The first step in selling a fintech product or service is to understand exactly what that product or service does and how it can simplify life for your prospect. This may sound obvious, but there is a world of difference between knowing how your offering works and understanding how it would benefit your potential client. Simply said: do you know what problem you solve for the banker?
A clear and simple value proposition is vital. Potential clients don’t have time to sit through a sales pitch on how great your product or service is, they just want to quickly know what it can do for them.
Ask whether, in the mind of your prospect, you solve an urgent problem. Are you selling a ‘must have’ or a ‘nice to have’? This question is of extreme importance and the essence. You need to challenge yourself really hard here - many times we have worked with tech companies that think they solve a problem, but in reality their propositions are not perceived as such.
Upon hearing your offer the prospect will immediately think ‘what happens if I do nothing?’ Your offer, therefore, needs to consist of a clear, personalized and repeatable value proposition that solves their problem.
Make sure they come away thinking ‘we must have this’. Every purchasing decision comes down to the same question – do we really need this solution?
And last but not least, prepare the proposition in such a way that the prospective customer can easily sell it internally without your presence. Often, the prospect in your one on one will be enthusiastic about the proposition but fails to sell it internally. Again, repeatability is key.
You might also be interested in 'The 7 habits of highly effective fintech companies'
In this e-book we decided to highlight and explain each of the seven key habits that contribute to fintech success so other companies can benefit from our experience and that of our successful clients.
Mind the gap | Sales & Marketing alignment: In this series of articles we share our experiences, best practices, do’s & don'ts, pitfalls, etc... to help B2B technology companies align marketing and sales in order to grow successfully, ... sustainably. To learn more, click here