepreneur time and money, without substantially reducing the positive impact that can be experienced during a well-executed ‘in person’ investor pitch. For pre-recorded video pitches you have the additional benefit of being able to edit and re-record until your pitch is perfect.
However, as some investors (e.g. Brad Feld) have noted, entrepreneurs are failing to maximize the benefits from these new pitch mediums. More than half of the video pitches we review simply consist of the founder talking into the camera. This is a waste of an opportunity and can be counterproductive in terms of your investor pitch.
If you are going to send a pitch via video, the following simple rules can make the difference between securing a meeting and getting funded or ending up in the deleted items box:
1. Check that your investor is open to receiving video pitches. The vast majority of investors still prefer a deck and / or executive summary (one pager).
2. Include screenshots and, if possible, a demo.
3. Make sure you come across with ‘measured’ energy and positivity. Far too many video pitches are monotone monologues.
4. Review, edit and re-record until you get it right. And don’t just rely on your own opinion. Bring in a trusted third party and seek their opinion.
Video and virtual investor pitches may be the norm in the not too distant future.
Make sure you maximize the benefits and deliver an Oscar winning performance on film.