What is the best way to increase your B2B FinTech sales? Here are six tips from an expert who has interviewed many fintech sales professionals, both successful and unsuccessful.
Fintech is a rapidly growing market. It’s not surprising that sales interviews for fintech are changing.
Fintechs are thriving all around the globe, which means there is more competition than ever.
You can stand out from the rest by expanding your customer base. But with so many companies competing for your attention, how do you do that?
This post will discuss some of our top tips for sales interviews to increase your B2B sales success.
It’s crucial to be personal in fintech sales interviews. You should tailor your pitch to each individual to that you are speaking. After all, they are not just another customer. It is important to understand their needs and to find a way for you to meet them.
This could mean looking beyond the product to see what services they require to help their business succeed.
Once you have established the role of your fintech company, it is time to start the conversation and discuss how you can help them improve their business.
Fintech companies should not base their decisions solely on price.
It is important to remember that the fintech industry is still very young and customers are looking for both value and a great price.
Ask for recommendations and referrals – this will build trust with potential customers.
These are just a few tips we have for selling interviews. These tips will help you increase your B2B sales success.
Check out our other blogs for more tips and advice
– Personalize your pitch for each individual you are speaking to
– Find out what your needs are and then find a way that you can meet them
– Fintech companies should not base decisions solely on price.
– Do not be afraid to ask for recommendations and referrals.
You need to be able to stand out among the others applying for a FinTech sales role. The following 6 tips will help.
1. Research and build your FinTech Network before the interview-
LinkedIn is your best friend when it comes to interviewing preparation. LinkedIn can be used to discover who you will be talking to during the interview, and to grow your FinTech network.
It is a smart idea to follow prominent FinTech companies and events. From here, you may network with other
How do you expect your potential sales manager (or any other person) to ask you questions that will help you determine if this job is right for you?
It is to get a better understanding of the company’s sales process.
How do they close a deal?
What are the most common deal sizes and sales cycles for these deals?
Do you want to find out how many people are on your sales team? What kind of onboarding do they offer? Or what is their career path?
FinTech is a broad industry so you may be more motivated to ask questions to help you understand the FinTech product/service you are selling.
3. Get ready to talk about sales fundamentals
These are the points that a FinTech sales interview will focus on:
Do you remember selling anything?
What were you able to sell?
Which kind of clientele were you able to serve?
Are you an expert in FinTech?
Preparing your answers in advance will help you prepare for these questions. Take relevant information from your past jobs and compile them into a list that best demonstrates your sales skills.
The STAR interview is a great way to organize coherent, in-depth answers.
4. Your stories and accomplishments are your most powerful weapon.
Particular examples of past achievements relevant to the job are encouraged. Be specific about sales achievements and figures if you have worked previously in sales.
You can talk about any problems or failures you have faced in sales if this is your first interview. However, it’s best to choose professional experiences that are specific and concise.
Make sure to explain how you have overcome these obstacles and how they have helped make you a better professional.
5. Pay attention to your numbers
The sales department is responsible for achieving the bottom line. You should be able to demonstrate this.
Therefore, it is important to highlight the achievements you have made throughout your career. To demonstrate your ability and to sell, you must have tangible results.
For answers to these questions, you can examine old documents and perform evaluations.
Do you have any experience managing a budget?
It is how big?
What made your boss successful?
Are you a veteran of any major projects or wins?
6. Find a strong motivation to propel you forward.
This is a good thing to remember when you are preparing for an interview. It’s even more important when you are interviewing for a sales job.
Although sales can be challenging, the FinTech industry is constantly expanding in terms both of products and industries. The interviewer must see that you are driven and determined in your daily life.
Motivators can include a drive to make money, to have a job that you love, and a passion to talk to people.
Before you go to the interview, think about one powerful, motivating, and important thing that motivates you every morning.
FinTech is growing, with the majority of market growth coming from B2B FinTech.
