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FINANCIAL SERVICES CASE STUDY

PFM Financial Improves Win Rates on Competitive Bids

PFM Financial | Philadelphia, PA | 500+ employees

The Challenge

Governments and non-profits have special financial needs, and as a result, most leverage independent financial advisory firms to conservatively manage their investments, maintain compliance, deliver performance reports, and properly plan budgets to assure cash on hand. Every few years, contracts to manage these funds go out for bid. The process is competitive, and it’s hard to prove superior value versus the incumbent and differentiate from the other firms participating in the presentation and bidding process. As one such independent financial advisory services firm competing for many of these bids, PFM also noticed prospects becoming much more price sensitive and risk-averse.

The Solution

All financial advisory firms provide similar solutions and instruments, so product differentiation is a challenge. The firms are very proud of their teams, their history, and past performance, so the majority of the presentations are all about the firm, with little if anything about the agency or group they’re presenting to and the unique challenges they face. To help flip the script, PFM enlisted Mediafly to conduct a collaborative on-site workshop to identify key buyer challenges and the differentiating value PFM can deliver to help buyers address these challenges.

Following the CLOSE methodology, Mediafly analysts built a Value Matrix™ messaging framework for the PFM team, codifying the challenges and value. For each challenge, the Value Matrix documented the Challenges, Loss, Opportunity, Solution, and Evidence – a guide to transitioning the strategy from “Why PFM?” to “Why change now?”. To bring their value messaging to life, Mediafly worked with PFM to create a new value-based presentation deck to help fuel more client-centric presentations and a set of provocative, challenge-focused infographics to grab prospects’ attention. The PFM team was also trained on the new Value Matrix, Go-To-Market deliverables and approach to help ensure success.

QuoteMarks“If we could follow the advice and change around our presentations and proposals to not be about our firm but about the prospect challenges, we could stand out and differentiate.”

Steve Alexander, Managing Director and Partner at PFM

The Result

Leveraging the new CLOSE methodology and presentations in their prospect pitch decks and proposals, the PFM team immediately noticed a significant change. With a modest investment in the workshop, Value Matrix, and Go-To-Market kit from Mediafly, the PFM team was able to completely re-engineer their approach, strengthening their sales engagements and differentiating their value from competitors.

The Mediafly marketing and sales tools have had a tangible and significant impact on growing the business from existing offerings and new product launches. When launching a new fund, the PFM team was also able to leverage CLOSE and the Mediafly tools to achieve $1 billion under management in record time.

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