As you did for your current clients, it’s important for you to understand the key pain points of, and apply your ideal client persona to, the broader business market. Now that you have experience solving for bill pay challenges, you can lean in on that expertise to communicate value to prospective clients.
In addition to the common pain points, this is the time to take industry verticals into account. There’s no need to chase unfamiliar waterfalls when you can find a smoother path to success sticking to the client types and industries you’re used to. The ability to specialize can help you stand out from the crowd, and clients in those industries will begin to seek you out.
- Things to consider when identifying bill pay needs in a particular industry:
- Do they have additional regulations to be aware of? (i.e. multiple approvers/signers required for nonprofit organizations)
- Does their industry move high amounts of cash between vendors and customers?
- Does their industry require more payment transactions than others?
- Do they operate from multiple locations or entities?
Using this information can help you create messaging that speaks directly to their industry pain points and shows that your firm is equipped to solve for these challenges.