Conveying Traction in Your Pitch
What would I do if I didn't have traction (yet)?
In the last write up, I shared on how I would incorporate traction in the problem stage of the persuasion process. By storytelling the problem instead of “X number face Y problem every day” can make it a little more human. It makes it relatable and speaks their truth. Thus conveying the issue is being faced by the everyday Joe (or your target audience) before going into details. What is the purpose of this? To have their attention through resonating to their reality.
Following storytelling, the problem can be further highlighted through research. Now I don’t mean dumping the whole research outcome as a report in the driest possible way, I would only reference the source instead of using all of the findings in the entire section of the pitch deck. This is where it becomes tricky, you need to identify which info from your research would best help your persuasion process. If it were a pitch deck for key accounts, I would put more focus on its business implications. On the other hand, if it were a funding pitch deck, I would put more focus on growth related information. Knowing who you are pitching to will help focus information that should be highlighted.
Not Just About ROI
While it is true that the ultimate goal of an investor is what their returns on investment are if they put money into your venture, your first few angel investors may be convince by who you are and what you believe in. This is where some articles talk about focusing your pitch on your values, beliefs and who you are as a person in the background information section of the deck. In my experience, this is true especially when it comes to retail investors. Yes there are some who will be driven by numbers and facts and figures. However, there are others who are convinced by trust first, then rationalised that trust with facts and figures to ensure that you have done your homework.
Research
When it comes to conveying traction through research, I would pick and choose what information to highlight. If it were an institution or a family office that I was pitching to, I would highlight business oriented information. This is because they are a business too and are accountable to stakeholders. Supply gap and demand is a good place to start. Remember, eCommerce was nothing new when it finally penetrated the Chinese economy. It was a supply gap to 17.5% of the global population on top of many other factors. By conveying specified statistics or findings, you could then convey traction or growth potential for your company despite not having one just yet. If it were an angel investor, I would focus information on its impact and how soon this growth be achieved because angel investors have limited funding hence are more selective to what they invest in.
In conclusion, research and what information to focus is not just about dumping charts after charts in your pitch deck as it would become dry and investors may lose interest. Research findings can be conveyed meaningfully to different target audience when you know what to highlight and what to pitch on. So remember, it starts with who you are pitching to, and what is important to them.
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