Before I get started, I want to give a special thanks to Ericka Bates for inspiring me to write this Blog. Ericka is the founder of Talk-Virtual a virtual events company.
Time to jump straight in and remove some the barriers you face when trying to identify and work with well funded Startups.
I kicked off the webinar by introducing Prelo as the prospecting tool that makes it easy to target decision makers from Startups with funding.
In this particular webinar, we covered the following
- How to target recently funded Startups (covered in this blog)
- How to discover decision makers in funded Startups (coming soon)
- How Prelo helps you to write converting messages to decision makers (coming soon)
- How to build your network of decision makers from funded Startups (coming soon)
Before we jumped into the details on the webinar, I gave a short background into :
a) The key differences between Companies and Shortlisted Companies
b) Why industry templates are important
c) How to build your own industry template
d) I also promised to share Prelo’s Industry Matrix
Differences between Companies & Shortlisted Companies on Prelo
Understanding the key differences between your Companies Dashboard and your Shortlisted Dashboard underpins your success with Prelo.
The Company Dashboard in Prelo sends you Startups based purely on your industry and country scope settings.
The Shortlisted Companies Dashboard holds the Startups you’ve identified for further analysis.
- Company Dashboard – Prelo Pushes Relevant Funded Startups to you
- Shortlisted Dashboard – You Pull relevant Startups from your Company Dashboard
Industry Templates – How they help you target funded Startups?
Right now we have several hundred industries in Prelo, this is just impractical for a new customer trying to find their way around a product.
That’s why we’ve created industry templates. These templates come with pre-selected industries to accelerate your Prelo setup.
We’re working to create a standard list of 24 main industry templates to help you target Startups with funding (see image below) .
Why are Industry Templates So Important in Prelo?
Industry Templates can make or break your Prelo experience. These templates drive everything you see in your companies dashboard, so it’s important to continuously nurture them.
There are 3 major limitations with industry templates that you need to be aware of.
- minimum number of sub-industries per template is 5 sub-industries
- maximum number of sub-industries per template is 10 sub-industries (soon to change to 20)
- maximum number of industry templates you can have with as a Standard user is two
We had a great discussion on the webinar about removing some of these limitations to create more flexibility. Something to consider, for the future.
Our Future Plans for Industry Templates
We released the first part of our Standard Industry Templates last week and plan on making more updates in the coming weeks.
As I write this blog, I’m pulling together a mapping document to help you map industry templates to pre-selected Sub-Industries.
Please use this document to edit your Industry Templates and add more sub-categories to create a highly efficient way to group Startups by industries.
Build Your Own Industry Templates to Target More Funded Startups
A comprehensive list of industry templates is shared in this link.
As mentioned we plan on building this out and we’ll be updating the current list in the coming weeks.
How to Target Recently Funded Startups With Prelo
While it’s important to capture recently funded Startups, most Series A – Series C Startups don’t begin to engage with service providers until about about 3 months post fundraise.
Once you’ve identified funded Startups, send them to your Shortlist. Research the prospects and unlock their LinkedIn and Emails to Send them to your Saved Prospects List
The objective is to start a relationship building exercise. Connect with them on LinkedIn, show an interest in their content and move the conversation into the DMs.
Cold emailing and/or Cold calling recently funded founders only works if you are providing a super specific service based on data insights we’re sharing on Prelo.
How to Categorize Recently Funded Startups on Prelo
By default, Startups are ordered by funding date on the Prelo dashboard. Use the Search by Funding Date drop down to focus your search on specific dates.
Then create a saved search for the Startups identified for that Specific Date. Watch this demo to see how I’ve created 10 industry focused saved searches
Remember HealthTech and FinTech in North America, United Kingdom and India are some of the most frequently funded Startups, therefore your templates need to reflect that.
How to Analyze the Latest Funded Startup based on Funding Updates
There are 2 main setups Prelo power users have when setting up their industries and countries to find Startups with funding.
The first is a template that’s focused on receiving the latest funding updates for HealthTech, SaaS and FinTech Startups in North American Countries.
The other is a template that’s focused on receiving the most frequently Startups based on the total amount of data available on Prelo.
Why Regular Startup Funding Updates are Important
I share regular updates on Startup funding, I try to write at least 2 blogs a month on the latest state of Startup funding. Funding updates are not limited to early-stage Startups. I cover very late stage and non-Startup companies that actively support the Startup ecosystem. (Investment Funds, Asset Management Firms and more)
I wrote the blog startup funding trends in march to show how funding is distributed by country & industry. In this blog I share my strategy for creating the most optimal funding templates for capturing the latest monthly funding updates.
I started this blog trying to reproduce the entire blog based on the content covered in the webinar. Half way through , I realized that this was going to be way too much information to digest in one blog, so I’ve decided to split this webinar blog up into 4 blogs.
With that said, I hope this breakdown has given you some insight into how to setup you templates specifically using the comprehensive list of industries I’ve provided in the above link.
The next blog will delve into how and why you’ll create saved searches to target decision makers in the Prelo database.
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Until the next time.
I tweet about helping founders win!