Captive

Air travel is an elevated time to shake and move above the clouds. Elevation makes us all feel successful, so hammering on some work or catching up on a good read/listen/watch feels great, but a nap is just as nice.

Think back to the last time you warped time by catching a mid-flight nap. Suddenly, a flight attendant shatters your peaceful slumber—not to share a friendly update for passengers but to rattle off a forced sales pitch for their branded credit card. Ouch.

Extra Shot
Attention is hard to earn.
If you have it, don’t waste it.

Now, imagine an alternate scenario. Instead of unwanted interruption followed by an impersonal script that makes us feel like prisoners instead of appreciated customers, what if the same offer felt more like a special little gift?

How might it feel to hear that you have been selected to receive a free beverage or tasty snack, paired with that same credit card application as a convenient napkin? This tasty presentation would naturally snag the attention of nearby passengers. As word of mouth amplifies interest, similar offers could be made for those willing to complete the silly credit card application. Engage or don’t, but this quiet surprise feels less forced and can become more of a complimenting gesture to show customer appreciation.

That’s just a thought exercise, but we’ve all sat in situations where we were part of a captive audience. There is a fine line and a big difference between adding or detracting from an experience after interest is sparked or sales are made.

How do we treat our existing customers? Do they get attention only when there are issues or you have more to sell? How might we inspire more lasting joy by slowing down, setting efficiency aside, even letting go in a way? Instead of being careless with earned attention, consider unexpected ways to delight customers, which will remind them why they chose you in the first place. Giveaways, handwritten notes, or any gesture that shows you care will retain better customers.

Extra Shot
“Once you wow an audience, the same trick may not work anymore.” -Seth Godin, Free Prize Inside

How we treat existing customers sets the scene and determines the realities of attention retention. When customers feel thoughtfulness, they will stick around because they care as much as you do. This translates into customer retention because true fans take pride in staying connected. They have more patience when issues arise and get excited to share your charming work with others.

By Ben McDougal, ago

Attention Traps

As early moves are sequenced, a few creative assets can help founders translate emerging insight into valuable snapshots of the business. One-pagers, pitch decks, and investor memos are additional types of attention traps that entrepreneurs can use to ignite interest.

One-Pager

The one-pager is a punchy asset built to describe the most important elements of your business. Concise is nice, as the goal is to create immediate intrigue. One-pagers should be made to be seen by anyone. This means you must find a balance in giving enough details to show substance and realistic potential without giving away the secret sauce.

While you may know a lot about your business, the goal is to guide others through new layers of understanding. As you consider what content to include and how to format so much goodness into such a tight document, focus on creating curiosity to keep conversations flowing.

Extra Shot
The FliteBrite one pager from 2015.

 

Extra Shot
My guest column on consistency in the Business Record.

With a one-pager ready to share, invite feedback as you build confidence by sharing it with strategic investors, partners, and those who may kindle fresh progress.

Pitch Deck

Slide decks support a verbal presentation. Pitch decks add more information to help recipients (often investors) learn about your venture. With 10–15 slides, present the story of your business with eye-catching visuals, data-driven details, and links to more supportive content. Keep this asset concise and entertaining. Do so while identifying the market, problem, solution, signals of traction, moat-digging differentiators, team, competition, the ask, compelling calls to action, and contact information.

Knowing this attention trap is most often needed by founders raising financial capital, even if it’s in a closing appendix, it’s good to include more data-driven details to show research-based comprehension. Like back slides that support Q&A portions of a verbal pitch, market research, conservative financial projections, how money will be spent, and customer discovery results are all ways to prove you understand your business plan and how the numbers work.

That said, don’t numb readers. Avoid small font and word salads. Incorporate imagery that supports a captivating story. Translate your mission while making it clear how this venture will deliver serious returns. Like the one-pager, pitch decks are not crafted to secure an investment. They are designed to fuel interest and more conversation.

Investor Memo

Commanding an influential investor memo keeps people informed with the ongoing progress of your company. Along with sections you include in a pitch deck, investor memos create space to highlight the evolving details of your fundraising campaign, key performance metrics (KPIs), data visualizations, recent milestones, multimedia, needs of the team, and future goals for the company. Online platforms make it easy to manage dynamic, accurate, and interesting investor memos. The quick-to-digest but also real-time information is why investor memos are popular among well-articulated founders raising venture capital.

Extra Shot
If you can’t explain it simply, you don’t understand it well enough. -Albert Einstein

With these attention traps set, alternate versions of each asset may help you share impactful details with the right audience. For example, a pitch deck for local angel investors may be different than a pitch deck for a global venture capital firm.

Connecting everything adds efficiency but maintaining a well-organized data room is not for the faint of heart. As any company expands, so will the need to update different types of attention traps that support an evolving story for a growing variety of onlookers.

 

BACKGROUND CONTEXT
We had spent all month exploring early moves to evolve business ideas into reality. Using our time dedicated to no-code wireframing, actively listening to others, telling customer stories with a colorful business model canvas, and escorting execution with business plans, to translate emerging insight into snapshots of a business. The one pager, pitch deck, and investor memo are distinct types of attention traps entrepreneurs can use to connect with those who care.

By Ben McDougal, ago