Your perfect prospect is not going to buy from you based on first impression alone. Your perfect prospect is in high demand and will be reviewing all your competitors, so they’ll need lots of convincing before selecting a vendor. The mind set for many RegTech companies is that they can close a deal after just one appointment or demo….
Irrespective of how easy it might be to buy your product, the efficiencies it creates or what price point it might be, AML, Compliance, FinCrime, Risk and Regulatory buying centres are high-calibre prospects, who take time to make serious decisions. RegTech companies are advised to consider what it might take to play the long game.
Flashy web design and an educational social media presence alone sadly do not impress these buyers. They expect those things – it’s the bare minimum. Those AML, FinCrime & Compliance Officers have heard every line and seen every clever presentation!
Senior decision makers in the AML & Compliance community are busy professionals, they don’t want their time wasted & they are looking for real substance. The personal touch, providing value and reliability is key. Relying on mass email, digital and social selling can only get you so far. The relationship needs to be nurtured in a truly personal way.
Clients working with Gungho who take the long term approach to securing new business have built a strong platform for success. One good example is Verafin Inc, who has engaged Gungho as its partner since 2014 to host highly personalised telephone conversations with an audience of 12,000+ Banking Secrecy Act Officers (aka MLRO) in North America. The campaign has allowed Verafin to truly understand where the prospect might be on their journey of a buying cycle, the challenges, the incumbent and the renewal dates. The Gungho team spends around 200+ hours each week nurturing these prospects over a period many months (and years!) to create trust, value and reliability. Verafin combine Gungho’s efforts with their own cleverly thought out marketing engine, creating events, webinars, and high value thought leadership content via Social & Email campaigns.
Consider the growth of Verafin over the last 5 years….their dedication to truly nurturing prospects for the long game has created some pretty impressive results.
Get in touch if you are considering your own approach to nurturing prospects, we’d love to hear from you and explore a potential partnership.