Moneyhub needed a customer-centric sales methodology and skills that would help them create and succeed in new market space.
SPIN Selling and Complex Negotiation skills gave them a framework to explore complex client issues and opportunities, present a persuasive case and build better customer relationships.
Moneyhub have become less feature driven and more solution focused, shortened sales cycles and negotiated better deals.
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.
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
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
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:
“From a management perspective, it’s really clear to see what the use-case is. The lifecycle of a sale has sped up, and it’s enabling us to have more of a slick process and enabling us to hit more targets at pace.”
– Kim Jenkins, Managing Director
Moneyhub believe that businesses can thrive by being closer to their customers through explicit consent-driven data. They are the driving force behind the power of Open Data and are committed to building technology that makes it fair and beneficial for everyone. Through accessing the largest number of Open Banking, Open Finance, and Open Data connections covering 37 countries, they are relied upon by hundreds of organisations, spanning finance to media and retail.