Too many FinTech marketers are marketing "blind". What is missing is quantitative data on how decision makers at financial institutions identify and select technology vendors. Understanding their influences is critical in helping develop marketing and communications programmes that ultimately help vendors sell. CCgroup therefore partnered with MRops to interview senior decision makers responsible from large global financial institutions regarding what influences their selection of technology vendor at different stages of the purchasing process: •Longlisting vendors •Shortlisting a vendor •Making the final decision Download the full report here: http://www.ccgrouppr.com/insights/audience-insight-report/how-to-influence-fintech-buyers/

2. The FinTech market is changing
Change in consumer behaviour is being fuelled by technology

3. The FinTech market is changing
The financial services market is becoming more competitive with more
traditional and non-traditional entrants

4. The FinTech market is changing
Damage caused by the crisis, bonuses, Libor and other issues must be repaired

5. The FinTech market is changing
Complex regulations are forcing financial institutions to make major changes

6. What does this all mean?
• To meet these challenges financial
institutions are investing in technology
to:
• Reduce costs
• Introduce new products
• Improve customer experience
• Comply with regulations
• Enhance security
• Global bank IT spending is to set to rise 19.9% and hit
$150 billion in 2018 - Ovum
The FinTech market is growing

7. Challenges facing FinTech vendors
• The market is crowded and it is difficult
to stand out
• Decision making is ‘consensus’ involving
lots of individuals
• Sales process has become more lengthy
and complex
Vendors are turning to marketing to
support sales, but most are…
marketing blind

8. What’s missing?
Hard evidence about how financial
institutions identify and select
vendors during the sales process:
• What influences them?
• What information do they want
about potential vendors?
• What information sources do they
value?
• Does this information change
during the stages of the RFX
process?

9. So we decided to find out

10. Size & frequency of tech investments
2% 2%
3%
6%
5%
2%
3%
2% 2%
3% 3%
2% 2%
6%
2% 2%
5%
3%
2%
3%
5%
3%
2%
3% 3%
2%
3%
2% 2% 2%
8%
2% 2% 2% 2%
3%
13% up to
$100,000
30% $100,000 up to
$1m
44% $1m up to $10m
21%
$10m +
• The highest value IT investment in the last 12 months averaged at $7,273,000
• Major technology purchase more than once every six months

11. Number of decision makers
• 52% of IT decisions involved ten or more people
• Average number involved is 36 people
• 15% involved 50 or more people
48%
26%
8% 2% 6%
15%
1 - 10 11 - 20 21 -30 31 - 40 41 - 50 50 +

12. What influences longlisting?
Trusted advice is critical for getting on a
buyer’s radar through either visibility with
analyst or peer/consultant networks
Content is king! Whether it is boosting
SEO ranking, underpinning a whitepaper
or webinar, or driving prospect and media
interactions
Advertising isn’t credible enough and
national/social media don’t provide
enough depth

13. What influences shortlisting?
Understanding of and ability to meet
buyer needs is essential. Thought
leadership is critical, and quality over
quantity builds reputation
Delivering unique insight that challenges
the buying audience and build credibility
through third parties are important
At this stage it’s about explaining why the
vendor is different over proving it is.
Evidence becomes more important at the
next stage.

14. What influences purchase?
Respondents were asked to provide the three most important influences in the
purchasing decision.
Value
26%
Service support
16%
Efficency of
implementation
13%
Quality
9%
Reputation
Service offering
12%
10%
Other
14% It’s not surprising that at this stage
of the selection process, value
becomes the most significant factor
Decision makers now want to see
hard numbers and deliverables
Ultimately, they are looking for
evidence that the vendor can do
what they say they can

15. What information isn’t available?
When asked what information FinTech
buyers do not receive, but would like, the
areas identified are again evidence-based:
• Evidence that the vendor has
experience in delivering to similar
companies
• Customer references and case studies
• Industry feedback
• Demonstrable track record

16. Positioning for…

17. Key takeaways
What’s important during longlisting?
• Internal business analysts
• Network
What’s important during shortlisting?
• Reputation
• Unique insight
• Credibility
What’s important during purchase?
• Hard evidence
What isn’t a priority?
• National & social media
• Advertising

18. For more information
All of the research findings, analysis and
conclusions are available in this white
paper:
How to influence FinTech buyers?
The document is downloadable here:
http://www.ccgrouppr.com/insights/audie
nce-insight-report/how-to-influence-fintech-
buyers/
Alternatively, please get in touch:
daniel.lowther@ccgrouppr.com
+44 20 7535 7226
+44 7747 636 687
@ccgroup
www.ccgrouppr.com