It’s Unlikely That You’ll Land a Capital Commitment at an Event... so, stop trying.
The first month of 2022 isn’t over yet, but many of you will have already attended your first in-person industry event (or two!)… or have plans to be at one. In Florida alone, there are hundreds of visiting Managers thus far in January 2022 across conferences and networking events. The bubble of traditional equities and credit assets are being challenged by alternative strategies, some which are “exotic” and full of future promise.
In-person, event-based marketing is effective because institutional investors are there to hear about the different promises from managers with different strategies. It’s face-to-face where they aren’t shielded by the high, thick walls of the institutions which emails and phone calls have a hard time getting through. However, it’s extremely unlikely that you’ll land a commitment at an event, so stop trying.
Instead: focus on two things: (1) Growing your database, and (2) developing an authentic relationship with both prospective investors and the event organizer(s).
Growing Your Database
The capital raising game is one of ratios, and the sooner you accept that as truth, the better. Meet as many people as you can, get as many business cards as you can, and be disciplined in logging new contacts into your CRM.
There’ll be some service providers at events, but the majority of people in attendance will be prospective investors. The event itself is a qualification that the audience will be relevant (i.e. mostly investors). You paid a lot for the ticket, so be aggressive (but tactful) in connecting with attendees.
Develop An Authentic Relationship
LinkedIn is the best channel to utilize while you’re on-the-go at an event. Add new connections, post pictures, and tag people who are in pictures with you. If you’re lucky, the organizer might share your post, giving you publicity beyond any of the sponsorship packages you’d paid for.
After the event, follow-up promptly and leave your new contacts with something that is “interesting enough”. Your marketing deck and a profile video outlining your strategy should suffice. This sends a strong message about your professionalism. Once again, use LinkedIn to thank the organizers and share your musings. Recency bias means that your new connections will read what you say, more so than at any other time again in the coming weeks / months.
Be opportunistic. Head into marketing events with the right intensions, and you will find yourselves engaging more effectively with managers.