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From Band Member to Board Member
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I think it's the classic word – grit. Never give up. So there's only one way to go: either you completely screw this up or you succeed really well. And that's what I did. I pretty much left everything else. So that's the first thing, to really focus. (Daniel Melkersson)
(00:01-07:34)
Daniel Melkersson shares his journey from being a band member and running an experience agency to leading successful B2B ventures. He emphasizes the importance of trying new things, even if it means failing often, as a crucial part of his career.
Daniel talks about the grit needed to build relationships with large retail brands like H&M, starting from local successes in Sweden before going global. He highlights the challenges and strategies involved in breaking into the market and scaling the business, including leveraging local investors and focusing on well-known brands. Daniel also discusses the evolution of PinMeTo’s sales process from hands-on founder-led sales to a structured, scalable approach.
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How to Sell Smarter
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Quality is that you talk about the customer. You don't talk about you. You don't talk about how great you are or what other customers you work with. You can do that in one slide. Then we always do that: we put in the customer's logo and then from here on we're just going to talk about you. And when SDRs book meetings, they find something to talk about the customer, not saying just, “Hey, we're here, where are you?” (Daniel Melkersson)
(07:34-12:28)
The speakers discuss the importance of an active outbound sales approach, especially when targeting big enterprises. Daniel explains how educating the market early on was crucial for PinMeTo's success. They also explore the challenges and perks of selling to marketing teams, noting that while marketers are conversational and engaging, the sales process can be lengthy due to the involvement of multiple stakeholders.
Daniel highlights the importance of a visual-centric sales process. He emphasizes the need to focus on the customer's specific issues and present solutions in a clear, visual manner, rather than just talking about the product's features. This approach not only makes the sales pitch more relatable but also helps in effectively communicating the benefits of the product.
Push the Customer's Pain Points To The Forefront
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A lot of people and a lot in sales training, in marketing schools and stuff, they say, “Don't talk about the customer's problem.” I don't believe in that at all. You should focus 100% on their pain and their problem, and just push it in their face. (Daniel Melkersson)
(12:28-18:52)
Daniel explains the importance of visually highlighting a client's problems to make the need for a solution clear. He believes in pushing the customer's pain points to the forefront, contrary to traditional sales advice that often suggests avoiding problem-focused discussions. This approach can sometimes backfire, as Daniel shares from an experience with IKEA, where showcasing too many issues led to internal conflict and stalled decision-making.
The conversation also touches on cultural differences in decision-making, with a specific focus on the consensus-driven nature of Swedish business culture. Daniel notes that while consensus can slow down the process, it is essential to understand and adapt to these cultural nuances when selling across different markets.
Daniel also shares insights into PinMeTo's sales strategy, including the importance of having a diverse team that understands local cultures and languages. Their largest sales office in Gdansk, Poland, exemplifies this approach, leveraging the city's international talent pool.
Alex and Daniel discuss the common challenge of competing with agencies that often offer free work to marketers. Daniel emphasizes that PinMeTo doesn't engage in unpaid pilots due to the significant setup work involved. Instead, they focus on paid pilots and clear communication about the value and effort required, ensuring that even initial tests are mutually beneficial and properly valued.
Cultural Nuances in Sales
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I think one of the things you need to do is take risks, but do it smart. Make sure that the risk is like when you buy a lottery ticket. Or if you buy a few lottery tickets every year, make sure it's money you can waste and make sure that you have that kind of money in your company if you want to grow. Because you need to take some opportunities from time to time. (Daniel Melkersson)
(18:52-25:19)
Daniel explains that while some agencies may feel threatened by PinMeTo's technology, smart and larger agencies often use their platform to enhance their local SEO efforts. PinMeTo aims to establish agreements directly with end customers rather than relying on agencies for partnerships.
Daniel distinguishes between "soft partners" (agencies selling time by the hour) and "hard partners" (other tech platforms with complementary technologies). He finds partnerships with tech platforms to be more effective. PinMeTo focuses on providing technology that improves efficiencies for customers, reducing the need for extensive agency hours.
Daniel emphasizes the importance of not over-relying on external advice, especially from investors, when it comes to growing your business. He values practical support from investors, such as networking opportunities and operational knowledge, over general strategic advice.
Daniel highlights the importance of taking calculated risks and being open to unexpected opportunities. For example, setting up a sales hub in Gdansk, Poland, which turned out to be a significant success. He advises against over-planning and encourages a more dynamic approach to growth, emphasizing the need to try new things and adapt as necessary.
The discussion also touches on the differences in sales approaches across various markets. In Sweden, consensus-driven decision-making is prevalent, while other markets may require different strategies. PinMeTo adapts its sales process based on cultural contexts, employing a diverse team to ensure effective communication and understanding.
How PinMeTo competes with American companies
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We have built an efficient company so we can have a good pricing. We also built a bigger customer success organization, I think, than most other tech companies in our industry. So companies tend to stay around because they get the help they need. We often say that we are not software as a service, but more like service as software, because service is really important. (Daniel Melkersson)
(25:19-33:51)
Daniel emphasizes the importance of experimenting rather than over-planning, especially for companies aiming for rapid growth. He notes that smaller companies can't afford to spend too much time on extensive planning and slides.
Daniel discusses how PinMeTo competes with American companies, particularly those with vast funding. He highlights the advantages PinMeTo has, such as understanding and complying with European regulations like GDPR, which some American companies struggle with.
PinMeTo prides itself on being an efficient company with a strong customer success organization. This focus helps retain customers by providing excellent service and support, differentiating them from competitors who might rely heavily on technology without the same level of customer interaction.
Rather than spreading themselves thin, PinMeTo focuses on the European market, where they can leverage their strengths. Daniel acknowledges that while some European companies successfully expand into the U.S., it often requires substantial investment and carries significant risk.
PinMeTo stays updated with technological advancements but prioritizes customer needs. They implement new technologies, like AI, based on direct customer demand rather than industry trends.
Daniel advises not to rely too heavily on investor advice unless it's practical and actionable. Investors are valuable for their networks and operational knowledge, but entrepreneurs should stay true to their vision and strategy.
Check the the episode's Transcript (AI-generated) HERE.
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Author
Experience-focused Leaders is the #1 Multimedia Podcast! We talk to senior business & tech leaders about the experiences that move forward organizations, customers and society at large. True to form, we mix audio, video, web and eBook formats to turn these authentic conversations into personalized nuggets you'll remember & use.
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