The fintech industry's growth is increasing immensely, due to which they must influence buyers in the right manner.
FREMONT, CA: FinTech tends to witness exponential expansion, with the B2B fintech industry sprouting a large part of that growth. The creation of B2B fintech continues to be driven by payment platforms and SaaS-based back-office software. The US smashed a fintech funding record in 2019 by looking at the fintech industry as a whole, generating $59.8 billion in investment (compared to $58 billion the year before). Here are some of the ways how buyers are influenced.
Key factors that affect the buying process were also listed in the CCgroup study. The question explicitly posed by the survey was: what decision-makers most respect sources of power and networks? In order of significance, the responses were then evaluated. The top influencing sources included:
Internal business analysts – Large businesses also use in-house business analysts to search for ways to optimize business processes. In order to arrive at a list of options, these analysts then analyze information from different sources such as trade media and market analysts.
Peers – Organizations often depend on their peers' feedback, although it requires a high degree of commitment, time, and confidence.
The report indicated that the following are most relevant in terms of content that decision-makers find influential:
Industry analyst reports – Independent market sector solution reviews by an expert may include impartial knowledge on particular solutions.
Vendor reports – Reports and white papers that look deeply into a business problem and illustrate how technology can fix that problem are prioritized. These showcase the supplier as a viable option and provide an expert look at a critical industry problem.
Opinion articles – Whereas these ranks are significant in the decision-making process, and leadership may play an important role. It shows that a seller has a finger on the pulse of business problems and knows their clients' companies. Such a form of material, particularly in highly competitive industries, can make or break a sale.
See Also: Top Fintech Service/Consulting Companies
