Tiimiakatemia on Jyväskylän Ammattikorkeakoulun yrittäjyyden huippuyksikkö

Entering the market, Case: Festipay Nordic

Kirjoitettu 16.02.17
Esseen kirjoittaja: Jon-Erik Talvio
Kirjapisteet: 2
Kirja: Agile Selling
Kirjan kirjoittaja: Jill Konrath
Kategoriat: 1. Oppiminen

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Source: https://www.linkedin.com/pulse/entering-market-case-festipay-nordic-jon-erik-talvio

 

Year 2017 started with a challenge to create a market for the future payment of festivals and events. I grouped up with two great fellas and started to build the image of Cashless Festivals in Finland.

Cashless Festival concept is a new way of paying in festivals. Idea in a nutshell is to pay everything with wristband or any other NFC-device. Visitor uploads money through top-up points or via mobile application to the device. Cashless Festival with NFC-technology hype started somewhere near 2014 and is now a common thing already in the major festivals in middle Europe. Best things this brings; No Cash handling, 10-30% uplift in revenue per visitor, Data of how customers act, new ways of marketing sponsors.

The market itself is old, festivals, but the concept is brand new and something Finland has not yet really had in full scale. There has been multiple smaller instances from local suppliers, but the organizers have not had enough confidence to go full cashless. So the situation needed really agile adaptation to the situation and to learn the customer field. What I did was I grabbed book ”Agile Selling – Jill Konrath”. What I really were searching from here was some point I was missing here to close the deals.

First customer visits

First customer visits went basically saying ’Hi’, explaining the system and trying to see how organizers react to different things. I tried 3 different approaches: (Yes, I named these afterwards by myself.)

  1. Teach me” – Asking what do you already know about Cashless payment system? > Correcting if customer had some mistaken information. > Telling the benefits customer didn’t know yet > Asking that if they are interested.
  2. The Monology” Introducing the customer to Cashless. > Telling the benefits of Cashless. > Throwing in some references from other customers from other countries. > Asking that if they are interested.
  3. I have this idea” Question do you some what know Cashless? If yes; then short brief of Cashless system. If no; then give a longer introduction to the Cashless. > Ask if they already had some experience of Cashless so far. > Ask if the customer has visited our biggest client. If yes, did they like Cashless there? > Ask what kind of risks they have if going Cashless > ”Get an idea” that hey let’s plan a road map together how we go Cashless. First year we run a smaller VIP-Only environment then next year we add something more again in until we go fully Cashless and include all our products; Access Control, Ticketing, Cashless, Accreditation.

Per the book from Jill, the most important thing is to listen and take notes how customers actually react to different things. I did steal the question ”what are the risks”, which turned out to be a really good question to see the actual things behind denial.

The problem currently is that no one has gone full cashless yet, they are afraid to lose the reputation in the case of failure. As we are not a Finnish company it also hesitates the customer. How can we show the system as light as possible that it is bulletproof and really stable. We had to figure out an Entry-level product.

Entry-level product

Entry-level product which seems to be easy to run in is VIP-Only environment Cashless. We install proper POS-registers in the VIP-sections and then nearby sales points we install this light weight version of NFC-readers, so VIP guests are also able to buy stuff outside of VIP. We can install and run this with really lightweight staff. Negative thing here is only at our end because this doesn’t really generate profit for us at all. But my main goal is to build a market for the product here in Finland and in Nordic, and I think this is at the moment only way to enter the market with not much risk for anyone.

Jill also states in the book that listening some Pump Up music before meeting helps you to boost your confidence by releasing hormones. I did try this before last two meetings, and oh boy, they indeed little bit helped me to relax and be confidence with new clients.

We shall see how we succeed here with this. Hopefully next year we can start running the same marketing entry tactic in Sweden, Norway, Denmark, Estonia, Lithuania and Latvia.

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