cloudcamp chicago april 2015 - sam perl's talk "selling to the sell-side"
TRANSCRIPT
Selling to the Sell-Side
Sam Perl DealRoom by Fundology
Our Two Sales Challenges
1) We’re selling to salespeople 2) We’re selling in a competitive, consolidated, commodity market
We’re selling to salespeople
Investment bankers sell money & service…commodities Their strategy is to sell reputation & expertise
We’re selling to salespeople
Ex: Free Market Outlooks Content marketing meshes w/ their service
We’re selling to salespeople
Stage 1: Sell their service Stage 2: Sell their client Salespeople are hard to sell!
We’re selling in a competitive market
3 Firms… 80% of the market 20 Firms… 20% of the market
We’re selling in a competitive market
Barriers to entry at high end: Risk aversion, relationships, principal/agency problem Barriers to entry at low end: Price competition
Our Two Sales Solutions
1) If you can’t beat’em, avoid’em 2) Sell the way your clients sell
If you can’t beat’em, avoid’em
Researched ways to differentiate product Created a new market to avoid competitive barriers
Sell the way your clients sell
Become an expert in your value proposition Content marketing that meshes with offering
Takeaways
Take advantage of research, redefine your competitive market, and understand target psychology