This burgeoning industry has offered many opportunities to FinTech companies, but it is difficult to sell FinTech without large marketing expenses.
FinTech solutions can appear complicated and opaque to traditional financial institutions that still use traditional methods of doing their daily work. However, their main selling point is to simplify finance and streamline it.
This can be a problem for FinTech companies during the sales process.
When it comes to acquiring new customers, B2B FinTech businesses also face a host of marketing challenges. It can be difficult for startups to identify the right prospect and reach out to them to convert them into customers.
Marketing budgets are sometimes limited, which can lead to fewer marketing options. Many B2B FinTech businesses aren’t well-known.
Many B2B FinTech companies have difficulty convincing buyers to adopt a new solution.
These customer acquisition issues could be opportunities for any B2B FinTech firm.
Let’s look at what to do if your goal is to sell to financial institutions or banks.
1. Recognize and address business issues early
Many FinTech companies make the error of approaching financial institutions or banks with technical ideas that don’t address specific business problems and benefits.
How can you relieve discomfort?
Your product can help your clients increase their revenue.
It is important to identify industry problems and how they affect the productivity and bottom line of prospects. Customers will not buy a product that simplifies processes if it isn’t.
It is possible to be surprised to discover that your product or solution can solve a different problem than the one you created it for.
2. Choosing the Right Individual Money comes with a lot of risks.
It is not possible to approach random people with your product by cold phoning.
You must therefore determine the most cost-effective way to contact the decision-maker.
Major corporations may have several buying groups. These include EVPs and C-level executives. VPS is interested in the marketing, financial, and operational aspects of deals.
Sales Intel provides you with access to a database of banking and finance information that is 95% human-verified. It also has millions of direct-dial numbers so you can make informed decisions.
You can spend more time selling and less prospecting with our B2B data.
3. Refuse participation in FinTech Tourism
Selling to banks involves breaking down traditional record-keeping barriers to foster innovation. However, this doesn’t mean you have to give up hundreds of hours of consulting time to make the sale.
Bank employees and financial professionals place high importance on their time. It is important to strike a balance between pure tourist (overloading prospects and providing irrelevant information) and tourism with a purpose (keeping it concise and relevant to the client’s needs).
The best way to approach it is to show them the demo or allow them to try the product for a few weeks before you ask them to buy.
4. Be a specialist, not a generalist.
Do not try to solve all problems at once. Banks and financial institutions are open to competition and will prefer being treated differently.
High-risk banks have a low tolerance for failure and prefer specialists to generalists. They will be less likely to entertain you if you have a broad approach.
FinTech Sales Intel lets you research the technographic and firmographic information of your prospects so that you can approach them as specialists. You can also integrate the facts into your sales pitch to keep it exciting and engaging for your prospects.
5. Learn to please everyone
Selling to banks is a cross-discipline and cross-departmental endeavor.
End-users and influencers must be convinced about the need for FinTech products or solutions.
It is almost certain that working with a bank, financial institution, or other financial institution will raise security, data, information, and privacy concerns.
C-Suite directors, VPs, and Directors must be convinced in terms of innovation and marketing, competitive advantage, and customer experience and loyalty.
6. Start small, and then gradually increase your footprint.
In rare cases, it is possible to win negotiations with financial institutions and banks.
It is better to start small and expand from there than to try to build a large project. You and your clients will both benefit from this approach, as there is less risk than if you were to take on a larger project.
You can also focus on customer service by implementing a small project. This will allow you to build trust and cross-sell.
Once you have gained their trust and knowledge and shown the potential of your product, your clients will be more likely to use your solution for larger projects.
7. Make email marketing work for you
Emails are crucial for nurturing and creating B2B leads. According to B2B marketers, 73% consider email campaigns “great” or good as part of their marketing plans.
Focus on building relationships with people that you have qualified for via email marketing.
However, it is important to ensure that email greetings and personalized messages are sent to the right recipient. It is a good idea to work with reliable B2B data sources that can provide accurate financial and banking industry data.