Understanding the problem to market the solution with Kristi Lewis
Kristi: Hi, I’m Kristi Lewis, the Director of Marketing at nanopay, and I wanted to share with you today a few of the challenges that come with marketing a payment technology, as well as a few of the tips that I’ve used to try to overcome them.
Kristi: So the first challenge that I wanted to talk about is business payments, and really how do we get that business to care? So as a business, their goal is to grow. They’re focused on sales, they’re focused on revenue, and they’re focused on conversion. It’s pretty unlikely that they’re focused on that payment and the processes that go with it.
Kristi: So my advice for this is pretty simple. You want to focus on the problem that you’re solving and you want to understand how that issue is so painful for that business customer. So for example, let’s say you take a business that’s trying to reconcile their payments manually during tax time. They’re sitting there, they’re combing through their bank statements. This is a perfect time for you to approach that subject and to catch them ripe for that innovation.
Kristi: Now, the second challenge, and this actually goes for a lot of technology companies out there, is how do you market APIs? My advice would be make sure the design team is your best friend. Have them mock up a visual of what that technology is going to look like integrated within their system. This could be something as simple as just a pay now button on their website.
Kristi: So to summarize, when marketing a payment technology, it’s all about getting your customers to care, understanding what that problem is that you’re solving for them, as well as visualizing how your technology can work within the realm of their product suite.