Successfully navigating Fintech: Moneyhub's strategy for accelerated growth

Getting started

Back in 2023, Moneyhub believed many of their sales conversations were broad and lacked focus, leading to meeting inefficiencies and a lack of progress throughout the sales cycle. They also identified the need to enhance the sales team’s confidence when dealing with larger enterprises and felt that a framework and structure would help them build efficient processes and meet targets more effectively. They wanted to move away from feature-led pitches and focus more on understanding and addressing specific client challenges.

Implementation

Moneyhub started to embed the SPIN® methodology across their sales and marketing teams in 2023 together with Complex Negotiation skills for to learn strategies for success in complex deals. They continue to focus on extending and improving SPIN® skills across their organisation as they grow, to meet the evolving skills requirements of their dedicated teams who are concerned with creating real value for their customers.

“At the start of this process, our people were dealing with smaller Fintechs, and they’re now dealing with larger enterprises and winning those medium and large deals with confidence. Seeing that confidence in the salesteam has been really rewarding.”

– Dan Scholey, Chief Commercial Officer

Key objectives and challenges

Moneyhub wanted to create a sales academy pathway with SPIN® as the foundation, offering them a research-backed, data-driven sales methodology that would equip customer-facing teams with the correct mix of skills, processes and tools to build better customer relationships and win more business.

The core objective when implementing SPIN Selling training was to bring structure into Moneyhub’s sales conversations, so they could shift the focus from feature-led sales to a needs-based selling approach. They wanted to fully understand and develop their customers’ needs in order to highlight the benefits of their solution. To do this effectively, they wanted the SPIN® tools and resources integrated into their CRM system, so they were more accessible and would streamline their sales process.

When it came to negotiating, one challenge they faced often was offering concessions too early in the negotiation process. They wanted a framework to follow that allowed them to refine their language and positioning while learning how to strategically push forward – and hold back – when needed.

“Levers is a key part [of Complex Negotiations]. Knowing when to push something or pull back has had a massive impact for me personally, as well as for our team.”

– Kim Jenkins, Managing Director

Impact and feedback

Implementing SPIN selling and Complex Negotiation skills has significantly contributed to Moneyhub's organisational goals by improving sales performance, enhancing customer relationships, and fostering a more strategic approach to business development. Here are some other areas of impact:

• More effective negotiations: The Complex Negotiation skills programme enabled Moneyhub to navigate challenging contract negotiations, especially in tough market conditions. By using levers and making strategic decisions, they can now deliver solutions that align with customer budgets and needs, securing favourable outcomes for both parties.
• Company-wide alignment: The adoption of SPIN selling principles throughout the organisation, including in marketing and in their proposals and presentations, ensures a consistent approach to client engagement, which helps to reinforce Moneyhub's customer-centric approach and strengthens its market position.
• Improved internal communication: There is now more internal conversation to achieve precision of language and to get Moneyhub's position right before heading into a negotiation.