Today the NVCA in partnership with DeSantis Breindel and Rooney & Associates released a study that, for the first time, looks at the influence of brand in the venture capital industry. The topic is one that is near and dear to my heart – and to the hearts of more than 100 members of the NVCA Strategic Communications (StratCom) Group, many who gathered last week in Santa Clara to talk about brand management, investor relations, public relations and other marketing and communications topics. The group previewed the results of the study – which is aptly called the Brand Influence Guide for the Venture Capital Industry or BIG: VC -- and immediately understood the implications for their respective firms.
The fact that “brand matters” came as no surprise. Since the technology bubble of 2000, venture capital firms have comprehended the importance of differentiation when it comes to attracting deal flow. In the last decade, a shrinking industry and challenging fundraising environment has made the practice of brand management that much more critical. When we began the StratCom group in 2003, NVCA could identity about 20 firms that had a full time marketing professional on staff or under contract. Today that number has quadrupled and hiring is on the upswing.The BIG: VC study – which surveyed more than 370 venture capitalists, CEOs of startup companies and, to a lesser extent, limited partners from the NVCA and Dow Jones VentureSource data base -- offers a strategic road map for brand marketers in our industry. You can view the data deck here and get more information about the study here where you will read about some very interesting findings beyond the fact that brand is important. Specifically:
Of course, all of these perspectives depend upon where you sit. Life Sciences VCs and CEOs think differently about brand than those operating in Information Technology. And the BIG: VC study covers those differences as well.
We encourage you to review the full results and we plan to share more on this topic in the coming months. In the meantime, you can contact me with any questions at firstname.lastname@example.org.
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