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Walnut’s #WeAreProspects Campaign Is Fixing the B2B Sales Process

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Deanna Ritchie


Walnut, the disruptive product demo startup, has designed its buzzworthy Sales Experience Platform to help SaaS sellers seamlessly connect with their prospects. It utilizes personalized, codeless interactive demos that are fully optimized to maximize the B2B sales process.

Walnut’s goal is to perfect the B2B buying experience. This has pushed its founders to minimize and simplify the sales process rather than add yet another layer of complexity to it. The goal from day one has been to revolutionize B2B sales process and rebuild each buying experience from the ground up.

That’s why the startup hasn’t stopped with equipping salespeople with its groundbreaking SaaS solutions. Walnut has also worked to give those on the receiving end of B2B sales transactions a very real voice through its viral #WeAreProspects campaign.

The Struggle to Sell …and the Bigger Battle to Buy (Especially in B2B Sales)

Selling is a complex and increasingly difficult process. The internet has brought the world together, which has naturally increased competition. Target audiences are easily accessible, too. But this can lead to a case of analysis paralysis as sales departments attempt to spread their budgets across a variety of sales channels and opportunities.

While selling remains a complicated challenge, buying isn’t getting any easier, either. In fact, the process of making a purchase has become more convoluted than ever before. Even for B2C interactions — which have thrived in the online 21st-century marketplace — the process of buying something remains intensive and, at times, even overwhelming. Consumers must navigate through an endless myriad of advertisements thrown their way. They need to choose between countless options and different communication channels in order to engage and make a purchase.

And yet, the B2C sales experience is, in many ways, better than its ever been. Consumers have the ability to learn about products. They can both seek out (and provide their own) real feedback. Consumers can ask questions and search for answers. They can conduct research that helps them connect their own pain points and concerns with the solutions that best fit them.

Traditional Obstacles to the B2B Sales Process

In contrast, B2B sales are arguably more difficult — especially in the complex world of SaaS platforms and software. For the B2B sales process, there are many obstacles that get in the way of an efficient sales experience.

For instance, business prospects often need to jump through a myriad of different hoops in order to even get near to a product. This is problematic because, according to Forrester, three out of every four B2B purchasers prefer to educate themselves rather than speak with sales professionals to learn about products and services. In other words, they need access in order to assess their needs and how a particular product might address them. When a product remains elusive throughout the earlier stages of a sales funnel, it can dampen the sales experience and even, at times, kill it prematurely.

In addition, many organizations also focus on the seller rather than the prospect. They employ seller-centric sales strategies that focus on the performance of a salesperson or sales team rather than keeping the emphasis on the prospects themselves.

Data Silos and Fragmentation

Data silos also restrict the ability of many companies to put their best foot forward in the B2B sales department. This means marketing teams and sales reps don’t always have the most relevant and detailed information available when engaging with a prospect.

All of this leads to a stagnant and even frustrating B2B sales experience — and the proof is in the pudding. A recent report released by Gartner claimed that nearly 80% of respondents used the phrase “very complex or difficult” to describe their most recent purchase. It doesn’t help matters that the average B2B SaaS sales cycle is a staggering 84 days long. That’s equivalent to spending an entire quarter making a purchase.

The B2B sales experience is clearly broken, and it’s high time for innovators to do something about the matter. The B2B sales process needs to make a shift that brings it more in line with the B2C model that works so much better. That’s where Walnut comes into the picture.

The #WeAreProspects Campaign Is Rewriting the B2B Sales Experience

In response to the dysfunctional B2B sales process, Walnut has launched its new viral campaign, #WeAreProspects. The brand designed the initiative to attract real-world input from others about how they might want to improve their B2B buying experiences.

The campaign highlights specific cases of poor sales experiences for buyers. It also offers discounted solutions to those purchase-related struggles. These focus on targeted B2B sales solutions starting with Walnut’s own innovative and industry-leading sales demo platform.

Walnut has focused its entire business model on enhancing the B2B sales experience. But that doesn’t mean the company has been exclusive in promoting its own goods and services during the #WeAreProspects campaign. It has also brought a number of other companies in on the initiative with tools that also complement B2B sales.

