In this episode, I'm talking with Dan Ilett of Tollejo about sales and marketing techniques for FinTech companies selling to banks. We discuss the importance of building relationships, understanding customer needs, and differentiating from competitors. Dan emphasizes the need for collaboration between sales and marketing teams and the value of listening to customers. He also introduces the concept of "The Mirror", a research approach that helps companies gather feedback from customers and align their messaging and positioning. Dan recommends engaging with advisors and focusing on nurturing relationships with potential customers. Something very close to my heart -- because I've been going on about this for a long time.
If you'd like to discuss these ideas with Dan, drop him a note via his LinkedIn profile or direct at dan at tollejo.com.
Takeaways

Building relationships and understanding customer needs are crucial for FinTech companies selling to banks.
Collaboration between sales and marketing teams is essential for effective sales and marketing strategies.
Listening to customers and gathering feedback through research programs like the Mirror can help companies align their messaging and positioning.
Engaging with advisors and nurturing relationships with potential customers are effective tactics for driving sales.

Sound Bites

"Getting known before you walk in the door is one of the most important things you can do in this space."
"The most important column in your pipeline is the nurture column."
"Most companies have more relationships than they think."

Chapters

00:00 Introduction: Selling to Banks in FinTech
01:07 Background and Building Communities
03:21 The Value of Executive Summaries in Bids
06:06 The Importance of Getting Known Beforehand
07:25 The Limitations of Cold Calling
09:40 The Power of Third Party Validation
13:34 The Role of Marketing and Sales Collaboration
14:16 The Importance of Listening to Customers
16:37 Understanding Customer Needs and Aligning Messaging
16:46 The Mirror: Gathering Feedback and Insights
18:08 Aligning the Team's Understanding of Value Proposition
20:30 Differentiation in Messaging and Positioning
22:35 Building Relationships and an Advisory Board
32:50 Starting with a Listening Exercise

Keywords
sales, marketing, FinTech, banks, relationships, customer needs, differentiation, collaboration, listening, Mirror, research, advisors, nurturing

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