Good communication is a pillar of any successful business and is even more critical in a startup. A new company needs to establish open lines of communication with investors, clients, employees, and the rest of the business community. Effective communication begins with a firm strategy to ensure your startup’s success.
Creating a communication strategy starts with understanding the needs of the listener. You want to send different messages to investors, clients, employees, and the rest of the world who may be seeing your advertising. While some messaging is universal–everyone likes a bold vision, clear goals, and a personal touch–most elements should be adjusted based on the listening. For example, customers may be focused on affordability, while investors are usually more interested in profitability. All the correct messages can be communicated with some simple strategies.
Investors are essential to any startup, so you will want to be diligent about what messages you are sending them. Your investors need to know the problem your startup aims to solve, the market needs, and the marketing strategy before anything else. They want you to have the will, character, and plan for success. Making them believe in you and your business is the key to securing their loyalty. Creating trust between you and your investors is a process, but it can be helped by sharing your past hardships and how you overcame them.
When investors see that you are determined to overcome obstacles, they will be more likely to believe your business will succeed. Once you have won over your investors, they will want to be kept updated on the return on their investment. Be confident and transparent with your investors, even if company KPIs are below expectations. Keep communication clear and honest to keep your investor’s trust, and manage expectations to avoid disappointing them.
Clients require a different approach than investors. Catering to all client needs can take much work for a new startup with only one or a few products. Because of this obstacle, messaging becomes even more critical. Clients should understand how a company’s product differs from competing solutions and why these differences make it a better fit. If a company’s founder can sell customers on their vision beyond their solutions, they can connect emotionally with clients, fueling customer loyalty and retention.
Regarding communication with employees, camaraderie and dedication are the goals. You want your team to be confident and dedicated to your company’s mission and take pride in their work. Sharing your business’ vision and how it will positively impact society or your clients is a great way to build morale. Your employees will feel good knowing that their work positively impacts people’s lives. Creating a sense of community in the workplace will help employees feel good about their work.
Communicating effectively internally is as important as a company’s marketing material to the public. Issues within can easily bleed into clients and investors being dissatisfied. Echo the messages you send to the public by making your company a great workplace and showing investors that you can build a robust and loyal workforce and customer base.
