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"How to manage & get decisions from big corps"  by the Founder & COO @Raisin

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Startups & corporates are a bit like David & Goliath... You need to get creative to beat the odds 

If you're B2B or playing in an established industry, knowing how to deal effectively with large organisations is a game changer. But you're in startup-mode: starting small, taking risks, moving fast and breaking things right? ⚡️

So how do you manage the power balance, navigate large and complex structures, and build legitimacy to get what you want?

 Michael Stephan is the Co-founder and COO of Raisin, the leading deposit marketplace for investments throughout Europe. With +40 banks on the platform, they've totalled nearly €5 billion invested since its foundation in 2013.

In this talk, Michael explains how they managed to build these strong partnerships and will share his best tips with you!

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"How to manage & get decisions from big corps"  by the Founder & COO @Raisin

  1. 1. How to manage & get decisions from big corps?
  2. 2. Who am I? 2 Michael Stephan ▪ Co-Founder & COO at Raisin ▪ Project manager at McKinsey & Company ▪ Master in Philosophy (LMU Munich), Bachelor in Business (WHU)
  3. 3. Savings of private households in Europe: EUR 10,000,000,000,000 3
  4. 4. 4
  5. 5. The Problem We Address: Large Differences in Interest Rates across Europe 5 0.09% 0.17% 0.39% 0.96% 1.05% 1.33%Netherlands France Italy ø Euro Area Spain Germany x 15
  6. 6. 41 Partner banks ~200 Products 1.4% WeltSparen average interest rate for 2016
  7. 7. How it works Country Platforms Individuals Companies Individuals Distribution Partners Partner Bank
  8. 8. Conquering Europe GERMANY Core market 2,200 Household savings in € bn FRANCE 2nd largest in Eurozone 1,400 SPAIN Our newest market 800 AUSTRIA Natural extension to Germany 300 1,600 The United Kingdom Planned to go live in Q1 2018 The Netherlands Planned to go live in 2018 400 8
  9. 9. Our Track Record: 41 Partner Banks and More Than 100,000 Customers since We Started 9 ✓ 41 banks from 17 countries with over 200 offers ✓ Over EUR 4.7 billion brokered volume ✓ More than 90,000 customers We have a proven model with many partner banks Nov 2017Dec 2013 EUR4.7bn ✓ Over EUR 63,000 average assets per active customer ✓ Equity funding of EUR 60 million (Series C) ✓ 150 Employees, founded in 2012
  10. 10. What I don’t know anything about B2B content marketing Growth hacking Mobile first in B2B sales B2B sales automation Engaging buyers on social media Buyer personas 10
  11. 11. What I can tell you about… Selling to Banks 565 ~200 41 Banks contacted Banks with meetings Cooperations closed 5 years of pitching, onboarding takes 3 months to 2 years 11
  12. 12. Few buyers Many buyers Simple product Complex product This is where Raisin has expertise in ▪ Large organizations ▪ Risk committees ▪ Legal ▪ Compliance Anti Money laundering ▪ IT-Integration ▪ Operations ▪ Consumer protection rules ▪ Many stakeholders ▪ … 12 Few buyers with complex products
  13. 13. 1. Ask, listen & learn
  14. 14. 2. Overselling/ Oversimplification pays off… unfortunately ;-(
  15. 15. 3. Nothing can substitute a personal meetings
  16. 16. 4. Be persistent & don't be discouraged by rejection
  17. 17. 5. Approach organizations from multiple angles & multiple channels
  18. 18. 6. Don't be too shy to use negotiation tactics
  19. 19. 7. Selling is a founder's job
  20. 20. 8. Competence pays off
  21. 21. 9. Understand the buyer's organization, key players and their interest
  22. 22. 10. Formalize & scale the sales process; discipline
  23. 23. Thank you!

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