What I had in front of me was a highly specialized target
market, of credit analysts, CFOs, risk managers, the professionals in financial
services industry.
Being a start-up, our company was relying on marketing to initiate
the conversation with our targeted, specialized audience. We eventually started
a good one, after lots of trials and tunings.
Sure, we knew our product and what the benefits of our
services were. We were able to bore anyone to death with the wonderful technical characteristics
and specifications, explain exactly how everything works and why. After all, we
knew so much about OUR business and activity.
Bo-ho-ring.
Truth was that, at first, we were safely withdrawn in the comfort
of knowing perfectly our stuff. I thought that's enough to make a good impression
in sales meetings - being able to answer every single question about your
service; what was happening was that, up to a point, the conversation was going
fine, and then there were all these terms the clients was using when talking
about his activity and when answering my questions about his risk-verification
processes: default probability, collateralization, pledges, securities, oh, by
the way - how are you on the portfolio securization side?
Plain Chinese. What I did was take notes, go back to the office and
clarifiy every jargon term. Then started reading what newspapers,
publications, and sections these professionals were reading, to gain context
and industry fresh facts.
Turned out quite nicely.
No one asks you to be a financial analyst in order to
promote risk management services, but it's true that you have to put in serious effort to break the industry's jargon, so that you can start using it yourself
when addressing this niche. Both you and the marketing materials you're writing
should inspire confidence that you understand and have competences in your
target market's activity.
The fiduciary is someone who has undertaken to act
for and on behalf of another in a particular matter in circumstances which give
rise to a relationship of trust and confidence. [according to trust law Bristol
& West Building Society v Mothew [1998] Ch 1 at 18 per].
No comments:
Post a Comment