For instance, Dooly helps improve Salesforce hygiene. Postal aids in automating offline marketing. Additional partners SimilarWeb, Contractbook, Sales Assembly, and Cloudshare all bring their own unique B2B sales support to the table, too.

By offering cloud-based solutions for prospective buyers, the #WeAreProspects campaign is providing relevant 21st-century solutions that are flexible, scalable, and affordable. They can enhance the B2B selling process in the present while also setting companies up for future success.

#WeAreProspects — Every Single One of Us

The #WeAreProspects initiative is focused on one thing: bringing the attention back to the buyer. It is bringing the power of cutting-edge SaaS sales solutions to bear on the B2B sales process.

By doing so, Walnut and its partner companies are trying to overhaul the needlessly complex buyer journey. Current efforts are stifling SaaS platform adoption. They are collaborating to collectively simplify the buying experience between businesses. Walnut hopes to create a more seamless, faster experience for buyers and sellers alike.

It’s a necessary and long overdue change in the B2B sales process. After all, in the words of Walnut’s CEO Yoav Vilner, “we are all someone else’s prospects.”

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

Politics

Fintech Kennek raises $12.5M seed round to digitize lending

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Google eyed for $2 billion Anthropic deal after major Amazon play


London-based fintech startup Kennek has raised $12.5 million in seed funding to expand its lending operating system.

According to an Oct. 10 tech.eu report, the round was led by HV Capital and included participation from Dutch Founders Fund, AlbionVC, FFVC, Plug & Play Ventures, and Syndicate One. Kennek offers software-as-a-service tools to help non-bank lenders streamline their operations using open banking, open finance, and payments.

The platform aims to automate time-consuming manual tasks and consolidate fragmented data to simplify lending. Xavier De Pauw, founder of Kennek said:

“Until kennek, lenders had to devote countless hours to menial operational tasks and deal with jumbled and hard-coded data – which makes every other part of lending a headache. As former lenders ourselves, we lived and breathed these frustrations, and built kennek to make them a thing of the past.”

The company said the latest funding round was oversubscribed and closed quickly despite the challenging fundraising environment. The new capital will be used to expand Kennek’s engineering team and strengthen its market position in the UK while exploring expansion into other European markets. Barbod Namini, Partner at lead investor HV Capital, commented on the investment:

“Kennek has developed an ambitious and genuinely unique proposition which we think can be the foundation of the entire alternative lending space. […] It is a complicated market and a solution that brings together all information and stakeholders onto a single platform is highly compelling for both lenders & the ecosystem as a whole.”

The fintech lending space has grown rapidly in recent years, but many lenders still rely on legacy systems and manual processes that limit efficiency and scalability. Kennek aims to leverage open banking and data integration to provide lenders with a more streamlined, automated lending experience.

The seed funding will allow the London-based startup to continue developing its platform and expanding its team to meet demand from non-bank lenders looking to digitize operations. Kennek’s focus on the UK and Europe also comes amid rising adoption of open banking and open finance in the regions.

Featured Image Credit: Photo from Kennek.io; Thank you!

Radek Zielinski

Radek Zielinski is an experienced technology and financial journalist with a passion for cybersecurity and futurology.

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Politics

Fortune 500’s race for generative AI breakthroughs

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Deanna Ritchie


As excitement around generative AI grows, Fortune 500 companies, including Goldman Sachs, are carefully examining the possible applications of this technology. A recent survey of U.S. executives indicated that 60% believe generative AI will substantially impact their businesses in the long term. However, they anticipate a one to two-year timeframe before implementing their initial solutions. This optimism stems from the potential of generative AI to revolutionize various aspects of businesses, from enhancing customer experiences to optimizing internal processes. In the short term, companies will likely focus on pilot projects and experimentation, gradually integrating generative AI into their operations as they witness its positive influence on efficiency and profitability.

