How to Market to Niche Segments – a Fintech’s View!

Stefan explains that it is vital to know your audience well and understand your client’s needs. This is crucial to success, regardless of the customer type or industry! “Being able to successfully position a product, service, or solution is so exciting for me; it is a true motivator.” Stefan explains that things have really changed in B2B marketing over time. “Account Based Marketing (ABM) has been incredibly successful over the last few years! Like contextual banking, precise targeting and personalization are key to successful marketing. ABM allows a well-orchestrated team – composed of, e.g., sales, product, and business development – to work closely with marketing to create a precise and targeted approach that will accelerate the sales cycle and improve the conversion rate.”

When asked about issues and challenges, Stefan spoke about the total addressable market vs the total reachable market. “Just because a solution may be ‘perfect’ for a company does not mean that they are ready for it.” Sometimes key subjects are not top of mind for the prospects that marketing wants to reach. One such topic could be Enterprise Payment Optimization (EPO). Seemingly, as long as the payments process is not entirely broken, companies may not be open to new ideas… even if they represent significant improvements in various areas. Relationship building is also key, as this will help a vendor get the first call once an enterprise is ready to talk or even make a decision. Stefan feels that “working with large, sophisticated companies may indeed be difficult, but it is definitely doable as well as highly rewarding! You need to be totally aware and absolutely clear as to whom you need to target with tailored materials so that a prospect will be ready to jump on your train!”

One key is bringing all the data from various sources in the team, e.g., sales, product etc., together so that it can be analyzed, prioritized, and utilized. “At TIS, we are very clear as to where our sweet spot is,” explains Stefan. “The higher the sales turnover, the larger the employee base and the more international a company is, the greater the complexity and the more TIS can help! However, we need different messages for different people and departments within a corporation. These messages need to be clear, specific and tailored. Marketing should have a good understanding of every influencer, champion, player etc. We need to know exactly what their responsibilities, opportunities and pain points are.” It is important to be able to articulate possible benefits. The cash manager and the treasurer may be enthusiastic and on-board, but different arguments are needed for IT. The advantages must be clear and tangible. This means not just different messaging for different departments, but also different companies, industries and geographies!

When asked what the key and overriding message is for treasury in regard to payments, Stefan did not hesitate, “Make your life and that of your CFO significantly easier and better by using specialized solutions for different areas and issues. For Payments Optimization, TIS has a lot to offer.” Stefan sees a clear comparison of most TMS vendors with decathlon athletes. Some may be good in various disciplines, but none of them can beat Usain Bolt in the Sprint! “For B2B Payments, TIS is the fastest runner in the lane. With TIS, a company gains transparency, efficiency, and security in their payments process. EPO can show an enterprise what is possible and make them ‘Shine’.”

Stefan believes in the gap selling approach, i.e., showing the client where they are today vs their possible future state. He wants to help create a desire for a better payment’s solution, which of course, TIS can provide. Being OK or average cannot compare with choosing the best solution, being on the leading edge and supporting sustainable growth for a company’s business. Sometimes it is a compelling event that pushes a client to decide; however, usually it is a matter of clearly articulating all the important benefits.

3 min read