Goldman Sachs’ Cautious Approach to Implementing Generative AI

In a recent interview, Goldman Sachs CIO Marco Argenti revealed that the firm has not yet implemented any generative AI use cases. Instead, the company focuses on experimentation and setting high standards before adopting the technology. Argenti recognized the desire for outcomes in areas like developer and operational efficiency but emphasized ensuring precision before putting experimental AI use cases into production.

According to Argenti, striking the right balance between driving innovation and maintaining accuracy is crucial for successfully integrating generative AI within the firm. Goldman Sachs intends to continue exploring this emerging technology’s potential benefits and applications while diligently assessing risks to ensure it meets the company’s stringent quality standards.

One possible application for Goldman Sachs is in software development, where the company has observed a 20-40% productivity increase during its trials. The goal is for 1,000 developers to utilize generative AI tools by year’s end. However, Argenti emphasized that a well-defined expectation of return on investment is necessary before fully integrating generative AI into production.

To achieve this, the company plans to implement a systematic and strategic approach to adopting generative AI, ensuring that it complements and enhances the skills of its developers. Additionally, Goldman Sachs intends to evaluate the long-term impact of generative AI on their software development processes and the overall quality of the applications being developed.

Goldman Sachs’ approach to AI implementation goes beyond merely executing models. The firm has created a platform encompassing technical, legal, and compliance assessments to filter out improper content and keep track of all interactions. This comprehensive system ensures seamless integration of artificial intelligence in operations while adhering to regulatory standards and maintaining client confidentiality. Moreover, the platform continuously improves and adapts its algorithms, allowing Goldman Sachs to stay at the forefront of technology and offer its clients the most efficient and secure services.

Featured Image Credit: Photo by Google DeepMind; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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Politics

UK seizes web3 opportunity simplifying crypto regulations

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Deanna Ritchie


As Web3 companies increasingly consider leaving the United States due to regulatory ambiguity, the United Kingdom must simplify its cryptocurrency regulations to attract these businesses. The conservative think tank Policy Exchange recently released a report detailing ten suggestions for improving Web3 regulation in the country. Among the recommendations are reducing liability for token holders in decentralized autonomous organizations (DAOs) and encouraging the Financial Conduct Authority (FCA) to adopt alternative Know Your Customer (KYC) methodologies, such as digital identities and blockchain analytics tools. These suggestions aim to position the UK as a hub for Web3 innovation and attract blockchain-based businesses looking for a more conducive regulatory environment.

Streamlining Cryptocurrency Regulations for Innovation

To make it easier for emerging Web3 companies to navigate existing legal frameworks and contribute to the UK’s digital economy growth, the government must streamline cryptocurrency regulations and adopt forward-looking approaches. By making the regulatory landscape clear and straightforward, the UK can create an environment that fosters innovation, growth, and competitiveness in the global fintech industry.

The Policy Exchange report also recommends not weakening self-hosted wallets or treating proof-of-stake (PoS) services as financial services. This approach aims to protect the fundamental principles of decentralization and user autonomy while strongly emphasizing security and regulatory compliance. By doing so, the UK can nurture an environment that encourages innovation and the continued growth of blockchain technology.

Despite recent strict measures by UK authorities, such as His Majesty’s Treasury and the FCA, toward the digital assets sector, the proposed changes in the Policy Exchange report strive to make the UK a more attractive location for Web3 enterprises. By adopting these suggestions, the UK can demonstrate its commitment to fostering innovation in the rapidly evolving blockchain and cryptocurrency industries while ensuring a robust and transparent regulatory environment.

The ongoing uncertainty surrounding cryptocurrency regulations in various countries has prompted Web3 companies to explore alternative jurisdictions with more precise legal frameworks. As the United States grapples with regulatory ambiguity, the United Kingdom can position itself as a hub for Web3 innovation by simplifying and streamlining its cryptocurrency regulations.

Featured Image Credit: Photo by Jonathan Borba; Pexels; Thank you!

Deanna Ritchie

Managing Editor at ReadWrite

Deanna is the Managing Editor at ReadWrite. Previously she worked as the Editor in Chief for Startup Grind and has over 20+ years of experience in content management and content development.

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